Edtech decacorn has said that it will not exit Kerala and that the company will be strengthening its presence in the state going forward.
On October 26, media reports suggested that BYJU’S, which operates at the Carnival building in Technopark in Thiruvananthapuram, was planning to stop its operations in the city.
Fearing layoffs, many of its employees also met Kerala Labour Minister V Sivankutty, who said the state government would order a probe into the alleged layoffs. A meeting was subsequently called by the labour department to find an amicable solution.
“The recent reports around BYJU’S operations in Kerala are far from reality,” a company spokesperson said.
“BYJU’S will add three more offices in the state in this financial year, taking the total number to 14 and increasing the number of employees in Kerala from 3,000 to nearly 3,600,” he added.
This week has been tough on BYJU’S. Apart from reports about India’s most valued edtech startup borrowing Rs 300 crore from its subsidiary Aakash Educational Services, there have been reports of the edtech giant laying off 140 employees and shutting its operations in Thiruvananthapuram.
Byju Raveendran, Founder and CEO, BYJU’S
“Out of the more than 3,000 employees at our Kerala offices, only 140 have been transferred to its Bengaluru office. The narrative in the media has arisen because of this misunderstanding,” the spokesperson said in an official statement.
“All these employees will also be offered an assured path to return to BYJU’S in case they are unable to find a job in the next 12 months. Our human resources teams are in constant touch with everyone involved, and are doing everything necessary to resolve their problems,” it added.
BYJU’S said that it will be providing employees with extended family health insurance benefits, and outplacement services led by some of the industry’s best recruitment specialists, and are fast-tracking full-and-final settlement on demand.
