BYJU'S to lay off 5% of its workforce, eyes profitability by March

Edtech company BYJU'S has said it will be laying off about 5% of its workforce across product, content, media, and technology teams.

According to a press statement, this is in a bid to avoid redundancies and duplication of roles.

"To avoid redundancies and duplication of roles, and by leveraging technology better, around five percent of BYJU’S 50,000-strong workforce is expected to be rationalised across product, content, media, and technology teams in a phased manner," it said.

However, it does plan to be a net hirer towards the end of the financial year, with an overarching plan to hire a total of 10,000 more teachers in the coming year.

Beyond Hiring

The team is also reinventing the sales model to focus more on inside sales, using video calling platforms. This is expected to enhance customer experience and reduce operational costs. To facilitate the same, multiple inside sales hubs will be created across India. From these hubs, multiple BYJU’S sales associates will reach out to incoming leads through calls, email, and Zoom meetings. 

Mrinal Mohit Chief Executive Officer (CEO) of BYJU'S India Business added, “These moves are expected to result in sizable savings with no impact on growth and revenue run rate”.   

At a group level, the company prioritises achieving overall profitability by March 2023.  

(This story has been updated to correct an attribution)