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As part of a cost-cutting initiative aimed at streamlining operations and improving financial efficiency, edtech startup Unacademy has terminated 250 employees, as reported by CNBC-TV18.
According to the report, the recent layoffs have affected staff across various departments, including marketing, sales, and product development while some of the sources cited in the report stated that approximately 100 employees were let go due to underperformance in sales.
Although, last year in March, Unacademy downsized its workforce by about 10-12% due to a slowdown in its online business growth, over the past two years, the company has laid off around 2,000 employees through various restructuring efforts.
Source: Social Samosa
