Due to the ongoing crisis, the edtech company Byju’s has asked its 14,000 workers to work from home and has closed all of its offices save for its Bengaluru headquarters.
With the exception of IBC Knowledge Park in Bengaluru, where more than 1,000 employees are employed, sources told a TV news channel that the edtech behemoth has vacated all other office buildings in the nation.

As a cost-cutting measure, the company did not renew several of its contracts for offices across cities, which resulted in the ongoing process over the past few months, according to NDTV Profit.

Nonetheless, the report stated that about 300 of Byju’s tuition centers—physical locations where pupils in classes 6–10 study—will remain open.

In addition to having cash flow issues, Byju’s is in conflict with creditors regarding a $1.2 billion loan. In the last year, Byju’s valuation has dropped by an estimated 90% from its peak valuation of over $20 billion.

Major Byju Raveendran supporters voted last month to deprive Byju of his chief executive officer (CEO) position.

After a string of crises, including the resignation of Deloitte’s auditor due to concerns about corporate governance and the legal battle with US lenders, Byju Raveendran has lost the backing of important investors. In a letter to the employees sent last month, Raveendran stated that the company’s funding was still being withheld by the investors, making it impossible for it to process the February salaries.