Byju Raveendran, the founder of edtech major Byju's, on Thursday allayed employee fears by projecting a positive outlook. At a town hall meeting organized by the Bengaluru-based firm, Raveendran reassured the employees that the company had amicably ended their association with Deloitte, and the board of directors and that they are working diligently to resolve the bondholder issue at the earliest.
While he did not say anything about the layoffs, or the delays in remitting provident fund amounts and realigning certain loss-making businesses within the group during the town hall, in an email addressed to all his employees on Thursday evening he said, "My heart goes out to each and every team member who is facing the difficult reality of downsizing, a decision that was made as a last resort and with a heavy heart adding that the company "will grow more sustainably going forward".
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