Byju's axes over 1,000 workers in fresh round of layoffs

Edtech giant Byju’s has fired over 1,000 employees or around 15 percent of its workforce in the engineering department in a fresh round of layoffs. Most of the casualties were among employees in its engineering teams, sources were quoted as saying. The company declined to comment when the media reached out. 

Byju’s laid off as many as 2,500 employees (around 5 percent of its workforce) last year in a bid to achieve profitability by March 2023. The latest firing spree is also in the same big to remain profitable amid volatility. 

Over 70 startups including Byju’s Ola, Unacademy, Cars24, Vedantu, Oyo, Udaan, Meesho and MPL have laid off over 21,000 people in India. The Edtech sector has seen the most layoffs to date with 16 companies firing a total of 8,000 workers.

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(Inputs from IANS)