BYJU's unit Aakash Educational appoints Deepak Mehrotra as MD, CEO
Crisis-hit BYJU’s ropes in Mehrotra to deliver its “aggressive growth plan”
Crisis-hit BYJU’s ropes in Mehrotra to deliver its “aggressive growth plan”
The restructuring will have an impact on 3,000-3,500 jobs, Fortune India has learnt.
The layoffs announced by the global tech giants were on the cards, but the way the developments are unfolding an erosion of brand value at least in the short-term is imminent.
The development comes days after India's most valued startup said it will lay off 2,500 employees.
Byju's standalone income, which comprises its K-12 business, stood at ₹1,551.64 crore in FY21, while it reported a massive jump in expenditure at ₹4,253.78 cr.
These measures will help us achieve profitability in the defined time frame of March 2023, says Byju's.
Byju's had earlier claimed that the rationalised growth between FY21 and FY20 is a result of the changes made in the way the company recognises its revenue.
Conversations with the start-up’s past and present employees indicate that certain business verticals may be staring at a subdued growth.
India's most valued startup and edtech leader Byju's has of late been caught in a maze of dispiriting occurrences.