Unacademy Layoffs
June 2022
Unacademy announced a layoff affecting 150 employees (3% of its workforce) in June 2022. The company operates in the Education sector.
150
3%
Jun 18, 2022
About
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.
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