According to media sources, edtech unicorn Byju’s has fired over 1,500 workers in a new round of layoffs.
Employees mostly from the design, engineering, and production verticals have been impacted by the layoffs. Around 2,500 employees, or 5% of Byju’s workforce, were let go in October.
Around 1,500 people were let go by Byju’s due to cost-cutting measures and operational outsourcing.
The latest round of layoffs at the unicorn edtech company financed by Tiger Global occur as the startup ecosystem continues to struggle with a lack of funding. At least 1500 members of the startup workforce experienced job losses in the first two weeks of January 2023 alone.