story-banner

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

author-image

Nikhil Patwardhan

25 reads
author-image

Nikhil Patwardhan

25 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.

Read this article for free

Sign in using

Or

Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service

and

Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.