Byju laying off hundreds of employees all at once.

Byju's company Toppr has laid off 1,100 staff asking them to resign, failing which they will be terminated without any notice period.

0
9
Byju App

According to news agency PTI, Edtech giant Byju’s group firm Toppr fired 1,100 employees earlier this week by calling them and asking them to put down their papers. This comes in the wake of reports that Whitehat Jr, another Byju company, has laid off around 300 people. The figures are not confirmed, as Byju’s claims that no more than 500 employees have been laid off across all of Byju’s companies.
A person associated with the Chemistry subject matter expert team told PTI that approximately 36% of Toppr’s workforce had been laid off, adding that the entire team where he worked had been laid off. “I am part of the Chemistry subject matter expert. My entire team has been laid off. Toppr has promised 1-month salary for those who resign and no salary for those who don’t,” the person said.
In July of last year, Byju’s paid approximately $150 million for Toppr. In addition, Whitehat Jr was purchased for $300 million in 2020.
According to experts, after physical classes resumed, all edtech companies struggled because online classes are no match for physical classes. According to a Toppr employee who was laid off, “We have been getting some indication about low business after offline classes resumed across the country. I have worked at Whitehat Jr also. Online education is unable to match offline classes. ”
According to a spokesperson for Byju, the decision has been made to realign business priorities and optimise teams.
Meanwhile, according to a person familiar with the situation, Byju’s has made an offer to buy 2U Inc. for more than $1 billion in cash. According to reports, Byju’s has delayed payments for a $1 billion acquisition of test-preparation provider Aakash Educational Services that was completed last year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here