According to Moneycontrol, Byju’s, an edtech company, has let go of nearly 2,500 staff members from both its core team and affiliate businesses.
The report states that both full-time and contract employees from the core team’s sales and marketing, operations, content, and design areas were laid off.
The announcement comes after it was revealed that Toppr and WhiteHat Jr, two businesses owned by Byju, had each laid off roughly 300 employees.
According to the report, the move is a part of the India-based edtech company’s drive to reduce costs as demand for online education continues to decline as a result of the reopening of schools and universities.
The world’s most valuable edtech startup, founded in 2011 by Byju Raveendran and his wife Divya Gokulnath, is currently valued at US$22 billion. It operates in more than 100 nations and provides services to more than 150 million students worldwide.
