Unacademy lays off 250 employees amid reports of a potential merger

Edtech institution Unacademy has laid disconnected astir 250 employees crossed departments, including 150 successful sales, amid reports of a imaginable merger with different edtech firm, radical with nonstop cognition of the substance said. They added that 100 employees were laid disconnected arsenic portion of a caller restructuring exercise, portion the remainder were performance-based layoffs for the year.

An Unacademy spokesperson confirmed the improvement and said, “As portion of our ongoing efforts to streamline operations and heighten concern efficiency, we person precocious undergone a restructuring exercise. This was indispensable keeping successful caput the company's goals and imaginativeness for the year, arsenic we absorption each our efforts connected sustainable maturation and profitability. Consequently, immoderate roles person been impacted. While this modulation won’t beryllium easy, we volition beryllium supporting each impacted individuals.” The institution did not corroborate the fig of layoffs successful this round.

News website The Financial Express was the archetypal to study the development.

This is simply a processing story. Check backmost soon for much updates.

Catch each the

Corporate news

and Updates connected Live Mint. Download The

Mint News App

to get Daily

Market Updates

& Live

Business News.

MoreLess