Byju’s plans to cut 4,000 staff after CEO change
The move comes within days of the appointment of Arjun Mohan as the company’s new chief executive officer for India
Byju’s, India’s largest edtech startup, plans to fire as many as 4,000 employees in the latest round of layoffs, according to people familiar with the development.
The move comes within days of the appointment of Arjun Mohan as the company’s new chief executive officer for India.
The affected workforce will include senior executives, which will reduce the firm’s high cost of senior management-related expenses.
Mohan met with some of the senior staff on Tuesday and communicated that some of them and their teams will be impacted, though no one has been formally fired yet. The process is likely to start only later this week or early next week.
Byju’s is also reducing overlaps between its online and offline staff and its staff in its regional sales offices.
The firm named Mohan as the new India chief on 20 September. Mohan, a former upGrad executive who had previously worked at Byju’s, will be responsible for over 75% of the company’s revenues.
He was brought in a month ago, but has been working with Byju’s in an informal capacity for a while.