Home / Companies / Start-ups /  upGrad lays off 120 employees at subsidiary: Report

Edtech unicorn upGrad has sacked 30 per cent of its workforce i.e., 120 employees at a subsidiary that it had acquired in 2021 in its recent cost-cutting measure.

upGrad Campus, which was previously known as Impartus, was acquired by Ronnie Screwvala's backed upGrad in 2021 for 150 crore.

The layoffs affected at least 120 of the 300 employees of upGrad Campus, a video-learning solutions provider, according to a Financial Express report.

This is also the second layoff at an upGrad-owned company. Harappa Education, which was acquired by upGrad for 300 crore in July 2022, laid off 30 per cent of its workforce in January, affecting nearly 60 employees, according to the report.

Impartus co-founder Amit Mahensaria assumed the role of the chief operating officer at upGrad Campus, which operated independently as a subsidiary after the acquisition.

upGrad, founded by Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli, has has made at least 14 acquisitions to date. In 2022, it acquired around five companies, including upskilling platform Harappa Education for $38 million, and data science institute INSOFE for $33 million.

Ed-tech unicorn Byju's laid off nearly 1,500 employees in its second round of layoffs. Last year, the Byju Raveendran-led startup sacked around 2,500 employees.

Edtech startups in India have laid off thousands of employees in the past year and have been unable to raise funding as a slowdown gripped the market.

Unacademy also laid off 20% of its employees from its subsidiary relevel in January this year.

Separately, ed-tech unicorn PhysicsWallah is looking to hire around 2,500 employees in the first quarter of 2023.

Indian startups have seen lay offs in the past couple of months, including food and grocery delivery platform Swiggy fired 380 employees of its 6,000-strong workforce as part of a restructuring exercise.

Delivery platform Dunzo laid off 3 percent of its workforce citing restructuring. As per LinkedIn, the company has a workforce of 3,000 employees which means it has laid off approximately 90 employees.

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