Gaurav Munjal, the CEO of Unacademy, has sparked outrage on social media following his announcement of a ‘zero appraisal’ policy for employees. This decision, made while Munjal was wearing a luxury t-shirt worth ₹33,000, came just weeks after the ed-tech startup laid off approximately 250 employees.
Munjal, who has repeatedly stated that Unacademy will achieve its “best year of growth and profitability in 2024,” explained during a recent video meeting that the company had failed to reach its “growth goals,” despite a relatively successful year. He attributed this to the company’s inability to meet its targets, but insisted that there would be no appraisals. This marks the second consecutive year where some Unacademy employees have missed out on salary increases.
In a now-viral clip, Munjal can be heard saying, “The good part is that the burn is extremely low now, and we have a huge runway. And I kept saying that we don’t have a survival risk…It’s been tough, and that’s why I have one bad news that we won’t be able to do any appraisals this year.”
Social media users were quick to express their anger and frustration, calling out the perceived disconnect between Munjal’s words and actions. One Reddit user commented, “Came across extremely disingenuous. To me it looked like he was trying real hard to not smile. Its all a joke for him. Ki main toh kama ke nikal gaya, who gives a hoot now.” Another user added, “He takes full ownership of this? How exactly? Is he giving extra stock options instead of appraisal? Gaslighting karne ka tareeka thoda casual hai.”
Many users also criticized Munjal for his choice of attire during the announcement, specifically his luxury t-shirt. “This is Burberry Black Parker t-shirt with embroidered logo. Yeah agreed that one shouldn’t go after their personal stuff. But it is what it is,” wrote one Reddit user. Resale and aggregator websites indicate that similar t-shirts with monogrammed designs are currently selling for approximately ₹30,000 and above.
The combination of the ‘zero appraisal’ announcement and Munjal’s choice of attire has fueled public scrutiny and criticism. The timing of the announcement, coinciding with recent layoffs, has further amplified the perceived insensitivity of the decision. Many social media users have expressed disappointment and frustration at what they view as a lack of appreciation and empathy for employees, particularly those who have recently been laid off.
