Edtech startup Camp K12 sacks 70% of staff: Report
Edtech startups in India have laid off thousands of employees in the past year. Notably, SoftBank-backed Unacademy, Tiger Global-backed Vedantu, and edtech decacorn BYJU'S downsized their workforce.
Edtech startupis the latest online learning company to downsize its workforce as students return to classes and venture capital firms close the funding tap. The Gurugram-based startup reportedly laid off 70% of its workforce.
According to a report by The Morning Context, the coding edtech firm has refused to pay dues to its staff.
YourStory could not independently verify the report.
Founded in 2010 by Anshul Bhagi, Camp K12 connects students from kindergarten to 12th grade, providing access to teachers for interactive, gamified, and live-learning courses for STEAM (Science, Technology, Engineering, the Arts and Mathematics) subjects.
Edtech startups in India have laid off thousands of employees in the past year. Notably, SoftBank-backed Unacademy, Tiger Global-backed Vedantu, and edtech decacorn BYJU'S—valued at $22 billion—have all downsized their workforce.
In January this year, edtech startup Unacademy also laid off 20% of employees from its subsidiary, Relevel.
Earlier this month, edtech unicorn BYJU'S conducted a fresh round of layoffs, eliminating 900-1,000 jobs or more from across teams and job functions, people familiar with the developments told YourStory.
The cuts largely affected the marketing, design, logistics and tech teams in India, and product teams of the international business.
Last year, the Byju Raveendran-led startup sacked around 2,500 employees.
Edited by Kanishk Singh