In a continued internal reshuffle, Unacademy Chief Operating Officer (COO) Jagnoor Singh has resigned from his role. Co-founder Gaurav Munjal and partner Sumit Jain will directly oversee operations, sources informed Moneycontrol.
This high-profile departure follows closely on the heels of co-founder Hemesh Singh’s resignation as Chief Technology Officer (CTO), a position he held for nearly nine years. It also comes shortly after Unacademy laid off 250 employees as part of a restructuring exercise aimed at streamlining operations and enhancing business efficiency. Inc42 first reported this development.
Unacademy has been undergoing significant leadership changes to adapt to the evolving business environment and maintain the positive cash flow achieved in the April-June quarter of the previous year. Jagnoor Singh, who initially joined Unacademy as Chief Business Officer (CBO) in 2022 and was promoted to COO in January this year following Vivek Sinha’s resignation, will remain with the company during a six-month transition period to serve out his notice period.
The company also saw the exit of Chief Financial Officer (CFO) Subramanian Ramachandran during the same period. In December last year, Gaurav Munjal informed employees about the company’s improved financial health, which was achieved through stringent cost-cutting measures, including layoffs and reduced executive benefits.
For the financial year 2022-23, Unacademy reduced its losses to Rs 1,678 crore from Rs 2,847 crore the previous year, while its revenue stood at Rs 907 crore. The restructuring efforts continued into July 2024, with Unacademy laying off approximately 250 employees across various departments. This included 150 employees from the sales team who failed to meet sales targets, and another 100 layoffs as part of a broader organizational restructuring and performance-based evaluations.
