Byju’s to vacate several offices in cost-cutting drive, may give up HQ partially
Byju's is undergoing a cost-cutting initiative and restructuring drive that includes downsizing some of its smaller assets across the country.
To achieve this, the company has identified multiple offices and tuition centers ranging between 500 and 1,000 sq ft across 17 cities.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitAs part of its real estate restructuring, the firm has identified assets that overlap with its Aakash centres. Going forward, there will be only 200 tuition centres that will also serve as sales regional offices.
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“Byju's is currently generating approximately Rs 100 crore in revenue every month and will be shifting its focus to the top four to five cities,” said people aware of the development.
Byju's will now have around 250 centres left in the country that will also double as its sales centres, people aware of the matter said. Source said the company has been downsizing its tution centres since the last 18-24 months.
The news was first broken by online publication The Captable.
Between 2022 and 2023, the cash-strapped firm gave up 400,000 sq ft at IBC Knowledge Park and shifted operations from Kalyani Tech Park. In Bengaluru it has also vacated a 400,000 sq ft property at Prestige Tech Park, as part of its cost-cutting efforts.
“The firm has
