Byju’s begins another layoff, to impact 500-1,000 employees

The fresh set of layoffs is expected to impact employees across marketing, sales, business development as well as product and technology functions. It also includes teams at its coding subsidiary, Whitehat Jr., sources added.

Earlier this month, the edtech startup which continues to be at loggerheads with lenders of its $1.2 billion term loan B, had parted ways with at least 1,000 individuals, which largely included contractual workers and on-ground staff sourced from third-party staffers.

ETtech

Also read | Byju’s lenders scrap talks to restructure $1.2 billion loan

The impacted contractual staff included on-ground sales teams, from third-party staffers such as Randstad and Channelplay, ET reported on June 8, citing sources.

The layoffs add to the back-to-back cost-cutting exercises that Byju’s has initiated since last year to streamline operations, with digital K-12 (kindergarten to grade 12) education businesses finding it difficult to acquire new customers.

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In October last year, the company had said it would look at ‘rationalising costs’ and part ways with 2,500 employees. ET had reported on February 2, that the company had let go of another 1,000 employees impacting many senior vice presidents drawing salaries of Rs 1 crore and above.