New Delhi: Embattled edtech company Byju’s said on Tuesday that it has started batches for the 2024-25 academic session at 240 out of its 296 tuition centres, as it struggles to pay salaries to its employees.
Byju’s tuition centres provide classroom-based programmes for K-12 students.
For the current academic year, the company said it has dropped the annual fees to Rs 36,000.
The edtech company said that it has also seen an inbound interest in the role of teachers, receiving nearly 1,200 applications per day over the last two months.
On May 19, Byju Raveendran, Founder and CEO of the company, addressed the tuition centre heads, saying, “I want you to see yourselves as part-owners of these centres, not just managers.”
Under this model, the heads will receive a share of profits from their centre’s operations, provided they meet the minimum thresholds for admissions and quality over one year.
“We have invested crores of rupees in each centre. And you get to part-own it, free of cost. There is a floor we have prepared for you. But there is no ceiling. How much you want to grow is up to you,” Raveendran told them.
The 240 hybrid learning centres of Byju’s, along with over 300 centres of Aakash, make it one of the largest networks of learning centres across the country.
Earlier this month, Raveendran told the staff not to sell courses but to counsel parents.
Facing a severe liquidity crisis, the company managed to pay full salary for April to employees, except sales staff. It is yet to pay the remaining part of the salaries for February and March.
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