Chennai-based edtech startup Skill-Lync has again laid off employees — this time nearly 225 employees or 20 per cent of its workforce — to cut operational costs.
Skill-Lync co-founder Suryanarayanan Paneerselvam on Thursday confirmed fresh layoffs to TechCrunch, saying the move was to “streamline operations and limit future content and production investments”.
“This decision was not taken lightly, and we have done our utmost to ensure that the process was as transparent and fair as possible for the employees involved,” he was quoted as saying in the report.
In April, Skill-Lync laid off at least 400 employees as it consolidated operations across Chennai, Bengaluru and Hyderabad amid global macroeconomic conditions.
Launched in April 2015 by SuryaNarayanan and Sarangarajan V, the edtech upskilling startup aims to address the lack of quality and application-based learning in the undergraduate engineering education system.
The earlier layoffs had impacted sales, marketing, tech and talent acquisition teams.
“Given the macroeconomic conditions, we’ve decided to moderate our growth expectations and slow down some of our projects focused on the future,” SuryaNarayanan had told IANS.
In the existing business, the company changed the delivery model to provide better learning outcomes using a combination of technology and experts.
2023071338722
