Edtech company Byju’s is reportedly laying off employees over the phone and not providing them with a notice period before letting them go, Moneycontrol quoted sources as saying.
The report mentioned that Byju’s is using phone calls followed by emails to inform employees about their termination. The email states that their last working day with the company will be March 31, 2024, and their full settlement will be as per the exit policy. Employees are asked to return company assets and proprietary information for processing their final settlement and are directed to contact separations@byjus.com for any queries regarding the exit process.
“This is to confirm that your last working day with Think and Learn Pvt Ltd [the company that owns Byju’s] will be March 31, 2024. Your full and final settlement will be done as per the exit policy. Please hand over all the assets and proprietary information of the company that are in your possession to enable processing your full and final settlement. In case of any queries on exit formalities, please contact separations@byjus.com,” the emails sent to employees read.
According to the report, the layoffs at Byju’s are expected to affect between 100 to 500 employees, with the sales division facing the most significant impact. In the past two years, Byju’s has already let go of over 10,000 employees due to financial issues and legal conflicts with investors and stakeholders. Presently, the company’s Indian branch employs approximately 14,000 people.
A Byju’s spokesperson told Moneycontrol, “We are in the final stages of a business restructuring exercise announced in October 2023 to simplify operating structures, reduce the cost base, and improve cash flow management.”
“We are going through an extraordinary situation in the company because of the ongoing litigation, where every employee and the ecosystem itself are going through tremendous stress given the present circumstances,” said the spokesperson.
