Byju's Shuts Offices Pan India To Cut Costs - Vibes Of India

Gujarat News, Gujarati News, Latest Gujarati News, Gujarat Breaking News, Gujarat Samachar.

Latest Gujarati News, Breaking News in Gujarati, Gujarat Samachar, ગુજરાતી સમાચાર, Gujarati News Live, Gujarati News Channel, Gujarati News Today, National Gujarati News, International Gujarati News, Sports Gujarati News, Exclusive Gujarati News, Coronavirus Gujarati News, Entertainment Gujarati News, Business Gujarati News, Technology Gujarati News, Automobile Gujarati News, Elections 2022 Gujarati News, Viral Social News in Gujarati, Indian Politics News in Gujarati, Gujarati News Headlines, World News In Gujarati, Cricket News In Gujarati

Byju’s Shuts Offices Pan India To Cut Costs

| Updated: March 13, 2024 13:03

Staff has been asked to work remotely as the edtech firm is going through liquidity issues

Edtech company Byju’s has vacated all its offices across the country except its office in its headquarters at Bengaluru. The move is reportedly aimed at cutting costs in view of recent liquidity concerns the firm is facing owing to a dispute related to its rights issue. 

Byju’s India CEO Arjun Mohan has told all employees to work from home indefinitely, excluding those operating from the tuition centres, numbering around 300. 

The shutting down of offices has been going on for the past six months. Byju’s has been gradually closing offices as leases expire, according to sources. 

Meanwhile, Byju’s has distributed part of the pending salaries for February 2024. It plans to   settle the remainder once permitted to access funds from the closed rights issue. 

In some good news for the company, last month, the National Company Law Tribunal (NCLT) deferred its verdict on a petition filed by Byju’s investors, paving the way for the company’s $200-million rights issue.

Also Read: Istanbul Airport Introduces Therapy Dogs to Ease Travel Anxiety

Your email address will not be published. Required fields are marked *