Byju’s gives up all office spaces in India amid worsening liquidity crisis

Nikhil Patwardhan

29 reads

Nikhil Patwardhan

29 reads

In response to uncertainties regarding the utilisation of funds raised through a rights issue last month, the company has directed its entire workforce of over 20,000 employees to indefinitely operate remotely

March 11, 2024

4 MINS READ

In what is arguably the most drastic in a slew of cost-cutting moves by embattled edtech Byju’s, all the company’s offices have been closed except for its headquarters in Bengaluru’s IBC Knowledge Park, multiple people aware of the matter told The CapTable. As a result, managers have asked employees to work from home for the time being, with the company not providing any further clarity regarding when it plans to reopen its offices, the people said.

“All 20,000-plus employees have been asked to work from home. The company does not have the money to pay rent. It has already run into trouble with landlords in some locations,” said a senior Byju’s executive on condition of anonymity.

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