According to co-founder SuryaNarayanan PaneerSelvam, Skill-Lync, the upskilling firm catering to engineering students and graduates, recently terminated nearly 160 employees in July. This move comes after the initial round of layoffs that took place in April.

“I would like to address the reported layoff figure, which accurately stands at 20%. It is important to note that our current total headcount is approximately 800 employees,” said PaneerSelvam in a statement shared with Moneycontrol.

He mentioned that the company's choice to reduce the workforce was made with the aim of streamlining costs.

“Our decision to limit investments in future content and production capabilities was not taken lightly, and we have done our utmost to ensure that the process was as transparent and fair as possible for the employees involved,” he added.

Skill-Lync, founded in 2018 by PaneerSelvam and Sarangarajan V Iyengar, is dedicated to offering industry-relevant and career-oriented courses for engineering students and graduates across various disciplines. Currently, the company assists more than 30,000 students from all regions of India through these courses.

Back in April, Moneycontrol reported that Skill-Lync had laid off approximately 400 employees, attributing the decision to challenging macroeconomic conditions.

In November, the company acquired Crio, a platform specializing in experiential learning for tech careers. This strategic acquisition aimed to bolster their offerings in the higher education sector, especially as competition intensifies in the segment during a downturn in online learning.