New Delhi: Edtech firm PhysicsWallah has reportedly sacked 120 employees after a performance review.
The company has around 12,000 employees. As per reports, PhysicsWallah resorted to the layoffs citing cost-cutting exercise.
According to sources, employees in content, operation and a few other departments of the company were removed from their jobs.
The company, however, denied it was a mass layoff. PhysicsWallah’s Chief Human Resources Officer (CHRO), Satish Khengre, stated that the company plans to hire an additional 1,000 employees in the next six months.
PhysicsWallah was founded by Alakh Pandey and the company’s valuation was $1.1 billion in June 2022.