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Byju’s to dismiss 4,000 employees post CEO switch
Mumbai: One of India’s largest ed-tech startups, Byju’s, plans to give pink slips to about 4,000 employees, suggest media reports. This decision comes in light of the appointment of Arjun Mohan as the company’s new CEO for India.
As per this round of layoffs, senior executives will be under the radar; the firm is looking at cutting high expenses related to senior management.
Media reports bring out that there is a concern at Byju’s with regard to the cash flow, and this step will help resolve the same by the end of October.
Byju’s also plans to reduce the overlays between its online and offline staff and its staff in its regional sales offices. Instead of 19 regional offices, the company will now have offices only at four or five locations.
Mohan was roped in as the new India chief on 20 September. He is a former upGrad executive who had previously worked at Byju’s, and will be responsible for over 75 per cent of the company’s revenues. Though he joined Byju’s a month ago, he has been working with them in an informal capacity for a while.
Byju’s parent company Think & Learn Pvt. Ltd, excluding the subsidiaries, had over 19,000 employees, including contract staff, at the end of August. Post layoffs, this is expected to be reduced to 15,000.
