India’s online education provider Byju’s has laid off 2,500 employees across its group companies as the most valuable unicorn looks to mitigate the effects of slowing demand after two years of hypergrowth, according to Indian media reports. The Byju Raveendran-led edtech platform has laid off full-time and contractual employees from Toppr, WhiteHat Jr, and its core team across sales and marketing, operations, content and design teams, Moneycontrol reported quoting sources.&nbsp; About 1,200 employees from Toppr alone were sacked, including 300-350 permanent employees., while another 300 employees were reportedly told to tender their resignations, or were told that they will not get salaries for about 1-1.5 months.

Moreover, about 600 contractual employees were laid off, whose tenures were scheduled to end around October or November, this year, according to reports.

The main reason being attributed to the mass layoffs are “cost-cutting and redundancy in roles”.

However, a spokesperson of Byju’s refuted Moneycontrol's reports on the number of persons being sacked, saying, “We strongly deny the misinformation presented by Moneycontrol. To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams from our group companies. This entire exercise involves less than 500 employees from across Byju's Group companies.”

This comes days after a Bloomberg report showed that Byju's was delaying payments for an approximately $1 billion acquisition deal finalised last year, citing sources familiar with the development.

PTI reported that edtech major Byju's group firm Toppr has laid off 1,100 staff or about 36 per cent of its workforce from the company earlier this week, according to some of the employees who have been hit by the decision.

Toppr's sacked employees said that they got a call from the company on Monday and were asked to resign, failing which they will be terminated without any notice period.

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

India’s online education provider Byju’s has laid off 2,500 employees across its group companies as the most valuable unicorn looks to mitigate the effects of slowing demand after two years of hypergrowth, according to Indian media reports.

India’s online education provider Byju’s has laid off 2,500 employees across its group companies as the most valuable unicorn looks to mitigate the effects of slowing demand after two years of hypergrowth, according to Indian media reports. The Byju Raveendran-led edtech platform has laid off full-time and contractual employees from Toppr, WhiteHat Jr, and its core team across sales and marketing, operations, content and design teams, Moneycontrol reported quoting sources. About 1,200 employees from Toppr alone were sacked, including 300-350 permanent employees., while another 300 employees were reportedly told to tender their resignations, or were told that they will not get salaries for about 1-1.5 months. Moreover, about 600 contractual employees were laid off, whose tenures were scheduled to end around October or November, this year, according to reports. The main reason being attributed to the mass layoffs are “cost-cutting and redundancy in roles”. However, a spokesperson of Byju’s refuted Moneycontrol's reports on the number of persons being sacked, saying, “We strongly deny the misinformation presented by Moneycontrol. To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams from our group companies. This entire exercise involves less than 500 employees from across Byju's Group companies.” This comes days after a Bloomberg report showed that Byju's was delaying payments for an approximately $1 billion acquisition deal finalised last year, citing sources familiar with the development. PTI reported that edtech major Byju's group firm Toppr has laid off 1,100 staff or about 36 per cent of its workforce from the company earlier this week, according to some of the employees who have been hit by the decision. Toppr's sacked employees said that they got a call from the company on Monday and were asked to resign, failing which they will be terminated without any notice period. (With inputs from agencies) WATCH WION LIVE HERE

India's edtech firm Byju’s sacks 2,500 employees, company says ‘recalibrating business priorities’: Report

It's been two years of this pandemic, two years since the coronavirus overshadowed everything and emerged as a bane in all of our lives.

Two years of staying cooped up in our houses, two years of staying away from the things, the people, the experiences we love and two years of work from home (WFH).

Watch |&nbsp;Gravitas: Will offices go extinct in a post-pandemic world?

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-will-offices-go-extinct-in-a-post-pandemic-world-413635/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Okay, the last thing was actually good. Only a small group of people would say that they missed working from the office, waking up early, and the commute time. We didn't realise how much time we actually wasted on those things and now that we have, a large number of people don't want to go back to it.

This is what happened with over 800 employees of WhiteHat Jr, a startup, one of India's premier education technology firms.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/yes-to-work-from-home-survey-finds-that-not-even-15-europeans-want-to-go-back-to-office-435342">'Yes' to work from home; survey finds that not even 15% Europeans want to go back to office</a>

As per a report by Inc42, over 800 employees from different sections of the company have handed in their papers in the last 60 days.&nbsp;

The firm, which was acquired by Byju's sent out emails on 18th March, to its employees, asking them to return to offices in Mumbai, Bengaluru, and Mumbai. The company reportedly gave its employees a one month notice of relocation, but what followed the email was a mass resignation.

Also read |&nbsp;<a href="https://www.wionews.com/world/work-from-home-employees-are-quitting-instead-of-returning-to-the-office-389202">Work from home: Employees are quitting instead of returning to the office</a>

The move to end WFH ruffled some feathers and hundreds of employees chose to quit instead. Some of the employees say that one month's time isn't enough.

As per a report by Inc42, another factor behind this mass resignation is salaries. This is because affected employees believe that the move to these expensive cities should've come with a pay hike.

(With inputs from agencies)

It's been two years of this pandemic, two years since the coronavirus overshadowed everything and emerged as a bane in all of our lives. Two years of staying cooped up in our houses, two years of staying away from the things, the people, the experiences we love and two years of work from home (WFH).

It's been two years of this pandemic, two years since the coronavirus overshadowed everything and emerged as a bane in all of our lives. Two years of staying cooped up in our houses, two years of staying away from the things, the people, the experiences we love and two years of work from home (WFH). Watch | Gravitas: Will offices go extinct in a post-pandemic world? Okay, the last thing was actually good. Only a small group of people would say that they missed working from the office, waking up early, and the commute time. We didn't realise how much time we actually wasted on those things and now that we have, a large number of people don't want to go back to it. This is what happened with over 800 employees of WhiteHat Jr, a startup, one of India's premier education technology firms. Also read | 'Yes' to work from home; survey finds that not even 15% Europeans want to go back to office As per a report by Inc42, over 800 employees from different sections of the company have handed in their papers in the last 60 days. The firm, which was acquired by Byju's sent out emails on 18th March, to its employees, asking them to return to offices in Mumbai, Bengaluru, and Mumbai. The company reportedly gave its employees a one month notice of relocation, but what followed the email was a mass resignation. Also read | Work from home: Employees are quitting instead of returning to the office The move to end WFH ruffled some feathers and hundreds of employees chose to quit instead. Some of the employees say that one month's time isn't enough. As per a report by Inc42, another factor behind this mass resignation is salaries. This is because affected employees believe that the move to these expensive cities should've come with a pay hike. (With inputs from agencies)

Post-pandemic woes: Hundreds in Indian start-up opt to quit instead of going back to office

whitehat-jr

Whitehat Jr, News on Whitehat Jr, stories on Whitehat Jr, articles on Whitehat Jr, Whitehat Jr stories at Wion, Whitehat Jr news, Whitehat Jr latest news

whitehat jr

India's edtech firm Byju’s sacks 2,500 employees, company says ‘recalibrating business priorities’: Report

Post-pandemic woes: Hundreds in Indian start-up opt to quit instead of going back to office