As the company goes into a cost-cutting mode, chasing profitability, the number of job losses could be many times the number Byju’s has put out.
Byju’s, India’s largest education technology company, with a valuation north of $22 billion, plans to lay off about 12,000 people, nearly 25% of its total workforce, over the next year, according to five people in the know.
Earlier this month, in separate press statements, co-founder Divya Gokulnath and chief operating officer Mrinal Mohit said Byju’s will lay off 2,500 employees over six months, as the company reduces redundancies, consolidates its subsidiaries into one India business and focuses on sustainable growth and profitability. But the plan is to do larger and deeper cuts across verticals over the next year, according to …
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