- Graphy, a subsidiary of Unacademy, has reportedly reduced its workforce by 20-30%, which amounts to approximately 50 employees, in recent weeks.
- The restructuring comes as Graphy faces challenges in meeting its revenue targets. The platform offers learning management system services to creators in the edtech space.
- Graphy was initially expected to generate INR 30 crore in revenues for Unacademy.
- Despite challenges at Graphy, Unacademy’s offline business is anticipated to contribute to the company’s revenues in the fiscal year 2023 (FY23).
- The restructuring at Graphy is part of the broader developments within Unacademy’s flagship group companies, following changes at Relevel and PrepLadder.