Scaler adapts to market shifts: Trims 150 sales and marketing roles
BENGALURU : Ed-tech startup Scaler has laid off about 150 employees, constituting 10% of its workforce, as part of a restructuring initiative, according to two people aware of the development.
A majority of those affected were from the sales and marketing teams, said one of the two people cited above.
In response to Mint’s queries, Abhimanyu Saxena, co-founder of Scaler and InterviewBit, confirmed the development.
“At Scaler, we’ve always believed that education is a primary human need, more so with tech education. It is imperative that we look at how we operate for long-term growth and sustainability. As part of this, we have designed a new way of working to achieve sustainable growth, while delivering the best learning experience and outcomes for our learners—something that we’ve always been committed to,” he said.
“As part of this restructuring, we have identified some functions and roles, primarily in marketing and sales, which we had to part ways with. I want to reiterate that this was not a performance-driven decision, and assure all those affected are provided with necessary support to ensure a smooth transition.”
“Our employees play a strategic role in our mission of change for the Indian tech ecosystem through our varied education solutions, and we will continue to invest in their growth as we work together to transform the sector,” he added.
Established in 2019, Scaler offers online upskilling courses to technology professionals. Its investors include Tiger Global, Lightrock India, Surge and Peak XV Partners.
The startup’s losses rose by 90% from ₹174 crore in FY22 to ₹330 crore in FY23, while its revenue surged 388% from ₹65 crore to ₹317 crore during the period under consideration.
The development comes at a time ed-tech platforms are grappling with growth challenges in the post-covid era, with learners increasingly returning to offline setups. For instance, Unacademy has laid off a large number of employees in the past two years, while PhysicsWallah sacked around 150 employees last November.
News website Moneycontrol first reported the development.
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Published: 10 Apr 2024, 04:31 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.