More layoffs at BYJU’S amid credit crunch; to impact 500+ employees

BYJU'S' fresh round of workforce reduction will affect employees in various departments, with people in sales taking most of the hit. Some teachers are also among those being laid off.

BYJU’S has initiated another round of job cuts impacting more than 500 people amid a severe liquidity crunch and an ongoing tussle with some of its investors, sources told YourStory. The company’s fresh round of workforce reduction will affect employees in various departments, with people in sales taking most of the hit, a source noted, adding that the edtech firm is also laying off some teachers. There has been some consolidation of BYJU’S Tuition Centre employees, including sales personnel, as well as certain teachers whose utilisation was below optimum, a person aware of the development said. Some teachers were given the option to transition to online teaching, with the remainder of their time allocated to teaching at the tuition centres, they added. Get connected to BYJU'S According to BYJU'S, the layoffs are part of the restructuring that started in October last year. BYJU’S was expected to execute a workforce reduction of over 5,000 permanent and contractual employees as part of the restructuring effort.  “We are in the final stages of a business restructuring exercise announced in October 2023 to simplify operating structures, reduce the cost base, and better cash flow management,” a BYJU’S spokesperson said in a statement. "We are going through an extraordinary situation in the company because of the ongoing litigation with four foreign investors, where every employee and the ecosystem is going through tremendous stress, given the present circumstances,” the statement added.

Sourced from Yourstory‍