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Indian edtech company PhysicsWallah has reportedly cut over 100 jobs as part of a cost-restructuring exercise. The company, which offers online and offline courses for engineering entrance exams, confirmed that 70-120 employees have been let go from various departments. Despite the layoffs, PhysicsWallah plans to hire an additional 1,000 employees in the next six months. The Noida-based company became a unicorn in 2022 and saw a significant increase in revenue from operations in the last fiscal year. PhysicsWallah is cautious about audits, regulations, and maintaining its reputation in the market.
