Hearing really bad news from BYJUs, firm has silently laid off upto 15-20 K people in months
People in the firm what is happening? Is this the end of edtech and BYJUs? What went wrong?
First, they had a layoff. Lot of good people quit including great people Then, they had a second lay off Some great people in the leadership quit. Middle management people are quitting every day. Only engineers and other people who are not able to get jobs are remaining They shut down majority of US acquisitions They are trying to sell some of them like Tynkr and Epic Not able to raise funding till now even though trying since December Sales is down 90% New Inside Sales process is not working They are out of runway.
In addition so many signs are there
Real Estate consolidation / Lease Exits
High performing senior executives are resigning
Hiring Freeze and Salary Freeze
Good riddance. Such an unethical company.
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You can go and figure all these out
1- They have not paid vendors since Sep 22 or have paid a very low amount
2- Some of the founders / employees of acquired companies have been asked to move on without making the payment which was due to them.
3- Most employees have not received their F&F or dues as written in MC article today
4-RealEstate have been heavily optimised and there is only 1 or 2 floors now .
5- All US employees have been sacked and products have been moved to India for a slow death
I am sure of 3 floors in IBC office, 1 in GGN office, 1 in Noida office among other. This is exaggerated man
It's a shitty company, no doubt. But this seems a bit exaggerated.
People in the firm what is happening? Is this the end of edtech and BYJUs? What went wrong?
Many VPs, Business heads are moving out so quickly mergers of departments and closure of some departments. Scary !!!
Tentatively JAN third week. ( no runway left for Feb) - Employees could be paid in Esop’s valued at 2.7B $ as per internal disscussions.
CLE, Content, Tech and product teams are going to be sliced. All products are going to KTLO. This...
As per internal company sources: This is big like 500+, lots of folks cut in platform teams, brand teams, marketing teams, business teams, product and tech. Wish everyone there all the best. This shall too pass!
Hired lionel messi to promote brand and cuts employees to save costs. What a fucking high IQ C suite the compan...