Byju's shuts 30 tuition centres, 262 to run on hybrid model as part of cost cutting move

Edtech firm Think and Learn, BYJU's parent firm, has shut 30 out of its 292 tuition centres. 

BYJU's has shut down the centres as part of cost optimisation measures and aims to turn most of the centres profitable in the third year of their operations, the edtech firm said. 

"BYJU'S is immensely proud of the dedication of its teachers and the performance of its students. BYJU'S focus on quality with efficiency is helping most of its centres turn profitable in their third year. "Ninety per cent of its tuition centres, i.e. 262 out of 292, will continue to function in this novel hybrid model, integrating the best and the latest technology in the coming years," the company said in a statement. 

BYJU's said that as the company 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. "Most of our current students have already signed up for the next academic year (2024-25) and BYJU'S thanks both the students and parents for their trust, confidence and support," the company said. 

The embattled edtech firm has called the extraordinary general meeting (EGM) on March 29, to increase authorized share capital of the company following the recent $200 million rights issue.