Unacademy said Tuesday that its upskilling product, Relevel, is shifting focus to a test product and newly launched LinkedIn rival NextLevel.
As part of the move, about 40 people at Relevel will be laid off “due to a lack of positions,” Unacademy co-founder and CEO Gaurav Munjal said in a letter to employees on Tuesday. Stated. About 80% of Relevel’s team will be absorbed by other companies within the Unacademy Group, he said in his TechCrunch-confirmed memo.
Those enrolled in Relevel’s cohort will not be affected, and team members who leave will be provided with a notice period and an additional two months of severance pay, according to the Indian government backed by SoftBank, Tiger Global and Sequoia India. edtech says.
“We are very grateful to the Relevel team for their hard work and contributions. Their hard work and effort allowed us to grow our revenue quickly, but unit economics proved challenging.
“Our culture is about pursuing fresh and creative ideas, but we are also disciplined about keeping the bar high to continue projects we have started. does not specifically deprive our clients of their active contribution to improving their learning trajectories and job prospects.”
The company did not immediately respond to a request for comment.
(more to come)
