Edtech Company Pluralsight Lays Off 400 Employees

Citing the challenging economic environment, online education company for developers and IT professionals Pluralsight has announced to lay off 20 per cent of its global employees comprising about 400 workforce.

Taking the responsibility of the decisions that ended up firing 400 employees, CEO Aaron Skonnard in an email said, “I've spoken to all of you this year about the challenging economic environment we're operating in and how it has affected our business performance."

Unfortunately, these challenges have only accelerated in Q4 and, as a result, "today we are restructuring and reducing the size of our team, impacting roughly 20 per cent of our team members," he said on Monday.

Founded in 2004, Pluralsight had a net loss of USD 163.5 million in 2019 and USD 164 million in 2020, according to the US SEC documents. The CEO said that those impacted “can also look for additional communication from your executive about special All-Hands meetings for each organization later this week”.

“I’m sorry for the impact this will have on many of you, we’ve let you down during a difficult time," he added.

Pluralsight is an online education company that offers a variety of video training courses for software developers, IT administrators, and creative professionals through its website.

Recently, Vedantu has laid off another 386 employees from sales, HR, and content teams. This is the fourth round of layoffs undertaken by the edtech unicorn in 2022. The latest layoff exercise comes over a month after the startup acquired a majority stake in Karnataka-based test preparation platform Deeksha for USD 40 Mn. Vedantu currently has about 18 months of cash runway.