Byju's initiates another round of layoffs, employees dismissed over a phone call

In a recent development, edtech giant Byju's has reportedly initiated a fresh round of layoffs impacting a significant number of employees, primarily within the sales department, according to sources familiar with the matter.

One such employee, Rahul (name changed for privacy), shared his ordeal with Moneycontrol. Rahul, who had taken a leave of absence in mid-March due to a family member's illness, was taken aback when he received a call from Byju's HR department on March 31. During the call, he was informed that his employment with the company was being terminated with immediate effect, leaving him stunned and perplexed.

Seeking clarity on the abrupt termination, Rahul inquired about the reasons behind the decision. The HR executive cited the company's dire financial situation, mentioning that a list of employees to be laid off had been provided by top management.

As Rahul attempted to record the conversation for documentation purposes, the HR personnel objected and abruptly ended the call. Subsequently, Rahul found himself blocked from contacting the HR executive, further exacerbating his distressing situation.

This latest move by Byju's is anticipated to affect a substantial number of employees, with estimates ranging from 100 to 500 individuals, particularly within the sales division. The company's decision to let go of staff without offering a performance improvement plan (PIP) or a notice period underscores the severity of its financial strain.

With the termination process reportedly being conducted via phone calls, employees like Rahul find themselves grappling with uncertainty and anxiety regarding their future prospects. Byju's, which has been a prominent player in the edtech industry, is facing mounting challenges amidst a turbulent economic landscape, prompting these drastic measures to mitigate its financial woes.