Google-backed edtech firm Adda247 has laid off around 20% of its staff. Around 200 people have lost their jobs as part of an internal restructuring ahead of its IPO next year. The layoffs have mainly affected product, design and content departments, as well as teachers for courses like UPSC and CUET.

Adda247 explains that the move is to reduce the company's operating costs and focus more on its goals. Junior employees have been laid off on the basis of performance, while senior employees have been laid off as part of the discontinuation of some exam categories. The company expects to save Rs 5 crore annually through these new changes.

Adda247, which was launched in 2016, has the presence of big investors like Google and Westbridge. The company has faced huge losses and a slight slowdown in growth in the last few financial years. However, the company stated that it is currently generating good revenue from its core business, test prep, and aims to move forward more strongly according to the needs of students.