Bangalore, 30th March 2023: According to an internal memo sent by CEO Gaurav Munjal, the ed-tech startup Unacademy declared another round of layoffs today (March 30, reducing its workforce by 12%, as reported by ET.
Munjal informed, “We have taken every step in the right direction to make our core business profitable, yet it’s not enough. We have to go further, we have to go deeper. Unfortunately, this has led me to take another difficult decision. We will be reducing the size of our team by 12% to ensure that we can meet the goals we are chasing in the current realities we are facing.”
This occurs one day after the company disclosed that it had separated CodeChef, a 2020 purchase, from its other assets. CodeChef is a competitive programming environment for both novice and experienced coders.
In two rounds of layoffs, the edtech firm fired 1,350 employees last year, and 40 employees at its subsidiary Relevel were fired in January of this year.