Edtech firm BYJU’S who has been in news for money related cases since a few months has fired its employees belonging to mentoring and product expert division after a performance review.
The company said that the decision has affected the jobs of only 100 employees and the salary of August and September will be offered to them as a final settlement within the 90 days of layoffs.
“As part of a periodical performance review, 100 individuals who did not meet expectations after a performance improvement plan, were let go with proper procedures. Please note, this measure is firmly rooted in performance-based considerations and is not in any way a cost-cutting endeavour,” a Byju’s spokesperson said in response to queries.
Whereas other employees confirmed to Moneycontrol(news channel) that 400 employees were asked to resign from the job.
“The HR gave a call and informed employees that their email addresses will be deactivated within the next two hours and asked them to download pay slips and other important documents. They were immediately asked to initiate exit on the call with the HR on the line,” said a source in the know, requesting anonymity.
As per the sources, staffs were asked to resign voluntarily and were offered the salary of two months (August and September) as their final settlement. Employees who refused to leave were immediately terminated and were promised their salary payment up to August 17, they added.
“The HR told us that if you choose to be terminated, there will be other consequences. If other companies call us, we are forced to say that the layoff was based on performance,” another employee, who was let go in the round told Moneycontrol.
