Byju’s To Lay Off 4000 Employees

India's largest edtech platform Byju's is set to lay off around 4,000 employees, which is 11 per cent of its total workforce, in the next few weeks as part of a restructuring exercise, according to media reports.

The restructuring exercise will be undertaken in new leadership of Arjun Mohan, who has been appointed as the CEO of Byju's recently, replacing Mrinal Mohit.

The layoff exercise will be mostly limited to Byjus only, doesn’t include its subsidiary firms like Whitehat Jr, Topper, Grade Up and etc.

According to media reports, Byju's former CEO and co-founder Byju Raveendran has given a free hand to Mohan for the restructuring decision. This decision has also been disclosed to the company's investors.

Officially, Byju's did not respond to the media house's request to comment on the layoffs issue.

In the last one-year Byju's and its subsidiary companies laid off nearly 1000 employees from various positions including managers.

"According to a media report, the company reorganization effort aimed to streamlining operations, reducing costs, and improving cash flow management. The newly appointed CEO of Byju's India, Arjun Mohan, will oversee the completion of this process in the upcoming weeks and will lead the company towards an efficient and sustainable future."

The latest restructuring plan is part of Byju's plan to cut costs and streamline its business.

The Bengaluru-based startup is currently facing numerous problems, one of the biggest being USD 1.2 Billion Term Loan. The Ed-Tech company t is struggling to repay the loan.

Currently, Byju's is looking to sell two of its subsidiaries that are quired previously Great Learning and Epic at a valuation of USD 800 Million-USD one billion.