Collegedunia Layoffs: Education Portal Lays Off Around 100 Employees, Plans Further Job Cuts Across Departments To Streamline Operations and Reduce Costs, Says Report
Collegedunia, an education portal, is undergoing significant layoffs to streamline operations and reduce costs, affecting around 100 employees so far, while also hiring freshers at lower salaries to manage expenses.
New Delhi, July 13: Collegedunia, the education portal, is reportedly laying off its employees across its departments to streamline its operations and reduce costs. Reports suggest that the company started laying off its employees approximately a month ago, starting with the study abroad counsellors. Over the past few weeks, the layoffs have reportedly extended to other teams within the company, which means that employees from various departments have been affected by the job cuts.
As per a report of CNBC TV18, the education portal Collegedunia is said to be undertaking layoffs to automate its tasks and reduce costs. According to reports, around 100 employees have been laid off already and more job cuts are happening across different departments. Even employees who were hired within the past six months have also been dismissed. Additionally, the company has assured that all staff members who have been laid off will receive complete compensation and incentive payments. Unilever Layoffs: British Multinational Consumer Goods Company To Lay Off Around 3,200 Employees in Europe; Check Details.
According to reports, Collegedunia was founded in 2013 and currently has approximately 1,500 employees. It is an extensive search engine that provides information on higher education in India and abroad for students, parents, and industry players. The company's website offers a wide range of information, including details on over 20,000 colleges and 6,000 courses across various fields like engineering, medical, management, arts and more. It is estimated to have a monthly user base of 300 million. John Deere Layoffs Continue: World’s Largest Farm Equipment Maker To Let Go More 345 Employees Amid Economic Challenges, Effective From September 20.
Collegedunia is also reportedly hiring freshers to fill certain roles with low-pay cheques. It allows them to have new people joining the company but at a lower salary compared to the employees who are being let go. This strategy might help the company manage its workforce and control costs. The company has also shared 13 job openings on its LinkedIn page for different positions in various locations. Most of these job opportunities appear to be entry-level positions that require up to two years of experience. It indicates that the company is actively seeking new talent to join its team.
(The above story first appeared on LatestLY on Jul 13, 2024 06:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).