Harappa Education, an UpGrad-owned edtech platform, has laid off approximately 70 employees, or 35 per cent of its Workplace.According to the media reports, more layoffs could follow in the near future. Harappa Education has recently announced its expansion plans into the US market in partnership with California-based Enliven Advisory.
The report further added that the headcount has decreased in all verticals, including the company’s media, content, branding, and human resources departments. Many impacted employees were informed by their managers over phone calls and messages about the development.
The company allegedly asked the fired employees to submit the company’s belongings as soon as possible. Pramath Raj Sinha and Shreyasi Singh founded the company in 2018. It aims to provide young professionals with self-paced courses to upskill them. The startup claims that it has trained more than 250,000 learners across more than 200 companies.
However, the parent company, UpGrad, is in a completely different situation than Harappa Education.In November, UpGrad announced plans to hire 1,400 employees by March this year. UpGrad paid $38 million in cash and shares for Harappa in July of last year.Moreover, the company is targeting being profitable by the end of the next financial year.