The struggling edtech startup Byju’s announced on Friday that it has successfully entered its third year of business, with 262 offline locations currently open around the nation.
The corporation refuted rumours that 200 of its tutoring locations might close as part of the most recent cost-cutting measure, saying that no such reduction is anticipated.
A company spokeswoman stated in a statement that the company is working to enhance operational efficiency and that “it has identified opportunities for improvement for a small percentage of tuition centres, which will undergo strategic restructuring to align with BYJU’S long-term vision.”
“Nearly all Byju’s tuition centres continue to serve students successfully across India, gearing up to set new benchmarks in hybrid learning, which brings together the best of offline and online learning,” said a spokeswoman.
“Ninety per cent of tuition centres — 262 out of 292 — will continue to function in this novel hybrid model, integrating the best and the latest technology in the coming years,” said a spokesperson.
Due to many financial constraints, Byju’s gave up office locations around the nation last week and required all of its staff to work from home.
The company’s leases on office spaces have expired, and it is solely keeping its headquarters in Bengaluru.
Additionally, because of its financial difficulties stemming from an ongoing NCLT case involving a few significant investors, the company has not yet paid hundreds of workers their entire pay for the month of February.
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