Amid Massive Layoffs, Byju

In a large layoff, Byju’s says it is "optimisation" team

Moneycontrol reported that in the news that education and technology company Byju has fired 2,500 employees across the group, the company has issued a statement that it is “optimizing” the team across the group. did.

“The entire exercise involves less than 500 employees across Byju’s group companies,” the company added.

“We strongly deny the false information presented by Moneycontrol. Optimize teams across group companies to readjust business priorities and accelerate long-term growth. Less than 500 employees from the entire Byju group company are involved, “said a spokeswoman.

It was a few days after Bloomberg’s report showing that Byju was postponing payments for a $ 1 billion acquisition deal signed last year, citing sources familiar with the development.

According to a Moneycontrol report, Byju’s is trying to reduce costs by easing demand for educational technology services after two years of overgrowth.