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Thousands of employees of Byju's Tuition Center have called off protests after the company held a town meeting where it ruled out further layoffs, reports said. Byju's has also agreed to remit variable pay and other incentives to staff.
Employees had planned protests amid speculation that Byju's would start layoffs due to a substantial drop in subscriptions at tuition centers. However, the company's management assured employees that there are no plans for layoffs at this time.
In a statement, Byju's said, "We are committed to our employees and their well-being. We have always been transparent with our employees and have shared our plans for the future with them. We are confident that we will emerge stronger from this challenge."
The protests were initially planned for Tuesday, July 25. However, after the town hall meeting, employees decided to call off the protests.
The decision by Byju's to rule out layoffs is a relief to employees, who were worried about their jobs. The company's decision to remit variable pay and other incentives is also a positive step.
The protests by Byju's Tuition Center employees were the latest sign of trouble for the company. In recent months, Byju's has been facing a number of challenges, including a drop in revenue and a decline in the number of new users.
However, the company's management has said that it is confident that Byju's will emerge stronger from these challenges. The decision to rule out layoffs and remit variable pay to employees is a step in the right direction.
