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Outschool laid off a quarter of staff, or 43 people, earlier this week, according to an e-mail obtained by TechCrunch. The edtech company, last valued at $3 billion, confirmed the layoffs over email, citing a focus on core capabilities as “growth has come back down to earth.”
The e-mail sent to staff was even more direct. “The truth is the layoffs in our sector are widespread for a reason,” Amir Nathoo, the co-founder of edtech unicorn Outschool, wrote in an email sent to staff. “The funding atmosphere has been dramatically impacted by the anticipation of a recession, higher interest rates an...
