New Delhi, Sep 26 (IANS): Edtech major Byjus is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday.
According to TechCrunch, Byjus will go through the restructuring exercise to pare down costs amid a broad restructuring of its business following a delayed IPO and pressure from lenders.
The restructuring exercise is being undertaken under the leadership of new CEO Arjun Mohan, according to the report.
We are in the final stages of a business restructuring exercise to simplify operating structures, reduce the cost base and better cash flow management, a company spokesperson said in a statement.
Byjus new India CEO, Arjun Mohan, will be completing this process in t…
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