In Vietnam, PE firm Mekong Capital has appointed Vuong Thi Huyen Nga as chief people officer, while Indian edtech startup Unacademy is said to have laid off around 250 employees.
Mekong Capital appoints Nga as chief people officer
Vietnam-focused PE firm Mekong Capital has appointed Vuong Thi Huyen Nga as Chief People Officer.
Nga has previously held country lead and senior HR leadership roles at global and big local companies such as Navigos Group, Odgers Berndtson, RGF Executive Search (Recruit Group), Talentnet, EQuest Group, etc.
Additionally, Nga is known for her strategic thinking and ability to drive organisational transformation, successfully executing large-scale HR transformation projects to drive high performance for these businesses.
“This appointment underscores Mekong Capital’s unwavering commitment to fostering leadership excellence and development. With Nga’s leadership, we are confident in our ability to drive sustainable growth and success for our investee companies through strategic talent management,” Mekong Capital stated.
Established in 2001, Mekong Capital has the most extensive private equity track record in Vietnam. Its funds have completed 43 investments, of which 28 have been fully exited. Mekong Capital has advised five funds, two of which are currently active.
Unacademy lays off 250 employees
SoftBank-backed edtech startup Unacademy, which has been reeling under pressure to turn profitable, has laid off around 250 employees from various business divisions.
“As part of our ongoing efforts to streamline operations and enhance business efficiency, we have recently undergone a restructuring exercise,” Unacademy said in a statement, confirming the news pertaining to the layoffs but did not cite a number. “This was necessary keeping in mind the company’s goals and vision for the year, as we focus all our efforts on sustainable growth and profitability. Consequently, some roles have been impacted,” it added.
The company recently made headlines for exploring a potential merger with K-12 Techno Services.
However, its founder and chief executive officer Gaurav Munjal said the company will record its best year of growth and profitability this year. He also urged people to ‘ignore rumours’ about the proposed merger talks.
‘’There is a lot being said about Unacademy currently. To set the record straight, Unacademy will have its best year in terms of growth and profitability,” he said.
Earlier in March 2023, the startup had retrenched roughly 12% of its workforce (around 380 employees).