Byju’s Shut Down 30 Tuition Centers: 262 Tuition Centers to Operate on Hybrid Model, Company Cuts Costs

Byju, the edtech company known for its rigorous teaching methods, has shut down 30 of its 292 tuition centers. The parent company, Think & Learn, issued a statement informing that Byju has decided to close these tuition centers as part of cost-cutting measures.

The company stated that the remaining 262 tuition centers will operate on a hybrid model. Previously, apart from its headquarters, Byju had also closed all its other offices and instructed all employees to work from home.

Byju stated – We take pride in the dedication of our teachers and the performance of our students. Byju released a statement expressing pride in the dedication of its teachers and the performance of its students. Focusing on quality has helped most tuition centers to become profitable. In the coming years, 262 tuition centers will continue to operate in a hybrid model by incorporating the best and latest technology.

Raveendran sold his house to pay his salary

Earlier, Byju’s founder Byju Raveendran had sold his house and the homes of his family members to pay salaries to employees. He mortgaged two houses in Bangalore, raising around 100 crore rupees, and paid salaries to nearly 15,000 employees.

Byju’s investors ousted Raveendran from the board

On February 23, after an Extraordinary General Meeting (EGM), Byju’s investors removed Raveendran, the company’s founder and CEO, his wife Divya Gokulnath, and his brother Riju Raveendran from the board.