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.

“We are working hard towards achieving profitability at the group level in this financial year itself,” he wrote. “Our rapid organic and inorganic growth has created some inefficiencies, redundancies and duplication within our organization, that we need to rationalize to realize this.”