Paper, an edtech unicorn focused on online tutoring for K-12 students, has laid off staff. The cuts come as edtech startups are facing increasing pressure amid a downturn.
The Canadian online tutoring startup Paper has laid off 106 employees, or 4% of staff, Insider has learned. The cuts affected tutors and management teams across the board, according to an employee affected by the layoffs and recent LinkedIn posts from former employees. This is Paper's second round of cuts this year, after 81 employees, or 3% of staff were let go in. These figures don't distinguish between tutors, who were often part-time and full-time operational staff, the employee clarified, saying that more full-timers were likely affected.
Employees were told about layoffs in a company-wide Zoom call yesterday afternoon, and those affected received an email immediately afterward, the employee said. Laid-off employees were also removed from the company Slack and email by 4:00pm that day. Paper reached unicorn status in February 2022 after raising over $270 million in Series D funding led by
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Photos: A Seattle tiny home designed to maximize sunlightThis tiny home built in a Seattle backyard was designed to maximize sunlight in one of the rainiest cities in America — see inside
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Palantir CEO urges US 'must not grow complacent' on AI weaponsBillionaire CEO of military technology supplier Palantir advocates for AI weapons: 'We must not grow complacent'
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside TikTok's shopping pitch to marketersInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Elon Musk's 'X' sign already removed from San Francisco headquartersElon Musk's 'X' sign removed from San Francisco headquarters after complaints from city officials and neighbors over its blinding lights: report
Source: BusinessInsider - 🏆 729. / 51 Read more »