BYJU's phased layoffs: 1,000 plus asked to leave in latest
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New Delhi: To deal with the brewing global economic crisis, edtech firm BYJU's laid off another 15 per cent of its workforce- mostly from engineering teams- the latest among the companies phased layoffs, IANS reported.
Sources informed that the fresh layoffs asked thousand plus employees, mostly from engineering teams, to leave.
BYJU's wasn't ready to give immediate comments to IANS's queries.
Last year, the firm decided to lay off as many as 2,500 employees or 5 per cent of its workforce, in order to achieve profitability by March 2023.
In India, more than 21,000 employees have been laid off by more than 70 startups to date, including from unicorns like BYJU'S, Ola, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more.
The Edtech sector made most of the laying off of employees after 16 edtech startups cut down more than 8,000 employees so far.