New Delhi, June 19: As per the reports, homegrown multinational edtech company Byju슬롯사이트™s has initiated laying off employees across departs. Byju슬롯사이트™s HR team has conducted telephonic as well as in-person meetings at its various offices on June 16 in order to take layoffs decisions, according to reports.

The company plans to let go of several employees across its many departments, including mentoring, training, logistics, finance, sales, post-sales, etc and many within the office are also aware of this development.

The Indian edtech major has also reportedly asked its employees to resign voluntarily on its official HR portal, people close to the development have revealed as per reports. The firm has also gone ahead and deactivated several employees슬롯사이트� official email addresses and were asked hand-over their official identity cards, the mentioned anonymous sources revealed. Reportedly, some of the Byju슬롯사이트™s employees even received layoff communications as early as June 14, while the layoff process is still in progress.슬롯 머신 사이트 추천Mojocare Layoffs: Health-Tech Firm Slashes Over 80% of Its Workforce.

According to the reports, one of the anonymous sources said that some of employees we abruptly informed on June 16 that it was their last working day at Byju슬롯사이트™s, without any prior notice. Post some media reports, employees started asking the HR and their managers if the company is planning any layoffs but the company said there would be none.

The source further added by saying that employees in almost all the departments received mails from Byju Raveendran, saying there won슬롯사이트™t be any further layoffs, and that the company is doing really well among other reassuring things. However, since October, there have been two major rounds of layoffs at least including the ongoing one.

As per another source in reports, the company would be laying off over 1,000 employees, among which senior employees will be mostly impacted.

Byju슬롯사이트™s has declined from divulging anything on the layoffs. While as per reports, these layoffs are targeted to achieve more profitability rather than cut costs.슬롯 머신 사이트 추천Sumo Logic Layoffs: Data Analytics Platform Lays Off 79 Employees as Job Cuts Continue in Tech Industry.

Byju슬롯사이트™s plans to compensate all the impacted employees two months슬롯사이트� salary and a final settlement in about 45 days after July, while there won슬롯사이트™t be any extra severance thereafter, the HR department told the employees, say reports.

The edtech firm started laying off employees a couple of weeks post it skipped paying $40 million in interest on a term loan B that it raised in November 2021. Byju슬롯사이트™s is still dealing with its loan woes, and is aggressively looking to increase profits.

(The above story first appeared on LatestLY on Jun 19, 2023 06:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).