Byju’s Announces Major Layoffs:

In Short: 

• Byju’s Job Cuts: About 500 employees are being let go. 
• No Notice Period: Workers aren’t getting the chance to work through a notice period. 
• Tuition Centre Impact: 240 of those losing jobs worked at Byju’s Tuition Centers. 

Big Job Cuts at Byju’s 

Byju’s, a big company that helps people learn online, is saying goodbye to about 500 of its workers. This is happening because the company is trying to save money and fix its financial problems. 

No Notice for Workers 

The people losing their jobs found out through phone calls, and they won’t get to work for a notice period. Usually, companies let workers stay for a little while even after telling them they’ll lose their jobs, but not this time. 

Many From Tuition Centers Affected 

Out of the 500 people, 240 worked in places where Byju’s teaches students in person, like tuition centers. The rest were from different parts of Byju’s, including areas that focus on teaching younger students and helping with exam prep. 

Why the Layoffs Happened 

A boss at Byju’s told the news that the company doesn’t have enough money right now. They had to pick which workers to keep and which to let go based on who was doing the least work over eight weeks. These workers didn’t get a warning or a chance to improve; they were just told they had to leave. 

Byju’s Trying to Fix Things 

Byju’s said these job cuts are part of their big plan to make the company work better, spend less money, and manage their money smarter. They announced this plan back in October 2023 but didn’t say exactly how many people would be affected. 

Trouble with Paying Workers 

This bad news follows reports that Byju’s workers were told their paychecks would be late. This delay was because the people who invested money in Byju’s couldn’t agree on some things, making it hard for Byju’s to use the money it had planned to for paying its workers. 

Byju’s is working through a tough time, trying to fix its money problems and keep the business running well. 

For more news like this visit NOTIFIRE. Get all the Latest News, Tech News, Education News, Business News, and Sports News. For Entertainment News, Automobile News, and Web Story visit Notifire.in