Massive Layoffs: Byju's, Novartis Layoff Thousand Employees in a Week

Byju’s and Novartis (Switzerland-based healthcare company) are in the headlines for removing more than 8000 employees. Around 2500 employees were laid off from the group companies of Byju’s.

Both, Whitehat Jr. and Toppr, asked employees to either resign or face forceful termination on Monday.

What did Byju’s and Novartis  Say About Massive Layoffs?

.@whitehatjunior, owned by @BYJUS, has laid off another 280-300 employees, after earlier letting go of over 800 #employees in May, according to sources in the know.

Find out more 👇https://t.co/CpQ9lMjpFb

by @Unibrowverse & @patwardhannn | #LayOffs#Byjus#WhitehatJrpic.twitter.com/rlrP9GtLST

— Moneycontrol (@moneycontrolcom) June 29, 2022

The layoff of employees is only a part of recalibration and optimization of Byju and its group of companies.

Byju's Clarification on Lay offs

The company’s spokesperson also clarified that only less than 500 employees have been eliminated. But, as per news agency PTI, around 36% of the Toppr’s workforce was fired.

Earlier, more than 1000 of Whitehat Jr.employees from India and Brazil left the company. Although the exact figure is not disclosed by the company; Byju claim it to be 500.

Resignation of employees from marketing, sales, teaching, and other operation category began a week ago.  Spokesperson of Whitehat Jr said long-term growth is their focus and they are realigning business priorties.

They will be continuing building strong community for students and teacher. Also, investing on training and recruitment will be continued.

Also Read: New Labour Laws 2022: Employees to get Less Salary, Work 12 Hours/ Day From July 1

Employees Claimed Forced Resignation

<figcaption class="pl-caption>via:inc42

Not just Byju, other edtech startups are following the same and reducing workforce. Reasons are not different, the reopening of schools and institutions are affecting the industry.

Around 10,000 employees from Unacademy, Udayy, Lido, Front Row, and Vedantu are laid off.