BYJU’s Layoffs: Byju fired 1000 employees, equal to two percent of the company’s total workforce.

Education-technology company Byju’s has laid off around 1,000 employees as part of its restructuring process. Sources said on Monday that the retrenched employees belong to different departments. However, with the addition of new employees, the company’s total employee strength remains around 50,000.

According to the report, the fresh layoffs are around two per cent of the company’s total workforce. The new round of layoffs in the company has started in the midst of a legal dispute in the US court over debt payment of one billion dollars. Byju’s had earlier said that it would lay off around 2,500 employees in the next six months from October 2022.

About 1,500 employees were laid off in February

In February this year, Byju’s laid off around 1,500 employees. This mainly consisted of employees from the design, engineering and production verticals. Whereas in October last year, Byju had laid off around 2,500 employees, which was five per cent of the company’s workforce.

Byju’s founder and CEO Byju Raveendran had assured employees in October last year that there would be no layoffs beyond the planned 2,500 employees. Sources had then told that the company was planning to outsource some functions in the areas of operations, logistics, customer care, engineering, sales, marketing and communications and others.