Byju’s Closes Offices in Many Cities, Lays off Employees, and Cuts Costs, Says Report

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Edtech giant Byju’s has been facing financial difficulties, prompting the company to take measures to streamline operations and cut costs, resulting in the closure of several offices across India.

The company has already shut down offices in Gurugram and Bengaluru, and more closures are expected in the near future. A report from The Economic Times indicates that the Noida office is currently undergoing the shutdown process.

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These office closures have led to multiple rounds of layoffs, significantly affecting the workforce at these locations. For instance, the Sector 44 office in Noida was vacated, resulting in a significant number of employees losing their jobs. This office space was shared with Byju’s subsidiary, Aakash, which continues to operate from a different floor in the same building.

Employees who remain have been offered the option to relocate to Bengaluru or work from Byju’s Tuition Centres (BTCs). The BTCs, present in 302 centres across 143 towns in India, serve as both offices and tuition centres, with dedicated office rooms for sales staff.

In Noida, Byju’s occupied two floors at its Sector 125 location, acquired after taking over Gradeup in 2017. As per an employee speaking to ET, this location is expected to close by the end of July, with existing employees relocating to another office space in Sector 3.

Similarly, in Bengaluru, the company is reducing office space. The Kalyani Tech Park office is currently being closed, and two out of nine floors at the Prestige Tech Park campus have been vacated. Employees have been given the option to relocate to the company’s head office on Bannerghatta Road.

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Despite these closures, Byju’s spokesperson confirmed that the company still holds over 3 million square feet of rented office space across the country. The spokesperson attributed the changes in office space to adjustments in working policies and business priorities aimed at enhancing operational efficiency.

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However, these office closures come amidst a series of challenges faced by Byju’s, including governance issues, layoffs, delays in provident fund payouts, financial reporting delays, board resignations, the resignation of the statutory auditor, and loan default.

As Byju’s navigates through these difficulties, it remains to be seen how these changes will impact the company’s future operations and its workforce.

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