valuation
| March 12, 2024, 7:04 a.m.
Byju's Shifts to Remote Work as Offices Vacated Amid Financial Crisis
Edtech giant Byju's has instructed its 14,000 employees to work from home as it vacates all its offices across the country, except for its headquarters in Bengaluru. The move comes as Byju's grapples with financial difficulties, including cash-flow problems and a dispute with creditors over a $1.2 billion loan. The company's valuation has reportedly plummeted by 90 percent over the past year, and it has faced challenges such as the removal of its CEO Byju Raveendran and issues with corporate governance. Byju's tuition centers, however, will continue to operate despite the office closures.
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