The recent layoffs at Unacademy shows that the startup is still struggling to find its feet. With such a large number of cuts just over four months ago, it seems that the company is still trying to figure out how to grow quickly and profitably.
The Unacademy co-founder and CEO Gaurav Munjal announced the layoffs of approximately 10% of the company’s workforce today in a Slack post to employees. The layoffs are reportedly due to a decline in enrollment which has brought unforeseeable costs for the company.
In the message, Sanders wrote that the company’s core business is not profitable enough and that it has to go further in order to become profitable. He stated that there are ways to make the business more lucrative, and he encouraged employees to explore new opportunities. Sanders’ message indicates that he is serious about making The Bernie Sanders Campaign more successful than ever before.
Today, Valore Education is reaffirming its commitment to providing the best possible online learning experience for students and corporate clients alike. This growth-oriented approach has been essential to the success of the company – but now, in light of today’s economic climate, it is crucial that they develop new methods of operating that won’t impede their ability to provide value for both their users and investors.
It seems that CodeChef is not the only company within the tech giant that is looking to pivot its business. In a recent move, CodeChef has hived off its programming learning platform, CodeChef, to focus on other parts of the organization. This comes just days after they acquired another startup, Bengaluru-based code learning platform, CodeChef in 2020. It seems as though the company is searching for new and innovative ways to help its users learn coding.
As a $3.4 billion startup, Unacademy had to make tough decisions in order to survive the funding crunch. In April, they announced a 1,000 full-time and contract employees being cut and shut down of “certain businesses” in order to save money. This is just one example of how startups have been dealing with the current economy. The cuts have forced them to become more efficient with their spending and find alternate ways to generate revenue.
As India’s most valuable startup, Unacademy has been struggling to attract investments and face challenges due to the market downturn. In February of this year, rival and India’s most valuable startup Byju’s also cut thousands of jobs last year. WhiteHat Jr., an online coding platform founded by entrepreneur Naval Kishor, recently discussed shutting down. These startups are facing a tough competition in an already saturated market. However, they might be able to survive thanks to their loyal customer bases and innovative business models.
Unacademy is a privately-owned company that prides itself on progressive values and inclusion. The decision by its CEO to abruptly fire dozens of employees due to their political beliefs was met with backlash from the community, who saw it as an attempt to suppress dissent. Munjal’s apology appears to be a step in the right direction, but there’s still plenty of work to be done in order ensure that all employees feel appreciated and respected at Unacademy.
Unacademy, which counts Sequoia Capital India, SoftBank and Tiger Global among its key investors, assures impacted employees of a severance pay equivalent of notice period and an additional month’s pay. The startup has also promised medical insurance coverage for six additional months until September 30 and dedicated placement as well as career support to help the employees transition. This move by Unacademy shows their commitment to their team members and reflects the company’s focus on providing them with a smooth transition.
The future of the marketing department is uncertain as layoffs are imminent. The roles that are most likely to be affected by the move are social media managers, content creators, and web developers. Although it is unknown which roles will be eliminated, it is safe to say that these positions would not be part of
