BYJU’s Aakash Edtech Firm Shuts Digital Classroom Program After Laying Off Hundreds of Employees: Report
BYJU's-owned Aakash shut down its Digital Classroom Program, laying off hundreds of employees, including 200 between August and September, as part of its Aakash 2.0 restructuring strategy.
Mumbai, October 15: BYJU's-owned edtech firm Aakash laid off hundreds of employees as the unit decided for a strategic shift and planned to create new roles. The Aakash layoffs were reported in September when the embattled BYJU's digital classroom program. The company has reportedly shut down BYJU's Aakash Educational Services Ltd. company.
Deccan Herald reported that the Aakash digital classroom program was shut down by the edtech major BYJU's, and over 750 employees joined the AD-CRP (Aakash Digital Classroom Program) team. Aakash layoffs this year affected hundreds of jobs as part of the Aakash 2.0 strategy. It said that the edtech company had implemented the job cuts in the past two months. Wipro New Hybrid Work Policy Announced; Must Work From Office for 3 Days, HR Tells Employees.
According to a previous report, Aakash layoffs affected 80 to 100 employees from mid- and senior-level positions. A spokesperson said that under the Aakash 2.0 strategy, the edtech company would create new roles and consolidate its existing positions. The Aakash Digital Classroom Program was part of BYJU's system, which suffered layoffs.
The report mentioned that the AD-CRP team was now integrated with the company's sales system and had new responsibilities to sell all the company offerings to customers, including Aakash Digital. The Aakash spokesperson reportedly said the team was expanded to support its 200-centre expansion.
The report highlighted that BYJU' s partially owned company laid off around 200 employees between August and September this year, including layoffs and resignations. As per available vacancies, the team was moved to Aakash's call centres or offline branches, said the report. Some accepted lower salaries compared to BYJU's and continued their work. Intel Layoffs: Chipmaker To Let Go Hundreds of Employees in Israel by Last Week of October 2024 as Part of Its USD 10 Billion Cost Reduction Plan.
The spokesperson said that all the employees were laid off by Aakash irrespective of their performance. The reason given for this action was that roles were no longer required in Aakash. BYJU acquired Aakash for USD 940 million in April 2021. BYJU's parent company, Think and Learn, withdrew its merger position during a 'National Company Law Tribunal,' said the report.
(The above story first appeared on LatestLY on Oct 15, 2024 12:14 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).