Amid Layoffs, Byju's Says It Is "Optimising" Teams
NDTV
According to Moneycontrol report, the company is looking to cut costs with demand for edtech services moderating after two years of excessive growth
Amid news of edtech company Byju's having laid off 2,500 employees across its group companies, as reported by Moneycontrol, the company went into damage control and issued a statement saying, it was "optimising" its teams across group companies. It added that the "entire exercise involves less than 500 employees across Byju's group companies".
"We strongly deny the misinformation presented by Moneycontrol. To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams across our group companies. This entire exercise involves less than 500 employees from across Byju's group companies," a company spokesperson said.
According to the Moneycontrol report, Byju's is looking to cut costs with demand for edtech services moderating after two years of excessive growth.
“Byju's has laid off full-time and contractual employees from Toppr, WhiteHat Jr, and its core team across sales and marketing, operations, content and design teams,” the Moneycontrol report quoting sources said.
