Unacademy's Year of Growth Amid Strategic Layoffs: CEO Gaurav Munjal Sets the Record Straight

Unacademy CEO Gaurav Munjal announces that this year will be the company's best in terms of growth and profitability despite recent layoffs. Amid sale rumors, Munjal assures that Unacademy is being built for the long run. The company has laid off 250 employees as part of restructuring efforts aimed at sustainable growth.

Unacademy CEO Gaurav Munjal has declared this year as the most promising in terms of growth and profitability despite recent layoffs. Addressing rumors of the company's potential sale, Munjal emphasized in a social media post that Unacademy is geared for long-term success.

"There is a lot being said about Unacademy currently. To set the record straight, Unacademy will have its best year in terms of growth and profitability. We also have many years of runway. We are building Unacademy for the long run," Munjal stated on platform X.

The company recently laid off 250 employees, citing restructuring efforts for sustainable growth. This follows a history of layoffs in the post-Covid era, cutting the workforce from 6,000 to 3,000. Despite financial strain, Unacademy received funding support from investors like General Atlantic and Softbank. The company achieved revenue of Rs 1,044 crore but faced losses of Rs 1,678 crore in 2022-23.

In a transparent move, Munjal also openly discussed the importance of transparent leadership and stakeholder communication during challenging times, sharing insights on avoiding the pitfalls that led to Byju's issues.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)