Byju's new CEO gave a shock, 4500 employees may become unemployed

Talking about retrenchment, permanent and contractual people will be removed from Byju's parent company. The effect of layoffs will not be visible on any other companies. On the other hand, a large number of senior posts in the firm will be made redundant or abolished.

Arjun Mohan, who took over Byju's India business about a week ago, has prepared a complete plan to improve the situation of the company. The company is going through restructuring. In which more than 4500 people may lose their jobs. According to people with information, the entire work is being done under the supervision of the new CEO. This will reduce the financial burden on the company and will also see an increase in cash flow.

Mohan, in his second stint at Byju's after taking over the Indian business of edtech rival UpGrad, has told senior company executives to take over several different businesses as part of a shake-up expected to take place later this week or early next week. Will also merge. Talking about retrenchment, permanent and contractual people will be removed from Byju's parent company. The effect of layoffs will not be visible on any other companies. On the other hand, a large number of senior posts in the firm will be made redundant or abolished.

The company is being restructured

According to media reports, the company is going through its restructuring phase. Due to which preparations are going on for large scale layoffs in the company. Even before this, Byju has shown the way out to its employees. The entire restructuring is being done under the supervision of CEO Arjun Mohan. Arjun Mohan was the first Chief Business Officer of Byju. According to the company spokesperson, the restructuring phase is in its final stage. After the end of the restructuring phase, expenditure will reduce and cash flow will be better than before.

2023 was not a good year

This year has been no less than a nightmare for Byju's, the country's largest edtech company. Only last month, three senior officers of the company had resigned. Due to which a big crisis arose in front of the country's largest edtech company. Only last month the news came that the company is not transferring the PF of its employees. On the other hand, the company is facing a lot of difficulties in raising funds.