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India’s ed-tech unicorn Byju’s is laying off 2,500 employees in an attempt to become profitable by March 2023. The layoff would be 5% of Byju’s total workforce which is around 50,000 employees. The company plans to reduce its workforce over the next six months which is expected to support the company in reducing its cost and further help in achieving better unit economics. This move comes after Byju’s witnessed a significant drop in its demand despite the pandemic increasing the need for online classes as nationwide lockdown had forced schools and colleges across India to shut down for a couple of months. In September, Byju’s valuation stood at $22 billion.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
