-0.2 C
London
Friday, December 9, 2022

Employees not forced to resign, it’s part of 5% staff reduction: BYJU’s

Must read

Paytm’s board is considering a share buyback proposal on December 13

Digital financial service provider Paym on Thursday said the board will meet on Dec. 13 to consider a share buyback proposal, taking into account...

Rupee gains 19 paise to $82.19 on dollar weakness and solid stocks

Forex According to traders, the continued outflow of foreign funds weighed on investor sentiment and limited appreciation bias. Thursday has the rupee Settled...

No evidence found in Iowa dig after woman claimed father was a serial killer

A three-day search in southwest Iowa that followed a woman's claims that her late father was a serial killer turned up no evidence, state...

UK regulator says it is not responsible for Virgin Orbit mission delay • londonbusinessblog.com

Virgin Orbit is targeting a launch that would take place next week from Cornwall, England - and that would be the first spaceflight to...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Amid reports of forcing being employees to resignedtech major BYJU’s said on Saturday it will not force its staff in Karnataka or elsewhere to resign or face resignation, and the entire exercise is part of the 5 percent reduction of its 50,000-strong workforce announced earlier.



Earlier this month, BYJU’s announced it would cut 5 percent of its 50,000-strong workforce (about 2,500 people), which “will be rationalized in phases across product, content, media and technology teams” in an effort to boost its Indian business.

The Karnataka State IT/ITeS Employees Union (KITU) has claimed that, after Thiruvananthapuram in Kerala, BYJUs is now forcing employees to resign at its headquarters in Bengaluru.

“It is absolutely wrong that BYJU’S is forcing employees to resign. BYJU’S is a responsible organization and follows all laws of the country. BYJU’S employs nearly 50,000 people across India. It is part of its current strategic plan to grow profitably and sustainably” , the edtech unicorn told IANS.

The company also said that each employee affected by the restructuring will be individually informed.

“BYJU’S offers them all a progressive exit package, including comprehensive family health insurance, outplacement services, fast full and final settlement on demand and the provision of ‘garden leave’ where they can look for work while on BYJU’s payroll”, a company spokesperson said.

Earlier, the edtech unicorn had decided to close the operations on the Technopark campus in Thiruvananthapuram, after which the workers approached the state labor department.

About 140 employees of the 170 employees of Technopark have been asked to leave. BYJY’s has nearly 3,000 employees in Kerala.

The company said it will strengthen its presence in the state in the future.

“All of these employees will also be offered an assured path to return to BYJUs in the event that they are unable to find a job for the next 12 months,” it added.

The company said that in an ongoing organizational restructuring for profitable growth, “BYJU’S is committed to providing relevant relocation opportunities to affected employees.”

“In this regard, while we are ceasing part of our Thiruvananthapuram business to reduce redundancy, we are also offering the entire Technopark team the opportunity to relocate to Bengaluru,” it added.

BYJU’S also said it will add three more offices in the state in the current fiscal year, bringing the total number to 14, in addition to increasing the number of employees in Kerala from 3,000 to nearly 3,600.

ALSO SEE:

Vedanta reports 61% yoy decline in Q2 net profit to ₹1,808 crore

Xiaomi closes Mi Financial Services in India to focus on core biz services

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Paytm’s board is considering a share buyback proposal on December 13

Digital financial service provider Paym on Thursday said the board will meet on Dec. 13 to consider a share buyback proposal, taking into account...

Rupee gains 19 paise to $82.19 on dollar weakness and solid stocks

Forex According to traders, the continued outflow of foreign funds weighed on investor sentiment and limited appreciation bias. Thursday has the rupee Settled...

No evidence found in Iowa dig after woman claimed father was a serial killer

A three-day search in southwest Iowa that followed a woman's claims that her late father was a serial killer turned up no evidence, state...

UK regulator says it is not responsible for Virgin Orbit mission delay • londonbusinessblog.com

Virgin Orbit is targeting a launch that would take place next week from Cornwall, England - and that would be the first spaceflight to...

Airtable fires 250+ as CEO mentions importance of ‘being a streamlined organization’ londonbusinessblog.com

To get a roundup of londonbusinessblog.com's biggest and most important stories delivered to your inbox every day at 3PM PDT, register here. Hello, happy Thursday....