Byju's says 262 tuition centres operational, a few to undergo 'strategic restructuring'
Denying reports that 200 of its tuition centres are to be shut down as part of the latest cost-cutting move, the company said that there is no such reduction planned.
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NEW DELHI: Embattled edtech company Byju’s on Friday said that its tuition centres have entered the third successful year with 262 offline locations currently operational across the country.
Denying reports that 200 of its tuition centres are to be shut down as part of the latest cost-cutting move, the company said that there is no such reduction planned.
As the company strives for operational efficiency, “it has identified opportunities for improvement for a small percentage of tuition centres, which will undergo strategic restructuring to align with BYJU’S long-term vision,” a company spokesperson said in a statement.
“Nearly all Byju’s tuition centres continue to serve students successfully across India, gearing up to set new benchmarks in hybrid learning, which brings together the best of offline and online learning,” the spokesperson said.
“Ninety per cent of tuition centres — 262 out of 292 — will continue to function in this novel hybrid model, integrating the best and the latest technology in the coming years,” the spokesperson added.
Last week, Byju’s mandated all its employees to work from home as it gave up office spaces across the country amid several cash crunch.
The company is giving up office spaces as the leases expired, keeping only its Bengaluru-based headquarters.
The company is also yet to disburse full salaries for thousands of employees for the month of February as its funds remain stuck amid an ongoing NCLT case with some key investors.