This company can lay off from his company. The company said the layoffs will be based on performance and could result in the loss of 120 employees. Company said in a statement that the implementation of performance appraisal will affect less than 0.8 per cent of its workforce. Know what is the complete news.
Physics Wallah, the edtech firm of the country’s famous physics teacher Akhal Pandey, may lay off people from his company. According to the company, this retrenchment will be on performance basis in which 120 employees may lose their jobs.
Work force will be affected to no extent
Physicswala said in a statement that less than 0.8 per cent of its total workforce will be affected due to the performance review exercise.
In a statement, Satish Khengre, CHRO, Physics Wala said,
At PW, we regularly assess performance through the mid and end term. For the cycle ending in October, less than 0.8 percent of our workforce, ranging from 70 to 120 individuals with performance concerns, may be cited.
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
How many total employees does the company have?
Physics Wala currently has 12,000 employees. Many edtech companies, including unicorns like BYJU’S and Unacademy, had hired additional employees to meet the sudden surge in demand for online classes during COVID. However, this could be the first ever mass lay-off from the Physics department.