Byju’s staff say morale waning amid turmoil at Indian edtech firm

Byju’s staff say morale waning amid turmoil at Indian edtech firm

Byju’s, an Indian edtech startup, is facing fresh troubles this week, which have escalated concerns among employees who were already uncertain about their future after several rounds of job-cuts, according to more than a dozen current and former staff who spoke to RushHourDaily. Auditor Deloitte and three prominent board members ended their ties with the Bengaluru-based firm on Thursday, raising further questions about the once high-flying company’s financial health and governance practices. Byju’s has already let go of several thousand employees this year due to slowing demand and is locked in a legal battle with its lenders and faces regulatory scrutiny, even as its valuation has been slashed by at least one marquee investor.

“Morale is at an all-time low. Literally every person has a job portal open on their laptop at all times. Everyone wants to leave desperately before they are asked to pack up overnight,” said a senior manager at Byju’s, requesting anonymity. Several employees, all of whom requested anonymity, said they had received no memos about the exits of auditor Deloitte and the board members. A Byju’s spokesperson did not respond to RushHourDaily queries on staff morale, the lack of communication from management or other issues raised by employees. After initially denying the board exits, Byju’s late on Friday confirmed in a statement that a “few” investors had vacated their board seats.

The edtech firm, valued at about $22 billion early last year, has laid off thousands of employees since October to cut costs, after seeing demand for online tutoring drop following the end of the COVID-19 pandemic. Two of the employees that spoke to RushHourDaily said performance incentives, bonuses and appraisals had stalled amid the turmoil. A former employee, citing conversations with managers who are still at Byju’s, said many “are insecure about their future, because top leaders have not been in regular touch with them for about four- to six-weeks.” Another source, who left Byju’s last month, said: “People count each day anticipating layoffs, today I may be safe, tomorrow I may not. No one is working there out of choice anymore, but due to financial commitments, or because they haven’t yet found another job.”

Deloitte on Friday declined further comment on cutting ties with Byju’s, and the board members either did not respond to phone calls or were not reachable.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

Have a tip we should know?

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    3 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
    Women’s Demand for Shapewear – the big Trends
    3 years ago
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    8 months ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    8 months ago
    Dubai faces down airline rivals with $50 bln jet orders
    8 months ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    8 months ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    8 months ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    8 months ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    8 months ago

Follow @rushhourdaily: