Kerala govt officials to meet Byju’s over laying off employees
By MYBRANDBOOK
The Kerala government will meet with officials from Byju's on November 2 to discuss the ‘forced resignation’ of 170 employees. The Kerala labour department officials had previously scheduled a meeting for October 25. However, Byju's chose not to take part, citing short notice. The company is laying off 2,500 employees or 5% of the staff strength.
On October 25, some of Byju's employees approached Kerala Labour Commissioner K Vasuki. They asserted that a verbal request for a forced resignation had been made by the company. According to media sources, Byju's addressed the staff and offered them relocation to either Kochi or Bengaluru in order to reduce expenses and restructure for profitable growth.
Byju's founder and CEO Byju Raveendran apologised to the company's employees for the layoffs at India's largest education technology company, claiming that 2,500 job cutbacks were necessary to eliminate role duplication and reduce redundancies.
Raveendran claimed in a statement to staff members that, due to unfavourable macroeconomic variables, Byju's had been forced to concentrate on sustainability and capital-efficient growth. He said that the layoffs broke his heart. In defending the decision, Raveendran said that Byju's had rapidly and significantly expanded globally during the previous four years, including through acquisitions.
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