Another layoff at BYJU's amidst shrunken EdTech space
Employees from the sales and marketing division of Toppr were kept on but those from other divisions were requested to leave
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Online learning company BYJU's has asked 300 employees at its Toppr learning platform and another 300 at coding platform WhiteHat Jr to leave in a major overhaul as the Indian ed-tech market has shrunk significantly.
BYJU's acknowledged the development of the layoff at Toppr, which it acquired last year for $150 million, and stated that it had finished "the integration of Toppr and has absorbed almost 80% of its talented workforce into the BYJU'S ecosystem."
Employees from the sales and marketing division of Toppr were kept on after the acquisition was complete, but those from other divisions were requested to leave.
The next phase, according to a company spokesperson, is " to recalibrate business priorities and accelerate our long-term growth"
More than 1,000 of the platform's employees left after being invited to return to work in April or May, and BYJU, the EdTech powerhouse that acquired WhiteHat Jr. for $300 million, earlier this year laid off about 300 workers.
Most of the sacked workers this time were from the platform's sales and code-teaching teams, and several of them had roots in Brazil.
The business said the acquisition process "is on track and is expected to be completed by August" in response to claims that it had delayed payments to stakeholders as part of its $1 billion acquisition of Aakash Educational Services.
Aakash, a provider of offline test preparation services based in Delhi, was purchased by BYJU last year for $1 billion.
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