Paper, a learning platform for students, announced today that it is laying off 106 employees, or about 4% of its workforce. The layoffs come as the company faces shifting market conditions in the education sector.
In an email to employees, Paper’s founders said that the company has “witnessed an outstanding increase in our product engagement and seen significant academic outcomes delivered by our product across our partner communities.” However, they said that “like many sectors, education is experiencing shifts in market conditions.”
As a result, Paper is “optimizing our investments and aligning our organization for long-term sustainability.” The layoffs will affect employees across various departments, and the company said that it is providing severance packages and other assistance to those who are affected.
The layoffs come at a time when the education sector is facing a number of challenges. School districts are facing budget cuts, and many families are struggling to afford tuition. As a result, some schools are looking for ways to reduce costs, and this could lead to more layoffs in the education sector.
Paper is not the only company that has announced layoffs in recent months. Other tech companies, such as Meta and Twitter, have also announced layoffs as they face economic headwinds.
The layoffs at Paper are a sign of the challenges that the education sector is facing. It remains to be seen how the company will weather the storm, but the layoffs are a setback for a company that was once seen as a rising star in the education technology space.
