Physics Wallah may lay off up to 120 employees
New Delhi, Nov 19: Edtech firm Physics Wallah may lay off up to 120 employees due to performance issues, according to the company.
The company in a statement said that less than 0.8 per cent of its total workforce will be impacted due to the 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 per cent of our workforce, ranging from 70 to 120 individuals with performance concerns—may be asked to transition.
"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," PW, CHRO, Satish Khengre said in a statement.
The company has around 12,000 employees.
Several edtech companies, including unicorns like BYJU'S and Unacademy had hired excess staff to meet the sudden spike in demand for online classes during the COVID period.
This is the first mass lay-off that has been announced by Physics Wallah (PW).
"We deeply value the dedication of our existing employees and recognize their integral role in shaping the future of education technology," Khengre said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
LS passes bill to open up nuclear sector for private participation
New Delhi (PTI): Lok Sabha on Wednesday passed the nuclear energy bill with Union minister Jitendra Singh asserting that it would help India achieve its target of 100 GW atomic energy generation by 2047.
The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill, which seeks to open the tightly-controlled civil nuclear sector for private participation, was passed by voice vote amid a walkout by the opposition.
Singh termed the bill a "milestone legislation" that will give a new direction to the country's developmental journey.
"India's role in geopolitics is increasing. If we have to be a global player, we have to follow global benchmarks and global strategies. The world is moving towards clean energy. We too have set a target of 100 GW of nuclear energy capacity by 2047," he said.
The opposition contended that the bill diluted provisions of the Civil Liability for Nuclear Damage Act, 2010 that passed on the liability for a nuclear incident on to the suppliers of nuclear equipment.
