Byju’s new CEO has announced the reduction in workforce as a major restructuring activity. The figure of such reduction is about 4500 as reported. It is equivalent to around 33% of company total workforce. It is claimed that this exercise will bring long term stability. This exercise is limited to Indian unit as per media reports.
The headcount reduction will affect both permanent and contractual staff members at Think & Learn, the parent company of Byju’s. Significantly, these job cuts are not associated with any of Byju’s subsidiaries, but many senior positions within the company will become redundant.
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Byju’s, which once had approximately 52,000 employees in 2021, currently employs over 35,000 , having resorted to terminations repeatedly over past year to control the financial crisis.
This time job cuts aim to create leaner structures and reduce costs, particularly given the high salaries of some senior executives hired during the peak of the pandemic-driven online education surge as reported.
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