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Byju’s Layoff 2023: The retrenchment of employees in big companies is not taking the name of stopping. This time big news is coming out from online teaching app company Byju’s Layoff. Once again Byju’s is going to retrench its employees. Byju’s is a one of a kind online teaching app company in the market. Through this, children study online while staying at home. This company has earned a reputation as India’s most valuable startup company. Know what is the reason, due to which this company is throwing its employees out of job.
1,000 employees laid off
According to media reports, Byju’s has informed that it is laying off 1,000 of its employees. These layoffs are happening in the company’s engineering, sales, logistics, marketing and communication teams. Around 300 employees are being sacked from the engineering team. There has been a decline of up to 50 percent in the engineering team since the month of October from 2022 last year.
Not sent due to email leak
It is being told that no employee has been told about the retrenchment on the mail. Byju’s asked its employees to join a call on Google Meet on normal and WhatsApp calls and there they are being informed about the layoffs.
Decision taken due to economic instability
Company owner Byju Ravindran sent an emotional mail to 2500 employees on 31 October 2022, in which he said that due to economic instability in the company, he planned to lay off employees. Saying that a big price has to be paid to follow the path of profit. Byju Raveendran said that even asking the employees for dismissal breaks their heart. He is truly sorry for the people who have to leave the company.
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