In a bid to manage its image amid a massive restructuring, leading edtech firm Byju's has announced a stringent new social media policy. The policy, effective immediately, prohibits employees from engaging directly with any media outlet or sharing company-related information, including pictures, videos, or screenshots. Violations could lead to disciplinary or legal action, according to the newly released document titled Social Media Policy Version 1.0.
This move follows the company’s recent decision to restructure its businesses, resulting in the layoffs of approximately 4,000 to 5,000 employees.
Byju's has been under scrutiny due to delays in appraisals, provident fund payments, and withheld performance-linked pay since 2022. The company has opted for video and audio calls to inform employees about their terminations to prevent leaks, discontinuing written communication.
Byju’s also stated that it would actively monitor employees’ interactions, external communications, and social media postings related to the company. This policy applies to various platforms, including Twitter, LinkedIn, Instagram, Facebook, YouTube, Telegram, WhatsApp, Quora, blogs, wikis, and chat forums.
The implementation of this policy coincides with Byju’s efforts to conserve cash amid a liquidity crunch. The company has proposed repaying its disputed $1.2 billion term loan B to lenders within the next six months, seeking to sell assets and restructure subsidiaries. Despite being one of the world's largest edtech firms, valued at about $22 billion, Byju's has faced challenges in raising fresh equity funding, leading to financial complexities.
Byju's recent hire, Infosys veteran Richard Lobo, is leading the HR function, reflecting the company's attempt to navigate these challenges through strategic leadership changes. The new social media policy, although part of a broader industry practice, underscores Byju's current focus on managing its reputation amidst significant internal and external changes.
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