PhysicsWallah lays off more than 100 employees
“Less than 0.8% of our workforce, ranging from 70 to 120 individuals with performance concerns—may be asked to transition,” Satish Khengre, CHRO, PW, told YourStory.
Edtech company PhysicsWallah (PW) has laid off 120-150 employees.
"At PW, we regularly assess performance through mid-term and end-term cycles. For the cycle ending in October, less than 0.8% of our workforce, ranging from 70 to 120 individuals with performance concerns—may be asked to transition,” Satish Khengre, CHRO, PW, told YourStory.
He added, “Our primary focus is fostering a dynamic, high-performing team. We plan to hire an additional 1000 employees in the next six months, reinforcing our commitment to growth. We deeply value the dedication of our existing employees and recognise their integral role in shaping the future of education technology.”
In an earlier interaction at TechSparks 2023, Founder and CEO Alakh Pandey mentioned that PW has witnessed 100% growth in its online business in FY23, even with students moving to offline channels.
Acknowledging the influx of numerous new edtech companies focusing on democratising education, Pandey, also added, “It presents a challenge for us, but it’s a positive one, as it keeps us on our toes.”
, established in 2016 by Alakh Pandey and later joined by Prateek Maheshwari, is an educational platform specialising in online and offline courses, as well as study materials tailored for various competitive exams, including JEE, NEET, and other engineering entrance and state board exams.
The platform offers a comprehensive array of resources, including live classes, video lectures, test series, and dynamic exercises, to assist students in preparing for the aforementioned exams.
The Noida-headquartered company had raised $100 million in Series A funding from Westbridge and GSV Ventures at a valuation of $1.1 billion in 2022.
Edited by Kanishk Singh