Byju’s, India’s leading online education platform is planning to lay off more of its workforce. According to media reports, Byju’s will be laying off more than 1000 employees. The company has claimed that they are cutting off workforce as a part of cost cutting and to make their operations smoother and more effective.
Earlier, in 2022, Byjus’s had laid off 2500 of its employees, who, mostly, were affected from sales and third party. The layoffs were also made as the company is reportedly going through a low phase economically.
Byju’s has emerged as one of the top online educational platforms in India. The startup provided innovative solutions and has grown tremendously in the EdTech sector. However, the changing dynamics in the market has led Byju’s to make this decision.
The decision of downsizing the workforce is a challenging one, and Byju’s has acknowledged the impact it will have on its employees. The startup will work towards supporting the laid off by offering placement services, severance packages, and career counseling.