Relevel, an ed-tech platform run by Unacademy, has laid off 20 per cent of its workforce. This means almost 40 employees of the company are fired.
This decision comes as the focus of the company shifts from the education business to testing products and a new app called NextLevel.
Unacademy’s co-founder and CEO, Gaurav Munjal, said in an internal memo that the remaining 80 per cent of Relevel’s team will be transferred to other departments of the Unacademy Group.
Munjal wrote, “We will have to let go of around 20 per cent (around 40 people) of the team because of the lack of availability of roles for them.”
The laid-off employees will receive the same benefits that were given to current employees in November. The package includes severance pay equivalent to the notice period and an additional two months of pay, accelerated vesting of benefits, medical insurance coverage, and support in finding a new job.
In November 2022, Unacademy laid off 350 employees, which is nearly 10 per cent of its workforce.
Munjal further said that the company, Relevel, will be shifting its focus from the education business in the upcoming months to focus completely on its test product and the newly launched app called NextLevel.
The existing ‘learner cohorts’ won’t be impacted, and Relevel’s team will continue to provide high-quality learning experiences and outcomes to the learners enrolled in those, according to Munjal’s statement.
The CEO also said that the core team of Relevel will focus on building NextLevel.