BENGALURU:
Edtech
startup
Unacademy
has laid off 250
staffers
in the latest round of
layoffs
across its units that include the mainstay entrance test preparation business and specialised medical postgraduate test prep business PrepLadder.
While about 100 of the affected staffers were fired from across departments, the rest 150 were from sales functions alone, sources in the know told TOI.
A spokesperson from the Bengaluru-based
startup
confirmed the layoff but did not comment on the specifics.
“As part of our ongoing efforts to streamline operations and enhance business efficiency, we have recently undergone a restructuring exercise. This was necessary keeping in mind the company's goals and vision for the year, as we focus all our efforts on sustainable growth and profitability,” the spokesperson said in a statement.
The latest round comes after multiple such exercises since 2022, a year that saw post Covid-linked showdown in edtech businesses such as Unacademy, Byju’s and Vedantu. In this year alone, it is the second known round, with the first reportedly at PrepLadder in May.
Last month, the SoftBank-backed company also saw its co-founder and chief technology officer Hemesh Singh step down after nearly nine years with the company.
Unacademy, which largely focuses on test preparation as a segment, is largely offline now. Over 2023, it saw many other high-profile exits ranging from chief operating officer Vivek Sinha and chief financial officer Subramanian Ramachandran.
The company started up as a YouTube channel by Gaurav Munjal, Singh and Roman Saini, and became an edtech platform in 2015. It last closed a $440 million funding round in August 2021, led by Singapore’s Temasek Holdings and valuing it at $3.4 billion.
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