Byju’s will lay off 500 employees, tuition centers will be affected

Byju had earlier indicated that around 4,500 people would be affected by the business revamp exercise. Let us tell you that in October and November last year also, about 2500-3000 people were fired from their jobs. There is still a possibility of 1000-1500 more people being laid off. Byju had recently informed about the delay in paying March salaries to its employees.

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Edtech company Byju’s, which is facing financial crisis, is going to lay off about 500 employees. According to sources, the company says that this layoff is being done as part of the final round of business restructuring. The company will start this layoff in the next 15-20 days. Sales, teachers and employees associated with some tuition centers will be affected by this layoff. Some employees say that they have been informed about the layoffs through phone.

This move of the company will affect the latest round of sales work, teachers and some tuition centres. However, sources said that Byju may need to streamline things further only in a very bad situation. “We are in the final stages of the business restructuring exercise announced in October 2023 to simplify the operating structure, reduce cost base and better cash flow management,” a Byju spokesperson said. Regrets the ‘unfortunate situation’ in which the company has been forced.

Byju had earlier indicated that around 4,500 people would be affected by the business revamp exercise. Let us tell you that in October and November last year also, about 2,500-3,000 people were fired from their jobs. There is still a possibility of 1000-1500 more people being laid off. Byju had recently informed about the delay in paying March salaries to its employees.

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