Edtech company Unacademy has laid off about 250 employees across departments, including 150 in sales, amid reports of a potential merger with another edtech firm, people with direct knowledge of the matter said. They added that 100 employees were laid off as part of a recent restructuring exercise, while the rest were performance-based layoffs for the year.
An Unacademy spokesperson confirmed the development and said, “As part of our ongoing efforts to streamline operations and enhance business efficiency, we have recently undergone a restructuring exercise. This was necessary keeping in mind the company’s goals and vision for the year, as we focus all our efforts on sustainable growth and profitability. Consequently, some roles have been impacted. While this transition won’t be easy, we will be supporting all impacted individuals.” The company did not confirm the number of layoffs in this round.
News website The Financial Express was the first to report the development.
This is a developing story. Check back soon for more updates.