Breaking News
1. ‘Super Size Me’ director Morgan Spurlock dies of cancer at 53      2. US in 'no position to point fingers at China on Taiwan question': Beijing warns of ‘backfire’      3. Uttar Pradesh: Nests installed in Hapur to protect the birds from the scorching heat in summer.      4. IMF, Pakistan make significant progress on new loan, IMF mission says      5. US elections: Joe Biden selected as nominee in Idaho Democratic caucuses      6. Bone-chilling Kolkata murder: Bangladesh MP's body skinned, chopped and treated with turmeric      7. Pakistan to pay USD 2.58 million in compensation to families of 5 Chinese killed in suicide bombing      8. Amid heat wave alerts, Jaipur, Biological Park Ranger Jagdish Sharma of Rajasthan's Nahargarh said      9. Delhi: 149 percent surge in cases of mobile phone use while driving since January      10. India Coast Guard Ship in an overnight sea-air coordinated joint ops apprehends a Pakistani boat      11. Earthquake of magnitude 4.2 strikes Bay of Bengal      12. Bhojshala dispute: ASI's plea in MP high court for more time for survey; Muslim side alleges digging      13. Japan's ruling party loses all 3 seats in special vote, seen as punishment for corruption scandal      14. Several Mumbai-Pune trains cancelled from May 28 to June 2.      15. Devotees throng in large numbers in Ayodhya's Ram Temple, Haridwar, Varanasi      16. Kerala on red alert! Four dead following torrential rains; IMD warns of heavy showers today | Top 10 updates      17. Cyclone Remal Alert! Rainfall lashes Kolkata, more showers expected in THESE districts of Bengal and Odisha till May 26      18. Dry days in Delhi, Gurgaon, Faridabad: Liquor shops to remain closed for 48 hours ahead of Lok Sabha phase 6 voting      19. China holds biggest military drills in a year around Taiwan since new President Lai Ching-te elected      20. Election Commission shares quirky Laapataa Ladies' meme to woo voters, 'take Sajni on voting date'     

PhysicsWallah's Strategic Layoffs Impact 120 Employees

  • Posted on November 20, 2023
  • Education

PhysicsWallah, an edtech startup, has laid off 120 employees after a performance review, focusing on optimizing team performance. While not a cost-cutting measure, it reflects a strategy to enhance efficiency. The company plans significant recruitment, valuing its employees' role in shaping educational technology. This aligns with a broader trend in the industry, impacting several edtech platforms.

PhysicsWallah's Strategic Layoffs Impact 120 Employees Image Source

In a recent development within the edtech sector, PhysicsWallah, an emerging educational startup, has made the decision to lay off 120 of its employees. The layoffs stem from the company's comprehensive performance review process, a move aimed at optimizing team performance. Statements from PhysicsWallah highlighted the strategic nature of these layoffs, underlining that they were not a cost-cutting strategy.

Satish Khengre, PhysicsWallah's Chief Human Resources Officer, stressed the importance of regular performance evaluations conducted by the company. These reviews have resulted in the decision to part ways with 70 to 120 individuals. However, amidst these layoffs, there's a parallel plan for significant recruitment. Khengre disclosed plans to bring in approximately 1,100 new hires over the next two quarters, emphasizing the company's focus on fostering a high-performing workforce.

Also Read: Visakhapatnam Fishing Harbour: 35 Boats Destroyed In Fire

During a recent interview with PTI, Khengre reiterated its commitment to growth, aiming to hire an additional 1,000 employees within the subsequent six months. The company's vision places immense value on its existing employees, recognizing their pivotal role in shaping the landscape of educational technology.

Established in 2020 by Alakh Pandey and Prateek Maheshwari, PhysicsWallah has garnered substantial investor interest, having secured $100 million from prominent backers such as WestBridge Capital and GSV Ventures. Currently valued at $1.1 billion, the startup continues to evolve.

This move by PhysicsWallah echoes a trend in the edtech industry, where several platforms, including Byju's, Unacademy, Vedantu, Cuemath, and Teachmint, have resorted to layoffs as part of cost-cutting measures, affecting over 10,000 employees collectively.

No Image

You May Also Like