Online higher education platform upGrad to downsize?

Amidst denials, company may let go a major chunk of its employees soon

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Upgrad may let go of hundreds of its employees in the days to come, reported
IANS. If the source is to be believed, people aware of the matter have said that
the edtech platform may let go of a major chunk of its employees, almost one-
third of them.

On the other hand, the company has denied any impending layoff- large or
small. In a conversation with IANS, a spokesperson from upGrad said, “We
categorically deny any vested interest or rumours about layoffs, large or small.
As we consolidate our M&As, there will always be an ongoing assessment of
both profile redundancy and performance”.

He further elaborated that in the last two months, upGrad had added over
2,000 people in the team with 200 being added just in the last two weeks.
Reportedly, as a part of their growth and expansion plans, the edtech platform
announced that it plans to hire over 1400 new employees by the end of March
2023.

The platform was in the news recently for its acquisition of corporate training
solutions provider, Centum Learning, in a share swap deal in September this
year.

UpGrad, which launched in 2015, boasts more than 3 million learners in more
than 100 countries, more than 300 university partners, and a strong business
with a clientele of 1,000 enterprises globally.

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