Byju’s Layoff: Country’s largest Edtech company Byju’s is preparing for layoffs. This time, 500 to 1,000 full-time employees are expected to be affected in the company’s retrenchment. The company is trying to reduce its expenses due to slowing down of growth and tough macroeconomic condition. Due to which all the teams are expected to be retrenched.
According to the report of Economic Times, in this new retrenchment, the effect of this retrenchment can be seen in marketing, sales, business development, apart from product and technology functions. The layoffs will impact the company’s subsidiary Whitehat Jr. Can also be seen in
Edtech startup company Byju’s is embroiled in a dispute with its lenders over a $1.2 billion term loan. Recently many contract employees have been affected. In addition to the on-ground sales team, third party staffers such as Randstad Channelplay are included.
In October last year too, Byju’s had said that it may lay off 2500 employees to cut costs. In February too, there was news that 1,000 employees had been retrenched, including those sitting on the post of Senior Vice President who were getting salary up to Rs 1 crore. Byju’s has been undertaking layoffs for the past several months to cut costs and streamline operations.
Byju’s is an Online Teaching App. Through which children can study while staying at home. Byju’s is an online education startup officially called Think and Learn. This startup was founded by Byju Ravindran. More than 80 million people in India are using the Byju’s app.
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