Homegrown Edtech Startup Teachmint Lays Off Over 70 Employees: Report

Another homegrown edtech startup Teachmint has laid off over 70 employees, its second round of job cuts after sacking about 45 workers some five months ago, media reports said on Friday.

According to leading startup news portal Inc42, the Lightspeed-backed edtech startup informed about the layoffs in a town-hall meeting with employees.

The layoff impacted employees in talent acquisition, tech, and support roles teams at the Bengaluru-based startup.

"Some roles have been unfortunately impacted as we work on increasing structural efficiencies in our operations. We have proactively communicated to the impacted colleagues and are working on providing them comprehensive support," said a Teachmint spokesperson.

Led by edtech startups, over 25,000 employees have been laid off by nearly 100 startups in India including BYJU'S, Unacademy and Vedantu.

Last month, Chennai-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru and Hyderabad amid global macroeconomic conditions.

In March, Gaurav Munjal, Co-Founder and CEO of Unacademy, announced to reduce the size of the team by 12 per cent or more than 350 employees to "meet the goals we are chasing in the current realities we face".

In November last year, the edtech major laid off 10 per cent of its workforce or nearly 350 employees, as funding winter deepened.

--IANS

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