Business

Byju’s Layoffs: Staff Termination via Calls, No Notice Period Provided

According to the report, which cited persons with knowledge, the edtech company Byju’s started making layoffs over the phone and is terminating workers without placing them on a performance improvement plan (PIP). Additionally, the report said that the corporation is not requiring workers to serve a notice period.

Byju’s layoffs: How many employees could be affected?

The article stated that between 100 and 500 workers may be affected by Byju’s latest wave of layoffs. Perhaps the most impacted area would be the company’s sales department.

Byju’s layoffs so far

Byju has fired at least 10,000 workers in the last two years due to financial difficulties and legal disputes with stakeholders and investors. Currently, Byju’s India company employs close to 14,000 people.

Byju’s layoffs: What did Byju say about layoffs?

A representative for Byju told Moneycontrol, “We are nearing the end of a company reorganization effort that was launched in October 2023 to improve cash flow management, streamline operating structures, and lower the cost base. Due to the ongoing litigation, the company is going through an unusual period of change. Given the current situation, every employee and the ecosystem as a whole are extremely stressed.

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What has Byju emailed employees regarding layoffs?

“This is to confirm that your last working day with Think and Learn Pvt Ltd will be March 31, 2024,” is the email that Byju’s is sending out in response to phone calls during the current wave of layoffs. We’ll handle your complete and final settlement in accordance with the exit policy. In order to finalize your full and final compensation, kindly turn over all of the company’s assets and confidential information that you now possess. For any questions regarding the exit process, please email separations@byjus.com.