BYJU’S new CEO Arjun Mohan plans 5,000 workforce cut in restructuring drive
BYJU'S said it is in the final stages of a business restructuring exercise to simplify operating structures, reduce the cost base, and improve cash flow management.
new chief executive officer (CEO) Arjun Mohan is reportedly planning a workforce reduction of over 5,000 permanent and contractual employees in a restructuring effort aimed at cost control.
Mohan, who took charge of BYJU’S India business last week, is set to merge various business verticals in a rollout expected later this week or early next week, The Economic Times reported.
The job cuts are at BYJU’S parent firm, Think & Learn Pvt Ltd, and do not extend to its subsidiaries, with a notable portion affecting senior positions, the report added.
A BYJU’S spokesperson, in a statement shared with YourStory, confirmed an impending restructuring but did not disclose the extent of its impact on employees.
“We are in the final stages of a business restructuring exercise to simplify operating structures, reduce the cost base and better cash flow management. BYJU’S new India CEO, Arjun Mohan, will be completing this process in the next few weeks and will steer a revamped and sustainable operation ahead,” the spokesperson noted.
Mohan, who was a part of the founding team, last served as the Chief Business Officer and re-joined the edtech company in July. He served as upGrad’s CEO while away from BYJU’S.
During the past month, several senior executives left BYJU’S, including, Cherian Thomas, Senior Vice President for international business; Pratyusha Agarwal, Chief Business Officer; Himanshu Bajaj, Business Head of Tuition Centre; Mukut Deepak, Business Head of Classes 4-10 Online and Home Tuitions; and Ananya Tripathi, CEO of BYJU’S-owned WhiteHat Jr.
BYJU'S has been streamlining its workforce globally and domestically as it works towards profitability. In the past year, it has implemented multiple rounds of layoffs as a strategic cost-cutting measure.
Edited by Kanishk Singh