Edtech agency Physics Wallah could lay off as much as 120 workers attributable to efficiency points, in line with the corporate.
The corporate in a press release mentioned that lower than 0.8 per cent of its whole workforce shall be impacted because of the efficiency overview train.
“At PW, we usually assess efficiency via mid-term and end-term cycles. For the cycle ending in October, lower than 0.8 per cent of our workforce, starting from 70 to 120 people with efficiency concernsmay be requested to transition.
“Our main focus stays on fostering a dynamic, high-performing workforce. We plan to rent an extra 1,000 workers within the subsequent six months,” PW, CHRO, Satish Khengre mentioned in a press release.
The corporate has round 12,000 workers.
A number of edtech firms, together with unicorns like BYJU’S and Unacademy had employed extra employees to satisfy the sudden spike in demand for on-line courses in the course of the COVID interval.
That is the primary mass lay-off that has been introduced by Physics Wallah (PW).
“We deeply worth the dedication of our current workers and acknowledge their integral position in shaping the way forward for schooling expertise,” Khengre mentioned.
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First Printed: Nov 19 2023 | 10:22 PM IST