Byju’s fires over 500 staffers over phone calls after reported delayed salaries

In a recent development reported by Moneycontrol.com, Byju's, an Indian edtech firm, has started theprocess of employee layoffs as part of its ongoing business restructuring efforts.According to sources cited in the report, Byju's is conducting the layoffs primarily through phone calls, followed by email notifications to affected employees.

These notifications specify the termination date as March 31, 2024, and instruct employees to comply with exit procedures, including the return of company assets and proprietary information.

The report suggests that the layoffs are expected to affect a majorportion of Byju's workforce, with estimates ranging between 100 to 500 employees. The sales division appears to be particularly vulnerable to these restructuring measures.

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Previous layoffs

Byju's has a history of implementing layoffs, having terminated over 10,000 employees in the past two years.

These actions have been attributed to various factors, including financial strugglesand legal disputes with investors and stakeholders.

Despite these layoffs, the company's Indian workforce remains substantial, as it currently employs nearly 14,000 people.

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In response to inquiries, a spokesperson from Byju's informed Moneycontrol that the layoffs are part of a broader business restructuring initiative announced in October 2023. This initiative is in placeto streamline operations, reduce costs, and improve cash flow management.

The spokesperson also spoke about the challenges faced by Byju's due to ongoing litigation.

(With inputs from agencies)