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Unicorn is losing its horn? https://t.co/mQ8CPBIm4V
— परितोष पप्पू #DontLetHateWin (@paritoshZero) October 27, 2022
This report by @MorningContext says @BYJUS could lay off 12,000 employees, far higher than 2,500 indicated by company earlier this month.
— Ritu Singh (@_ritusingh) October 27, 2022
If this is true, it’ll be one of the largest such layoffs by a startup. https://t.co/zzcPPtnIlH
“The sales team will be the biggest hit.”
— The Morning Context (@MorningContext) October 27, 2022
Byju’s is planning to lay off about 12,000 people, nearly 25% of its total workforce, over the next year. The company is also shutting down its IBC Knowledge Park office in southern Bengaluru.
✍️ @sahaprdhttps://t.co/J92pfyqGkE
Company acquires another company to take a loan from the acquired company. https://t.co/dpNlUireLY
— Manish (@manish_shett_) October 27, 2022
Byju's will be laying off 12,000 people, 25% of its workforce. Biggest cuts will be in the sales team as it cuts costs, moves to remote sales.
— Ashish K. Mishra (@akm1410) October 27, 2022
Byju's continues to take any cash it can find. It has taken Rs 300 cr loan from Aakash. Imp story by @sahaprd https://t.co/KGdSie9IVc
The layoffs are symptomatic of an industry that is shrinking as rapidly as it expanded.
— Shivani Verma (@verma_shivani12) October 27, 2022
Writes @sahaprd in today's longread @MorningContext
https://t.co/lNlTNTzwlx
“I am not surprised at all by the number of layoffs. When a company does PR around 2,500 layoffs, the real numbers are bound to be a multiple of that.”https://t.co/J92pfyqGkE
— The Morning Context (@MorningContext) October 27, 2022
The @MorningContext story (paywalled) claims five sources. But if true even in part, it would be a stunning reversal for an #edtech company — $22B India-based Byju's — that may have taken advantage of pandemic trends and easy funding to grow far faster than ongoing market demand. https://t.co/4SfXSSvCC8
— Frank Catalano (@FrankCatalano) October 29, 2022
Byju’s which has given the pink slip its 170 employees in Thiruvananthapuram, now says it plans expand operations in #Kerala. @BYJUS @MSKiranPrakash @PaulCithara https://t.co/we3DSwyebx via @NewIndianXpress
— TNIE Kerala (@xpresskerala) October 29, 2022
I just wonder if someone would hold @BYJUS and it's founders accountable for this near massacre. Great story by @sahaprdhttps://t.co/dNRtG7JDcY
— Furquan Moharkan (@imFmoharkan) October 27, 2022
The salespeople who were fired are going to spill the beans about the rampant mis-selling at #Byju's https://t.co/TxnGHtHLnK
— Dr Aniruddha Malpani, MD (@malpani) October 27, 2022
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’.https://t.co/O9EJvoSIje
— The Hindu Business (@thehindubiz) October 28, 2022
🚨🚨#SCOOP “Achieve targets or quit”: #BYJUS new sales policy triggers discontent amongst employees Pan India . The edtech giant is shutting down offices across 60 cities in India @Inc42 #BigBreak https://t.co/pI7RZPGQSu
— Bismah Malik (@bismahmalik) October 28, 2022
Break for @Inc42 : #Byjus has shut down its offices across 60 cities after the new sales policy came into effect this month. This could likely impact thousands of sales executives . Story linkhttps://t.co/pI7RZPGQSu https://t.co/iXarWrPJlk
— Bismah Malik (@bismahmalik) October 29, 2022
Byju's had acquired Aakash Educational Services for a cash and stock deal of almost $950 million in April 2021. https://t.co/NoXq1FBVm7
— Mint (@livemint) October 27, 2022