Byju’s newly appointed CEO Arjun Mohan has taken the decision to cut off around 5500 jobs. The number to fire the staff will be including its senior executives and others.
Byju’s is one of the largest edtechs based in India. Byju’s newly appointed CEO Arjun Mohan has taken a decision to fire its around 5500 employees. We have received this information from the sources familiar with its development. As we have already said this move was made as the newly appointed CEO Arjun Mohan has come on board.
It is clear that the affected workforce includes Byju’s senior executives. As the company has said; it wants to reduce the high costs for the firm and its related management expenses.
The company is facing all these issues because of some reasons and the failure of its employees’ performance to work effectively. The entire system for the same includes its contract staff and that too will be let go; as we have to get to know all this information from its different sources to inform the readers at Tech Planet News.
Discussing further, we have got to know that the newly appointed CEO Arjun Mohas met with the senior staff this Tuesday. The CEO while communicating with the senior staff said; that their team and they too would be impacted by the same. When drilling more details. We did not find any data where the company has fired any of the staff yet. But the process will start soon during this week or maybe next one.
Do you know why this decision has taken place?
The decision to fire some of the staff and reduce the number of some centers from some of the locations is to face issues with the cash flow. The issue resolution will take place at the end of October.
What about the online and offline staff?
When discussing the sources. We got to know that the company has taken action for its online and offline staff. Which includes the regional sales offices for the same. Right now the company has around 19 regional offices as a decision made by the new CEO Arjun Mohan. They will reduce the number of its regional offices and it could be 4 to 5 to have its regional offices.
Byju’s New CEO Arjun Mohan
Byju’s appointed a new CEO Arjun Mohan this week on 20 September 2023. Arjun Mohan is a former UpGrad executive and he had also worked at Byju’s. This new CEO is responsible for 75% of the company’s revenues. Mohan was brought in a month ago and as we discussed the sources said that he is working with Byju’s in an informal power during this period.
Further, he said that they are in the final business restructuring practices. These practices will simplify the operating structures including the company’s main issue of costs and better cash flow management to fix the same.
The new CEO Arjun Mohan will take action to take the same further within the coming few weeks. As he has said they will head a revamped and further its all suitable actions next. Said; Byju’s, one of the spokespersons by adding the above words. Moreover, the company has its parental partner Think & Learn Pvt. Ltd. They have around 19,000 employees including its contract staff. They have taken action to reduce the number of employees from them too. And there they are likely to reduce the posts to around 15,000.
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