Mumbai, April 2: BYJU's layoffs were expected to be announced as the company had already been going through financial crisis for months. Last month, BYJU's shut down all its offices due to restructuring plan by CEO Arjun Mohan, delayed employees' salary for March and might be paid on April 8, 2024. As per new reports, BYJU's started laying off people without notice due to its financial crisis. The layoffs at BYJU's have reportedly been initiated via phone calls. The edtech company already conducted several layoffs in last two years amid the slow demand and other problems.

According to a report by News18, the BYJU's layoffs in 2024 would reduce the number of employees from 100 to 500. The report said that the edtech firm had already laid off 10,000 employees since 2022 amid dwindling funds and legal issues with investors and other stakeholders. There were reportedly 14,000 BYJU employees on the payroll in India. Paytm Layoffs or Appraisal Process? Paytm's Parent Company One97 Communications Dismisses Job Cut Rumours After Report Claims It Asked Employees to Resign.

The report said an employee, Rahul, received a call on March 31 from BYJU's human resource department and was informed about his termination. The HR reportedly informed Rahul that his last day was that day and initiated the exit process immediately. Rahul tried recording the conversation on the phone, and HR argued about it. Further, the HR executive cut the call and blocked Rahul's number. As per another report by Moneycontrol, Rahul inquired about the reason for laying him off; HR said it was due to BYJU's poor financial condition.  

The Human Resources Executive at BYJU also informed that top management shared the list of employees to be terminated. Just like Rahul, the report said that other employees were informed about their termination over phone calls. It said that the tech firm let go the employees without putting them on PIP (Performance Improvement Plan) or allowing them to serve notice periods. Byju’s Delays March Salary As Funds Remain Stuck, Likely To Pay by April 8.

News18 further reported that BYJU's layoffs were initiated via phone calls; however, the employees were also sent emails. The email from BYJU's HR Compliance department confirmed the termination of employees like Rahul, with their last day to be March 31, 2024, at Think and Learn Pvt Ltd (BYJU's) company. Neha, Deepak, Aditya, and others shared similar instances about the layoffs with Moneycontrol. 

(The above story first appeared on LatestLY on Apr 02, 2024 02:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).