The layoff saga in the highly-valued Indian edtech sector, Byju’s continues in the new year also. Multiple media sources reported that the company terminated nearly 1000 employees as cost-cutting measures.

People, who are aware of the development told Moneycontrol that the impacted employees belonged to the engineering, logistics, marketing and communications teams. Nearly 300 employees were fired from the engineering team. 

Sources said that the employees were not informed about their possible fate. They were asked to join a Google meeting, where the company told them about the layoffs. 

"There's very little meat inside the company... it's running on investor money basically, and the discussion internally is 'what happens once investors stop seeing any return potential (in the company)'," some of the employees told YourStory. 

The company has not made any official announcement on the layoffs till now. 

Last year, Byju’s announced its plan to rationalise five per cent of its 50,000-strong employee money to keep the business on the profitability track. The prospective move suggested that nearly 2,500 staff would lose their jobs due to the economic downturn. 

After that decision, Byju Raveendran, the founder and CEO, at that time told the employees in multiple emails that the company would not trim down any new staff. 

Since 2022, Byju’s has been a subject of a lot of controversies. The National Commission for Protection of Child Rights (NCPCR) summoned Raveendran for the alleged misconduct done by the company's sales team. Citing a sales report, which carried the experiences of the deceived customers, the body stated, "As the Commission has come across a news article wherein it has been pointed out that the sales team of BYJU'S is indulging in malpractices to lure parents to buy their courses for their children. lt has also been mentioned in the news report that some customers have also claimed that they were exploited and deceived, and had put their savings and futures in jeopardy."