Key Points
Embattled edtech firm Byju's is undergoing a cost-cutting initiative and restructuring drive that includes downsizing some of its smaller assets across the country...
To achieve this, the company has identified multiple offices and tuition centers ranging between 500 and 1,000 sq ft across 17 cities...
As part of its real estate restructuring, the firm has identified assets that overlap with its Aakash centres...
The firm has downsized its operation in the IBC Knowledge Park to 1, 50,000 sq ft and is in talks to give away a portion of it, as the leadership team sits out of this location, said one of the landlords aware of the exit..
It has also entered into a tussle with Kalyani Developers, which has sent a legal notice to Byjus for defaulting on rental payments for a 500,000 sq ft office space at Kalyani Tech Park, Bengaluru..
