Physics Wallah likely to lay off up to 120 employees due to performance issues

Edtech company Physics Wallah is considering laying off as many as 120 employees, citing performance issues as the primary reason, according to a company statement.

The statement clarified that less than 0.8 per cent of the total workforce, approximately 70 to 120 individuals facing performance concerns, may be affected by the upcoming layoff as part of a performance review exercise.

"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 may be asked to transition, ranging from 70 to 120 individuals with performance concerns. Our primary focus remains on fostering a dynamic, high-performing team. We plan to hire an additional 1,000 employees in the next six months," stated Satish Khengre, Chief Human Resources Officer (CHRO) at PW.

The company, which currently employs around 12,000 individuals, highlighted that this is the first instance of a mass layoff being announced by Physics Wallah.

Khengre acknowledged the dedication of existing employees and emphasised the integral role they play in shaping the future of education technology.

(With PTI Inputs)