Unacademy is reducing team size by about 250. The edtech firm has let go these employees as part of an attempt to improve efficiency and stream processes.
This is not the first time that Unacademy is trimming its workforce. In fact, the fourth round of layoffs took place in March of 2023, when it had let go about 12 per cent of its workforce. A little over a year later, in May of 2024, about 145 people were let go from PrepLadder, which is NEET PG preparation platform and part of the Unacademy group.
Ultimately how many people will be affected by this restructuring exercise is yet to be known. However, it is clear the edtech company wishes to focus on profits and sustainability.
The company has assured support to the impacted employees through this transition. When the March 2023 layoffs happened, Gaurav Munjal, co-founder, Unacademy had reportedly conveyed to the staff via an internal memo that the move was necessary to make the business profitable. At the time, the laid-off employees were given a severance equal to the notice period along with an additional month’s salary. They were also granted accelerated vesting of a year if they had been with the company for a minimum period of a year.
Interestingly, Unacademy is planning to merge with K12 Techno, a firm that operates a chain of schools called Orchids International. Talks are underway, as was reported by Entrackr.
