Edtech Unicorn PhysicsWallah Trims Workforce: 120 Employees Ousted Following Performance Evaluation

PhysicsWallah Lays Off 120 Employees Amidst Fundraising Efforts

In a surprising turn of events, edtech unicorn PhysicsWallah has laid off 120 employees, citing performance issues. The layoffs come as the company is actively seeking to raise $250 million at a $3.3 billion valuation.

While the company has stated that the layoffs are part of a cost-cutting exercise, some industry experts believe that the move may also be an attempt to improve the company's valuation ahead of a potential fundraising round.

Despite the layoffs, PhysicsWallah remains a profitable company. In FY22, the company posted a net profit of INR 97.8 crore, up from INR 6.9 crore in FY21.

Key Takeaways:

1.PhysicsWallah has laid off 120 employees due to performance issues.

2.The company is actively seeking to raise $250 million at a $3.3 billion valuation.

3.PhysicsWallah remains a profitable company, posting a net profit of INR 97.8 crore in FY22.

What to Watch For:

1.Whether PhysicsWallah's fundraising efforts are successful.

2.The impact of the layoffs on the company's culture and morale.

3.PhysicsWallah's ability to maintain profitability while balancing growth and cost management.