EducationCA

Paper Layoffs

April 2023

Paper announced a layoff affecting 81 employees (3% of its workforce) in April 2023. The company operates in the Education sector.

People Affected

Percentage

Announced Date

Apr 17, 2023

About

Paper, an educational technology company, laid off 81 employees, representing roughly 3% of its total workforce and 15% of its corporate non-tutor team, on April 17, 2023. The layoffs were part of a proactive restructuring decision by the leadership to accelerate the building of a comprehensive Educational Support System. CEO Philip Cutler stated the move was made to focus the company's resources prudently and sustainably, aiming to broaden student support from kindergarten through graduation. Despite strong growth in tutoring, the restructuring is intended to better serve students in the long term, with the company noting it remains in a strong financial position.