3rd April 2024 – In a new wave of layoffs, Byju’s has started to let go of around 500 workers, according to The Economic Times. The notice period is being given to the workers over the phone, and they need to be given a chance to serve it out before being let go. This occurs at a challenging moment for the business, which needs help raising the funds necessary to maintain operations.
According to people who were aware of the situation stated in the article, approximately 240 of them worked in Byju’s Tuition Centre activities. The remaining ones, however, are part of the corporation’s business verticals, which include test preparation and K–10 education.
The company’s manager, who wished to remain anonymous, said that the reason for the layoffs was that Byju’s was short on funds and had to choose the least productive workers over eight weeks.
Conclusion
The corporation said that this is part of a strategy they announced in October 2023 to streamline their operations, save costs, and improve financial management. However, they still need to provide precise data about the number of workers impacted.
