Unacademy, An Edtech Business, Terminates 150 More Workers.

According to the sources, Unacademy has mostly let go of workers from PrepLadder and Unacademy, the Group's two main businesses.

Popular edtech business Unacademy has let go of over 150 staff members in a new round of layoffs, claiming poor performance. Employees in the sales and operations departments have been let off by the company, Inc42 has exclusively learned. According to reports, the edtech business is helping the impacted employees with outplacement.

According to an Inc42 report, Unacademy has fired off workers mostly from Unacademy and PrepLadder, the group's two main businesses. In an effort to increase profitability, the corporation blamed the employees' termination on their subpar performance.

The second round of layoffs appears to have occurred two months after Unacademy let go nearly 10% of its workforce, or roughly 600 full-time and contract workers from various areas. Unacademy has acknowledged the most recent round of layoffs, but has refrained from using the word "layoff."

The edtech startup issued the following comment to the publication: "Unacademy has not executed any layoffs, and we vehemently refute the information since it is untrue. Our performance review process's openness and objectivity are crucial components of the company's culture of high performance and transparency. As is typical for any organisation of our size and scope, a relatively tiny portion of the workforce (2.6%) was placed on a performance improvement programme based on the results of the most recent evaluation. PIP, a normal procedure in any organisation, is what caused these individuals to leave.

Unacademy is one of the numerous Indian businesses struggling to remain competitive. Vedantu, another edtech business, had also laid off about 424 workers. Employees were notified of layoffs by email from the company CEO, Vamsi Krishna.

Out of 5900 Vedans, 424 of our coworkers, or around 7% of our firm, will be leaving with us, according to Krishna's blog post. It was a very tough decision for V to make, and Krishna added, "I want each Vedan to understand why V had to take this decision and what it means to you and the future of Vedantu." Vedantu laid off nearly 200 workers during the first wave of layoffs, while 424 workers lost their employment during the second round.

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