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Edtech platform Unacademy-run Relevel has laid off 40 staff, or 20 per cent of its workforce, because it shifts its focus from the schooling enterprise to “exams product” and a brand new app known as NextLevel.
In an inner memo, Gaurav Munjal, Unacademy’s Co-Founder and CEO, stated that just about 80 per cent of Relevel’s remaining staff might be absorbed by different companies of Unacademy Group.
“We should let go of round 20 per cent (round 40 folks) of the staff due to the shortage of availability of roles for them,” Munjal wrote.
The impacted staff might be prolonged the identical advantages that got to present staff in November.
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These are severance pay equal to the discover interval and an extra two months, accelerated vesting, medical insurance coverage and placement assist.
Unacademy in November final 12 months had laid off 10 per cent of its workforce or practically 350 staff, as funding winter deepened for the Indian startup ecosystem.
“Relevel might be utterly shifting its focus from the Schooling Enterprise within the upcoming months to focus utterly on its Checks Product and the newly launched App known as NextLevel,” he added.
The CEO stated that the present ‘Learner Cohorts’ will not be impacted and Relevel’s staff will proceed to supply high-quality studying expertise and outcomes to the Learners enrolled in these.
“Relevel’s core staff will give attention to constructing NextLevel,” he stated.
One other edtech startup Harappa Schooling laid off about 73 staff, or 40 per cent of its workforce, final week.
Increased schooling platform upGrad final 12 months acquired on-line studying establishment Harappa Schooling for Rs 300 crore (about $38 million).
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