Byju's lays off another more than 1000 employees
Employees from engineering, sales, logistics, marketing and communications teams have been asked to leave, say media reports
Edtech firm Byju's has reportedly laid off another more than 1,000 employees. The move is being seen as an attempt to cut down costs amid slow revenue growth and funding winter.
According to one of the media reports, the company is laying off employees from the engineering, sales, logistics, marketing and communications teams.
One of the reports claimed that while 300 employees from the engineering team have been sacked, the strength of the logistics team has been brought down to 50 per cent.
The company had undertaken a round of lay off in October last year when it let go of 5 per cent of its total employees, amounting to 2,500 employees out of 50,000 strong workforce. At that time founder Byju Raveendran had justified the layoffs saying it was a critical step for the company to become profitable.
