Aakash Educational Services Limited (AESL), owned by Byju, offers test preparation services for students preparing for medical and engineering admission exams, as well as school and board exams and competitions.
Aakash Educational Services Limited (AESL), owned by Byju, has laid off 80 to 100 staff in recent months, according to people familiar with the case.
Several long-term employees, some with over 4 years of service, were laid go in recent weeks.
A representative for AESL said: "We are introducing new business models as part of the Aakash 2.0 strategy, which includes creating new roles, consolidating existing ones, and aggressively hiring new talent."
Aakash has seen layoffs for the first time after its takeover by Byju's in April 2021. Byju's spent approximately $940 million to acquire the company.
Both companies withdrew their merger petition earlier this year, and are now operating independently under the Think and Learn name.
In April, Aakash appointed Deepak Mehrotra as managing director and CEO.
According to the valuation estimate, the company is expected to generate over Rs 2,300 crore in operating revenue in FY23. However, audited financial accounts for FY23 and FY24 have not yet been filed.