Byju's lays off 500 and may drop more people in latest edtech crisis

Recently, over 800 employees of WhiteHat Jr, resigned after being asked to work from office

In continuation of the recent trend, another edtech major has issued pink slips to hundreds of employees. Bengaluru-based Byju’s — valued at $22 billion — has laid off about 500 employees at its group companies —WhiteHat Jr and Toppr. It’s a move to drive cost efficiency, according to the company.

The number of layoffs, cutting across various department functions, may increase, sources said.

This comes at a time when the Byju Raveendran-led firm was planning an IPO. The company wants to go public by next year. It may do a primary listing in the US and a secondary one in India or