Mumbai-based ed-tech startup LEAD laid off around 60 employees earlier this week, in what was the second round of job cuts at the startup within 5 months, sources told Inc42.
The layoffs mostly impacted employees from the tech and product teams, the sources added. Two products of the startup – Nucleus and Student App – have been struggling, the sources said.
In a statement shared with Inc42, LEAD said, “We have grown 2X this year and are hiring for growth. If projects don’t meet success criteria or don’t fit our strategic roadmap, teams are either re-assigned or asked to seek other opportunities. This is a regular business activity and a normal churn of 1-2 % in an organization of 2,000 people.”