After Byju’s, ed-tech startup FrontRow reduces 75% of workforce in cost-cutting push: Report
FrontRow, a learning platform for non-academic skills, has given the pinks slips to 130 staffers, including employees from engineering, product, sales and marketing teams. The job cuts are part of the company’s plan to focus on improving its spending regime.
In May this year, the ed-tech startup slashed 145 full-time and contractual jobs, and its headcount has cut to about 45 people after the second round of layoff.
He went on add that the company’s sales and marketing plans are not working as per the current delivery model, therefore the company has decided to retrench a large number of employees.
Worth mentioning here is that FrontRow in September last year raised $14 million as part of its Series A round, led by Eight Roads Ventures and GSV.
The financial daily cited Singh as saying that the belief in the market and the need is still robust, and there are a lot of people who want to get better at their passions and they have been vastly underserved in India and beyond. The company will continue to give them a solution though in a revamped avatar.
Founded in 2020, FrontRow provides training on non-academic courses, including music, singing, photography, cricket, film-making and so on by experts. These include cricketers Suresh Raina, Yuzvendra Chahal, Bhuvneshwar Kumar, and Bollywood singer Neha Kakkar.
Many experts are of the view that the global macro-economic crisis and the reopening of schools and colleges have plunged the ed-tech sector into a crisis. With falling valuations as well as slowing funding rounds have compelled the ed-tech industry to become leaner and meaner.
Ed-tech startups Unacademy, Vedantu, FrontRow, Lido, Frontrow among others have cumulatively retrenched thousands of employees this year.
