Unacademy has recently reduced its team size by about 250 employees. The edtech firm made this decision in an effort to improve efficiency and streamline its processes. This is not the first time that Unacademy has trimmed its workforce.
In March 2023, the company let go of about 12% of its employees and in May 2024, approximately 145 people were laid off from PrepLadder, a NEET PG preparation platform and part of the Unacademy group. It is not yet known how many people will be affected by these recent layoffs, but it is clear that the edtech company aims to focus on profitability and sustainability.
Unacademy has assured support for the impacted employees during this transition. In March 2023, Gaurav Munjal, co-founder of Unacademy, stated in an internal memo that the layoffs were necessary to make the business profitable. The affected employees were provided with severance equal to the notice period, an additional month’s salary, and accelerated vesting of a year if they had been with the company for at least a year.
Additionally, Unacademy is planning to merge with K12 Techno, a company that operates a chain of schools called Orchids International, and discussions regarding this merger are currently underway, as reported by Entrackr.
