Byju's brand, facing financial crisis, has closed 30 of its 292 tuition centres. Think and Learn Limited, the company that owns this brand, gave this information in a statement on Friday. The company said that to reduce expenses, a decision has been taken to close these tuition centres across the country. However, its remaining 262 tuition centres will continue to work on hybrid model as before.
Byju brand said in its statement that it is proud of the hard work of its teachers and the performance of its students. It is focusing on quality in teaching, which is helping most of its centres become profitable in the third year.
Problems came after Corona
Let us tell you that during the Corona period, Byju Company had expanded rapidly across the country. At that time, due to Corona, schools were closed across the country and students had no other option except the internet to study. Then Byju developed the model of online education and expanded it across the country.
Problems faced in paying staff salaries
As soon as Corona started ending in the country. Schools and colleges started functioning again. Along with this, the craze for online studies also gradually decreased. Due to which Byju company is in trouble. The company is facing shortage of funds to pay salaries to the teachers and other staff teaching in these tuition centres.
Parents are also facing problems
In such a situation, the company has adopted the path of closing some tuition centres to reduce costs. The closure of these centres has increased the problems of those parents who had got their children admitted in them.