byju
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Expansion
Ed-tech company Byju’s is preparing to turn profitable by March 2023. For this she plans to reduce her expenditure. The company plans to reach a profitable position by reducing its marketing and operating costs. For this, the company will lay off five percent or about 2,500 employees in the next six months.
The company’s co-founder Divya Gokulnath told news agency PTI that the company will start focusing on increasing brand awareness overseas through new partnerships. In addition, it will also recruit 10,000 teachers for business in India and overseas.
Gokulnath said that we have created significant brand awareness across India. Now we plan to reach profit position by March 2023. For this we have prepared a plan. The marketing budget will be minimized under the scheme. Expenses will be prioritized.
He told that this new scheme will help us to increase efficiency, avoid waste. Our hybrid learning model is the ‘Tuition Centre’ and our ‘online learning model’ which is Byju’s classes or our ‘Learning App’. We have planned to hire 10,000 teachers.