After ed-tech startup Byju’s laid off a large number of staff, Unacademy followed suit, cutting off 10% of its employees. The change is part of the company’s ongoing attempts to lower monthly losses and operational costs.
Unacademy has laid off employees for the second time this year. In April, Unacademy laid off 600 employees, the majority of whom were educators/tutors and contractual workers.
Gaurav Munjal, the company’s CEO, apologized in an e-mail to employees for informing them that the company would have to lay off some employees. “This will affect approximately 10% of all Unacademy employees.”
“And if you are one of those affected, you will receive a full communication from HR within 48 hours,” the CEO of Unacdemy said in an e-mail.
“We are not unfamiliar with the severe economic difficulties that everyone is facing these days. The technical environment is going through a difficult phase, he says, “and things are becoming worse by the day.”
He expressed his sincere regret for failing to meet the commitment of no layoffs due to market challenges forcing the company to reconsider its decisions. In the letter, Munjal stated, “Funding has significantly slowed, and a significant portion of our core business has moved offline.”
