Multiverse Layoffs
October 2023
Multiverse announced a layoff affecting 0 employees in October 2023. The company operates in the Education sector.
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Oct 25, 2023
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Multiverse, the UK-based edtech unicorn founded by Euan Blair, has laid off around 40 employees over the past year, significantly impacting its 'early talent' team focused on placing school leavers into apprenticeships. This restructuring, part of a shift toward upskilling existing corporate employees, came after the company missed revenue targets in early 2023 and moved to cut costs amid an economic downturn. The layoffs, which have drawn criticism over a perceived "cut-throat" culture, reflect broader challenges as the once high-flying startup, valued at £1.36 billion in 2022, pivots from growth to profitability in the competitive education technology sector.
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