BYJU’s Resignation: The current economic condition of Byju, which is included in the world’s largest edtech companies, is going bad. The company shows its employees the way out every few months. Recently, Byju’s CEO said that the company is laying off 2,500 employees, i.e. 5 per cent.
Global economic growth is decreasing daily, and the company’s profit is also reducing. Because of this, this deficit is being met by firing employees. So that the company can remain in profit.
Let us tell you that the company is also under pressure because many foreign banks had invested in the company, which the foreign bank is now withdrawing. For this reason, the company is preparing to bring IPO to raise money from the stock market in the coming time.
In this case, the company cannot remain at a loss. The CEO of the company gave an emotional message to the employees.
Mail From Company
The company’s CEO Byju Raveendran said many team members are getting layoffs. I feel sorry for him. He wrote an emotional message in which he said that you are not 5 per cent of the company’s employees, but you are five per cent of me. Let us tell you that about 2500 employees are being laid off in Byju’s.
Byju Kept His Word
After the news of layoffs, a statement was issued on behalf of Byju, in which it has been told that it is false that people are being forcibly fired from the company. Byju’s is a responsible company and abides by all laws.
At present, the company has given employment to about 50 thousand people. Under the special strategic plan, 5 per cent, i.e. 2500 posts, are being rationalized to maintain the profit and work ahead.
Retrenchment In Kerala
However, he has also said that no written notice of layoff has been received from the company. Last week, the HR department asked the employees to resign themselves. Employees were fired on a large scale in the Thiruvananthapuram office, after which the media covered the matter; when the pressure started on the company, some employees were given the option of transfer.
