The learning platform Physics Wallah (PW) has decided to let go of between 70 and 120 the employees. The company says that these Layoffs were caused by Performance Issues, and this move is a part of a reducing expenses.
The edtech unicorn also revealed that it will be investing INR 120 Cr to support PW Expertise, its workforce development vertical, and INR 100 Cr in its UPSC vertical. The unicorn of edtech intends to add 1,000 new employees over the course of the following six months.
“At PW, we regularly assess performance through mid-term and end-term cycles. For the cycle ending in October, less than 0.8% of our workforce, ranging from 70 to 120 individuals with performance concerns, may be asked to transition. Our primary focus remains on fostering a dynamic, high-performing team,” the CHRO of PW, Satish Khengre, said.
About Physics Wallah
Based in Noida, Uttar Pradesh, and was founded in 2016 by Alakh Pandey and Prateek Maheshwari. Through his YouTube channel and the Physics Wallah app/website, where the team offers lectures for NEET, JEE Mains, and Advanced-level-Preparation, Physics Wallah has been paving the way for millions of students. Students at Physics Wallah have a choice between several batches, including Lakshya, Prayas, and Manzil.
These are separated according to the student’s level and supported by comprehensive study materials, tailored to the needs of the batch, emphasizing the development of concepts. Physics Wallah strives to offer excellent and reasonably priced educational materials for free or at a very low cost.