Unacademy Layoffs: Edtech Major Sacks 12% of Workforce Affecting Over 350 Employees in Its Latest Job Cuts Round
Edtech major Unacademy has laid off 12 per cent of its workforce or over 350 employees in its latest round of job cuts.
New Delhi, March 30 : Edtech major Unacademy has laid off 12 per cent of its workforce or over 350 employees in its latest round of job cuts. Gaurav Munjal, co-founder and CEO of Unacademy, announced the latest layoffs in a Slack message to employees, reports TechCrunch. Tech Jobs in India: IT Firm Vee Technologies To Recruit 3,000 Fresh Graduates in Next Few Months, Appoints Bhupendra Joshi As CHRO.
"We have taken every step in the right decision to make our core business profitable, yet it's not enough. We have to go further, we have to go deeper," Munjal was quoted as saying. Motorola Moto Edge 40 Press Images and Pricing Details Leaked Online; Check Out All the Details Here.
"Today's reality is a contrast from two years ago where we saw unprecedented growth because of accelerated adoption of online learning. Today, the global economy is enduring a recession, funding is scare and running a profitable business is key. We have to adapt to these changes, build and operate in a much leaner manner so we can truly create value for our users and shareholders," he added.
Moreover, in a message to employees, Munjal stated that he takes "complete responsibility for the way things have turned out". In November last year, Unacademy laid off 10 per cent of its workforce or nearly 350 employees, as funding winter deepens for the Indian startup ecosystem.
Earlier this year, Unacademy-run Relevel laid off 40 employees, or 20 per cent of its workforce, as it shifts its focus from the education business to "tests product" and a new app called NextLevel.
Meanwhile, another edtech major BYJU's has laid off further 15 per cent of its employees from its engineering teams, as the company continues phased layoffs to remain growth-oriented in a global economic meltdown.
(The above story first appeared on LatestLY on Mar 30, 2023 12:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).