23 March 2024 – As part of its cost-cutting strategy, edtech giant BYJU’s, operated by Think and Learn, has announced the closure of 30 out of its 292 tuition centres. The move aims to optimize costs and enhance profitability, with a focus on achieving sustainability in the third year of operations for most centres.
BYJU’s emphasized its commitment to quality education while implementing efficiency measures to drive profitability. Ninety percent of its tuition centres, totaling 262, will continue operating under a hybrid model, integrating advanced technology to enhance learning experiences.
In a statement, BYJU’s highlighted its dedication to operational efficiency, acknowledging opportunities for improvement in a small percentage of tuition centres. These centres will undergo strategic restructuring to align with BYJU’s long-term vision.
Expressing gratitude to students and parents for their trust and support, BYJU’s affirmed that most current students have enrolled for the upcoming academic year (2024-25). The company’s proactive measures reflect its commitment to sustainable growth and operational excellence.
In conjunction with these initiatives, BYJU’s has scheduled an extraordinary general meeting (EGM) on March 29 to discuss increasing the authorized share capital following a recent $200 million rights issue.
