Saturday, December 3, 2022

As education heads back to classrooms, edtech companies show employees the door - Shohini Mitter, Business Today

Edtech was one of the biggest beneficiaries of the pandemic-induced lockdowns, managing to grow at breakneck speed through 2020 and 2021. With schools and offline coaching centres shut due to Covid-19-related restrictions, India’s 260-million-odd student population took to online learning by the hordes. But come 2022, things would change dramatically. Without the cushion of venture capital and the screen time of locked-down learners, the plans of India’s edtech start-ups have gone haywire. From mass layoffs to suspension of marketing spends to other cost-cutting exercises—one start-up, a unicorn no less, has even stopped providing complimentary snacks and meals in its offices—online education firms are clutching at the last straws for survival.