‘Baijo’ will fire two and a half thousand employees? | Pro IQRA News

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New Delhi: India’s leading education and technology company ‘Byju’ is going to cut jobs in the next six months. The company is going to give coconuts to around 25,000 employees till March 2023 to make the loss-making company profitable. Five percent of a total of 50,000 employees will have to lose their jobs to cut marketing and other company costs. ‘Byju’ Co-Founder Divya Gokulnath gave this information to news agency ‘PTI’.

“We have planned to be profitable by March 2023. We have created brand awareness across India. In the coming time, efforts will be made to create brand awareness internationally through new partnerships. 10,000 teachers will be recruited for business in India and abroad”, said Gokulnath. Byju’s subsidiaries ‘MaritNation’, ‘TutorVista’, ‘Scholar’ and ‘HashLearn’ will be part of the India business. Gokulnath said that ‘Akash’ and ‘Great Learning’ will continue to function as independent organisations.

“This new scheme will increase efficiency and help avoid unnecessary expenditure. It will also streamline roles. Our education model ‘Byjo Classes’ and the app are working very well. For this Teachers will be recruited. Due to this scheme, income can be planned”, said Gokulnath.

‘Byju’ has posted a loss of Rs 4,588 crore in the fiscal year ended March 31, 2021. This loss is 19 times more than last year. In the year 2020-21, the loss of the company has increased by 231.69 crores. Thus, the income of the year 2021 has reached from 2 thousand 511 crores to 2 thousand 428 crores.

More than half of the employees will be recruited in India in the next six months. Teachers will be recruited from the US and India for the English and Spanish markets. Goklanath said that the company plans to expand its business in Latin America in the future.

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