BYJU'S to lay off 1,000 employees, move to impact sales, marketing teams the most: Report
The company reportedly will give the affected employees two months' pay in severance
Edutech company BYJU'S is reportedly planning to fire over 1,000 employees in months, according to reports citing an internal communication. The company reportedly will give the affected employees two months' pay in severance.
Reports say the move will most likely hurt the sales and marketing teams at BYJU'S. The marketing executives at the company are on third-party payrolls of companies like Channelplay and Ranstand.
The company was also in the news this week for defaulting on an interest payment of $40 million over its loan of $1.2 billion.
After that, the Indian edtech company filed a complaint in New York Supreme Court, suing some of its lenders and calling them "predatory."
The fresh round of firings comes after BYJU'S let go of over 5,000 employees a few months ago as part of its cost-cutting exercise.
