Byju’s Office Shut Down: Edutech company Byju, which came under the target of ED after cash crunch and huge debt, has decided to close all its offices. The company has ordered employees to work from home.
Byju Crisis: After the cash crunch and huge debt, the troubles of edutech company Byju, which has come under the target of ED, are not showing signs of abating. The company, which is struggling with cash crunch, does not even have money to pay salaries to its employees. Now the company has decided to close all its offices across the country. To reduce expenses, the company has decided to close Byju’s offices spread across the country. Byju has more than 20 regional offices. Byju’s has regional offices in 20 cities of the country including Delhi, Gurugram, Mumbai, Pune, Hyderabad, Chennai, which are now going to be closed. The company had started the process of re-structuring the office just a few months ago. Now all regional offices are being closed to cut costs.
Byju’s offices closed across the country
Company founder Byju Raveendran has ordered the closure of Byju’s offices across the country in order to reduce costs amid the crisis. The company is failing to pay salaries to its employees. After the dispute with investors, the company is not able to even pay salaries to its 20 thousand employees. Now the company has decided to close Byju’s offices across the country. The company has taken this decision due to cost cutting.
Byju’s employees will work from home
The company has decided to close all its offices across the country except the headquarters. All the offices of Byju’s have been closed across the country except its headquarters located in IBC Knowledge Park, Bengaluru. All employees have been asked to work from home.
Will Byju’s tuition centers also be closed?
Byju’s tuition centers will continue to function. The company has decided to continue the tuition centre. Tuition center employees will also come to office. The company is trying to save money by closing the office. The company is trying to reduce the burden by cutting costs. The company’s founder Byju Raveendran had promised to pay the February salary to the employees by March 10, but the company, which was struggling with cash crunch, failed to do so. Byju’s employees have not even received their February salaries yet. There is a dispute going on between the founder and the board of the company. Investors want to form a new board for the company. The company’s big investors want to remove Byju Raveendran and his family from the board.
