Byju's rolls back relocation plan for Kerala staffers after founder meets CM
2 years, 1 month ago

Byju's rolls back relocation plan for Kerala staffers after founder meets CM

India Today  

In a move that will save the jobs of 140 employees working for Byju's in Kerala, the edtech major has rolled back its decision to relocate the employees and has decided to continue its operations at the Technopark campus in Thiruvananthapuram. However, after founder Byju Raveendran's meeting with the state chief minister, the company has now reversed the decision and decided to expand operations in the state. Kerala's Labour Minister V Sivankutty said in a statement, "The Byju's office will continue at Thiruvananthapuram Technopark. On October 25, employees working at Byju's Thiruvananthapuram office approached labour minister V Sivankutty saying they have been forced to resign as part of cost-cutting measures. A statement issued by Byju's read, "Following a detailed discussion between the Hon'ble Chief Minister of Kerala, Shri P Vijayan and Byju Raveendran.we have decided to continue operations of our TVM product development centre.

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History of this topic

Byju’s fires 500 employees over telephone calls, emails
8 months, 3 weeks ago

Byju’s fires 500 employees over telephone calls, emails

New Indian Express  

BENGALURU: Amid a funding crisis and a series of legal battles, troubled edtech firm Byju’s has fired 500 employees, including teachers. An employee with Byju’s said the company has been asking online teachers to move offline and teach at the company’s tuition centres and those who couldn’t do that are now being fired. When asked about layoffs, Byju’s spokesperson said, …

Byju's gives up most office spaces in India, shifts to remote work
9 months, 1 week ago

Byju's gives up most office spaces in India, shifts to remote work

Hindustan Times  

Edtech company Byju's has left all office spaces across India and is only retaining its headquarters at IBC Knowledge Park in Bengaluru. Bjyu's work from home rule Byju's has asked all employees to work from home indefinitely, except for those working out of approximately 300 Byju's Tuition Centres, it was reported. The company has taken the decision as part of …

Will Byju’s investors fire founder Byju Raveendran from the ed-tech firm today?
10 months ago

Will Byju’s investors fire founder Byju Raveendran from the ed-tech firm today?

Firstpost  

The fate of Byju Raveendran, founder and CEO of ed-tech giant Byju’s, hangs by a thread. Will Byju Raveendran, founder and CEO of ed-tech giant Byju’s, be ousted today from the company, as it continues its freefall? However, Byju Raveendran, and the company’s other board members co-founder Divya Gokulnath and Riju Ravindran have said that they will not attend the …

Byju's crisis: Court ruling protects CEO Raveendran from ouster in upcoming shareholder EGM
10 months ago

Byju's crisis: Court ruling protects CEO Raveendran from ouster in upcoming shareholder EGM

Hindustan Times  

Edtech company Byju's CEO and founder Byju Raveendran got major relief during a Karnataka high court hearing, where the bench refused to stay the emergency meeting called by the investors. Byju's on Wednesday said that any calls taken by the investors during the emergency meeting will not be considered valid till the time the court is done with hearing their …

Byju’s woes shows failure to adjust to post-covid reality
10 months ago

Byju’s woes shows failure to adjust to post-covid reality

New Indian Express  

Troubled edtech firm Byju’s has been thrown a lifeline by disgruntled investors who have so far pledged to contribute $300 million to allow it to continue operations. The rights issue, expected to close by the end of the month, has valued the company at $200-250 million—a meltdown of about 95 percent from Byju’s peak valuation of $22 billion. Byju’s has …

From layoffs to legal hurdles: What's going on at Byju's?
1 year, 5 months ago

From layoffs to legal hurdles: What's going on at Byju's?

India Today  

Edtech giant Byju’s has seen a sharp turnaround in its fortunes since last year, and the success story of India’s most valuable start-up seems to have turned sour, even as its CEO Byju Raveendran remains optimistic about the company’s future. In a virtual town hall held on Thursday, Raveendran assured employees that the “best is yet to come” for Byju’s, …

Three board members quit Byju's, Deloitte steps down as auditor: Report
1 year, 6 months ago

Three board members quit Byju's, Deloitte steps down as auditor: Report

Hindustan Times  

Three board members of Indian startup Byju's have quit and Deloitte has stepped down as its auditor, three sources said, key departures amid the edtech company's disagreement with lenders and when an investor has slashed its valuation. Byju's founder Byju Raveendran Peak XV Partners' GV Ravishankar, Prosus' Russell Dreisenstock and Chan Zuckerberg Initiative's Vivian Wu have resigned from the board, …

Deloitte resigns as BYJU'S auditor, edtech firm ropes in BDO for audit
1 year, 6 months ago

Deloitte resigns as BYJU'S auditor, edtech firm ropes in BDO for audit

India TV News  

Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with "immediate effect" mid-term stating …

Former BYJU'S Employee, Who Worked 24x7, Asked to Resign 'Immediately' Amid Massive Layoff
1 year, 6 months ago

Former BYJU'S Employee, Who Worked 24x7, Asked to Resign 'Immediately' Amid Massive Layoff

News 18  

BYJU’s amid increased tension with lenders, has started laying off staff across departments as a cost-saving measure. With around 1,000 employees laid off across all departments as part of its restructuring process, a former employee has now come forward to share how he was asked to resign immediately, despite having given his everything to the company, reported Moneycontrol. “I lost …

Byju's lays off 1,500 employees, cites cost optimisation and outsourcing of operations
1 year, 10 months ago

Byju's lays off 1,500 employees, cites cost optimisation and outsourcing of operations

Hindustan Times  

Byju's has laid off around 1,500 employees, with those let go accounting for 15% of the company's existing workforce, according to media reports. In October last year, the edtech giant laid off 2,500 employees “Byju's has fired around 1,500 employees citing cost optimisation and outsourcing of operations. The company is planning to outsource some functions in areas such as operations, …

Byju’s fires 1,500 staff; senior execs also hit
1 year, 10 months ago

Byju’s fires 1,500 staff; senior execs also hit

Live Mint  

NEW DELHI : Tiger Global-backed Byju’s has fired about 1,500 employees, including senior executives, in the second layoff exercise by India’s most valuable startup in about four months, said four people familiar with the matter. A senior official at Byju’s and one of the four people cited above said the new round of firings were planned in October itself. The …

Edtech firm Byju’s lays off nearly 1,500 employees
1 year, 10 months ago

Edtech firm Byju’s lays off nearly 1,500 employees

Live Mint  

Edtech unicorn Byju's has laid off nearly 1,500 employees, in another round of layoffs according to media reports. Byju’s has fired around 1,500 employees citing cost optimization and outsourcing of operations, four people familiar with the matter, told Mint. Byju’s founder and chief executive officer Byju Raveendran in October had assured employees that no further layoffs beyond the planned 2,500 …

Byju's lays off 1,000 employees, fired people over WhatsApp calls
1 year, 10 months ago

Byju's lays off 1,000 employees, fired people over WhatsApp calls

India Today  

After Google, Byju's is the latest company to fire hundreds of employees. In the latest round, the company has fired 300 employees in the Engineering team and the Logistics team strength has dropped to 50 percent if we also count October’s layoff process, people familiar with the matter told MoneyControl. The impacted employees were not sent an official email as …

BYJU’S drops layoff plan for now, to retain Thiruvananthapuram operations
2 years, 1 month ago

BYJU’S drops layoff plan for now, to retain Thiruvananthapuram operations

Live Mint  

Edtech platform Byju's on 2 November decided to revoke it plan to shut its operations in Thiruvananthapuram after meeting with Kerala Chief Minister Pinarayi Vijayan. Apart from dropping the layoff plan and relocation of 140 employees at one of its offices in Kerala, Raveendran announced plans to hire 600 people in the state. The following update arrives as the firm's …

Byju's to continue operations at Kerala Technopark center, not to lay off employees
2 years, 1 month ago

Byju's to continue operations at Kerala Technopark center, not to lay off employees

The Hindu  

Edutech company Byju’s, which had earlier decided to lay off all of its employees at its centre in Technopark, Thiruvananthapuram, has decided to continue its operation at the centre after Byju Raveendran, CEO & founder of the company, held talks with Chief Minister Pinarayi Vijayan. Labour Commissioner K. Vasuki IAS also chaired a meeting with the employees, representatives of Prathidhwani, …

Kerala govt officials to meet Byju’s today over laying off employees
2 years, 1 month ago

Kerala govt officials to meet Byju’s today over laying off employees

Live Mint  

The Kerala government will meet with officials from Byju's on November 2 to discuss the ‘forced resignation’ of 170 employees. On October 25, some of Byju's employees approached Kerala Labour Commissioner K Vasuki. Byju's founder and CEO Byju Raveendran apologised to the company's employees for the layoffs at India's largest education technology company, claiming that 2,500 job cutbacks were necessary …

No forceful layoffs in Kerala, only relocation to Bengaluru, says BYJU’s
2 years, 1 month ago

No forceful layoffs in Kerala, only relocation to Bengaluru, says BYJU’s

The Hindu  

Edtech platform BYJU’s on October 28, 2022 said it won’t exit Kerala, however, as part of its `ongoing organisational restructuring for profitable growth’, it was discontinuing its operations at Technopark in Thiruvananthapuram `to reduce redundancy’. In case any employee doesn’t wish to use this option of relocation for whatever reasons, s/he gets a generous and progressive exit package including extended …

Byju’s shuts down Kerala office, forces employees to resign: Report
2 years, 1 month ago

Byju’s shuts down Kerala office, forces employees to resign: Report

Live Mint  

Edtech firm Byju's has allegedly closed down their Technopark, Thiruvananthapuram office and are forcing their employees to resign, Minister for General Education and Labour in the Kerala Government, V Sivankutty said on social media platform Facebook. On Facebook, Technopark Today, the community media platform of Technopark employees, said that Byju’s management was forcing employees to resign. Reports have suggested that …

Byju’s to fire 2,500 employees in next six months as it chalks out plan to become profitable
2 years, 2 months ago

Byju’s to fire 2,500 employees in next six months as it chalks out plan to become profitable

Firstpost  

Byju’s co-founder Divya Gokulnath told PTI that the company will start focussing on building brand awareness overseas through new partnerships and hire 10,000 teachers for India and overseas business New Delhi: Edtech major Byju’s has chalked out a plan to become profitable by March 2023 to optimise its marketing and operational cost, which will lead to retrenchment of 5 per …

Byju’s to layoff 5% employees to become profitable: 10-point cheat-sheet
2 years, 2 months ago

Byju’s to layoff 5% employees to become profitable: 10-point cheat-sheet

Live Mint  

India's ed-tech unicorn Byju’s is laying off 2,500 employees in an attempt to become profitable by March 2023. This move comes after Byju's witnessed a significant drop in its demand despite the pandemic increasing the need for online classes as nationwide lockdown had forced schools and colleges across India to shut down for a couple of months. The 5% layoff …

Byju’s looks to lay off about 2,500 employees
2 years, 2 months ago

Byju’s looks to lay off about 2,500 employees

Live Mint  

Edtech unicorn Byju’s on Wednesday said it will lay off 2,500 employees accounting for 5% of its workforce, over the next six months, as it aims to become profitable by March 2023. These measures will help us achieve profitability in the defined time frame of March 2023,” said Mrinal Mohit, chief executive of Byju’s India business. Byju’s also said it …

Tough lessons: Are Byju’s mass layoffs a sign of trouble for India's edtech sector?
2 years, 5 months ago

Tough lessons: Are Byju’s mass layoffs a sign of trouble for India's edtech sector?

Firstpost  

In a post-pandemic world, where edtech companies are struggling to survive, Byju’s has laid off at least 1,500 employees. Byju’s responds With the news of the firings becoming headlines across platforms, the edtech company, currently valued at $22 billion, issued a statement saying, it was “optimising” its teams across group companies. The company added that the “entire exercise involves less …

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