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Unacademy founder Gaurav Munjal says there will be no layoffs on his job hiring platform

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After a report claimed that edtech major Unacademy has fired employees from its job board Relevelthe founder and CEO of the company, Gaurav Munjal said Wednesday there were no layoffs.



“No layoffs. However, we have moved some team members to other Group companies. The team has worked very hard to ensure we can find a role for everyone,” Munjal tweeted.

One user replied, “That’s nice Gaurav. Nice to read this. Compassion for employees and fitting into other divisions”.

MoneyControl first reported that Relevel “has halved its team to 700 employees” amid the economic collapse.

Relevel was launched in 2021 by Shashank MuralSaksham Keshri and Prakash Kumar, on the basis of strong traction, witness the growth of users, partnerships with hiring companies and placement rates.

Last year, Relevel raised $20 million from its parent company, edtech, Unacademy.

In April, Unacademy laid off nearly 600 employees, contract workers and educators, about 10 percent of the group’s 6,000 employees.

When the funding winter hit edtech startups and unicorns in India, Unacademy founders and management took pay cuts.

In an internal email last month, Munjal said that although the company has more than Rs 2,800 crore in the bank, “we are not efficient at all”.

“We spend millions on travel for employees and educators. Sometimes it’s necessary, sometimes it’s not.

“There is a lot of unnecessary expenditure that we are making. We need to cut back on all this expenditure. We have a strong core business. We need to become profitable as soon as possible,” the email reads.

“We will close certain companies that have failed to find the product market fit (PMF), such as the General test preparation‘ he told the employees.

Unacademy said last month that a small proportion of staff (2.6 percent) have been asked to go as part of a performance improvement program (PIP).

Nearly 150 employees (2.6 percent) of Unacademy’s PrepLadder team were laid off.

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