Cricket Sponsor BYJU’S: Troubles growing for ICC & BCCI sponsor Byju’s, ‘fires 2,500 employees’, CHECK DETAILS

Cricket Sponsor BYJU’S – ICC BCCI Sponsor Byju’s: The news may ring bells in the ears of International Cricket Council (ICC) and…

Cricket Sponsor BYJU’S – ICC BCCI Sponsor Byju’s: The news may ring bells in the ears of International Cricket Council (ICC) and the Board of Control for Cricket in India (BCCI). All’s not well at the end of their biggest sponsor Byju’s. The world’s most-valued edtech company is on cost-cutting spree and has fired more than 2,500 employess. It is worth noting that Byju Raveendran-led unicorn is Indian Cricket Jersey Sponsor: Follow Indian Cricket LIVE Updates, Sports Business Updates with InsideSport.IN

According to various reports, Byju’s has laid off 2,500 full-time and contractual employees from Toppr, WhiteHat Jr, and its core team. Most of them were employed across sales and marketing, operations, content and design teams.

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Cricket Sponsor BYJU’S: Troubles growing for ICC & BCCI sponsor Byju’s, ‘fires 2,500 employees’, CHECK DETAILS

ICC BCCI Sponsor Byju’s: The Byju Raveendran-led unicorn is looking to aggressively cut costs with demand for edtech services moderating after two consecutive years of hypergrowth.

It is worth noting that in last couple of years Byju’s has emerged as one of the biggest cricket sponsors.

  • Indian Team Jersey Sponsor: The company has recently extended their partnership with BCCI to sponsor Indian team Jersey. They will be paying $55MN to BCCI for partnership till 2023 World Cup in India.
  • ICC Global Partner: The edtech company is also the Global sponsor of ICC. According to information with InsideSport, deal is worth 120-130 Crores and will continue till 2023 World Cup in India.
  • FIFA Sponsorship 2022: Edtech giant also has sponsorship tie-up with the FIFA World Cup Qatar 2022. The company is reportedly paying $40MN for the deal
Cricket Sponsor BYJU’S: Troubles growing for ICC & BCCI sponsor Byju’s, ‘fires 2,500 employees’, CHECK DETAILS

Trouble in Byju’s WATERS? The sources in the company informed InsideSport that on June 27 and June 28, Byju’s laid off over 1,500 employees from Toppr and WhiteHat Jr.

The two companies were acquired over the last two years.

Again on June 29, it sent out e-mails to nearly 1,000 employees from its core operations teams and fired them.

The spokesperson denied any further layoffs and any layoffs at Byju’s core operations teams.

Byju’s is also yet to file results for the financial year ended in March 2021 (FY21). The reports are also doing the rounds that they have delayed payments on account of accquisition of Aakash.

Byju’s meanwhile had gone on record to say that the company will file its results before the end of this month.

Follow Indian Cricket LIVE Updates, Sports Business Updates with InsideSport.IN

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