BYJU’S to lay off approximately 2,500 employee

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BYJU’S announced that it will lay off approximately 2,500 employees, accounting for 5% of its workforce across product, content, media, and technology teams.

The edtech decacorn, which was last valued at $23 billion and is backed by Prosus Ventures, Sequoia Capital, and other prominent investors, announced in a statement that it has taken drastic steps to achieve profitability by the end of the current fiscal year (FY23). BYJU’S also announced the consolidation of its K-10 acquired businesses, including Toppr, Meritnation, TutorVista, HashLearn, and Scholar, into a single business unit. Great Learning and Aakash, on the other hand, will continue to operate independently. The edtech platform stated that it has laid off employees in order to avoid role duplication and to leverage more technology.

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BYJU’S to lay off approximately 2,500 employee

BYJU’S announced that it will lay off approximately 2,500 employees, accounting for 5% of its workforce across product, content, media, and technology teams.

The edtech decacorn, which was last valued at $23 billion and is backed by Prosus Ventures, Sequoia Capital, and other prominent investors, announced in a statement that it has taken drastic steps to achieve profitability by the end of the current fiscal year (FY23). BYJU’S also announced the consolidation of its K-10 acquired businesses, including Toppr, Meritnation, TutorVista, HashLearn, and Scholar, into a single business unit. Great Learning and Aakash, on the other hand, will continue to operate independently. The edtech platform stated that it has laid off employees in order to avoid role duplication and to leverage more technology.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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