Massive layoff by Byju’s Receives Backlash

Amid the news that the edtech company Byju’s allegedly laying off 2,500 employees across its group companies, the company said that the “entire exercise involves less than 500 employees across Byju’s group companies,” making the employees furious.

According to a report by Moneycontrol, the company took the steps in order to cut the costs with demand for edtech services moderating after two years of excessive growth.

However, the company released a statement stating, that it was “optimizing” its teams across group companies. 

A company spokesperson replied to the rumors, “We strongly deny the misinformation presented by Moneycontrol. To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams across our group companies. This entire exercise involves less than 500 employees from across Byju's group companies,"

Byju's, today said that less than 500 people have been laid off at Whitehat Jr and Toppr, however, the laid-off employees claim that around 1,100 staff have been dismissed at the Toppr alone. 

Toopr’s employees who were laid off said that they got a call from the company asking to resign on Monday, failing to do so all of them were terminated without any prior notice. 

A Toppr employee anonymously told PTI, “I am part of the Chemistry subject matter expert. My entire team has been laid off. Toppr has promised 1 month's salary for those who resign and no salary for those who don't. Around 1,100 people have been laid off at Toppr,"

A Whitehat Jr spokesperson said that the decision was taken based on the long-term growth of the company, and prioritize and accelerate results. 

"Byju's is also looking to integrate Toppr's operations with itself. So, for obvious reasons, other than educators, many roles will become redundant. Only about 100 employees are left at Toppr right now," the Moneycontrol added, quoting sources.

Edtech firms including, Unacademy, Vedantu, Lido, Frontrow, Lido, and many more, have cumulatively laid off thousands of people this year.

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