Posted : Jun 29 07:34 AM
byjus lays off 2500 employees
Byju's, the $22 billion edtch company has laid off more than 2,500 employees across its group companies, according to a report by Moneycontrol.
According to the report, the company is looking to cut costs with demand for edtech services moderating after two years of excessive growth.
“Byju's has laid off full-time and contractual employees from Toppr, WhiteHat Jr, and its core team across sales and marketing, operations, content and design teams,” the Moneycontrol report quoting sources said.
“While on June 27 and June 28, Byju's laid off over 1,500 employees from Toppr and WhiteHat Jr, the two companies it acquired over the last two years, on June 29, it sent out e-mails to nearly 1,000 employees from its core operations teams,” the report added, quoting sources.