Byju’s, the prominent edtech company, has faced yet another setback as reports emerge of the dismissal of approximately 500 employees, primarily in sales and marketing roles across various divisions. This move follows recent challenges in meeting payroll obligations due to funding shortages, indicating ongoing financial difficulties for the company.
Sources familiar with the matter revealed that Byju’s has resorted to laying off employees over the phone, with little to no prior notice. This abrupt action has left many employees unsettled and uncertain about their future.
Among those affected by the layoffs, approximately 240 individuals were part of Byju’s Tuition Centre operations, while the remaining employees were spread across other business divisions, with a focus on K-10 education and examination preparation.
The decision to reduce its workforce underscores Byju’s ongoing efforts to address financial constraints and streamline its operations amid market challenges. However, the manner in which these layoffs were executed has raised concerns about employee welfare and organizational transparency.
As Byju’s navigates these turbulent times, it faces mounting pressure to restore stability and regain investor confidence while ensuring the well-being of its workforce.
