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We are in a tough phase, but we will come back soon: Byju Raveendran assures employees

Raveendran further told employees that the companyโ€™s ongoing discussions with its term loan B lenders due to the recent issues are progressing well. โ€œThese discussions have taken a significant turn and we will get positive development within weeks,โ€ he said.
Russel Dreisenstock Byju Raveendran Vivian Wu Ajay Goel Chan Zuckerberg Initiative Sequoia Capital India

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What's Happening at Byju's - Everything You Need To Know

Byju's, the edtech startup that once held a prominent position as one of the most influential and iconic startups in India, is currently experiencing an unprecedented crisis of significant proportions. The ed-tech startup that was once hailed as a leading force in the Indian startup ecosystem, finds itself in the midst of an alarming crisis. The company is grappling with mounting debts on its balance sheet, loan defaults, lawsuits from lenders, an ongoing investigation by the Ministry of Co...
United States Russell Dreisenstock Whitehat Jr Vivian Wu Russell Dreidenstock Ministry Of Corporate Affairs Orders Inspection

Byju's sacks 1,000 more; count jumps to 3,500

Indias largest edtech firm Byjus will fire 1,000 employees in a fresh round of layoffs across departments. With the latest round, total job cuts at the company have mounted to around 3,500. According to sources, fresh job cuts are an attempt by the company to improve its finances and work towards a path to profitability.
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Source: rediff.com

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