The anonymous sources said that Teachmint, a platform for managing classrooms, gave the fired workers a three-month severance package and health insurance. The impacted employees’ ESOPs (employee stock ownership plans) would also be expedited by Teachmint, and the laid-off workers may seek other positions within the company, the sources claimed.
We have reorganized several teams in an effort to create long-term efficiencies and address redundancies. Unfortunately, this has had an influence on several roles . A Teachmint spokeswoman told Moneycontrol that the affected staff had been told ahead of time and that the company was helping them as much as possible without giving any other details.
Teachmint is a mobile-first, video-first teaching platform that aids in the digitization of classrooms. Mihir Gupta, Payoj Jain, Divyansh Barodia, and Anshuman Kumar started it in 2020. In addition to Lightspeed Venture Partners, the startup has raised $118 million to date from international venture capital firms such as Rocketship.VC, Vulcan, and Better Capital. The most recent estimate was $500 million. \Do you think this was necessary, or could it have been avoided ?
