Amid a financial crunch, troubled edtech giant Byju's has opted to close all its offices nationwide, except its Bengaluru headquarters, mandating indefinite work from home for its employees, except those at tuition centers. The move, attributed to an impending liquidity crisis, aligns with CEO Arjun Mohan's restructuring strategy, ongoing for six months.
Byju's also disbursed part of February's pending salaries and vows to clear the remainder post utilizing funds from a $200 million rights issue. Challenges include investor disputes, layoffs, and regulatory non-compliance for FY23 financials.