K-12 edtech platform Practically laid off an unspecified number of permanent employees across departments in early October 2022, citing a severe funds crunch and a failed funding round. The company, facing liquidity issues, also delayed salaries for many contractual and permanent staff for three to four months. This restructuring was part of a strategic shift to focus on potentially profitable B2B, international, and partnership lines while scaling down its B2C business. The layoffs reflect broader financial struggles in the Indian edtech sector, where over 7,000 employees were let go that year due to declining demand for online learning as offline classes resumed.
