Unacademy-owned edtech startup Relevel is laying off 40 employees, representing nearly 20% of its workforce, as the company shifts its focus from its core education business to a test product business and the newly launched NextLevel app. CEO Gaurav Munjal cited a lack of available roles for the affected employees following this strategic pivot. The layoffs, part of a broader trend in the Indian edtech sector, occurred in early 2023. Impacted staff will receive severance pay, including notice period compensation plus two additional months, along with accelerated vesting, medical insurance, and placement support. Unacademy has laid off over 1,000 employees across its group in the past year amid ongoing industry challenges.
