Indian edtech company PhysicsWallah has reportedly cut over 100 jobs as part of a cost-restructuring exercise. The company, which offers online and offline courses for engineering entrance exams, confirmed that 70-120 employees have been let go from various departments. Despite the layoffs, PhysicsWallah plans to hire an additional 1,000 employees in the next six months. The Noida-based company became a unicorn in 2022 and saw a significant increase in revenue from operations in the last fiscal year. PhysicsWallah is cautious about audits, regulations, and maintaining its reputation in the market.
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Edtech unicorn PhysicsWallah cuts over 100 jobs, read company’s statement
Indian edtech company PhysicsWallah has reportedly cut over 100 jobs as part of a cost-restructuring exercise. The company, which offers online and offline courses for engineering entrance exams, confirmed that 70-120 employees have been let go from various departments. Despite the layoffs, PhysicsWallah plans to hire an additional 1,000 employees in the next six months. The Noida-based company became a unicorn in 2022 and saw a significant increase in revenue from operations in the last fiscal year. PhysicsWallah is cautious about audits, regulations, and maintaining its reputation in the market.
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.
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