123

1.00

Unacademy planning to forego paying cash appraisals to its employees this year.

Share via:

Unacademy laid off over 1,500 employees last year, is now planning to forego paying cash appraisals to its employees this year. Instead, the company stated that it would provide employees with stock options based on their performance.

“… we have decided not to conduct any cash appraisals this year. Instead, we will reward everyone with stock options based on their performance,” said CEO and cofounder Gaurav Munjal in an internal message to employees. Munjal attributed the move to the edtech company’s emphasis on profitability and growth. He went on to say that the edtech company would only consider an IPO if it had at least four quarters of profitability behind it.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

Popular

More Like this

Unacademy planning to forego paying cash appraisals to its employees this year.

Unacademy laid off over 1,500 employees last year, is now planning to forego paying cash appraisals to its employees this year. Instead, the company stated that it would provide employees with stock options based on their performance.

“… we have decided not to conduct any cash appraisals this year. Instead, we will reward everyone with stock options based on their performance,” said CEO and cofounder Gaurav Munjal in an internal message to employees. Munjal attributed the move to the edtech company’s emphasis on profitability and growth. He went on to say that the edtech company would only consider an IPO if it had at least four quarters of profitability behind it.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

More like this

In a bit to expand its footprint in the...

Ziyyara, a One-on-One Personalized Online Tutoring platform committed to...

The Circle FC successfully concludes the 2nd cohort of...

For the second consecutive year, The Circle: Founders Club...

Hitachi Vantara Introduces Pentaho+, A Simplified Platform For Trusted,...

New architecture allows for seamless interoperability across Pentaho Data...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!