MASSIVE layoffs! BYJU's job cuts announced across Toppr, WhiteHat Jr; 600 get the sack
BYJU's job cuts have been announced and as many as 600 employees are set to get the sack- 300 from Toppr and 300 from WhiteHat Jr. Check details here.
In a massive layoff, BYJU's has cut at least 600 jobs across its learning platform Topper and coding platform WhiteHat Jr. According to a report by IANS, "online learning giant BYJU's has cut at least 600 jobs -- asking 300 employees at its Toppr learning platform and another 300 at coding platform WhiteHat Jr to go." According to the report for the layoff at Toppr which it acquired last year for USD150 million, BYJU's confirmed the development, saying it has completed "the integration of Toppr and has absorbed almost 80 percent of its talented workforce into the BYJU'S ecosystem". B\YJU's job cuts have come as a surprise considering it is hunting for further takeovers and that too in the US.
It can be noted that employees from the sales and marketing division were retained in Toppr, after the acquisition was completed. While employees in other departments were asked to go. "We are optimising teams to recalibrate business priorities and accelerate our long-term growth," the company's spokesperson said on what will be the next step of the company, as quoted by IANS.
Earlier, WhiteHat Jr, acquired by BYJU's for USD300 million, laid off around 300 employees, after more than 1,000 of its employees resigned after being asked to return to office in April-May. However, this time, most of the fired employees belonged to the code-teaching and sales teams at the platform and some of them worked in Brazil.
In a statement, the company said that "to realign with our business priorities, we are optimising our team to accelerate results and best position the business for long-term growth".
It can be known that the layoffs at BYJU's came amid reports saying that the company has delayed payments to the stakeholders as part of its USD 1 billion acquisition of Aakash Educational Services, to which the company said that the acquisition process "is on track and is expected to be completed by August".