New Delhi, July 3: After reported layoffs of around 250 employees in the latest job cuts, edtech firm Unacademy Co-founder and CEO Gaurav Munjal on Wednesday denied the reports of a possible merger or an outright acquisition, saying "ignore the rumours".

"There is a lot being said about Unacademy currently," Munjal wrote in a post on X. He further said that the edtech firm have its best year in terms of growth and profitability and many years to run the company. "To set the record straight, Unacademy will have its best year in terms of growth and profitability. We also have many years of runway. We are building Unacademy for the long run," the CEO said. Unacademy Layoffs: Online Educational Platform Lays Off 250 Employees From Product, Sales, Marketing Department; Check Details.

As per reports, Unacademy has approached coaching institute Allen, edtech firm Physics Wallah, education services company K12 Techno and other large education coaching companies. According to TechCrunch, citing sources, the edtech firm will be letting go of 100 employees from marketing, business and product, and about 150 in sales.

The layoffs bring Unacademy’s total job cuts to around 2,000 since the second half of 2022. Last month, Munjal, in a post, commented on edtech firm Byju's fall. He said that Byju Raveendran, Founder and Group CEO of Byju's, faced setbacks as he put himself on a pedestal and stopped listening to anyone. Tech Layoffs 2024: More Than 1,00,000 Employees Laid Off Since January 2024, Around 41,000 People Lost Their Jobs in June Alone, Says Report.

"Byju failed because he didn’t listen to anyone. He put himself on a pedestal and stopped listening. Don’t do that. Never do that. Don’t listen to everyone but have people who can give you blunt feedback," Munjal said. "You might not always like the feedback, but take the feedback and act on it," he added.

(The above story first appeared on LatestLY on Jul 03, 2024 05:51 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website