Edtech main BYJU’S has laid off near 1,000 staff throughout departments as a part of its restructuring course of, sources conscious of the event mentioned on Monday.
The contemporary spherical of layoff comes at a time when the corporate has entered right into a authorized battle with lenders within the US for $1 billion time period mortgage B.
“BYJU’S has laid off near 1,000 staff. Nevertheless, the ultimate headcount of the corporate stays round 50,000 due to the addition of latest staff,” a supply conscious of the event advised PTI.
BYJU’S had introduced slicing about 5 per cent of two,500 staff over six months beginning October 2022 because it unveiled the corporate’s plan to turn out to be worthwhile by March 2023.
“The latest layoff is a part of the corporate’s price optimisation course of,” the supply mentioned.
An electronic mail question despatched to BYJU’S elicited no reply.
