Byju shuts all offices in India, employees asked to work from home know the reason

EdTech Company Byju’s (Byju’s) has closed all its offices in India. The company has asked its employees to work from home. According to the IANS report, only Byju’s tuition centers and Bangalore headquarters have been kept operational. The decision will affect 20 thousand employees of the company. The reason behind all this is the ongoing dispute between the company and investors. Let’s know what the whole matter is.

What is Byju’s latest decision?

Byju’s is an edtech company. It educates subscribers through its app. Under the latest decision, the company has closed all its offices in India. Only the headquarters and tuition centers located in Bangalore’s Knowledge Park have been kept operational. All employees have been asked to work from home.

Why were the offices closed?

According to the report, Byju’s has taken this decision with the intention of cost cutting. In fact, Byju’s has not been able to pay the salary of the month of February to its employees till now. There was a promise to pay the salary of February by 10 March, which has not been fulfilled. Only part payment has been made, that is, a part of the salary has been given to the employees.

Why did Byju reach in these circumstances?

According to the report, there is a dispute between Byju’s Byju Ravindran and some shareholders of the company. In fact, in a meeting, the shareholders had decided to remove Ravindran and his family from the board, which Ravindran termed illegal. The matter reached the court and the court has banned the use of some money. That money cannot be used until the dispute between the two parties is resolved.

Byju’s has around 300 tuition centres across the country. The company had recently decided to lay off employees, due to which a large number of employees lost their jobs.