Crisis-hit Byju’s gets into WFH mode
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New Delhi: Embattled edtech company Byju’s has apparently mandated all its employees to work from home as it gives up office spaces across the country amid several cash crunch, barring those working at its 300-odd offline tuition centres. The company, which managed to disburse a portion of the pending salaries for over 20,000 employees for the month of February, has given up office spaces as the leases expired, keeping only its Bengaluru-based headquarters, people close to the development told on Monday.
The move to give up offices is part of Byju’s India CEO Arjun Mohan’s restructuring exercise to save cash as proceeds from the rights issue (around $250-$300 million) remain stuck amid its tussle with select investors.
