Byju’s kicks off fresh layoffs
MUMBAI: After delaying employee salary payments for two months in a row, cash-starved Byju's has started fresh layoffs across departments. These are expected to impact about 500 company staff, sources aware of the development said. While the bulk of job cuts will be implemented across the sales department, employees working with the company's tuition centres including teachers have also been affected. Byju's has shut 30 of its 292 tuition centres over the past few months. "The layoffs started 15-20 days ago. Jobs of several employees in the lower-to-mid-senior level has been terminated to avoid duplication of roles," sources said. Byju's said in a statement that the downsizing is part of its business restructuring exercise effected by India CEO Arjun Mohan in Oct 2023 to simplify operatin...