Byju’s to shed thousands more jobs

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Editor's note: Edtech major Byju’s, India’s most valuable unicorn last valued at $22 billion, is letting go of up to 5,000 employees across verticals, according to a person in the know. Most of the layoffs are expected to be across its category and strategy teams.  “The earlier round, in which about 15,000 people were let go, is over,” says the person cited above, asking not to be named. “This new round of layoffs was decided internally about two weeks ago.” In October, the Bengaluru-based company had said it would lay off 2,500 people over six months. The same month, we reported that Byju’s could fire up to 12,000 employees over a year, which it denied.  However, data from the Employees’ Provident Fund Organization sourced from corporate data provider Crediwatch shows the company processed provident funds for 32,720 employees in November, compared with 50,618 in September and an all-time high of 58,334 in June. “There are massive layoffs happening right now,” says a second person in the know, asking not to be named. “Almost all of the K10 team, which is around 500+ …