According to Vedantu, Deeksha is one of the top K–12 test preparation companies in Karnataka, and this strategic cooperation would support Deeksha's hybrid education plan.
Digital Desk: According to corporate sources, the top edtech platform Vedantu has sacked another 385 workers, marking the fourth round of layoffs this year as the financial crisis worsens.
Layoffs have affected the sales, HR, and content departments, and according to business sources, they are a result of a determined effort to decrease excess burn and prioritise profitability above growth.
Vedantu has so far requested the participation of around 1,100 employees for this round.
The edtech major remained silent when contacted right away.
Vedantu requested 100 staff to leave in August. More than 10% of its personnel, or 624 workers, were let go by the corporation in May.
In May, the business employed just under 5,900 people.
The exam preparation platform Deeksha (Ace Creative Learning Pvt Ltd) was acquired by the live online learning platform in October for $40 million, acquiring the majority of the company.
According to Vedantu, Deeksha is one of the top K–12 test preparation companies in Karnataka, and this strategic cooperation would support Deeksha's hybrid education plan.
Vamsi Krishna, CEO and Co-Founder of Vedantu, stated that the company's goal with this acquisition was to "empower and scale Deeksha's current learning model by deploying our disruptive in-house hybrid technology to reach the masses in remote areas and create impact at scale."
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