In fresh restructuring, Byju's to lay off 2,500 employees

EXERCISE TO BE SPREAD OVER SIX MONTHS

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THE COUNTRY'S MOST-VALUED edtech startup Byju's said on Wednesday that it will lay off around 2,500 employees -5% of its 50,000-strong across various sub-workforce subsidiaries including Toppr, Meritnation, TutorVista, Scholr, and Hash-Learn to "avoid redundancies" in roles.

The edtech firm said that these businesses, which came to it as part of acquisitions, will now be consolidated as one business unit. Only Aakash and Great Learning, which were acquired in 2021 and 2022 respectively, will continue to function as separate organizations.

The layoffs will be in a phased manner, spread over the next six months.

"To avoid redundancies and duplication of roles, and by leveraging technology better, around 5% of Byju's 50,000-strong workforce is expected to be rationalised across product,content, media, and technology teams in a phased manner," the company said in a statement.

Even as it continues to lay off employees, Byju's said it plans to hire a total of 10,000 more teachers in the coming year, adding to its current strength of 20,000 teachers. To fuel its growth, the company also plans to expand its team strength across the senior leadership to further build operational strength.