MUMBAI: After delaying worker wage funds for 2 months in a row, cash-starved Byju’s has began contemporary layoffs throughout departments. These are anticipated to influence about 500 firm employees, sources conscious of the event mentioned.
Whereas the majority of job cuts will probably be carried out throughout the gross sales division, workers working with the corporate’s tuition centres together with lecturers have additionally been affected. Byju’s has shut 30 of its 292 tuition centres over the previous few months. “The layoffs began 15-20 days in the past. Jobs of a number of workers within the lower-to-mid-senior degree has been terminated to keep away from duplication of roles,” sources mentioned.
Byju’s mentioned in a press release that the downsizing is a part of its enterprise restructuring train effected by India CEO Arjun Mohan in Oct 2023 to simplify working constructions, scale back price base and higher money circulation administration.
“As you might be additionally conscious, we’re going by a unprecedented scenario within the firm due to the continued litigation with 4 international traders, the place each worker and the ecosystem goes by great stress, given the current circumstance,” an organization spokesperson mentioned. Byju’s at the moment has between 13,000-14,000 workers. Since Oct 2022, the Bengaluru-based startup has laid off over 5,000 workers.
Whereas the majority of job cuts will probably be carried out throughout the gross sales division, workers working with the corporate’s tuition centres together with lecturers have additionally been affected. Byju’s has shut 30 of its 292 tuition centres over the previous few months. “The layoffs began 15-20 days in the past. Jobs of a number of workers within the lower-to-mid-senior degree has been terminated to keep away from duplication of roles,” sources mentioned.
Byju’s mentioned in a press release that the downsizing is a part of its enterprise restructuring train effected by India CEO Arjun Mohan in Oct 2023 to simplify working constructions, scale back price base and higher money circulation administration.
“As you might be additionally conscious, we’re going by a unprecedented scenario within the firm due to the continued litigation with 4 international traders, the place each worker and the ecosystem goes by great stress, given the current circumstance,” an organization spokesperson mentioned. Byju’s at the moment has between 13,000-14,000 workers. Since Oct 2022, the Bengaluru-based startup has laid off over 5,000 workers.
