10 April 2024 — Scaler, a homegrown edtech startup, has reduced its workforce by about 10% (150 employees) as part of a restructuring exercise aimed at long-term growth and sustainability.
Reasons for Job Cuts:
The restructuring primarily targeted roles in marketing and sales, with founder Abhimanyu Saxena emphasizing the company’s focus on strategic realignment rather than performance-based cuts.
Scaler has assured affected employees of support during the transition, emphasizing that the job cuts were not a reflection of individual performance but part of broader organizational adjustments.
The job cuts follow Scaler’s acquisition of Delhi-based Pepcoding, a move aimed at enhancing its business ecosystem. The startup, backed by investors like Sequoia Capital India and Tiger Global, had recently raised $55 million in a Series B funding round, reaching a valuation exceeding $700 million.
Conclusion:
Scaler’s restructuring reflects its strategic approach to adapt to market dynamics and ensure long-term sustainability, backed by significant investments and acquisitions to strengthen its position in the competitive edtech landscape.
