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Articles by Byju's layoffs
Employees Accuse Byju's of Not Paying TDS Since Last Year
Edtech firm Byju’s has allegedly failed to remit the Tax Deducted at Source (TDS) to the government despite employees payslips indicating tax deductions. This has been happening as early as July last year. Byju’s, once hailed as India’s most-valued startup, is going through a tumultuous time since 2022 as they failed to comply with accounting regulations, alleged mis-selling of courses, and massive job layoffs.
Byju's Announces Layoffs, Dismisses 500 Employees
Byju’s, the prominent edtech company, has faced yet another setback as reports emerge of the dismissal of approximately 500 employees, primarily in sales and marketing roles across various divisions. This move follows recent challenges in meeting payroll obligations due to funding shortages, indicating ongoing financial difficulties for the company. Sources familiar with the matter revealed that Byju’s has resorted to laying off employees over the phone, with little to no prior notice.
Byju's Initiates Layoffs, 500 Employees Affected Amid Financial Woes Says Report
Amidst financial challenges, edtech giant Byju’s has initiated layoffs affecting approximately 500 employees, primarily from sales functions, sources revealed. The layoff process commenced about 15-20 days ago, with the company undergoing a business restructuring to streamline operations amidst ongoing legal disputes. Sources indicated that the embattled edtech firm might not necessitate further rationalization beyond this round of layoffs, except in extreme scenarios.
Byju's initiates layoffs, releases staff without notice via calls
Byju’s, an edtech company, commenced layoffs via phone calls, bypassing performance improvement plans (PIP), as reported by Moneycontrol. Employees are reportedly not required to serve a notice period. Byju’s latest layoffs, as per the report, might affect 100 to 500 employees, primarily impacting the sales department within the company. Over the past two years, Byju’s has laid off more than 10,000 employees due to financial constraints and legal disputes with investors.
Crucial Byju’s Board Meeting Looms: What it Means for Employees Amid Layoffs
A Momentous Period for Byju’s and Its Workforce Employees at Byju’s, one of the leading players in the education technology sector, find themselves at a significant crossroads as the company prepares for a high-stakes board meeting scheduled for the second week of October 2023. The gathering aims to approve and adopt financial results for the fiscal year 2021-22, which have been noticeably delayed.
BYJU'S Board To Meet In Oct Second Week For FY22 Financial Results
"Think and Learn Pvt Ltd (which operates with BYJU's brand name) today has issued a notice for convening a board meeting in the second week of Oct '2023 for approval and adoption of accounts for FY22. The Board of Directors along with the Advisory Council and certain invitees will meet to formally adopt the audited accounts," the company said in a statement. Deloitte had resigned as auditors of the company in June citing a delay in submission of financial statements.
Byju's Appoints Ex-UpGrad Chief Arjun Mohan As CEO For International Business
Edtech major Byju's has appointed upGrad's former chief Arjun Mohan as its CEO for international business, according to sources. Byju Raveendran will remain the group Chief Executive Officer (CEO) and Mrinal Mohit will continue to head the India business, the sources told PTI. Byju's declined to comment on the development. Mohan was with Byju's for 11 years as its Chief Business Officer before joining Ronnie Screwvala-promoted upGrad as its India CEO. He resigned from upGrad in December last year.
'Best of Byju's is yet to come': CEO Raveendran reassures employees and investors
Edtech major Byju's is growing slowly but sustainably and is close to achieving profitability at the group level, the company's CEO Byju Raveendran said on Thursday. The company organised a town hall with Raveendran to allay apprehensions about the uncertainty around the company's growth and its future.
Byju’s Clears PF Dues After EPFO Probe Into Delayed Payments: Report
Byju’s has cleared over 97 per cent of its provident fund (PF) dues after the Employees Provident Fund Organisation (EPFO) probed the company over delays in PF payments, as per a report by Moneycontrol. Byju’s said that the company has deposited PF dues for the period between August 2022 and May 2023 worth Rs 123.1 crore, they clarified it email sent to the EPFO on June 27, as per reports. The company also stated that it will be remitting the balance Rs 3.43 crore within the next two days.
Byju’s Under Government Scrutiny After Deloitte Resigns
The Ministry of Corporate Affairs is reviewing the nature of enforcement action it needs to take after the resignation of three board members and Deloitte Haskins & Sells Llp as the auditor of Byju’s parent company Think and Learn Pvt Ltd, according to a report by LiveMint. The Ministry has sought more information about the embattled edtech firm and a final decision about whether to open a formal investigation is expected soon.
Byju’s Employees Concerned About Future Amid Turmoil At Edtech Firm
Latest troubles at Byju’s, the world’s most-valued edtech startup, have raised concerns among employees about the uncertainty of their jobs and the company’s ability to sustain operations after several rounds of job cuts. Around a dozen employees of the company said they saw colleagues pack up boxes and leave throughout the week, as Byju’s laid-off another 500-1000 jobs across departments, reported Economic Times.
BYJU'S starts another round of layoffs, 500-1000 people impacted
Edtech firm Byju’s has announced another round of layoffs. It will fire 500-1000 employees to cut costs. The fresh set of layoffs is expected to impact employees across marketing, sales, business development as well as product and technology functions. To cut costs, the company had laid off over 2,500 employees across departments, in October last year. At the time it had merged four acquired companies, including Toppr, Meritnation, TutorVista, Scholar, and HashLearn.
Byju's initiates layoffs, to affect up to 1,000 staff
5 minutes ago timesofindia.indiatimes.com India Business News: NEW DELHI: Troubled edtech startup Byju's, which is currently engaged in a tussle with its term loan lenders, has initiated a fresh round of layoffs, . NEW DELHI: Troubled edtech startup Byju's, which is currently engaged in a tussle with its term loan lenders , has initiated a fresh round of layoffs , which will impact about 500-1,000 full time employees across departments, sources said. Byju's declined to comment.
BYJU'S started layoffs! fired 1,000 employees - News Concerns
Alec Collerton praises low-traffic neighbourhoods, citing his local example in Newcastle upon Tyne (Letters, 15 June). We live in the same area as him, but our road is one of the few not bollarded, and hence is now used extensively as a rat run by drivers previously using other roads. The result is a huge increase in traffic, and thus in pollution, danger and disturbance. Some (mainly richer, more privileged) residents gain; others lose greatly.
BYJU's lays off close to 1,000 employees across all departments
Follow us on Edtech major BYJU's has laid off close to 1,000 employees across departments as part of its restructuring process, sources aware of the development said on Monday. The fresh round of firing comes at a time when the company has entered into a legal battle with lenders in the US for USD 1 billion term loan B. "BYJU's has laid off close to 1,000 employees.
Byju’s To Layoff 1,000 More Employees Amid Tension With Lenders
Byju’s, the Indian ed-tech startup, has started its second round of layoffs, sacking employees from various departments. The layoffs come when the tech startup faces tension with lenders of its $1.2 billion term loan. According to a report by Moneycontrol, the HR team at the Byju’s held individual discussions with employees and in-person meetings to communicate about their job cuts. Some staff members were told about the layoffs beginning on 14 June.
India tops world ranking in digital payments, records 89.5 million transactions in 2022 MyGovIndia data
Follow us on Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
Vistara faces shortage of cabin crew uniforms; attendants to be seen in new dress | Here is why
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an “unforeseen issue” with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible. For the time being, the airline has made arrangements for the interim period for an alternative uniform which will be provided to its cabin crew.
Xiaomi again lands in trouble! ED show-cause notice to CFO, ex-MD Manu Jain for violation of Rs 5,551 crore
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three banks for FEMA violation of Rs 5,551 crore on Friday.
With new policy framework in place, logistics major hopes to drive topline growth
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
SBI board approves raising Rs 50,000 crore through debt instruments
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds. The decision in this regard was taken by the central board of the bank, the country's largest lender said in a stock exchange filing.
High carb & fat food 'silently' driving fatty liver disease in India, claims experts
While alcohol is known to damage the liver, less activity coupled with high intake of carb and fat food is silently driving an epidemic of nonalcoholic fatty liver disease in India, said experts on the occasion of International NASH Day on Thursday. Fatty liver disease of two types: If there is fat, but no damage to the liver, the disease is called nonalcoholic fatty liver disease (NAFLD).
New Medical Colleges in India: Government to open 50 colleges in various states this year, details here
New Medical Colleges in India: There is good news for NEET aspirants. Now, 50 new medical colleges are going to be opened in the country. The Union Health Ministry has given its approval. Along with this, the number ofmedical college seats in the country has also increased. According to the reports, more than 1 lakh 7 thousand seats are to be filled this year.
Bhojpuri singer arrested for raping minor, posting her pictures on social media
Follow us on A Bhojpuri singer was arrested on Thursday for allegedly raping and posting objectionable pictures of a minor girl on social media, said police. The accused is identified as Abhishek (21), a native of Bihar who is also known as Bhojpuri Singer Babul Bihari. He has more than 27,000 followers on his YouTube channel. According to police, the accused lured a 13-year-old when he lived in the Rajiv Nagar area two-year-ago.
Byju's layoffs: Edtech giant mulls another round of job cuts, likely to fire 1,000 employees, says report
Follow us on Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB).
VIDEO: Asaduddin Owaisi lashes out at BJP and RSS over Love Jihad
Asaduddin Owaisi lashes out at BJP and RSS over Love Jihad Asaduddin Owaisi lashes out at BJP and RSS over Love Jihad Asaduddin Owaisi lashes out at BJP and RSS over Love Jihad
Byju’s to lay off more staff in fresh cost-cutting drive - ETCFO
The cost correction comes right on the heels of the company skipping a quarterly interest payment of about $40 million earlier this week on a $1.2 billion term loan B (TLB), which is the subject of litigation. Edtech startup Byju’s is expected to let go of more staffers as it embarks on another cost-cutting exercise to streamline operations further, people in the know said.
Layoffs 2023: આ છટણી ક્યારે અટકશે! આ એડટેક કંપનીએ તેના 30% કર્મચારીઓને કાઢી મૂક્યા, જાણો કારણ
UpGrad Layoffs 2023: વિશ્વવ્યાપી મંદીને કારણે, ઘણી મોટી અને સ્ટાર્ટઅપ કંપનીઓ તેમના કર્મચારીઓને છટણી કરી રહી છે. આ પ્રક્રિયા વર્ષ 2022 માં શરૂ થઈ હતી અને અત્યાર સુધી ચાલુ છે. હવે મોટી એડટેક કંપની UpGrad એ તેની સહાયક કંપનીના 30 ટકા કર્મચારીઓને છૂટા કરી દીધા છે. આવી સ્થિતિમાં કુલ 120 કર્મચારીઓને બરતરફ કરવામાં આવ્યા છે. 120 કર્મચારીઓને છૂટા કર્યા યુનિકોર્ન કંપની અપગ્રેડએ વર્ષ 2022માં હડપ્પા એજ્યુકેશન નામની કંપનીને રૂ. 300 કરોડમાં હસ્તગત કરી હતી.
Byju Laysoff: બાયજુમાં ફરી એક વખત શરૂ થઈ છટણી, 1000 કર્મચારીઓને કાઢી મૂકવામાં આવ્યા
Byju Laysoff: મોટી કંપનીઓમાં કર્મચારીઓની છટણી અટકવાનું નામ નથી લઈ રહી. આ વખતે ઓનલાઈન ટીચિંગ એપ કંપની Byju's Layoff તરફથી મોટા સમાચાર સામે આવી રહ્યા છે. ફરી એકવાર બાયજુ તેના કર્મચારીઓની છટણી કરવા જઈ રહી છે. બાયજુ એ બજારમાં એક પ્રકારની ઓનલાઈન શિક્ષણ એપ્લિકેશન કંપની છે. આ દ્વારા બાળકો ઘરે રહીને ઓનલાઈન અભ્યાસ કરે છે. આ કંપનીએ ભારતની સૌથી મૂલ્યવાન સ્ટાર્ટઅપ કંપની તરીકે નામના મેળવી છે. જાણો શું છે કારણ, જેના કારણે આ કંપની પોતાના કર્મચારીઓને નોકરીમાંથી કાઢી રહી છે.
Byju Laysoff: Byju में फिर शुरू हुई छंटनी, 1 हजार कर्मचारियों को नौकरी से निकाला
Byju's Layoff 2023 : बड़ी-बड़ी कंपनियों में कर्मचारियों की छंटनी रुकने का नाम नहीं ले रही है. इस बार ऑनलाइन टीचिंग ऐप कंपनी बायजू (Byju's Layoff) से बड़ी खबर सामने आ रही है. एक बार फिर बायजू अपने कर्मचारियों की छंटनी करने जा रही है. बायजू मार्केट में एक तरह की ऑनलाइन टीचिंग ऐप कंपनी है. इसके जरिए बच्चे घर पर रह कर ऑनलाइन पढ़ाई करते हैं. ये कंपनी भारत की सबसे मूल्यवान स्टार्टअप कंपनी के रूप में ख्याति पा चुकी है. जानिए क्या कारण है, जिसके चलते ये कंपनी अपने कर्मचारियों को नौकरी से बाहर कर रही है.
कंपनी ने फिर की छंटनी, 1,000 कर्मचारियों को निकाला: रिपोर्ट
BYJU’S Layoffs 1,000 Employees: छंटनियों का दौर खत्म होता नजर नहीं आ रहा है। और देखनें वाली बात ये है कि रोजाना ना सिर्फ इस लिस्ट में नई कंपनियों का नाम शुमार हो रहा है, बल्कि पहले से ही बड़ी संख्या में कर्मचारियों को नौकरी से निकाल चुकी कंपनियाँ, इस साल भी बड़ी संख्या में नौकरियों में कटौती करने जारी रखे हुए हैं। और इसका ताजा उदाहरण बना है भारतीय एडटेक यूनिकॉर्न स्टार्टअप BYJU’S, जिसने खबरों के अनुसार एक बार फिर लगभग 15% कर्मचारियों को नौकरी से निकाला है। जी हाँ! Moneycontrol की एक नई...
After BYJU’s Layoffs, Now Zomato Sacks Employees In Company-Wide Job Cuts: Report
While it has been the season of layoffs for the tech industry, even start-ups have reportedly not been spared. After BYJU’s layoffs made headlines, now food delivery aggregator Zomato has reportedly sacked employees in its company-wide layoffs. As per a report in Livemint.com, Zomato layoffs have also become real as the company laid off employees across functions. This includes sacking workforce in technology, product and marketing and few other divisions, as per the report.
BYJU'S Drops Plan To Relocate 140 Staff From Kerala; Announces Business Expansion, 600 Hiring In State
BYJU'S has rolled back the decision to relocate 140 employees at one of its offices in Kerala after founder Byju Raveendran's meeting with chief minister P Vijayan and announced plans to hire 600 people in the state. The edtech major gave an option to all its 140 staff working at TVM product development centre in Thiruvananthapuram to relocate to Bengaluru as it was planning to shut down the Thiruvananthapuram office as part of its cost optimisation strategy.
Byju's CEO Says Job Cuts Necessitated Due To Macroeconomic Developments
Byju's founder and chief executive Byju Raveendran has apologised to the firm's employees for the clumsy layoffs in India's largest education technology company, saying 2,500 job cuts were necessitated to avoid role duplication and reduce redundancies. In a message to employees, Raveendran said Byju's has been compelled to focus on sustainability and capital-efficient growth because of adverse macroeconomic factors.
Byju’s Allegedly Forcing Employees To Resign: Report
Byju's, the edtech unicorn, has been accused of forced resignations by a union of IT employees in Bengaluru. The union has alleged that India's reportedly highest valued startup is making its employee “forcefully” resign. This development comes days after the edtech company came under spotlight in Kerala for allegedly forcing some of its employees to resign.
If you know your intent is right, and you are working towards betterment, nothing matters: Byju's Gokulnath
With a valuation of $22 billion, India’s most valued startup and edtech leader Byju’s has of late been caught in a maze of dispiriting occurrences—layoffs at group companies, inability to secure portions of funding announced months back and certain media reports highlighting the company’s association with investors with questionable identities.
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