Edtech giant Byju’s lays off nearly 1,000 employees across verticals

Byju’s has handed the pink slip to 900-1,000 employees in a fresh round of layoffs, according to media reports, although sources in the company said the move was part of the “optimisation” strategy that the edtech giant had announced last year that included sacking 2,500 workers.

The latest job cuts have cut across verticals such as product, content, media and technology teams, according to the people familiar with the matter. The Bengaluru-based firm has also reportedly sacked top officials including ones drawing annual salaries of Rs 1 crore and above.

The move by India’s most valuable start-up comes amid a funding winter and steep losses. Byju’s, valued at $22 billion, is targeting to be profitable by March this year.