Latest News | Physics Wallah May Lay off Up to 120 Employees

New Delhi, Nov 19 (PTI) Edtech firm Physics Wallah may lay off up to 120 employees due to performance issues, according to the company.

The company in a statement said that less than 0.8 per cent of its total workforce will be impacted due to the performance review exercise.

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"At PW, we regularly assess performance through mid-term and end-term cycles. For the cycle ending in October, less than 0.8 per cent of our workforce, ranging from 70 to 120 individuals with performance concerns—may be asked to transition.

"Our primary focus remains on fostering a dynamic, high-performing team. We plan to hire an additional 1,000 employees in the next six months," PW, CHRO, Satish Khengre said in a statement.

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The company has around 12,000 employees.

Several edtech companies, including unicorns like BYJU'S and Unacademy had hired excess staff to meet the sudden spike in demand for online classes during the COVID period.

This is the first mass lay-off that has been announced by Physics Wallah (PW).

"We deeply value the dedication of our existing employees and recognize their integral role in shaping the future of education technology," Khengre said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)