Mumbai-based edtech unicorn Eruditus, backed by SoftBank, has laid off 40 employees as part of a broader workforce reduction. This move, carried out over the past month, is part of a trend where the company is scaling back hiring significantly, planning to add only 100-150 new hires this year compared to 1,300 in the previous 12 months. Consequently, the talent acquisition team was halved, with 15 members let go from a team of 30. In total, 80 employees have recently departed, with half leaving voluntarily. The layoffs are aimed at optimizing costs and steering toward profitability amid a cautious funding environment, even though Eruditus has substantial financial reserves, including a recent $350 million debt raise. The company partners with top global business schools to offer executive education programs.
