Edtech firm Byju’s targets to reach break-even by March, hive off Epic
Edtech major BYJU'S has set the target to become profitable by March 2024 on account of consolidation and restructuring of the organisation and settlement on USD 1.2 billion loan, sources aware of the development said.
The company has undertaken exercise to reduce workforce by about 3,000-3,500 this month by ending duplication in roles across the organisation.
"Think and Learn Private Ltd (TLPL) restructuring will see the current operations spread across several business units streamlined into four core areas of K-12, test prep, online and hybrid. The business restructuring, aimed at matching resources with cash flows, will see the company achieve break-even by coming March, in fourth quarter of current fiscal," a source said.
BYJU'S declined to comment on a qu...
