Byju's lays off 1,000 staffin latest round of job cuts

Edtech unicorn Byju’s has laid off around 1,000 employees in the past few days, multiple people aware of the development said, amid a tussle with lenders and a challenging fundraising environment

- Sneha Shah & Ranjani Raghavan

The job cuts affected middle and senior employees across levels, said one of the people, all of whom spoke on condition of anonymity.

A second person said the layoffs are part of the wider cost-cutting measures being undertaken by the company.

“The idea is to get closer to profitability," he added.

Teachers were spared in the latest job cuts while the axe fell on the administrative, human resources, and marketing departments, the people added. Even before the latest layoffs, some of the teachers, who had joined Byju’s and its unit Aakash Educational Services Ltd, had already left.

With the latest job cuts, the fourth in the last 12 months, 12,000-13,000 Byju’s staffers have lost jobs, three people aware of the development said.

Mint could not independently verify this number. The company has more than 50,000 employees across India and other markets.