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Through this move, the company wants to remunerate more of its employees and further incentivise the efforts by creating wealth for the employees as they build Adda247.
Byju's employees say its success is built on the back of an abusive and exploitative work environment and unscrupulous sales practices that involve profiling, pursuing and pressuring potential customers from poorer backgrounds to buy its courses.
Amazon will bring down the shutters on its Amazon Academy starting August 2023, as the demand for online learning wanes post the pandemic. The app has over 5 million downloads on Google Play.
“Sometimes what Byju wants is not what BYJU’S demands,” founder and CEO of the edtech giant said in an email to his employees where he blamed global macroeconomic factors behind the company’s focus pivot to profitability which prompted the layoffs.
Lido has failed to repay debts and has fallen behind on payments to former employees.