EducationIN

Byju's Layoffs

February 2023

Byju's announced a layoff affecting 1,500 employees in February 2023. The company operates in the Education sector.

People Affected

1,500

Announced Date

Feb 2, 2023

About

In February 2023, the Indian edtech giant Byju's conducted another significant round of layoffs, letting go of nearly 1,500 employees. This follows a previous round in October 2022 that affected about 2,500 staff. The layoffs primarily impacted the design, engineering, and production teams, with the company citing cost optimization and plans to outsource various functions, including operations and customer care. This move occurs amidst a broader funding crunch in the startup ecosystem and Byju's own substantial financial losses, as the unicorn seeks a path to profitability. The process was reportedly abrupt, with affected employees receiving in-person notices.