What layoffs? Ronnie Screwvala-led upGrad on a hectic expansion spree

In a studied contrarian move, the Ronnie Screwvala-led edtech company is on a hectic expansion spree

At a time when a growing number of edtech companies are laying off employees in a bid to conserve cash and focus on profitability, Ronnie Screwvala-led upGrad is on an expansion spree. Ahead of an initial public offering (IPO) planned for 2024, the edtech unicorn, which acquired that status in August 2021, has also chosen to streamline the corporate structure and expense out all costs related to mergers and acquisitions (M&As) and growth capital in FY22 and partly in FY23.

Over 15 co-founders from its M&As are joining the leadership team. “The current fiscal year would largely be about