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Byjus to Layoff 2500 Employees this Financial Year – Targets Profits

Byjus to Layoff 2500 Employees this Financial Year – Targets Profits

According to Byju’s, around 5% of its workforce is expected to be rationalised across product, content, media, and technology teams in a phased manner.

“To avoid redundancies and duplication of roles, and by leveraging technology better, around 5 per cent of Byju’s 50,000-strong workforce is expected to be rationalised across product, content, media, and technology teams in a phased manner,” said the company in a statement.

In June, Byju’s laid off about 600 employees at its group companies —WhiteHat Jr and Toppr. It was a move to drive cost efficiency, according to the company.

Under the optimisation plan, the company said it looks to target profitability by March 2023 and bring the K10 subsidiaries — Meritnation, TutorVista, Scholar, and HashLearn — under the India business unit. Aakash and Great Learning would function separately.

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