This week, fresh troubles at the Indian edtech startup Byju’s have heightened concerns among employees . The employees were already uncertain about their future.
This is as reported by more than a dozen current and former staff to Reuters.
The Bengaluru-headquartered firm experienced the severing of ties with Auditor Deloitte and three prominent board members.
This development has raised additional questions regarding the financial health and governance practices of the company. It was once considered highly successful.
Edtech Byju’s has already let go of several thousand employees this year. Slowing demand and a legal battle with its lenders have led to these issues. Byju’s is currently facing regulatory scrutiny, and at least one marquee investor has slashed its valuation.
“Morale is at an all-time low. Literally every person has a job portal open on their laptop at all times. Everyone wants to leave desperately before they are asked to pack up overnight,” said a senior manager at Byju’s, requesting anonymity.
“Right now the situation is so dismal, subordinates are sitting with their managers and job hunting.”
Several employees, all of whom requested anonymity, said they had received no memos about the exits of auditor Deloitte and the board members.
A Byju’s spokesperson did not respond to Reuters queries on staff morale, the lack of communication from management or other issues raised by employees.