Byju’s has downsized its office space in Bengaluru in an effort to cut costs and increase liquidity despite persistent legal and financial difficulties. The edtech company, according to people with knowledge, has laid off thousands of workers this year, and the reduction in office space is considered as part of its cost-cutting initiatives.
Byju’s, which presently employs three people in Bengaluru, has all but abandoned one of these offices. The transition from two towers to two floors is part of the downsizing process, which has been going on for about a month. Additionally, the downsizing process was done over the previous six to eight months at its main corporate office, where only three of the six levels are currently operational.
The move to scale down office spaces comes as Byju’s faces multiple legal and financial challenges. The startup has been facing difficulties and has been reevaluating its operations in an attempt to streamline expenses and enhance operational efficiencies.
Byju’s, known for its extensive footprint in the edtech industry, has over 3 million square feet of rented office spaces throughout the country. However, in light of the current circumstances, the company seems to be making strategic decisions to navigate through the tough times.
According to a Byju’s spokesman, these office space modifications are part of routine adjustments based on changing working practices and corporate priorities. The business keeps reviewing and improving its processes to deal with the difficulties.
This downsizing decision highlights the difficulties the edtech behemoth has and its efforts to stay adaptable and resourceful in a fast-paced corporate climate.