Viennese tutoring start-up GoStudent could lay off more than 200 of its 490 employees shortly before Christmas, trade union GPA warns. She is currently increasingly confronted with accompaniment cases due to terminations and advises not to sign an amicable termination of the employment relationship unchecked.
“Please come to us in the union and seek advice before you possibly stumble upon legitimate claims,” said GPA president Barbara Teiber. “Informing almost half of the working population a few days before Christmas that the turn of the year will bring unemployment is a fatal procedure. If management has overburdened itself with expansion efforts, then job cuts cannot be the first alternative,” Teiber criticized in a broadcast on Wednesday.
The American media site “Business Insider” had previously reported, citing internal sources, that GoStudent could downsize for a second time. When asked, the company said it would not comment on the union’s figures.
GoStudent had skyrocketed in the corona pandemic with online tutoring and was valued at 1.4 billion euros in June 2021 when investors Softbank and Tencent entered the company. In January 2022, a new financing round increased the value to three billion euros.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
