BYJU’s laid off another 15% of its engineering team

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BYJU’s laid off another 15% of its engineering team, as the company continues to phase layoffs in order to remain growth-oriented in the global economic meltdown.

According to sources, the company has asked more than 1,000 workers (or 15% of its workforce) to leave in a new round of layoffs, primarily from its engineering teams. BYJU decided last year to lay off up to 2,500 employees, or 5% of its workforce, in order to achieve profitability by March 2023. More than 21,000 employees have been laid off by over 70 startups in India to date, including unicorns such as BYJU’S, Ola, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and more.

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BYJU’s laid off another 15% of its engineering team

BYJU’s laid off another 15% of its engineering team, as the company continues to phase layoffs in order to remain growth-oriented in the global economic meltdown.

According to sources, the company has asked more than 1,000 workers (or 15% of its workforce) to leave in a new round of layoffs, primarily from its engineering teams. BYJU decided last year to lay off up to 2,500 employees, or 5% of its workforce, in order to achieve profitability by March 2023. More than 21,000 employees have been laid off by over 70 startups in India to date, including unicorns such as BYJU’S, Ola, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and more.

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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