Sources: Byju's plans to layoff about 12,000 people, or nearly 25% of its workforce, over the next year; Byju's denies the number of job cuts is more than 2,500
$22B India-based Byju's — that may have taken advantage of pandemic trends and easy funding to grow far faster than ongoing market demand. https://twitter.com/... @morningcontext : “I am not surprised at all by the number of layoffs. When a company does PR around 2,500 layoffs, the real numbers are bound to be a multiple of that.” https://themorningcontext.com/ ... Shivani Verma / @verma_shivani12 : The layoffs are symptomatic of an industry that is shrinking as rapidly as it expanded. Writes @sahaprd in today's longread @MorningContext https://themorningcontext.com/ ... @morningcontext : “The sales team will be the biggest hit.” Byju's is planning to lay off about 12,000 people, nearly 25% of its total workforce, over the next year. The company is also shutting down its IBC Knowledge Park office in southern Bengaluru. ✍️ @sahaprd https://themorningcontext.com/ ... Manish / @manish_shett_ : Company acquires another company to take a loan from the acquired company. https://twitter.com/... @paritoshzero : Unicorn is losing its horn? https://twitter.com/... Ritu Singh / @_ritusingh : This report by @MorningContext says @BYJUS could lay off 12,000 employees, far higher than 2,500 indicated by company earlier this month. If this is true, it'll be one of the largest such layoffs by a startup. https://twitter.com/... Ashish K. Mishra / @akm1410 : Byju's will be laying off 12,000 people, 25% of its workforce. Biggest cuts will be in the sales team as it cuts costs, moves to remote sales. Byju's continues to take any cash it can find. It has taken Rs 300 cr loan from Aakash. Imp story by @sahaprd https://themorningcontext.com/ ...