Days after laying off 2,500 workers, Byju’s revealed that company has signed Lionel Messi, one of the highest-paid football players in the world, as its global brand ambassador.
While the news delighted Messi’s supporters, it also prompted harsh criticism of the most valuable edtech business in the world. Byju’s founder and CEO Byju Raveendran said in a message to staff last week that the company had to fire around 5% of its workforce in order to minimise role duplication and decrease redundancies as it focuses on profitability.
“We are working hard towards achieving profitability at the group level in this financial year itself,” he wrote. “Our rapid organic and inorganic growth has created some inefficiencies, redundancies and duplication within our organization, that we need to rationalize to realize this.” And in doing so, the company is laying off 2,500 employees or 5 percent of the staff strength.
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The edtech company said earlier this week that football star Lionel Messi had been appointed as its global brand ambassador for its “Education for All” social initiative.
Although the monetary endorsements of this relationship could not be readily determined, the announcement did not go down well on social media. People questioned how Byju’s could afford to sign on one of the highest-paid athlete in the world but had to fired employees to cut costs, and the backlash against the corporation was fast and unforgiving:
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