- Big edtech players, who were once on a hiring spree, are now laying off their employees to sustain their hybrid model in the market.
- However on the contrary, the edtech sector had created more than 75,000 jobs in India in the last five years
- These big edtech players have laidoff in the last few months as online learning is again shifting to offline.
The schools and colleges in India have opened due to low COVID cases being reported in the country. This has led to decrease in the demand for online learning and therefore, edtech companies in India are facing a setback.
Big edtech players, who were once on a hiring spree, are now laying off their employees to sustain their hybrid model in the market.
The edtech sector created more than 75,000 jobs in India in the last five years and also helped in mitigating the job crisis during COVID-19 pandemic, revealed an analysis by the newly-formed Indian Edtech Consortium (IEC).
“Over 50,000 professionals are currently part of the EdTech ecosystem. The accelerated employment opportunity created by EdTech, which allows Indian professionals to create value globally, is particularly evident in the context of Covid-19 induced job losses in 2020,” said Internet and Mobile Association of India (IAMAI) in a statement quoting IEC data.
The online higher education and learning market is poised to reach $5 billion by 2025, according to a Redseer report.
These big edtech players have laid off in the last few months as online learning is again shifting to offline: