The report mentioned that Byju's is using phone calls followed by emails to inform employees about their termination. The email states that their last working day with the company will be March 31, 2024, and their full settlement will be as per the exit policy.
The stay against the resolutions at the Extraordinary General Meeting (EGM), which the investors passed on February 23 continues, and “none of those resolutions can be given effect to”, Byju’s said in a statement. Byju’s Granted Time Till March 28 by Karnataka High Court to File Rejoinder to Investors’ Response.
Byju s is undergoing a cost-cutting initiative and restructuring drive, downsizing assets and tuition centers. The edtech firm has identified assets that overlap with its Aakash centres.
Things seem to be worsening for the beleaguered edtech Byju’s, as a consortium of its investors, which last month sought out an extraordinary general meeting ..