New Delhi, Aug 17 : Following a report that said that the edtech giant Unacademy had laid off its employees of its job-search platform Relevel The company’s Founder and Chief Executive Officer Gaurav Munjal told reporters on Wednesday that there no layoffs. “No layoffs.We’ve moved certain team members to other businesses of the Group though.The team worked really hard to have a place that is suitable for all,” Munjal tweeted.
A Relevel spokesperson confirmed to IANS the school has “absolutely no layoffs taking place within the Unacademy Group”.
“At Unacademy, we are striving for the goal of profitability as our primary goal and we are ensuring that every employee has an opportunity to succeed within the Group,” said the spokesperson for the company.
“Some employees of Relevel were transferred to open positions within the Group where their talents and goals align with the new position.We reiterate our firm commitment of no layoffs in the Unacademy Group,” the spokesperson added.
Moneycontrol first announced the fact that Relevel “halved its staff by 700 workers” in the wake of the economic downturn.
Relevel was introduced in 2021 by Shashank Murali, Saksham Keshri and Prakash Kumar on the basis of the strong momentum seen in the growth of users, hiring corporate partnerships, and placement rates.
In the past year, Relevel raised $20 million from its parent company, edtech Unacademy.
In April, Unacademy laid off nearly 600 employees, contract employees and educators, which is about 10% of its workforce of 6,000 employees across the company.
As the winter of funding ravaged unicorns and startups in the edtech sector in India, Unacademy founders and management were forced to cut their pay.
In an internal memo last month, Munjal said that even although the firm has more than 2,800 crore in the bank, “we are not efficient in any way”.
“We spend millions on travel for our employees and teachers.Sometimes, it’s required, and other times it’s not.
“There are many of unnecessary expenses we pay for.We need to cut down on all these costs.We have a solid core business.We must be profitable as quickly as possible,” the email read.
“We will be closing certain companies which have failed to identify the market fit of their product (PMF) such as the Global Test Prep,” he informed the employees.
Unacademy last month announced that a tiny fraction of its staff (2.6 percent) was requested to be removed as part of the performance improvement program (PIP).
Around 150 workers (2.6 percent) at Unacademy’s PrepLadder team were let go.
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