Following a performance evaluation process, the edtech platform Byju’s reportedly let go of 400 employees, however the company’s official statement claims that just 100 people were impacted. The platform asserts that the action is a weeding out of underperformers rather than a cost-cutting measure. Byju’s emphasizes that the post-sale section is unaffected and, in fact, has strengthened it by hiring 200 additional employees in the last two months.
This follows a string of layoffs, including 900 to 1,000 earlier this year, carried out in accordance with the optimisation plan unveiled last year, which was intended to streamline operations and resulted in the firing of 2,500 employees. In order to improve cost efficiency, 600 people were laid off from Byju’s group firms, WhiteHat Jr. and Toppr, last year.
Byju’s financial reporting has been scrutinized and delayed, and as a result, regulatory organizations like the Institute of Chartered Accountants of India (ICAI) and the Ministry of Corporate Affairs have launched investigations.
This follows a string of layoffs, including 900 to 1,000 earlier this year, carried out in accordance with the optimisation plan unveiled last year, which was intended to streamline operations and resulted in the firing of 2,500 employees. In order to improve cost efficiency, 600 people were laid off from Byju’s group firms, WhiteHat Jr. and Toppr, last year.
Byju’s financial reporting has been scrutinized and delayed, and as a result, regulatory organizations like the Institute of Chartered Accountants of India (ICAI) and the Ministry of Corporate Affairs have launched investigations.
