Arjun Mohan, who took charge as the new chief executive of the India business at Byjus last Wednesday, is set to unveil a series of changes at the financially troubled edtech firm, including cutting the headcount by a third or about 4,000-4,500 people to further tighten costs, people aware of the matter said.
Once the most-valued edtech firm in the world, Byju’s is now battling serious funding issues, a corporate governance crisis and court battles. The firm will have to urgently raise at least $1.5 billion and set its house in order. Can it succeed?
Caught in a maelstrom of funding constraints, loan repayment issues and bad governance, Byju’s stands at the edge of a precipice, where a forced and unwelcome transformation in size and shape is necessary for survival
The panel is likely to select the new CEO and CFO soon, and will conduct scheduled meetings to ensure the smooth operation of Aakash Education Services.