Byjus To Fire Around 1000 Employees Offer 2 Month Severance Pay more details

Byju’s may lay off 1000 more people from its workforce. About 6 months ago the company had fired 5000 people. Tech companies continue to lay off employees. But now Byju’s associated with education technology has also joined it. Cost cutting is being cited as the reason for the layoffs.

Byju’s, a company related to education technology, is going to lay off for the second time within the last 6 months. The company is going to lay off more than 1,000 people, such news has come to the fore. NDTV’s Report As of now, the company has 280 tuition centers in the country. It has been decided to remove 2 people from each of these from sales and marketing. Marketing managers have been given orders for this. Apart from this, 150 marketing managers will also be fired.

It has been said in the report that the biggest impact is going to be on the sales and marketing team. Even many senior sales managers and assistant general managers have left the Bangalore headquarter of the company. At the same time, the company has said that it will also give 2 months salary to support the fired people. But there is a huge shortage of cash in the company.

Recently, a controversy came to the fore regarding the company saying that Byju’s will no longer pay the loan of $ 1.2 billion to the lenders. Due to which it was speculated that the future of the company could be in danger. The company had to pay an interest of $40 million on Monday, which it did not pay. On June 6, it filed a complaint with the New York Supreme Court regarding the same loan. It was said that the financial condition of the company had become very thin. But Byju’s has denied all such rumours.