Unacademy had laid off about 1,350 workers in two rounds final yr — April 2022 (1,000 staff) and November 2022 (350 workers).
It comes a day after the corporate determined to hive off its coding studying platform CodeChef
In the newest tech layoffs, edtech startup Unacademy on Thursday introduced to put off 380 workers, or 12 per cent of its workforce, in response to media reviews quoting an inside memo despatched by CEO Gaurav Munjal. It comes a day after the corporate determined to hive off its coding studying platform CodeChef.
In the memo, Munjal stated, “We have taken each step in the correct path to make our core enterprise worthwhile, but it’s not sufficient. We should go additional, we’ve to go deeper. Unfortunately, this has led me to take one other tough choice. We will probably be decreasing the dimensions of our group by 12 per cent to make sure that we will meet the objectives we’re chasing within the present realities we face.”
The SoftBank and General Atlantic-backed company had laid off about 1,350 employees in two rounds last year — April 2022 (1,000 workers) and November 2022 (350 employees). In January this year also, its subsidiary Relevel also let go of 40 employees.
Apart from this, In June 2022, the company had cut management salaries and done away with perks like business class travel and free food for employees to cut costs.
There have been reports of plans to merge Unacademy with Byju’s-owned Akash Institute. However, BYJU’s has denied reports that it is considering a merger of rival Gaurav Munjal-run Unacademy into Aakash Educational Services.
“We strongly deny that BYJU’S is considering a merger of Unacademy into Aakash Educational Services. As a parent company, BYJU’S is committed to investing in the growth of Aakash Educational Services, which is growing at more than 50 per cent year-on-year,” a BYJU’s spokesperson has stated.
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