Vedantu Laid off 400 Vedans From Its Education Firm

Vedantu CEO Vamsi Krishna made one of his toughest decisions this Wednesday and said he has laid off 424 Vedans from his company Vedantu. This Indian startup blamed external factors for causing a significant financial burden on its financial expenses.

Out of 5900 Vedans, 424 teammates of this education company had to be laid off, about 7% of the total workforce. The CEO posted the same news on the official website and called it the toughest decision of his professional life. Mr. Krishna did not hesitate to blame external factors and the environment. Such as war happening in Europe, hikes in Fed rate interest, and fear of recession. Because of these reasons, worldwide economies are affected, including India itself. 

The company might have doubts about the scarcity of upcoming quarters in the current situation. Because the impact of COVID-19 is decreasing, schools are opening, and offline coaching is becoming available. He also added they would moderate the 9X growth of the company and said they wish that this situation would not occur again in the future. 

He admitted this laid-off of more than 400 employees happened because of decisions he might have made. And there is no other option to deal with the current situation. He also said there is no easy way to say this news, but he also said sorry for this tough decision. More than 7% of Vedantu's workforce has to find new jobs or ways to earn money online or offline to meet financial needs. 

Based on Tiger Global, the valuation of Vedantu was $1 Billion. And during the recession, most startups do lay off to raise a fund of $35 Billion. Also, this uncertain environment in the worldwide economy is becoming a threat for businesses and entrepreneurs. Because they may have to run a business due to a shortage of funds. 

It is a matter of concern because most Indian startups have overvalued valuations even when they benefit from the government and government bodies. Many news agencies experts gave a similar statement and said it was a serious concern. 

However, if you also lost your job either from Vedantu or another company, it's time to find other employment opportunities to start making money again. But this time, do not forget to diversify your earning sources to minimize risk and save yourself from such a situation. On our blog, we have shared hundreds of articles on making money online, side hustles, and other ways to make money. You can read these articles and try to build some stable earning streams. 

Here are some other articles that can help you generate cash for full-time money. 

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