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](https://inc42.com/buzz/aakash-fires-about-80-employees-citing-shift-to-a-new-business-model/)