Edtech unicorn Vedantu has laid off 120 contract-based and 80 full-time employees constituting 3.5% of Vedantu's 6,000-people workforce. "Academics or assistant teachers were being reevaluated. We have an annual contract, and at the beginning of every academic year, we follow a process of load rebalancing," Vedantu said. Recently, edtech startups Unacademy and Lido also announced layoffs.