Unacademy lays off around 600 employees hoping to make a profit
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- Edtech platform Unacademy lays off around 600 employees
- The company said it had discussed with the people identified and separated
- Unacademy said this ensures they receive some additional benefits and a generous severance
Edtech platform Unacademy, which laid off about 600 employees, contract workers and teachers – about 10 per cent of its 6,000-strong workforce across the conglomerate – said on Friday that it would aim to become profitable by the end of the fourth quarter (Q4). is focused. This year in its core business, while investing in group companies for growth. The company said it had discussed and parted ways with the people identified, in accordance with their respective contracts.
“Based on the results of several assessments, a small subset of employee, contractor and teacher roles were reevaluated due to role redundancy and performance, as is typical for any organization of our size and scale. The vast majority of affected roles is the result of that process, and the efficiency we aim to drive across the broader business, a company spokesperson said in a statement.
The company said it ensures they receive some additional benefits and a generous severance. Started in 2010 as a YouTube channel, Unacademy is one of the largest learning platforms with 60,000 registered teachers and a growing network of over 62 million learners. With over 10,000 cities providing education to learners in 14 Indian languages, Unacademy Group includes Unacademy, Graphy, Relevel and CodeChef.
“We are extremely excited about our core test-prep business and the growth of our group companies in Relaul, Preplder and Graphi. Our test-prep business is growing more than 50 percent (on-tier) and our The EBITDA percentage is also getting better,” a company spokesperson said. There are currently over 1.8 million registered users on the Relwell platform.
“However, the most notable achievement is that Relewell has made offers totaling $2 million to candidates who have passed the Relwell test,” the spokesperson said.
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