EducationGB

Multiverse Layoffs

November 2023

Multiverse announced a layoff affecting 0 employees (5% of its workforce) in November 2023. The company operates in the Education sector.

People Affected

Percentage

Announced Date

Nov 28, 2023

About

In late November 2023, the UK-based edtech unicorn Multiverse announced layoffs affecting up to 44 employees in the United States, representing nearly a third of its 100-person US workforce. The company, which provides apprenticeship and upskilling programs globally, cited missed revenue targets and a strategy that hadn't evolved quickly enough in the US market as the primary reasons. This reduction follows a broader trend of gradual team reductions over the past year as the company shifts focus toward corporate upskilling. Despite these cuts, Multiverse retains a global team of approximately 850 employees. The layoffs come amid significant financial challenges, with the company reporting losses of £41 million for the fiscal year ending March 2023.