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Edtech Major Byju's Lays Off Over 1,000 Employees From Engineering Teams
Edtech major BYJU's has laid off further 15 per cent of its employees from its engineering teams, as the company continues phased layoffs to remain growth-oriented in global economic meltdown.
According to sources, the company in a fresh round of layoffs has asked more than 1,000 workers (or 15 per cent) to go, mostly from its engineering teams.
When reached, the company immediately declined to comment.
BYJU's last year decided to lay off as many as 2,500 employees or 5 per cent of its workforce in order to achieve profitability by March 2023.
In India, more than 21,000 employees have been laid off by more than 70 startups to day, including from unicorns like BYJU'S, Ola, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more.
The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Thu, February 02 2023. 19:05 IST
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