SoftBank-backed Unacademy lays off 600 employees in cost-cutting drive

That's nearly 10% of the company's workforce and comes in the aftermath of the pandemic; the move follows termination if 100 staffers from PropLadder team in March

Edtech unicorn Unacademy has laid off about 600 employees comprising nearly 10 per cent of its workforce in a move that is being seen as a focus on profitability as well as consolidation and cost-cutting drive in the space amid the pandemic, according to the sources.

The SoftBank-backed firm which has a workforce of 6,000 has laid-off full-time employees, contractual workers and educators across the organisation. A spokesperson of Unacademy confirmed the development.

However, media reports contended that the magnitude of layoff was closer to the 1,000-mark and that the figure quoted by the company might have been just the