Introduction
Cuemath is a Bangalore-based edtech company that provides math learning solutions for K-12 students. Founded in 2013 by Manan Khurma, Cuemath has been steadily growing over the years, with several rounds of funding and accolades for its innovative methods of teaching mathematics.
Cuemath has built an excellent reputation in the education industry for its unique approach to mathematics education, focusing on conceptual learning via visual aids such as puzzles, games, and patterns. The company has built a vast network of teachers known as Cuemath Teachers who use an app to teach math to children online.
Layoffs
However, all of this success came to an abrupt halt when on 5th August 2023, the company announced that it would be laying off around 100 of its employees. The news came as a shock to many, as it was widely believed that Cuemath was one of the few edtech companies that were thriving in the post-pandemic environment.
Reasons for Layoffs
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According to media reports from an unknown source, the reason behind the layoffs is to restructure the company’s focus to better align with its long-term business strategy. The company’s management stated that the layoffs would primarily affect the non-core teams, such as the marketing and operations departments.
The layoffs represent around 10% of Cuemath’s total workforce, and the company has stated that they were a tough but necessary decision. The company has also stated that it will provide support to the affected employees through outplacement services, job postings, and severance packages.
In response to these layoffs, investors and stakeholders have shown mixed emotions towards them. Some have praised the move, as they believe it will help streamline the company’s operations and drive growth in the long run. Others have criticized the decision, stating that laying off employees during a tough job market is an insensitive move.
conclusion
Cuemath’s layoffs have not affected its positive reputation in the education industry. Still, it has caused some concerns among investors and other stakeholders about the direction the company is taking. Cuemath will have to carefully navigate these criticisms and lay out a clear plan for its future if it wants to maintain its position as a leader in the edtech industry.
