PhysicsWallah Fires Over 100 Employees

Edtech company PhysicsWallah (PW) has reportedly fired over 100 employees as part of a cost-restructuring exercise.

It was Entrackr who reported first about the layoffs in the company. "Employees across content, operations and other departments were asked to go in random meetings without concrete reasons. The numbers of impacted workforce could be even higher," a source had told the website on the condition of anonymity.

"At PW, we regularly assess performance through mid-term and end-term cycles. For the cycle ending in October, less than 0.8 percent of our workforce, ranging from 70 to 120 individuals with performance concerns-may be asked to transition...," Entrackr quoted Satish Khengre, CHRO, PW, as saying.

He further stated that the company plans to hire 1000 workers in next six months. "Our primary focus remains on 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 recognize their integral role in shaping the future of education technology," he added.

In FY22, the company witnessed a remarkable 9.5X growth in revenue from operations, reaching Rs 233 crore compared to Rs 24.6 crore in FY21.

The company which was founded in 2016 by Alakh Pandey, later joined by Prateek Maheshwari, provides both online and offline courses along with study materials tailored for JEE, NEET, and various engineering entrance and state board exams.

The platform delivers live classes, video lectures, test series, and interactive exercises specifically designed for the mentioned examinations.It boasts a vast audience with more than 31 million subscribers distributed across 61 YouTube channels.

Additionally, its mobile app has surpassed 10 million downloads and maintains an impressive 4.5 rating on the Google Play Store.