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Amid media reports of edtech company Byju’s laying off 2,500 employees at its group companies, an official statement issued by the company said that Byju’s is working on improving the teams of its group companies. It has also been said on behalf of the company that less than 500 employees of the company have been affected in this entire process.
It has been said on behalf of Byju that the news being spread in the media is completely misleading. A spokesperson for the company said, “To re-examine our business priorities and accelerate our long-term growth, we are striving to improve our teams across our group companies, and as of this exercise, less than 500 Employees are getting affected.
Let us tell you that Moneycontrol had told in its report that Byju Company is laying off 2500 employees from group companies for its cost cutting. A day before that, a Bloomberg report claimed that the company was delaying payments for the acquisition deals that Byju’s had finalized last year.
At the same time, a report released by PTI said that Toppr, a company of Byju Group, has laid off about 1100 employees, which is about 36 percent of the company’s manpower, before this week. This report of PTI has been written by quoting the employees fired by the company.
Toppr employees have said that they received a call from the company on Monday asking them to resign. The employees have also alleged that they have also been told that if they do not resign, they will be dismissed without any notice.
An employee of Toppr, on the condition of anonymity, said that I am part of the subject matter expert team of Chemistry in the company. My entire team has been fired. The company has said on its part that those who resign themselves will be given one month’s salary, while those who do not do so will not get anything. When tried to get in touch with Toppr co-founder Zeshan Hayat, he did not get revert.