Kerala: Govt intervenes after BYJU'S lay-off plan at Technopark triggers protests

BYJU’S Think & Learn Private Limited, working from the Carnival building in Technopark, a technology park in Thiruvananthapuram, Kerala, is planning to cease its operations from Thiruvananthapuram.

As a result, more than 170 employees in Thiruvananthapuram, are being forced by the management to resign without getting any notice regarding the same, leading to protests.

Also Read: BYJU’S raises $250 million in fresh funding amid lay-off blues

The issue has been taken up by Prathidhwani, a welfare organisation for IT employees.

The organization took up the issue with Kerala’s Labour Minister V Sivankutty, who in turn  asked the company to come up with an amicable and dignified settlement, besides a revised exit policy.

The organization has requested the following compensatory benefits-

• Payment of October’s salary on November 1, 2022
• One-time settlement of salary for the upcoming three months, from November 2022 to January 31st, 2023
• Encashment of earned leaves
• Full settlement of variable pay

Also Read: Review financials of BYJU’S: Lok Sabha member tells ICAI

BYJU’S path to profitability

BYJU’S recently announced its path to profitability whereby it will consolidate all its K10 India subsidiaries into one unit to leverage their synergies.

Also Read: BYJU’S reports ₹4,588-crore loss; why is its CEO still upbeat?

The move will lead to the lay-off of about 2,500 people across roles and cities. Meanwhile, the company also plans to hire 10,000 academic staff across the globe, which will comprise about half of the hiring in India.