Deeply unprofitable Unacademy announces another round of layoffs

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Editor's note: Bengaluru-based Unacademy, India’s second-largest education technology company, has announced internally that it is firing more than 350 employees, out of a total of around 2,800. The layoffs will impact tech as well as leadership teams, but the deepest cut will be in the online test prep team, according to a person in the know, who asked not to be named.  In a message to employees on Slack today, Munjal said that the company will reduce its workforce by 12%. “We have taken every step in the right direction to make our core business profitable, yet it’s not enough. We have to go further, we have to go deeper… We will be reducing the size of our team by 12% to ensure that we can meet the goals we are chasing in the current realities we face. I did not anticipate I would have to do this again, and I’m very sorry,” read the message. “Today’s reality is a contrast from two years ago where we saw unprecedented growth because of the accelerated adoption of online learning. Today, the global economy …