Byju’s To Cut 5 Per Cent Of Employees In 6 Months
The Indian Ed-tech company Byju’s has planned to lay off 2,500 in the coming six months, the company calling it a roadmap for next year to attain profitability and rationalise the workforce. As per a media statement by the company, the current layoffs will happen in a phased manner, across the departments of product, content, technology and media. The latest releases aim to avoid redundancy and duplication of roles by leveraging technology.
As per some reports, the company is looking to cut more of its field sales and aspire to focus more on inside selling, Byju’s is mainly aiming for customer satisfaction. These layoffs come just when the Company has seen an uptick in its financial losses. In the previous financial year of 2023, the Company saw a loss of Rs 4588 crore, which was more than the Rs 231.69 crore loss in the financial year 2020. Earlier this year, Byju’s laid off 600 employees at WhiteHatJr.
Due to a lack of proper funding, many ed-tech companies and startups are laying off employees for cost efficiency. On contrary, to carry on its growth path, Byju’s plans to hire 10,000 teachers by the end of the year, taking the total strength of teachers from 20,000 to 30,000.
