Tiger Global-backed edtech company Scaler has begun laying off employees to reduce redundancy in roles, moneycontrol reported.
Around 150 employees will be impacted by the layoffs which is about 10 percent of the total workforce in marketing, sales and other departments of the company. Scaler has around 1500 employees in total.
Scaler had earlier said in a media interview, that it increased its workforce by over 150 percent to around 2000, as compared to the 800 employees it had in February 2022.
Abhimanyu Saxena, Co-Founder, Scaler and InterviewBit told Moneycontrol, “We have designed a new way of working to be able to achieve sustainable growth while delivering the best learning experience and outcomes for our learners – something that we’ve always been committed to. As part of this restructuring, we identified some functions/roles, primarily in marketing and sales, in the company that we had to part ways with.”
Working professionals have been exploring lifelong learning modules and the demand for upskilling courses on edtech platforms has been immense. This is in contrast to the online learning options like K-12 and test prep that have seen declines due to the funding winter and post-covid pullback.
As per reports, Scaler was last valued at $710 million in Feb 2022 during its last funding round.
Saxena added the the layoffs was not a decision taken based on performance. He said that all those affected will be provided with necessary support to allow for a smooth transition.
“Our employees play a strategic role in our mission of change for the Indian tech ecosystem through our varied education solutions, and we will continue to invest in their growth as we work together to transform the sector,” Saxena told Moneycontrol.