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Byju’s puts on hold campus placement

Livemint

Livemint · 1y ago

Byju’s puts on hold campus placement

Edtech firm Byju's has decided to opt out of campus placements this year as part of its cost-cutting measures. The company has been undergoing restructuring for the past 12 months, resulting in over 13,000 layoffs. They are unlikely to hire from any campus this year and the restructuring process is expected to take 6-7 months to complete. Byju's had already skipped hiring from top engineering colleges last year and it is uncertain if students would be willing to sit for placements even if confirmed.

Related News

TCS puts April salary hikes on hold, cites economic uncertainty, tariff concerns

Business Today

Business Today · 4m ago

TCS puts April salary hikes on hold, cites economic uncertainty, tariff concerns

Tata Consultancy Services (TCS) delayed its annual salary hike, initially planned for April, due to macroeconomic uncertainties and concerns over the US tariff environment. Despite the hold on wage increases, TCS will maintain quarterly variable payouts, with 70% of employees receiving full eligible variable pay, while others will see payouts based on business performance. In its Q4 results, TCS reported a 2% profit decline to Rs 12,224 crore and announced a Rs 30 dividend.

SEBI puts SK Finance's Rs 2,200 Cr IPO in abeyance

YourStory

YourStory · 1y ago

SEBI puts SK Finance's Rs 2,200 Cr IPO in abeyance

The Securities and Exchange Board of India (SEBI) has put on hold the initial public offering (IPO) of non-bank lender SK Finance, which specializes in vehicle finance and business loans. SEBI did not provide a reason for the decision. The IPO consisted of a fresh issue of equity shares worth INR 500 crore ($67.5 million) and an offer for sale (OFS) of up to INR 1,700 crore by promoters and investor shareholders. SK Finance planned to utilize the proceeds for onward lending and general corporate purposes. The company operates in the vehicle financing and Micro, Small and Medium Enterprises (MSME) financing segments.

In a messy spot, Byju's puts footballer Lionel Messi deal on hold

Economic Times

Economic Times · 1y ago

In a messy spot, Byju's puts footballer Lionel Messi deal on hold

Edtech company Byju's has put its three-year deal with footballer Lionel Messi on hold, just a year after signing the contract. The deal was for Messi to be the global brand ambassador for Byju's "education for all" campaign. Byju's reportedly paid Messi for the first year, but it is unclear whether the deal will be terminated or revived in the future due to the company's liquidity crisis. Byju's also did not renew its endorsement contract with actor Shah Rukh Khan.

BYJU’S defers offer letters of incoming employees amid growing troubles

Business Today

Business Today · 2y ago

BYJU’S defers offer letters of incoming employees amid growing troubles

Edtech giant BYJU'S has deferred the offer letters of incoming employees due to mounting challenges. The company, facing issues related to delayed regulatory approvals and operational disruptions, has put the hiring process on hold temporarily. The decision reflects the difficulties faced by BYJU'S in adapting to changing market dynamics and maintaining its growth trajectory amid a challenging business environment.

Tech Mahindra's On-Campus Placement Terms Raise Eyebrows NIT as Jalandhar Student's Tweet Sparks Controversy

Business Bytes

Business Bytes · 1y ago

Tech Mahindra's On-Campus Placement Terms Raise Eyebrows NIT as Jalandhar Student's Tweet Sparks Controversy

Tech Mahindra's on-campus placement terms have come under scrutiny after a tweet by an NIT Jalandhar student exposed some controversial clauses in the job offer. The tweet revealed that Tech Mahindra proposed an annual salary of Rs 3.25 lakh for standard hires and Rs 5.5 lakh for those passing the "supercoder" selection process. However, it also highlighted conditions such as willingness to work any shift, any day and signing an indemnity bond of Rs 1 lakh for a mandatory two-year service period. This has sparked discussions about work-life balance and fair employment practices in the tech industry.

Byju’s lenders dismiss one-on-one talks as they demand for group discussion

Money Control

Money Control · 2y ago

Byju’s lenders dismiss one-on-one talks as they demand for group discussion

A source close to the company, however, said that Byju's has already begun one-on-one calls with lenders. Byju's has held discussions with at least five lenders already, and plans to hold discussions with the rest over the course of the week, the source said

Byju’s investors file caveats in SC

Thehindubusinessline

Thehindubusinessline · 1y ago

Byju’s investors file caveats in SC

Investors of Byju's, the edtech company, have filed a plea with the Supreme Court to be heard before the court decides on a potential plea against a National Company Law Tribunal (NCLT) order. The investors, including General Atlantic and Sofina, have lodged separate caveats at the top court. This comes after the NCLT directed Byju's to hold the proceeds from a rights issue in a separate account until the disposal of an oppression and mismanagement plea by investors. Byju's has faced several legal challenges recently, including insolvency petitions from US lenders and the Board of Control for Cricket in India.

Navi, robotics firm Addverb among startups vying for talent at B-schools

Livemint

Livemint · 1y ago

Navi, robotics firm Addverb among startups vying for talent at B-schools

Several startups, including Navi, BlueStone, Addverb, and Erekrut, are recruiting talent from campus placements at business schools, despite a slowdown in private equity and venture capital funding. Financial technology, human resources technology, robotics, and software-as-a-service companies are hiring candidates with competitive compensation. While top-tier management institutes have mostly placed their students, other schools have reached out to startups to complete their placement drives. Startups are offering niche profiles and attractive salaries, ranging from ₹15 lakh to ₹35 lakh on average for management trainees. The number of startups visiting B-schools has decreased this year, prompting colleges to actively seek out these companies for placements.

Byju’s puts Epic, Great Learning on sale for $800 million to $1 billion

Economic Times

Economic Times · 1y ago

Byju’s puts Epic, Great Learning on sale for $800 million to $1 billion

Indian edtech firm Byju's is looking to sell two of its assets, Epic and Great Learning, in an effort to raise $800 million to $1 billion in cash. This move aims to help Byju's meet its commitment to clear a $1.2 billion term loan B. Byju's is also in talks to secure fresh equity capital. If the sales go through, it will provide the company with financial flexibility in negotiations with creditors and promoters of Aakash Institute.

Blinkit parent Eternal's board clears plan to cap foreign ownership at 49.5%

Economic Times

Economic Times · 4m ago

Blinkit parent Eternal's board clears plan to cap foreign ownership at 49.5%

Eternal, parent of Blinkit, has capped foreign ownership at 49.5% to enhance operational flexibility by allowing Blinkit to hold inventory, per India’s foreign investment rules. This change aims to qualify Eternal as an Indian-Owned-and-Controlled Company, improving margins in specific categories by owning inventory. As of March 31, domestic ownership was 55%. Previously, Eternal raised Rs 8,500 crore through a qualified institutional placement, increasing Indian shareholding.

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