Byju’s laying off employees via phone calls, dropping notice period: Report

Posted on by

Edtech firm Byju’s is laying off employees over the phone and letting them go without serving notice period, Moneycontrol.com reported, quoting sources.


The website said Byju’s is following phone calls with emails to employees that read, “This is to confirm that your last working day with Think and Learn Pvt Ltd [the company that owns Byju’s] will be March 31, 2024. Your full and final settlement will be done as per the exit policy. Please hand over all the assets and proprietary information of the company that are in your possession to enable processing your full and final settlement. In case of any queries on exit formalities, please contact [email protected].”


The layoffs are estimated to affect between 100 to 500 employees, said the report. The sales division of the company is likely to be the most heavily impacted sector, it added.


Over the last two years, Byju’s has laid off more than 10,000 employees amidst financial challenges and legal disputes with investors and stakeholders. Currently, the company’s Indian entity employs nearly 14,000 individuals.


A Byju’s spokesperson told Moneycontrol, “We are in the final stages of a business restructuring exercise announced in October 2023 to simplify operating structures, reduce the cost base, and improve cash flow management.”


“We are going through an extraordinary situation in the company because of the ongoing litigation, where every employee and the ecosystem itself are going through tremendous stress given the present circumstances,” said the spokesperson.

First Published: Apr 02 2024 | 2:56 PM IST