Udacity restructures operations, lays off 20 percent of its workforce
Udacity, the $1 billion online education startup, has laid off about 20 percent of its workforce and is restructuring its operations as the company?s co-founder Sebastian Thrun seeks to bring costs in line with revenue without curbing growth, TechCrunch has learned. The objective is to do more than simply keep the company afloat, Thrun told [?]
- Udacity, the $1 billion online education startup, has laid off about 20 percent of its workforce and is restructuring its operations as the company's co-founder Sebastian Thrun seeks to bring costs in line with revenue without curbing growth, TechCrunch has learned.
- The 75 employees, including a handful of people in leadership positions, were laid off earlier today as part of a broader plan to restructure operations at Udacity.
- Udacity, which specializes in "nanodegrees" on a range of technical subjects that include AI, deep learning, digital marketing, VR and computer vision, has been struggling for months now, due in part to runaway costs and other inefficiencies.
- Singh conducted a review of the business, including its operating model and Udacity's primary costs such as workforce, marketing and other non-workforce expenses.
- As a result of the review, Udacity has laid off more staff, streamlined operations and programming and cut other costs.