Unacademy fired 250 employees: They were working in marketing and sales, more than 4000 layoffs in the company in 2 years

Soft bank backed edtech company Unacademy has laid off about 250 employees. Of these, about 100 employees were working for the business development and marketing team of the company. At the same time, about 150 people were from the sales department. Moneycontrol gave this information quoting sources. According to reports, the company has taken this decision due to restructuring.

Unacademy said in a statement, ‘We have undertaken restructuring as part of our continued effort to streamline the company’s operations and increase business efficiency. This was necessary keeping in mind the goals and vision of the company. This was also necessary for sustainable growth and profitability, due to which some roles have been affected.

Retrenchment of about 4000 employees in two years

There have been several rounds of layoffs in Unacademy in the last 2 years. According to sources, the number of employees of the company was more than 6000 in April 2022, which has now come down to 2000. About a month ago, the company’s co-founder and Chief Technology Officer Himesh Singh had shifted himself from an executive role to an advisory role.

The company has a valuation of Rs 28,379 crore.

Unacademy was founded by Gaurav Munjal, Roman Saini and Hemesh Singh in 2015. It provides online preparation for competitive exams. The company has so far raised funds of $ 877 million (about Rs 7,318 crore).

Last time, the company had raised funds of $ 440 million (about Rs 3,672 crore) from Temasek, General Atlantic and others in August 2021. Then its valuation was 3.4 billion dollars (about Rs 28,379 crore).

Unacademy has more than 1.3 crore online users

According to Statista’s report dated September 26, 2023, Unacademy has more than 1.3 crore online users. Byju’s has the maximum number of 15 crore users. Apart from this, Vedantu has 3.5 crore users and Upgrade has 20 lakh users.