After Udaan, BYJU’S owned edtech startup WhiteHat Jr lays off 300 employees

New Delhi: WhiteHat Jr, which is owned by BYJU, has laid off roughly 300 staff in its latest cost-cutting move. The startup began the layoff process last week, and his team has been reduced across multiple verticals, including sales, marketing, and operations. 

80 people worked in the company's office in Brazil, where Byju's launched its 'Future School' programme in April. In August 2020, Byju's paid $300 million for WhiteHat Jr, a company that teaches coding to youngsters.

According to a report, the company said the terminated employees were given a month's salary as part of their severance package.

According to regulatory filings with the Ministry of Corporate Affairs, WhiteHat Jr reported a total loss of Rs 1,690 crore in FY21.

For the fiscal year, the company's revenue from operations was Rs 483.9 crore, while its expenses were Rs 2,175.2 crore.

The layoffs at WhiteHat Jr come as global macroeconomic factors continue to have an impact on financing opportunities for Indian businesses. Unacademy Group, Lido Learning, Vedantu, and other edtech startups have laid off employees in recent months to increase their runway.

Meanwhile, Udaan, a business-to-business (B2B) marketplace has laid off 180 to 200 staff members, or around 4-5 percent of its total workforce today. There are about 4,000 people working for the company. The layoff is part of an attempt to increase efficiency.