You are currently viewing Byju’s kicks off fresh layoffs

Byju’s kicks off fresh layoffs

[ad_1]

MUMBAI: After delaying employee salary payments for two months in a row, cash-starved Byju’s has started fresh layoffs across departments. These are expected to impact about 500 company staff, sources aware of the development said.
While the bulk of job cuts will be implemented across the sales department, employees working with the company’s tuition centres including teachers have also been affected. Byju’s has shut 30 of its 292 tuition centres over the past few months. “The layoffs started 15-20 days ago. Jobs of several employees in the lower-to-mid-senior level has been terminated to avoid duplication of roles,” sources said.
Byju’s said in a statement that the downsizing is part of its business restructuring exercise effected by India CEO Arjun Mohan in Oct 2023 to simplify operating structures, reduce cost base and better cash flow management.
“As you are also aware, we are going through an extraordinary situation in the company because of the ongoing litigation with four foreign investors, where every employee and the ecosystem is going through tremendous stress, given the present circumstance,” a company spokesperson said. Byju’s currently has between 13,000-14,000 employees. Since Oct 2022, the Bengaluru-based startup has laid off over 5,000 employees.



[ad_2]
Source link

Gadget Explorer Pro

Gadget Explorer Pro is an expert writer specializing in comprehensive reviews, insightful articles, and detailed comparisons of consumer electronics. With a passion for technology and years of experience, they offer unbiased analysis of the latest gadgets, from cameras to smart home devices. Known for making complex tech understandable, Gadget Explorer Pro helps readers make informed decisions. Follow them for expert advice and the latest trends in the world of technology.

Leave a Reply