Kalyani Tech News Today

Edtech firm Byjus is undergoing cost-cutting and restructuring efforts, downsizing smaller assets and consolidating its focus on the top four to five cities. The company has identified offices and tuition centers for closure across 17 cities, reducing the count to approximately 250. Byjus faces financial challenges, including disputes with landlords over rental payments and legal issues related to a $1.2 billion loan

Byjus 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.

Byjus 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.

Education technology firm Byju's, struggling financially, has vacated a 400,000 sq ft office space in Bengaluru in an attempt to cut costs.

Byjus was paying a rental of about Rs 4 crore per month for the office space and had signed the rental agreement about 3.5 years ago with the Prestige Group.

Byjus slashed its monthly operational expenses by 63 percent in December. The result? Badly maintained washrooms, no coffee machines, non-operational elevators, and low employee morale in its Bengaluru offices.

Over the weekend, Moneycontrol visited Kalyani Tech Park and the two remaining offices of Byju’s — IBC Knowledge Park, Bannerghatta and Prestige Tech Park, Kadabeesanahalli, to confirm the development.

The most valuable edtech business in India, Byju's, has recently made substantial efforts to reduce expenses and address liquidity issues.