Unacademy layoffs: Edtech firm fires 350 employees

Edtech unicorn Unacademy has fired 10% of the workforce or about 350 employees in third such round of layoffs within a year.

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Unacademy CEO Gaurav Munjal pointed out the need to cut costs amid harsh economic conditions as the reason behind the layoffs.

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He said that the company needs to keep optimizing and building efficient systems for leaner and unprecedented times.

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Employees in July had been promised that the company will not lay off any more employees.

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The CEO apologized for the u-turn from his earlier statement in the latest note.

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Prior to this, Unacademy fired 150 employees in June after a performance improvement plan.

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