NEW DELHI: EdTech Major Unacademy has laid off 12 p.c of its personnel or over 350 workers in its newest spherical of task cuts.
Gaurav Munjalco-founder and CEO of Unacademy, introduced the newest layoffs in a Slack message to workers, experiences TechCrunch.
“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 used to be quoted as announcing.
“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.
Furthermore, in a message to workers, Munjal said that he is taking “complete responsibility for the way things have turned out”.
In November final yr, Unacademy laid off 10 p.c of its personnel or just about 350 workers, as investment wintry weather deepens for the Indian startup ecosystem.
Earlier this yr, Unacademy-run Relevel laid off 40 workers, or 20 p.c of its personnel, because it shifts its center of attention from the training industry to “tests product” and a brand new app known as NextLevel,
Meanwhile, any other edtech main BYJU’s has laid off additional 15 p.c of its workers from its engineering groups, as the corporate continues phased layoffs to stay growth-oriented in an international financial meltdown.
Gaurav Munjalco-founder and CEO of Unacademy, introduced the newest layoffs in a Slack message to workers, experiences TechCrunch.
“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 used to be quoted as announcing.
“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.
Furthermore, in a message to workers, Munjal said that he is taking “complete responsibility for the way things have turned out”.
In November final yr, Unacademy laid off 10 p.c of its personnel or just about 350 workers, as investment wintry weather deepens for the Indian startup ecosystem.
Earlier this yr, Unacademy-run Relevel laid off 40 workers, or 20 p.c of its personnel, because it shifts its center of attention from the training industry to “tests product” and a brand new app known as NextLevel,
Meanwhile, any other edtech main BYJU’s has laid off additional 15 p.c of its workers from its engineering groups, as the corporate continues phased layoffs to stay growth-oriented in an international financial meltdown.