Tuesday, July 23, 2024

Byju’s Tuition Centres Enters in 3rd Successful Year, Denies Closure Reports

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Byju’s, the embattled edtech giant, reaffirmed on Friday the successful operation of its tuition centres for the third consecutive year, with 262 offline locations currently operational nationwide. Dismissing recent reports of imminent closures, the company clarified that there are no plans to shut down 200 tuition centres as part of a cost-cutting initiative.

In response to speculation, a Byju’s spokesperson stated that while the company is striving for operational efficiency, there is no planned reduction in the number of tuition centres. Instead, Byju’s has identified opportunities for improvement and strategic restructuring for a small percentage of centres to better align with its long-term vision.

The spokesperson emphasized Byju’s commitment to providing quality education through a hybrid learning model, which integrates the best aspects of offline and online learning. Nearly all of Byju’s tuition centres, comprising 262 out of 292, will continue to operate in this hybrid model, leveraging the latest technology to enhance learning outcomes.

Despite recent challenges, including the transition to remote work for employees and the expiration of office leases nationwide, Byju’s remains steadfast in its mission to deliver education excellence. The company has opted to retain only its Bengaluru-based headquarters as it relinquishes other office spaces.

Additionally, Byju’s is addressing financial constraints, including delays in salary disbursement for February, attributed to funds being tied up amid an ongoing case with key investors in the National Company Law Tribunal (NCLT).

As Byju’s navigates through these challenges, it remains focused on innovation, efficiency, and delivering high-quality education to students across India. The company’s commitment to hybrid learning and strategic restructuring underscores its determination to adapt and thrive in a rapidly evolving educational landscape.

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