Gostudent apparently lays off hundreds of employees

The tutoring platform is said to have dismissed around 350 employees. Employees from the customer service department were particularly affected.

The edtech Gostudent is said to have made hundreds of employees redundant, according to the Handelsblatt reported. This is already the second wave of redundancies within three months. While around 2000 employees were still working for the tutoring platform in May, there are now only around 1300. 350 employees are said to have been made redundant in the current wave of redundancies. The company has not yet confirmed this figure.

The reason for the redundancies is the economic downturn, which is having a negative impact on the company's plans. According to Handelsblatt, Gostudent may be facing closure in the USA, Sweden, Russia and Canada. The edtech could also withdraw from Latin America. There have been accusations within the company that the management team has exaggerated its growth ambitions.

Felix Ohswald and Gregor Müller founded Gostudent in 2016. The Austrian start-up offers a platform that connects tutors with students. The tutoring sessions take place via video conference. In January of this year, the company received 300 million euros in a financing round. As a result, the company is said to have planned for 250 percent growth. This target has since been reduced to 80 percent.