NEW DELHI: Edtech main BYJU‘s has laid off close to 1,000 employees across departments as a part of its restructuring course of, sources conscious of the event mentioned on Monday.
The contemporary spherical of firing comes at a time when the corporate has entered right into a authorized battle with lenders within the US for USD 1 billion time period mortgage B.
“BYJU’s has laid off close to 1,000 employees. However, the final headcount of the company remains around 50,000 because of the addition of new employees,” a supply conscious of the event advised PTI.
BYJU’s had introduced chopping about 5 per cent of two,500 employees over six months beginning October 2022 because it unveiled the corporate’s plan to turn into worthwhile by March 2023.
“The recent layoff is part of the company’s cost optimisation process,” the supply mentioned.
An e-mail question despatched to BYJU’s elicited no reply.
The contemporary spherical of firing comes at a time when the corporate has entered right into a authorized battle with lenders within the US for USD 1 billion time period mortgage B.
“BYJU’s has laid off close to 1,000 employees. However, the final headcount of the company remains around 50,000 because of the addition of new employees,” a supply conscious of the event advised PTI.
BYJU’s had introduced chopping about 5 per cent of two,500 employees over six months beginning October 2022 because it unveiled the corporate’s plan to turn into worthwhile by March 2023.
“The recent layoff is part of the company’s cost optimisation process,” the supply mentioned.
An e-mail question despatched to BYJU’s elicited no reply.
