Challenges for BYJU’S: | Image:Byju Raveendran
Partial closure of tution centres: Edtech firm Think and Learn, which owns BYJU’S brand, has shut down 30 out of its 292 tuition centres, as per an official statement.
BYJU’s has shut down the centres as part of cost optimisation measures and the firm is eyeing to turn most of the centres profitable in a year, which marks the third year of its operations, the edtech firm said.
“BYJU’S focus on quality with efficiency is helping most of its centres turn profitable in their third year,” said the company statement.
Company clarity on centres
The company statement added that a few recent reports have falsely suggested the closure of many BYJU’S Tuition Centres (BTCs), adding that these reports were contrary to the company’s operational strategy.
“The news item, disseminated by an online press journal, was incorrect and there is no such reduction planned,” said the statement, adding that contrary to these claims, nearly all BTCs continue to operate. “BYJU’S Tuition Centres are entering their third successful year of full capacity operations and exceptional academic results,” said the BYJU’s statement.
BUJU’s said 90 per cent of its tuition centres, 262 out of 292, will continue to function in a hybrid model, integrating the best and the latest technology in the coming years, the Edtech firm added.
“As BYJU’S strives for operational efficiency, it has identified opportunities for improvement for a small percentage of BTCs, which will undergo strategic restructuring to align with BYJU’S long-term vision,” the statement further added.
(With PTI inputs)
