Edtech major Byju's has laid off close to 1,000 employees across departments as part of its restructuring process, according to persons aware of the matter, said on Monday.
The fresh round of firing comes at a time when the company has entered into a legal battle with lenders in the U.S. for $1 billion term loan B.
Byju's has laid off close to 1,000 employees. However, the final headcount of the company remains around 50,000 because of the addition of new employees, said a person aware of the development.
Byju's had announced cutting about 5% of 2,500 employees over six months starting October 2022, as it unveiled the company's plan to become profitable by March 2023.
The recent layoff is part of the company's cost optimisation process, the person said.
An email query sent to Byju's elicited no reply.
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