The Moneycontrol report revealed that employees working in engineering, sales, marketing and logistics departments are heavily affected by the latest decision. According to this, 300 employees of the engineering department are being laid off. Also, after the layoffs in October last year, Byjus is laying off 50 percent of the employees in the logistics department. It is reported that this edtech company is making efforts towards outsourcing logistics to reduce costs. The report states that the job layoffs have taken place due to this. As of last year’s October layoffs, Byzoo’s companies had 50,000 employees.
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Baiju Ravindran, founder of Baiju’s, made a key announcement after the October layoffs. He said that there will be no more job cuts after 5 percent of the employees were fired. However, it is noteworthy that another 1500 people were fired within three months. On the other hand, Byjus CEO Mrinal Mohit announced last October that investors and shareholders will be given high priority and the aim is to achieve stable growth along with strong revenue growth. He expressed hope that these measures will be useful to make the companies profitable by March 2023.
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