Extramarks, a Reliance-backed edtech startup, laid off over 300 employees in mid-April as part of a restructuring effort to shut down its loss-making B2C business vertical. The layoffs, which primarily affected teams in sales, customer support, HR, marketing, tech, and content, were driven by significant financial losses, with the company reporting a net loss of INR 104.8 crore in FY21. Following the pandemic, a shift back to offline learning led to declining admissions and increased cash burn in the B2C segment. While Extramarks will continue serving existing B2C students, it will now focus entirely on its core B2B operations, which involve digitizing schools with educational content via LED screens. The company, founded in 2007 and headquartered in Delhi NCR, has not disclosed its total employee count, but the layoffs reflect a strategic pivot amid challenging market conditions in the edtech industry.
