Byju Raveendran Emails All Employees: “What Others See As Lay-Off, I See As Time Off”
- On Monday, BYJU’s CEO Byju Raveendran emailed over 50,000 workers to explain the 2500 layoffs at the world’s most valuable ed-tech startup.
- In four years, the firm reached over 150 million learners worldwide, according to Byju.
- Byju recognised that the company’s fast organic and inorganic expansion has produced inefficiencies, redundancies, and duplication that must be rationalised to be profitable by fiscal year’s end.
- “I realize that there is a huge price to pay for walking on this path to profitability. We are having to part ways with 2500 of our colleagues to avoid role duplication across our businesses. We have always taken pride in taking care of our employees and retaining them forever. So, it is with a heavy heart that we have had to take this difficult decision. Some business decisions have to be taken to protect the health of the larger organization and pay heed to the constraints imposed by external macroeconomic conditions,,” Byju wrote.