BYJU's, the world's most valued edtech startup, will be laying off about 2,500 employees across departments to cut costs amid mounting losses.
"To avoid redundancies and duplication of roles, and by leveraging technology better"
"Around 5% of BYJU’S 50,000-strong workforce is expected to be rationalised across product, content, media, and technology teams in a phased manner,"
The company also added that its India K-10 acquisitions including Toppr, Meritnation, TutorVista, Scholar, and HashLearn, will be consolidated into a single business unit.
Whereas Aakash and Great Learning will continue to function as separate organisations.
In June, Moneycontrol reported that the edtech major was laying off 2,500 full-time and contractual employees from Toppr, WhiteHat Jr.
And its core team across sales and marketing, operations, content, and design teams.
“It can’t be tougher than this. And if this can’t break us, I can tell you nothing else will,” Byju Raveendran, founder of the eponymous $23-billion company,