Online higher education company upGrad has reportedly laid off around 30 percent of its workforce at its subsidiary, "Campus." The move has been attributed to a lack of venture capital funding, which has impacted several late-stage organizations in the startup ecosystem.
According to a report by Entrackr, upGrad's acquisition of Harappa Education in July 2022 also resulted in layoffs, with 30 percent of the workforce affected. This latest round of layoffs is the second at an upGrad-owned company.
UpGrad Campus is the rebranded version of Impartus, which upGrad acquired in March 2021 for Rs 150 crore. After the acquisition, Amit Mahensaria, the co-founder of Impartus, assumed the role of Chief Operating Officer at upGrad Campus, which continued to operate independently as a subsidiary.
The edtech sector has seen other companies make similar moves. Unacademy-run Relevel laid off 20 percent of its workforce in January, while BYJU's phased layoffs continue with the company asking over 1,000 employees (or 15 percent) to leave, primarily from its engineering teams.
The layoffs come amidst a global economic downturn and shifting priorities for edtech companies. Unacademy-run Relevel is said to be focusing on its "tests product" and a new app called NextLevel, while BYJU's is looking to remain growth-oriented in the face of economic uncertainty.
upGrad is India’s largest online higher education company that offers online courses and degrees in various fields such as data science, digital marketing, machine learning, and more. upGrad works with leading industry experts and academia to deliver programs that help working professionals upskill while they work
(Edited by : Soham Shetty)
