Byjus layoff amidst legal dispute with American investor Byjus
Edtech company Byjus Layoff has once again retrenched and fired about 1000 employees from the company. According to media reports, the company has shown the way out to the employees of different departments.
With this new round of layoffs, the number of employees recently fired by the company has increased to around 3,500. Even before this, Byjus had thrown some employees out of the company.
The fresh layoffs at Byjus comes at a time when the company is fighting a legal battle. The company is in dispute with an American investor over a term loan of US$ 1 billion.
The company will pay two months’ salary to the fired employees.
According to sources, this fresh retrenchment was done by the company with the aim of improving the financial condition and reaching the path of profitability. However, the company will pay two months’ salary to the fired employees.
Let us tell you that in the year 2022, Byjus had said that under the “optimization” strategy, the total workforce of the company
