Unacademy, the edtech unicorn, will be letting go of 40 employees from its upskilling platform Relevel, as the division will now shift focus to test products from education business, CEO Gaurav Munjal told employees in an internal mail on Tuesday.
According to the report, Gaurav Munjal said that the company will lay off 20 percent (about 40 people) of Relevel’s team. Whereas, others will adjust in other businesses of Unacademy Group. The email states that affected employees will receive the same benefits that were extended to existing employees in November. Under this, in addition to the equivalent of the notice period, an additional two months’ salary will be given. It will also provide medical insurance and placement support to the affected employees.
The report suggests that Relevel’s core team will focus on building NextLevel, which was launched last month as a product that would take on LinkedIn. Let us tell you that Relevel is a hiring platform.
Last year media reports claimed that Unacademy had fired 1000 employees in April. After this, 350 more employees were dismissed in early November. Unacademy founder Munjal blamed lack of funding for the layoffs.