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Unacademy to furlough another 12% of its workforce

The ed-tech player which had earlier, in November, laid off its employees in nearly 350 roles, has now announced that it will be laying off another 380 roles in order to make its core business profitable

After only four months of announcing layoffs for 350 roles, the ed-tech player, Unacademy has once again announced that it will soon be letting go of another 380 roles, i.e- 12% of the company’s workforce to make its core business profitable.

Gaurav Munjal, Co-founder and CEO, took to Slack to announce the new layoff decision. In the post, he wrote, “We have taken every step in the right decision 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 meet the goals we are chasing in the current realities we are facing,” he added.

Furthermore, Munjal also went on to add that today’s reality is a contrast to two years ago when Unacademy had seen ‘unprecedented growth’ because of the accelerated adoption of online learning.

“Today, the global economy is enduring a recession, funding is scarce and running a profitable business is key. We have to adapt to these changes, build and operate in a much leaner manner so we can truly create value for our users and shareholders,” he mentioned.

This development comes at a time when the edtech company had already cut its headcount by 1,350 across two rounds of layoffs last year.

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