Layoffs
Teachmint lays off 45 employees
By Startup Enthusiast ·
- Date
- Company
- Teachmint
- What it does
- First round of job cuts
- Kind
- Layoffs
- Based in
- Bengaluru
What they do
Teachmint let go of about 45 people, roughly 5 percent of its staff, across several departments in a restructuring
What happened
Affected staff were offered three months of severance pay, health cover and faster vesting of their employee stock options
Why it matters
The cuts came as the wider edtech sector faced a funding slowdown in late 2022
The details
- About 45 employees, nearly 5% of staff, were laid off in December 2022.
- The company called it a move towards long-term efficiency.
- Severance of three months and health cover were offered.
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