Unacademy CEO: No layoffs at job placement platform

Unacademy CEO Gaurav Munjal has refuted reports that it slashed jobs at its recruitment platform Relevel, stating that employees were instead moved to other businesses within the Indian edtech unicorn’s group of companies.

This comes after Moneycontrol reported that 700 Relevel employees were laid off or transferred out, citing sources in the know.

“There are absolutely no layoffs happening anywhere across the Unacademy group,” a Relevel spokesperson told Tech in Asia, who added that the Moneycontrol story is “factually incorrect.”

Relevel’s sales, operations, and placement teams were affected, according to Moneycontrol. The publication had attributed the move to a global decline in the jobs market and Relevel’s difficulties in securing external placement deals.

Unacademy has been implementing cost-cutting measures as it looks to achieve profitability amid a “funding winter.” The SoftBank-backed firm is also looking at a possible public listing within the next two years.

Update (August 18, 7:53 p.m. SGT): The article was updated to include clarifications from Unacademy.

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