Vedantu Unemployed 400+ of Their Workforce- This is the End to Online Education? Vedantu, one of the five Edtech Unicorns of the country India decided to unemployed their employees due to the crises in the Edtech sector. The company was unemployed 424 of their employees. This is 7 percent of their total workforce. This happened at the time of the need for remote education and the institutions to tech remotely increased by the Covid-19 pandemic. To know more details about this issue stay tuned with us.
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Founder cum CEO of Vedantu Vamsi Krishna said that, “Currently, the external environment is tough. War in Europe, impending recession fears, and Fed rate interest hikes have led to inflationary pressures with massive correction in stocks globally and in India as well. Given this environment, capital will be scarce for upcoming quarters. With Covid tailwinds receding, schools and offline models opening up, the hyper-growth of 9X, Vedantu experienced during the last 2 years will also get moderated. For long term sustenance of the mission, V would need to adapt too”.
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At the situation Covid-19 lockdowns all the real world educational institutions are shut downed. There is lot of essential for the online education al centers. But after the reopening of physical campuses the need for the online one is now decreased. That causes the crisis in the Edtech institutions. To get the recent and trustable updated news subscribe ExamsDaily.
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