Sunday, January 29, 2023
Outlook India
Outlook Business

Byju Raveendran

Last year, the company launched 300 physical centres and planned a $210 million investment

The development comes against the backdrop of summons issued to the company by child rights body National Commission for Protection of Child Rights (NCPCR) over allegations that the edtech firm is indulging in malpractices to lure parents and children to buy...

As per reports, the edtech's founder is seeking funds to finance his buyback plans

The company will begin a new "affordability checks" service before selling education policies or providing loans

Defending itself on the allegation of mis-selling, Byju's said it does not encourage, order or incentivise its sales staff and managers to pursue customers who are uninterested in or unable to pay for its products

On Friday, NCPCR summoned Byju Raveendran, the CEO, over the allegations of malpractices conducted by the sales team.

While many CEOs who went on a guilt trip after announcing retrenchments assured assistance to their sacked employees, it remains questionable how serious are they about keeping their promise

The edtech unicorn has plans to lay off around 2500 employees in the coming months

In October, the edtech decacorn announced rationalising its workforce, which effectively meant terminating the services of 2,500 employees from its 50,000-strong team

A few days back, BYJU's terminated the contracts of nearly 2500 employees