Bengaluru: The offices of the edu-tech firm Byjus are closing down. The company stated that such a move is part of cost reduction. There are reports that the offices except the headquarters in Bengaluru will be closed. This cost-cutting measure comes at a time when we are going through a severe financial crisis. The company took this decision as part of the restructuring plan of India CEO Arjun Mohan of Byjuice.
14,000 employees of the company have been instructed to shift to work from home. Reports indicate that more than twenty offices in Delhi, Gurugram, Mumbai, Pune, Hyderabad and Chennai will be closed. Except for the employees at the head office and around 300 employees at Byjus Tuition Centers, all others will switch to work from home mode.
Company sources said that the lease agreement has not been renewed for several months and the offices are being vacated. Byjus has laid off several employees over the past 12 months, hit by low demand for its online learning services and declining venture capital funding.
