Teachmint Layoffs

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Teachmint, a Bengaluru-based edtech startup backed by Lightspeed, has laid off over 70 employees in its second round of job cuts, conducted on May 4, 2023. This follows a previous round five months earlier where around 45 staff were let go. The layoffs, part of a restructuring effort to improve operational efficiency, primarily affected talent acquisition, tech, support, and quality analyst roles. The company, which operates in the competitive edtech industry, is facing significant financial challenges, with its net loss surging 24 times to INR 131.7 crore in FY22 amid rising costs and revenue pressures. Teachmint is offering a severance package of three months' salary to impacted employees.

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