Aakash Fires 80 Employees Amidst Business Model Shift

• Aakash Educational Services Limited (AESL) has laid off around 80-100 employees, including senior and middle-level executives.
• The layoffs are part of a shift to a new business model, as confirmed by an AESL spokesperson.
• AESL, acquired by BYJU'S in 2021, has been involved in legal disputes with the edtech giant.
• MEMG chairperson Ranjan Pai has emerged as the largest shareholder of Aakash, holding about 40% stake.
• Despite the layoffs, AESL plans to be net hirers by the end of the year as part of their Aakash 2.0 strategy.

Source: Inc42