Layoffs in India

Swiggy, a major Indian food and grocery delivery startup, laid off 380 employees on January 20, 2023, as part of a companywide restructuring. This reduction affected approximately 6% of its total workforce of about 6,000 people. CEO Sriharsha Majety cited slowing growth in the core food delivery business, over-hiring based on overly optimistic projections, and a broader late-stage funding crunch impacting the tech startup sector. The company also announced the shutdown of its standalone meat marketplace, though meat delivery will continue through its Instamart service. Impacted employees were offered severance compensation ranging from three to six months' salary.

Healthtech startup MediBuddy, backed by Lightrock India, laid off approximately 200 employees earlier this week as part of a restructuring exercise. This represents about 8% of its workforce, which totaled over 2,400 employees prior to the cuts. The layoffs, impacting all departments but heaviest in tech, product, sales, and operations, aim to eliminate role redundancies and realign business goals for long-term stability. The Bengaluru-based company, which recently completed its merger with DocsApp, cited the need for this one-time restructuring despite the short-term difficulty. MediBuddy is providing outplacement assistance and extended health benefits to affected staff. The layoffs occur amid significant financial pressures, with the company's losses having soared in recent fiscal years.

SaaS startup Exotel, a Bengaluru-based cloud telephony platform, has laid off employees as part of a business restructuring and a revision to its performance improvement plan (PIP) policy. While sources indicated around 142 employees, or 15% of the workforce, were affected, the company stated that 80 employees were impacted, with 35 due to restructuring and 45 from the PIP process. The layoffs, which occurred following policy changes in late 2022, were attributed to performance issues and organizational adjustments, with no severance paid for performance-related terminations. Amidst these changes, Exotel, which is cash positive and eyeing future growth including a potential pre-IPO round, emphasized that such decisions are a last resort for the employee-first company.

GoMechanic, an Indian automobile after-sales service startup, has laid off approximately 70% of its workforce amid severe financial difficulties. The Gurugram-based company, which provides car repair services and sells spare parts, is facing a critical cash crunch with reported loans of INR 120 crore and market pendency of INR 40 crore. Following the layoffs, which affected employees across departments including on-ground staff, the remaining employees have been asked to work without pay for the next three months. The situation has prompted lead investor Sequoia Capital to initiate a forensic audit due to financial irregularities. Founded in 2016 and backed by investors like Tiger Global, GoMechanic had raised $42 million in 2021 but now struggles with limited runway, reflecting broader challenges in the Indian startup ecosystem during a funding winter.

Dunzo representing approximately 3% of its workforce on 2023-01-16.

Mohalla Tech, the parent company of social media platforms ShareChat and Moj, has laid off 500 employees, representing approximately 20% of its workforce. This decision, part of a broader restructuring, follows the recent shutdown of its fantasy gaming platform Jeet11, which led to 100 job cuts, bringing the total layoffs to 600. The company cited a need to reduce employee costs amid cautious investment sentiments and a challenging funding environment. Mohalla Tech, a Bengaluru-based content unicorn valued at $5 billion, reported a significant loss of INR 2,498.6 crore in FY22. Affected employees will receive severance packages including notice period pay, additional compensation, and extended benefits.

Gramophone, an agritech startup, has conducted layoffs as part of a broader trend affecting Indian startups in early 2023. While the exact number of employees let go at Gramophone is not specified in the article, it is mentioned within the context of agritech firms beginning layoffs after a two-year funding boom. The layoffs across the sector, including at companies like Dunzo, ShareChat, and Rebel Foods, are driven by a funding winter and macroeconomic uncertainties, leading firms to rein in costs and optimize operations. This wave of job cuts follows a challenging 2022, where nearly 18,000 startup employees were laid off, and reflects ongoing cautiousness in the consumer internet and tech industries at the start of the new year.

Rebel Foods representing approximately 2% of its workforce on 2023-01-16.

Indian ride-hailing and electric vehicle company Ola laid off approximately 200 employees in a restructuring exercise during the second week of January 2023. The job cuts affected teams across both Ola Cabs and Ola Electric, with the company citing a need to improve efficiencies and eliminate redundant roles. This downsizing, which had been under consideration since the previous September, occurred as the company aimed to streamline operations. Ola, a major player in the mobility and EV industry, stated it continues to hire for priority areas like engineering and design despite this reduction.

In January 2023, the Bengaluru-based fintech startup Cashfree Payments laid off approximately 100 employees, representing about 6-8% of its workforce, as part of a cost-reduction effort amid a challenging funding environment. The company, backed by YCombinator and Apis Partners and valued at $200 million, conducted this organizational restructuring primarily affecting sales and merchant onboarding roles. This move reflects broader pressures in the fintech sector, including a funding crunch and tightening regulations from the Reserve Bank of India, which have complicated Cashfree's plans to raise additional capital.

Indian cryptocurrency exchange CoinDCX conducted a quiet round of layoffs in December 2022, affecting an estimated 80 to 100 employees, primarily from its marketing, branding, and activation teams. This represents roughly 12-16% of its then 642-person workforce. The move was part of a broader business restructuring and cost-cutting effort, mirroring industry-wide challenges as crypto exchanges globally face difficult market conditions and regulatory hurdles. While the company publicly framed the changes as an internal reshuffle and hiring for new roles, sources described it as silent layoffs where employees were asked to resign with a month's severance pay. This followed a period of aggressive hiring by CoinDCX and coincided with major layoffs at its investor, Coinbase.

Unacademy-owned edtech startup Relevel is laying off 40 employees, representing nearly 20% of its workforce, as the company shifts its focus from its core education business to a test product business and the newly launched NextLevel app. CEO Gaurav Munjal cited a lack of available roles for the affected employees following this strategic pivot. The layoffs, part of a broader trend in the Indian edtech sector, occurred in early 2023. Impacted staff will receive severance pay, including notice period compensation plus two additional months, along with accelerated vesting, medical insurance, and placement support. Unacademy has laid off over 1,000 employees across its group in the past year amid ongoing industry challenges.

Edtech unicorn LEAD has laid off approximately 60 employees, primarily from its product and technology teams, marking its second round of job cuts within five months. This reduction affects about 3% of its 2,000-strong workforce, following a previous layoff of 100 staff. The company cites the restructuring as a regular business activity due to certain projects, like the Nucleus and Student App, not meeting success criteria or aligning with the strategic roadmap. Despite these cuts, LEAD, which became a unicorn in early 2022, continues to expand, recently raising debt funding and acquiring Pearson's K-12 business in India. The layoffs occur against a backdrop of significant financial challenges, with the company's standalone loss soaring to INR 397.1 Cr in FY22, reflecting broader sectoral pressures as post-pandemic school reopenings impact edtech revenues.

Bounce, a scooter rental and electric two-wheeler manufacturer, laid off approximately 5% of its workforce, affecting around 40-50 employees, as part of cost-cutting measures in early January 2023. With a total staff of 500-700 in India, the layoffs targeted customer support, finance, and other segments. The company, backed by Sequoia Capital and other investors, has been shifting focus from its pandemic-hit bike rental operations to electric vehicle manufacturing under the Bounce Infinity brand. This marks the third round of layoffs for Bounce, following significant workforce reductions in 2021, as it strives to streamline expenses and drive efficiency in its OEM business amid ongoing industry challenges.

UpScalio, an Indian e-commerce roll-up company, has laid off approximately 20% of its workforce, affecting around 60 employees. The layoffs, which occurred in early 2024, are part of a strategic restructuring aimed at improving profitability and operational efficiency. As a startup in the competitive e-commerce aggregation space, UpScalio is adjusting its team size to better align with current market conditions and business priorities.

Harappa Education, an edtech startup owned by upGrad, laid off around 60 employees, representing 30% of its 200-person workforce. The layoffs, announced in late December 2022 and reported in March 2023, primarily affected the content division as part of broader restructuring. This move reflects ongoing challenges in India's edtech sector, where funding constraints and shifting demand have led to widespread job cuts. Despite recent growth and expansion plans, including a launch in the US, the company implemented these reductions without offering severance benefits, signaling potential further adjustments amid industry pressures.

PharmEasy, an Indian e-pharmacy and health tech startup, has conducted another round of layoffs, affecting employees primarily from product technology, quality analytics, and support teams, as well as technology and design. The layoffs occurred between November 29 and December 1, with the company citing reasons such as restructuring, macroeconomic challenges, and the impact of the Russia-Ukraine war. While the exact number of affected employees was not independently verified, reports indicate the startup is letting go of hundreds as part of a cost-saving drive amid a severe funding crunch. PharmEasy, which has faced difficulties raising capital, shelved its IPO plans earlier and is grappling with mounting losses, reflecting broader pressures in the tech startup industry.

Food delivery giant Swiggy is laying off approximately 250 employees, representing about 3-5% of its total workforce. The cuts, reported in late 2022, impact roles across supply chain, operations, customer service, and technology. This performance-related restructuring occurs as Swiggy faces intense competition, with rival Zomato holding a 55% market share. The company is also taking steps to reduce costs and cash burn, including scaling back its quick commerce expansion. These layoffs are part of a broader trend in the Indian foodtech and startup industry, which saw significant workforce reductions that year.

Indian edtech company Vedantu has laid off 385 employees in its fourth round of job cuts this year, bringing its total workforce reductions to over 1,100 in 2022. Following this latest round in December 2022, the company's employee count stands at approximately 3,300. The layoffs, affecting functions like sales, HR, and content, are part of a broader cost-cutting drive as the company seeks a path to profitability. This move reflects industry-wide pressures on Indian edtech firms, where the post-pandemic slowdown in online learning growth and a challenging funding environment have forced austerity measures, including significant layoffs across the sector.

Oyo, the hospitality technology company, announced layoffs affecting 600 executives from its technology and product teams on December 3, 2022. This reduction represents about 10% of its 3,700-employee base. The company is streamlining operations by shutting down experimental projects like in-app gaming and merging teams to improve efficiency, particularly within its European vacation homes business. Concurrently, Oyo plans to hire 250 new employees in sales and partner relationship roles to strengthen its core business development and customer satisfaction efforts. The firm is offering support to affected employees, including assistance with job placement and extended medical benefits.

HealthifyMe, a Bengaluru-based healthtech and fitness startup, has laid off 150 employees, representing 15-20% of its total workforce, as part of a restructuring effort amid economic uncertainties. The layoffs, confirmed in early 2023, primarily affected roles in SME, quality analytics, product, and marketing. The company cited slower-than-expected growth, shifting market dynamics, and a strategic pivot toward its new "HealthifyMe 2.0" vision focused on metabolic health as key reasons for the move, aiming to steer toward profitability despite having a comfortable cash runway. Affected employees will receive a severance package including two months' salary, vested stocks, extended medical coverage, and outplacement support. This follows a period of significant funding, including a $75 million Series C round in 2021, but also an eightfold increase in net loss to INR 157 crore in FY22.

ShareChat laid off 100 employees on 2022-12-02.

Bengaluru-based edtech startup Teachmint laid off 45 employees last week, representing about 5% of its workforce, as part of a restructuring effort to build long-term efficiencies and address redundancies. The impacted roles were primarily in sales and operations. The company, which provides a video-first teaching platform for educators, offered a severance package including three months' pay, extended health coverage, and expedited ESOP vesting. This move comes amid a broader funding winter in the Indian startup ecosystem, where edtech firms have been particularly affected by the reopening of schools and a shift in investor sentiment. Teachmint, valued at $500 million after a $78 million Series B round last year, is among numerous Indian startups that have conducted layoffs in 2022.

In November 2022, the global chat-based direct hiring platform Hirect, which connects startups with job seekers, laid off approximately 40% of its workforce, affecting around 200 employees. This reduction was part of an organizational restructuring and a strategic shift in its business model, as stated by co-founder and CEO Raj Das. The layoffs reflect broader challenges in the startup ecosystem, where a slowdown in hiring—following a pandemic-era boom fueled by cheap capital—has particularly impacted companies like Hirect that specialize in startup recruitment. At the time, Hirect had around 472 employees, down from a peak of 600. The company, based in Bengaluru and San Francisco and operating in the HR tech industry, faced criticism from affected employees who reported delays in receiving severance pay and relieving letters after being asked to resign in mid-October.

In November 2022, VerSe Innovation, the Indian startup behind apps like Dailyhunt and Josh, laid off 150 employees, representing 5% of its 3,000-strong workforce. The company, valued at $5 billion and backed by investors including Google and Microsoft, also implemented an 11% salary cut for remaining staff earning above a certain threshold. This restructuring was driven by a challenging economic climate and a severe downturn in the advertising market, which significantly impacted the consumer tech industry. Despite raising over $800 million earlier that year, the startup took these measures to streamline costs and ensure long-term business viability.

Zomato, the Gurugram-based food delivery and restaurant aggregator, has initiated layoffs impacting at least 100 employees, which represents about 4% of its workforce. The job cuts, reported in November 2022, are part of a cost-cutting effort to steer the company toward profitability amid a broader funding crunch affecting Indian startups. The layoffs have affected roles across product, technology, catalogue, and marketing departments, particularly those deemed redundant, while supply chain roles were spared. This move follows a series of high-level executive departures and the discontinuation of Zomato's food delivery service in the UAE, reflecting a period of strategic restructuring for the company.

On November 9, 2022, Sequoia and Tiger Global-backed insurtech startup Plum laid off 36 employees, representing about 10% of its 350-person workforce. The co-founders cited tough market conditions and a global economic slowdown that has made venture capital firms more cautious, forcing the company to align its investments with new market realities. Founded in 2019, Plum provides a technology platform for group health insurance to corporate clients. The company stated it would offer comprehensive support to affected employees, including severance, healthcare benefits, and career assistance, while maintaining its focus on insuring 10 million lives by 2025.

HighRadius, a US-based software unicorn, laid off 25 probationary employees in its Bengaluru office on November 9, 2022, as part of a broader restructuring effort in India. This follows a series of abrupt terminations that began in July 2022, with a source indicating the company aims to remove up to 1,200 employees by January 2023 ahead of appraisals. The layoffs, executed in what employees describe as an insensitive manner, have sparked significant backlash. Affected staff reported being immediately escorted out, forced to submit resignations online, and given minimal severance—one month's pay for probationers. The company, operating in the enterprise software industry, faces allegations of exploiting interns and conducting mass terminations to avoid larger severance costs.

Astra, a space launch and propulsion company, has laid off approximately 16% of its workforce due to the challenging economic climate. The decision, announced by CEO Chris Kemp, aims to prioritize near-term goals, such as developing reliable Astra Spacecraft Engines and achieving a successful first flight of Rocket 4, while extending the company's financial runway. The layoffs, which occurred this week, affect dedicated employees who are being offered transition benefits including salary continuation, severance, and outplacement services. Astra emphasizes the ongoing importance of its vertically integrated space services amid global economic and supply chain disruptions.

Unacademy, an Indian edtech startup, has laid off 350 employees, representing about 10% of its workforce, as part of a second major round of job cuts in 2022. Announced in early November, this restructuring aims to reduce operational redundancies and accelerate the company's path to profitability amid challenging economic conditions. CEO Gaurav Munjal cited the need to build more efficient systems for leaner times, despite previous cost-cutting measures that had already lowered monthly burn. Affected employees will receive severance including notice pay, additional compensation, extended benefits, and placement support. The edtech industry in India has seen widespread layoffs this year as startups adjust to funding constraints and macroeconomic pressures.

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.

Indian B2B ecommerce unicorn Udaan has laid off 350 full-time employees in its second major workforce reduction this year, following 180 layoffs in June. This move is part of the company's ongoing drive to achieve profitability and enhance operational efficiency. A company spokesperson cited an evolution in its business model and an efficiency enhancement drive as creating redundancies, making some roles no longer necessary. While the official figure is 350, some reports suggest the total number affected could be higher. Headquartered in Bengaluru, Udaan, which connects SMEs, wholesalers, and retailers, has been actively raising funds through debt and convertible notes while focusing on improving its unit economics and cost structures.

Edtech startup Doubtnut laid off an estimated 30-40% of its workforce over the past year, a significant reduction driven by a need to drastically cut costs. The company, which had raised about $50 million in total funding, struggled with a high cash burn and delayed monetization, making it difficult to secure fresh capital or find an acquirer. To control expenses, Doubtnut reduced its monthly burn by over 80% by March 2023, which included shutting down several exam preparation verticals and rationalizing teams in sales, academics, and marketing. While the exact number of employees affected is not specified, the severe cut in employee benefit expenses indicates a large-scale layoff. The company has since focused on growing its YouTube-based revenue channels.

In September 2022, the SaaS-based e-commerce platform Dukaan laid off 23 employees. This decision was part of a strategic shift by the Bengaluru-based startup, which moved its focus from serving small and medium-sized businesses (SMBs) to targeting direct-to-consumer (D2C) brands and enterprises. Founder Suumit Shah explained that roles in areas like live chat support became less critical after this pivot and due to increased automation. While the exact percentage of staff affected is unclear as the total employee count was not disclosed, the layoffs reflect the company's realignment within the competitive e-commerce enablement industry, following its $11 million Pre-Series A funding round in 2021.

GoNuts, a Mumbai-based celebrity engagement startup in the media and entertainment industry, has shut down its B2C operations as of September 2022, resulting in layoffs for all employees in that vertical. The decision was driven by a failure to grow its target audience over three years, coupled with difficulties in securing venture funding amid a broader economic slowdown. While the exact number of affected employees is not specified, the company had raised over INR 7 crore from notable investors. GoNuts will continue operating as a B2B entity, with the founders engaging existing clients.

Synapsica laid off 30 employees representing approximately 30% of its workforce on 2022-10-21.

Qin1, a Noida-based edtech startup specializing in coding and English classes for students, has shut down operations entirely, resulting in layoffs for its entire workforce. The company, which had around 350 employees earlier this year, was unable to secure new funding amid a severe "funding winter" impacting the Indian startup ecosystem. Co-founder Aarti Gupta cited funding issues and failed acquisition talks as reasons for the closure, which occurred a couple of months prior to the report. Operating in the competitive edtech industry, Qin1 had raised a pre-Series A round in early 2021 but ultimately could not sustain its business, joining a wave of similar startups facing financial pressures in 2022.

In October 2022, the edtech startup FrontRow, which offers celebrity-taught courses similar to MasterClass, laid off approximately 130 employees, representing 75% of its workforce. This drastic reduction left the company with a team of about 40. Co-founder Ishaan Preet Singh cited unsustainable business fundamentals and a failed sales and marketing approach as the reasons. This was the startup's second major layoff in months, following a 30% cut in May. The move reflects broader challenges in the Indian edtech sector, which saw significant funding declines and widespread job losses in 2022. FrontRow had previously raised millions, including a $14 million Series A round.

Indian edtech giant Byju's announced on October 12, 2022, that it would lay off approximately 2,500 employees, representing 5% of its total workforce, across multiple departments. This significant restructuring, the company's second major round of job cuts in recent months, is part of a broader effort to improve finances and achieve profitability by the end of the financial year in March 2023. Amid a global market downturn that has delayed IPO plans, Byju's is also reducing its marketing budget, shifting focus from established Indian markets to more efficient growth and brand building overseas. The $22 billion-valued startup, which reported a substantial net loss, aims to balance its rapid revenue growth with sustainable operations, having recently moved to clear major acquisition-related debts.

Indian cryptocurrency exchange WazirX laid off 40% of its workforce, affecting 50 to 70 employees out of a total of 150, as reported in early October 2022. The layoffs, which impacted multiple departments including customer support, HR, and the entire public policy team, were attributed to a severe bear market and global economic slowdown. The company cited a dramatic decline in trading volumes, exacerbated by India's challenging regulatory and tax environment for crypto, which made operations unsustainable.

Ola, the Indian mobility startup, has laid off 200 software engineers as part of a major restructuring plan to centralize operations and minimize role redundancy. This reduction affects about 10% of its engineering workforce, which totals over 2,000 roles across various streams like vehicle, battery, and autonomous engineering. The layoffs, occurring in 2022, come amid challenges including declining sales for Ola Electric scooters and previous shutdowns of ventures like Ola Cars and Ola Dash, which had already led to around 1,000 job cuts. Despite this, the company plans to hire 3,000 more engineers soon, focusing on its electric vehicle ambitions, including scooters and upcoming cars, as it navigates a competitive travel tech industry.

Clear, a Bengaluru-based fintech SaaS platform formerly known as Cleartax, laid off approximately 190 to 200 employees on September 15, 2022, representing about 20% of its workforce. The cuts affected multiple departments, including tech, product, and sales, as part of a restructuring effort to extend the company's financial runway amid a broader decline in startup funding. This move occurred nearly a year after Clear raised $75 million in a Series C round led by investors like Kora Capital and Stripe, and followed recent acquisitions aimed at expanding its compliance and financing services. The layoffs reflect a challenging environment for Indian startups, which have seen significant workforce reductions in 2022.

Lido Learning, an Indian edtech startup backed by prominent investors like Ronnie Screwvala, filed for insolvency and bankruptcy in September 2022. This followed the abrupt layoff of approximately 1,200 employees earlier in the year, a move that left many without final salaries. The company, operating in the competitive education technology sector, cited an inability to pay its debts as the reason for initiating the Corporate Insolvency Resolution Process. This event was part of a broader wave of layoffs across Indian startups in 2022, particularly in edtech, as companies faced financial strain after a period of rapid, pandemic-fueled growth.

Gold loan fintech startup Rupeek has laid off approximately 50 employees on September 7, marking its second round of workforce reductions this year after cutting 180 jobs in June, bringing the total to about 230 employees let go in 2022. This represents around 5% of its total workforce. The Bengaluru-based company cited a subdued macroeconomic environment and a strategic shift toward achieving profitability within the next 12-18 months as key reasons, aiming to adopt a leaner cost structure. Concurrently, Rupeek is in advanced discussions to secure $16 million in funding from existing investors like Sequoia Capital and Accel, having already raised $7.4 million to bolster its financial position and core operations.

Koo, an Indian micro-blogging platform and a homegrown rival to Twitter, has laid off 15 employees, representing about 5% of its total workforce. The layoffs, which occurred in late August and early September, primarily affected operations and backend teams in north India. The company stated that these positions were made redundant due to performance issues and to align with current business requirements, describing the move as in line with industry standards. Amid a broader funding crunch in the startup ecosystem, Koo is simultaneously hiring in monetization, product, and engineering teams to prepare for its next growth phase. The company, backed by investors like Tiger Global, operates in the social media and technology industry as a startup.

Social commerce platform Meesho laid off approximately 300 employees in late August 2022 as it wound down its grocery business, 'Superstore,' in over 90% of its operational cities. This decision was driven by low revenue and high cash burn in the grocery segment. The layoffs followed earlier workforce reductions of about 150 in April 2022 and 200 in April 2020, as the company, which serves millions of users and small businesses, refocused on its core marketplace. The affected employees reportedly received a severance package of two months' salary.

ShopX, a Bengaluru-based e-commerce enabler backed by Nandan Nilekani and Fung Investment, has ceased operations and filed for insolvency. The company, which had raised over $54 million and was valued at over $100 million, struggled after pivoting from its core model in mid-2021. This shift, along with the low-margin nature of the industry, made operations unviable. In June 2021, ShopX laid off over 50% of its employees as part of its restructuring. Unable to generate sufficient cash flow or secure new funding since April 2020, the company could not meet its financial obligations, leading to its shutdown in August 2022.

In August 2022, Indian school edtech unicorn LEAD laid off approximately 100 employees, which represents about 5% of its then 2,000-strong workforce. The company framed this as part of its annual performance review process, resulting in a reduction of less than 100 roles. This move occurred within a broader industry trend where edtech companies, facing a post-pandemic slowdown in demand for online education, were implementing cost-cutting measures. LEAD, having recently raised $100 million and achieved a $1.1 billion valuation, emphasized it remained adequately staffed for growth, aiming to focus on innovation as schools reopened across India.

CarDekho, a Ratan Tata-backed unicorn in the used-car marketplace industry, conducted layoffs in early August 2022 as part of a broader trend of startup job cuts amid a persistent funding crunch. While the exact number of employees affected was not officially disclosed, the layoffs targeted roles across junior and mid-senior levels, including retail associates and inspection engineers. The company framed the terminations as performance-based actions under a performance improvement plan (PIP), citing a shift in focus toward achieving profitability and creating leaner teams. This restructuring reflects the challenges faced by startups during a period of tightened investor funding.

Edtech unicorn Vedantu laid off over 100 employees in early July 2022 as part of a business restructuring, marking its third round of layoffs this year. This follows earlier cuts of around 624 employees in May, bringing the total for 2022 to at least 724. The layoffs, affecting teams like sales and training, were driven by investor pressure to cut costs amid an economic downturn and a post-pandemic drop in user growth as schools reopened. Vedantu, which had about 5,900 employees in May, offered a two-month severance. The company, founded in 2014, had seen explosive growth during COVID but now faces a challenging market adjustment.