Unacademy

Indian edtech giant Unacademy laid off approximately 250 employees in July 2024, marking the latest in a series of workforce reductions. This round affected about 100 staff in marketing, business, and product roles, and around 150 in sales. Since the second half of 2022, the company has cut a total of roughly 2,000 jobs. The layoffs are part of a restructuring effort aimed at achieving profitability, a necessary move as the industry faces a downturn following the post-pandemic reopening of schools. The Bengaluru-based startup, valued at $3.4 billion and backed by investors like SoftBank, is also reportedly in merger discussions with K12 Techno. This reflects broader challenges in the edtech sector, exemplified by the struggles of former leader Byju's.

Edtech unicorn Unacademy has laid off 12% of its workforce in its fourth round of job cuts within a year, as the company intensifies its push toward profitability amid a tough funding climate and a global economic slowdown. CEO Gaurav Munjal announced the decision via Slack, citing the need to operate in a "much leaner manner." Including this latest reduction, the total number of employees let go across Unacademy's group companies now exceeds 1,900. The impacted employees will receive severance pay equivalent to their notice period plus an additional month's salary. The Indian edtech sector has faced significant challenges since offline educational institutions resumed operations post-pandemic, with Unacademy reporting a consolidated loss of INR 2,848 crore in FY22 despite revenue growth.

Unacademy, an Indian edtech startup, has laid off 350 employees, representing about 10% of its workforce, as part of a second major round of job cuts in 2022. Announced in early November, this restructuring aims to reduce operational redundancies and accelerate the company's path to profitability amid challenging economic conditions. CEO Gaurav Munjal cited the need to build more efficient systems for leaner times, despite previous cost-cutting measures that had already lowered monthly burn. Affected employees will receive severance including notice pay, additional compensation, extended benefits, and placement support. The edtech industry in India has seen widespread layoffs this year as startups adjust to funding constraints and macroeconomic pressures.

In June 2022, SoftBank-backed Indian edtech unicorn Unacademy laid off another 150 employees, representing about 2.6% of its workforce. This primarily affected staff from its PrepLadder team, which it acquired in 2020, along with some sales personnel. The company framed the move as a result of a performance improvement program, denying it was a layoff, but the context points to broader cost-cutting efforts. This followed a larger round earlier in 2022, where Unacademy let go of around 600 employees (10% of its workforce) to reduce cash burn. The actions come amid a "funding winter" for Indian startups, a normalization of post-pandemic demand for online education, and significant financial pressures, as the company's net loss widened to Rs 1,537 crore in FY21 despite revenue growth.

Edtech startup Unacademy has laid off around 1,000 employees, including both permanent staff and contract educators, as part of a major cost-cutting initiative. This reduction, carried out over recent weeks, represents about 17% of its then 6,000-strong workforce. The layoffs, affecting roles in sales, business development, and content, stem from efforts to reduce cash burn amid a tightening funding environment and an economic slowdown. The Bengaluru-based company, valued at $3.4 billion, aims to achieve profitability by year-end while focusing on its core test-prep business and group firms.