While the exact details of which positions or departments will be impacted have not been disclosed, it is clear that the restructuring will be extensive
In a significant move within the Edtech industry, Byju’s, one of India’s leading online learning platforms, is set to undergo a substantial workforce restructuring under its new India CEO, Arjun Mohan. This restructuring plan entails the elimination of over 4,500 jobs, marking a substantial shift in the company’s operations and strategy.
The decision to implement such a large-scale job cut comes swiftly after the appointment of Arjun Mohan as the Chief Executive Officer for Byju’s India. Mohan, who took over the reins of the company, has wasted no time in initiating a comprehensive restructuring exercise aimed at streamlining operations, reducing costs, and ensuring the sustainability of the organisation.
The workforce reduction is substantial, with more than 4,500 employees expected to be affected by this restructuring. While the exact details of which positions or departments will be impacted have not been disclosed, it is clear that the restructuring will be extensive. Byju’s has cited the need for cost reduction and operational optimisation as the primary reasons behind this significant decision.
A report states that Byju’s currently maintains a workforce of more than 35,000 employees, a significant reduction from the peak of around 52,000 observed in 2021. This downsizing initiative has been an ongoing process for over a year as the company grapples with various financial challenges. Plus, the layoffs are exclusively planned for Byju’s operations in India and its affiliated entities such as Aakash, while international branches remain unaffected, at least in the immediate term.
The proposed job cuts at Think & Learn, the parent company of Byju’s, will affect both permanent and contractual employees. Importantly, these layoffs are independent of its subsidiaries, as confirmed by ET. Furthermore, a substantial number of senior positions within the organisation are expected to become redundant as part of this restructuring effort.
Also read: Arjun Mohan assumes the role of Byju’s new CEO
