Why is Physics Wallah laying off hundreds of employees? physics wallah fired hundreds of employees in 2023

Why is physics wallah laying off hundreds of employees

Why is Physics Wallah laying off hundreds of employees?

We all know the journey of physics wallah. How tough it was for Alakh Pandey to start his Physics Wallah YouTube channel. In India, many youths are employed by YouTube, and many businesses are started because of YouTube. There is an EdTech company called Physics Wallah that was started because of YouTube.

Why is Physics Wallah laying off hundreds of employees?

In a statement, Chief Human Resources Officer Satish Khengre said’ At PW we regularly assess performance through mid-term and end-term cycles.
He further added PW is planning to hire 1000 additional employees in the next six months. Further stated that only 0.8 percent of the total workforce will affected by the layoff decision. The layoff is part of the Performance review cycle.

According to some reports, Physics Wallah will lay off 70-120 employees. This will be the first mass layoff, of Physics Wallah, and in six months they aim to hire 1000 employees.

In the past many EdTech companies laid off their employees like, Byju’s laid off 5000 employees, Unacademy 2000, Vedantu, 1000, and Udaan 500 Now same thing is followed by Physics Wallah laying off 120 employees.

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Why does an EdTech company fire its employees?

During the time of competitive entrance exams, the number of students increases and more students get admission to online or offline classes. Due to the increase in students EdTech companies hire more teachers to meet the demand for students.

During the off-season when exam time goes off the number of students also decreases. To control the cost and expenditures or to avoid spending too much money on the teachers the EdTech companies either reduce the salary of their employees or fire the employees.

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