To Become Profitable, Byju's To Lay Off 2,500 Employees In Next Six Months

Byju's says it will start focussing on building brand awareness overseas through new partnerships and hire 10,000 teachers for India

Edtech major Byju's has chalked out a plan to become profitable by March 2023 to optimise its marketing and operational cost, which will lead to retrenchment of 5 per cent employees or about 2,500 people in next six months.

Byju's co-founder Divya Gokulnath told PTI that the company will start focussing on building brand awareness overseas through new partnerships and hire 10,000 teachers for India and overseas business.

"We have designed a path to profitability which we plan to achieve by March 2023. We have built significant brand awareness throughout India and there is scope to optimise marketing budget and prioritise the spends in a way that it creates a global footprint. Second is operational cost and the third is integration of multiple business units," Gokulnath said.

She said that the K10 subsidiaries -- Meritnation, TutorVista, Scholar and HashLearn -- will now be consolidated as one business unit under India business.