Unacademy, which is dotted as one of India’s finest high-profile ed-tech startups has announced its second round of layoffs, letting go of more than 150+ employees this time.
The Bengaluru-headquartered startup has confirmed the redundancies to Inc42, but doesn’t want to categorize them under layoffs. Most of the impacted employees are around company’s core businesses – Unacademy and Prepladder.
This news comes to light just after 2 months of their initial layoffs – Which comprised 10% of its workforce and around 600 employees.
The company strongly says that this round of redundancies has nothing to do with layoffs and this is part of their regular annual performance program. But, the impacted employees’ stories on LinkedIn say otherwise.
Unacademy is backed by SoftBank and tiger global. The startup scene in India for Ed-tech platforms had seen a sudden surge boosted by the pandemic and is coming to a full stop.
Ed-tech platforms across the globe are taking a major blow after the schools and institutions are back open again and has reversed their online adoption. Unacademu, Lido, Vedantu, and a few more in the Indian ed-tech scene have shown and expressed the troubling waters ahead.