India-based educational platform WhiteHat Jr, which edtech major Byju’s acquired in 2020, has cut 300 of its full-time staff as the country’s edtech scene sees continued restructuring to help reduce costs, The Economic Times reported.
Most of those affected by the layoffs were working in WhiteHat Jr’s code-teaching and sales teams, while eight of them were from the company’s office in Brazil. The edtech firm entered the South American market in April last year through Future School, a Byju’s personalized offering.
Affected employees were offered a month’s salary as part of their severance packages.
A spokesperson for WhiteHat Jr told The Economic Times that the move comes as the company looks to optimize its team to “accelerate results” and position the firm for “long-term growth.”
The development follows WhiteHat Jr posting a loss of almost 17 billion rupees (US$214 million) for the financial year 2021, the report noted, citing filings with India’s Ministry of Corporate Affairs.
The company is the latest in a wave of startup layoffs this year, which also saw other edtech firms such as Unacademy Group and Frontrow falling victim.
See also: Tracking layoffs across Asia’s startup ecosystem (Updated)
Currency converted from Indian rupees to US dollar: US$1 = 79.01 rupees.
Editing by Lorenzo Kyle Subido
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