News > Vedantu to lay off 424 employees, blames 'scarce capital'

Vedantu to lay off 424 employees, blames 'scarce capital'

Ed-tech platform Vedantu laid off 424 employees today citing capital scarcity. In a blog post shared by their CEO, Vamsi Krishna, the announcement of laying off employees was made.

"War in Europe, impending recession fears, and Fed rate interest hikes have led to inflationary pressures with massive correction in stocks globally and in India as well," Krishna told Vedantu's employees in a blog.