PhysicsWallah Lays Off 120 Employees

After their performance review…

PhysicsWallah has laid off 120 employees after a performance review process.

The company said that less than 0.8 percent of its total workforce will face the impact of the evaluation process. The company has around 12,000 employees.

The firing has been done in content, operation, and a few other departments. Employees were asked to go to random meetings without any "specific reasons", Entracker further said.

The company, however, denied it was a mass firing.

"At PW, we regularly assess performance through mid-term and end-term cycles.

For the cycle ending in October, less than 0.8 per cent of our workforce, ranging from 70 to 120 individuals with performance concerns - may be asked to transition," PhysicsWallah's CHRO, Satish Khengre, was quoted as saying in a statement by news agency PTI.

"Our primary focus remains on making a high-performing team. We plan to hire an additional 1,000 employees in the next six months," Mr. Khengre said in the statement.

Several companies, including BYJU'S and Unacademy, had hired excess staff to meet the demand for online classes during the Covid period.

"We value the dedication of our existing employees and recognize their role in making the future of education technology," Mr. Khengre added.

PhysicsWallah was founded by Alakh Pandey, who used to take online classes on YouTube, in 2020. The company's valuation was $1.1 billion in June 2022.