SUMMARY
- Aakash Educational Services laid off 80-100 employees amid a strategic shift.
- The layoffs align with Aakash 2.0, aiming to create new roles and business models.
- Despite layoffs, Aakash expects to be a net hirer by the end of the year.
Aakash Educational Services Limited (AESL), owned by Byju’s, has reportedly laid off 80 to 100 employees over the past few months as part of a strategic shift in business operations. According to sources, the layoffs impacted senior and middle-level executives, including several long-term employees who had been with the company for more than four years.
The layoffs come as AESL focuses on its “Aakash 2.0” strategy, which aims to introduce new business models, consolidate existing roles, and create new opportunities. In an official statement, an AESL spokesperson emphasized that the company’s talent management follows a biannual review cycle, and despite the layoffs, Aakash expects to be a net hirer by the end of the year.
This is the first reported instance of layoffs at Aakash since its acquisition by Byju’s in April 2021 for approximately $940 million. However, the founding Chaudhry family declined to swap their remaining shares due to governance concerns. Earlier this year, Aakash appointed Deepak Mehrotra as its Managing Director and CEO, reflecting a further shift in leadership and strategic direction. The company is anticipated to surpass Rs 2,300 crore in operating revenue for FY23, though audited financials for FY23 and FY24 are yet to be filed.
Source:- Entrackr
