2,500 Byju’s employees to be laid off
The move is part of the company’s new strategy to achieve profitability
Byju's is going to retrench 5% of its employees in the next six months, as per media reports. Therefore, 2,500 staffers of the edtech firm are likely to be sacked.
This is part of the company's strategy to optimise marketing and operational costs.
Byju Co-founder Divya Gokulnath has told news agencies that the company will start focusing on building brand awareness. A "path to profitability" has been designed and it is to be achieved by March next year, she was quoted as saying.
In September, Byju’s Founder and CEO Raveendran Byju said while sharing the financial results that the company had started shifting its focus towards profitable growth and the overall idea was to allocate resources effectively.
