Edtech startup Physics Wallah lays off 120 staffers after performance evaluation
Physics Wallah said it may let go of 70-120 staffers, amounting to less than 0.8% of its workforce in relation to performance concerns.
The decision, undertaken after a mid-term appraisal analysis ended in October, is aimed at ensuring Physics Wallah’s primary focus on maintaining a high-performing team, a top official told ET. The spokesperson was responding to ET’s request for comments on several posts on social media about Physics Wallah laying off over 500 staffers in a “totally unprofessional” manner. ET could not verify the contents of the social media posts.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisit“We plan to hire an additional 1,000 employees in the next six months, reinforcing our commitment to growth. We deeply value the dedication of our existing employees and recognize their integral role in shaping the future of education technology," Satish Khengre, chief human resources officer of Physics Wallah, told ET
Physics Wallah prepares students for competitive engineering and medical entrance examinations.
In August, Physics Wallah had said it was launching 26 offline centres across India across as many cities. Currently, it runs 67 centres, called PW Vidyapeeth, operating in 38 cities. The offline centres offer curriculum for engineering and medical entrance examinations.
Founded by Alakh Pandey and Prateek Maheshwari, Physics Wallah entered the unicorn club last year, when it raised $100 million in its maiden funding round from WestBridge Capital and GSV Ventures at a valuation
