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Edtech unicorn <keyword id="2900267" type="General" weightage="100" keywordseo="byju" source="Orion">BYJU</keyword>'s courted further controversy on Tuesday with its employees in Thiruvananthapuram claiming around 170 of them are being forced to resign from the company. The matter, raised on social media by <keyword id="7035516" type="General" weightage="50" keywordseo="technopark-today" source="Orion">Technopark Today</keyword>, an IT professionals community portal, was escalated by IT welfare organisation '<keyword id="3399247" type="General" weightage="50" keywordseo="prathidhwani" source="Orion">Prathidhwani</keyword>' to Kerala Labour Minister C. Sivankutty. Employees and Prathidhwani representatives also met the minister on Tuesday. Apart from ensuring that BYJU's does not force employees to resign, they demanded a revision of the company's exit policy for its employees. Along with ensuring payment of their October 2022 salary on November 1, employees are demanding a one-time settlement of three months' salary, earned leave encashment, and full-settlement of variable pay. According to the employees in Thiruvananthapuram numbering around 170, Byju's, with its office located in the <keyword id="6400701" type="General" weightage="50" keywordseo="technopark" source="Orion">Technopark</keyword>, is planning to wind up its operations in the state headquarters. Sivankutty, in a Facebook post, said: "The employees of BYJU's app from <keyword id="3595624" type="General" weightage="50" keywordseo="technopark-thiruvananthapuram" source="Orion">Technopark Thiruvananthapuram</keyword> had come to see me. The employees have many grievances, including job loss. The Labour Department will conduct a serious investigation in this regard." With losses of Rs 4,500 crore reported in FY21, BYJU's has been facing tough times in recent times. The company had recently announced cost-cutting measures including paring down manpower. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/netflix-is-emailing-users-details-about-how-to-make-it-easier-to-kick-free-loaders-off-your-account-as-it-cracks-down-on-password-sharing/articleshow/95086931.cms">Netflix is emailing users details about how to make it easier to kick free-loaders off your account, as it cracks down on password sharing</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-down-users-across-the-world-are-reportedly-not-able-to-send-and-receive-messages/articleshow/95075347.cms">WhatsApp down – users across the world are reportedly not able to send and receive messages</a> <a href="https://www.businessinsider.in/tech/news/the-fate-of-the-world-economy-may-depend-on-what-happens-to-a-company-most-americans-have-never-heard-of/articleshow/95030860.cms">The fate of the world economy may depend on what happens to a company most Americans have never heard of</a>

Fearing firing, BYJU's employees in Kerala approach state labour minister

Amid the brouhaha over alleged forced termination at edtech major <keyword id="2900267" type="General" weightage="100" keywordseo="byju" source="Orion">BYJU</keyword>'s, its founder and CEO Byju <keyword id="299516" type="General" weightage="80" keywordseo="raveendran" source="Orion">Raveendran</keyword> on Monday told employees that there is a huge price to pay for walking on the path to profitability and the company will part ways with 5 per cent or 2,500 employees to "avoid role duplication across our businesses". In a letter to employees seen by IANS, Raveendran said that bringing those who are parting ways "back by putting our company on a sustainable growth path will now be the number 1 priority for me". "I want to emphasise that the overall job cuts are not more than five per cent of our total strength," he said. Raveendran wrote that while nothing can really compensate for their loss, "we have made available the best possible exit package to you which includes extended medical insurance coverage for you and your family members, outplacement services led by some of the industry's finest recruitment specialists, fast-track full-and-final settlement, and a special provision to allow you to look for jobs while on our payroll". BYJU's recently announced to a reduction of 5 per cent of its 50,000-strong workforce (about 2,500 people), which will be "rationalised across product, content, media, and technology teams in a phased manner" in a bid to consolidate its India business. The Karnataka State IT/ITeS Employees Union (KITU) last week claimed that BYJU's, after <keyword id="6357416" type="General" weightage="50" keywordseo="thiruvananthapuram" source="Orion">Thiruvananthapuram</keyword> in Kerala, was forcing employees at its Bengaluru headquarters to resign. Raveendran said that some business decisions have to be taken to protect the health of the larger organisation, and pay heed to the constraints imposed by external macroeconomic conditions. "Over the past couple of weeks, you would have read or heard about our plans to rationalise our team size. Some of you, I understand, might be confused about this or maybe hearing conflicting statements," he said. He said that adverse macroeconomic factors have changed the business landscape, compelling tech companies around the world to focus on sustainability and capital-efficient growth. "BYJU'S is no exception to this trend. Our rapid organic and inorganic growth has created some inefficiencies, redundancies and duplication within our organisation, that we need to rationalise to realise this. At the same time, we need to continue to realign our resources towards innovation and future-growth oriented projects," said Raveendran. Around 140 employees from the 170-strong workforce at Technopark have been asked to leave. BYJU's has nearly 3,000 employees in Kerala. In an earlier statement, the company said it is "absolutely false" that BYJU's is forcing employees to resign. Raveendran said that "I am truly sorry to those who will have to leave BYJU's". "You are not just a name to me. You are not a number. You are not just five per cent of my company. You are five per cent of me," he told employees in the letter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/curated-menus-butler-services-expansive-lounges-at-mumbai-airports-renovated-private-jet-terminal/articleshow/95202285.cms">Curated menus, butler services, expansive lounges at Mumbai airport's renovated private jet terminal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/over-2-lakh-jobs-created-each-day-this-festive-season-says-report/articleshow/95204035.cms">Over 2 lakh jobs created each day this festive season, says report</a>

Overall job cuts no more than 5% to avoid role duplication: Byju Raveendran

Thiruvananthapuram, June 14 () IT Parks-Kerala has launched a survey to ascertain the demand and expectations of professionals and organisations as part of its #Move2Kerala campaign, which seeks to position the state as a major global digital hub in the post-COVID era. The online survey, available at https://bit.ly/2UB2Ezr. addresses the workforce and entrepreneurs and takes into account the growing trend of re-imagining the workspace that began before the upheaval triggered by the pandemic, with establishments recognizing the potential, including economic advantages, of remote working and work from home. "This survey seeks to gauge the interest and scope of co-working spaces in Kerala to facilitate an effective mix of work-near-home and work-from-home for professionals in various co-working spaces being planned by Technopark", M Sivasankar, Principal Secretary, Electronics and IT, said in a release. Earlier, Chief Minister Pinarayi Vijayan had assured seamless high-width Internet connection for IT sector employees working from home due to restrictions caused by the pandemic. He had also suggested that companies create "work-sharing benches" to pool their human resources. Catering to the demands of home-bound professionals and entrepreneurs, the state has plans to create a network of virtual and physical work-near-home co-working spaces. The IT sector of Kerala is all set to receive a big boost with the commissioning of Kerala Fibre Optic Network, K-Fon, by end of this year. "The Kerala model is already known across the world for being resilient against natural calamities and pandemics, and is considered one of the safest destinations. The working spaces being offered by Kerala are the most ideal and conducive as they lay great emphasis on environmental and sustainable parameters", Sasi Pilachery Meethal, CEO of IT Parks said. The demand for co-working space is set to go up substantially with a steep increase in the number of start- ups, especially in advanced sectors like space technology, robotics, Artificial Intelligence and data analytics, he said. IT Parks-Kerala comprises Technopark here, Infopark, Kochi and Cyberpark, Kozhikode. RRT APR RAVINDRANATH APR RAVINDRANATH

IT parks-Kerala launches survey to ascertain demand in post COVID-19 era

<ul><li>The Integrated <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">Startup</keyword> Complex is India’s biggest startup hub covering an area of 1.82 lakh sq ft. </li><li>Bengaluru currently holds the top position in the country, with the most number of deals. </li><li>The state plans to further expand the ecosystem to 5 lakh sq ft to make it Asia’s largest hub. </li></ul>Bengaluru has established itself as India’s silicon valley. Delhi NCR, Mumbai and Hyderabad too have offered a good breeding ground for India’s aspiring entrepreneurs. Now, there is a new contender - Kochi, a 900-year old trading centre both for seafarers and inland merchants. The <keyword id="71501" type="ORGANIZATION" weightage="20" keywordseo="Communist">communist</keyword> party of India that leads the ruling Left Democratic Front government has just <a href="https://www.businesstoday.in/top-story/cm-pinarayi-vijayan-inaugurates-india-largest-startup-ecosystem-in-kerala/story/309750.html">unveiled</a> one of the country’s biggest startup hub covering an area of 1.82 lakh sq ft in Kalamassery, an industrial area in Kochi, with plans to expand it to 5 lakh sq ft to make it Asia’s largest hub for <keyword id="6355118" type="UNKNOWN" weightage="20" keywordseo="technology">technology</keyword>. During the inauguration, the state’s Chief Minister Pinarayi Vijayan <a href="https://timesofindia.indiatimes.com/city/kochi/pinarayi-launches-incubation-centres/articleshow/67517626.cms">said</a> that the government wants to make <keyword id="28504" type="CITY" weightage="20" keywordseo="Kerala">Kerala</keyword> one of the world’s top IT destinations. This isn’t Kerala’s first attempt at building a startup ecosystem. Back in 2006, the state had established Technopark Technology Business Incubator in state capital Thiruvananthapuram. Then in 2012, Startup Village was set up in Kochi to boost student startups and innovation. Just three years later in 2015, Hyderabad, with a massive push from the Telangana Government, set up India’s largest incubator, until now, T-Hub. Now, The Integrated Startup Complex in Kochi, which will have firms from hardware to medical technology working on cancer diagnostics, promises to create 2.5 lakh IT jobs in the state. Currently, Kerala Startup Mission has over 232 IT startups and 52 hardware startups out of a total of 578 companies. The state has over 1,402 startups that received $38 million funding in <a href="https://keralastartupmission.files.wordpress.com/2018/11/kerala-startup-ecosystem-report-2018.pdf">2017-18</a>. In 2018, <a href="https://yourstory.com/2019/01/2018-india-startups-funding-roundup-unicorns/">India </a>saw a total of $12.68 billion raised in equity funding, $1.14 billion in debt funding through 864 deals. The Commie DNA Kerala famously had the world’s first elected communist government in 1957 under EMS Namboodiripad. It is the eighth-largest economy in the country among 29 states, yet industrial growth in Kerala has, for long, stunted by the state’s affinity for left-wing politics. It is one of the states that aggressively implements the <a href="https://www.thenewsminute.com/article/kerala-s-new-labour-policy-minimum-wages-increased-creches-be-established-81461">minimum wage laws</a> that has attracted workers from around the country to take up jobs across the value chain. State-wide shutdowns by trade unions and political outfits have been a regular feature in the southern state famous for its backwaters among tourists both local and international. Last year alone, the state witnessed 97 strikes. In 2017, Kerala ranked <a href="https://timesofindia.indiatimes.com/india/india-lost-11-73-lakh-man-days-to-strikes-in-2017/articleshow/62539692.cms">second</a> in having lost the most number of days due to hartals and thus, affecting the state’s GDP. According to the Cochin Chamber of Commerce, the hartals cost the state’s GDP <a href="https://thewire.in/labour/why-traders-in-kerala-have-declared-2019-the-anti-hartal-year">over $1 billion. </a> However, the latest push towards startups may be a big sentiment booster for an economy that has seen more <a href="https://timesofindia.indiatimes.com/business/india-business/govt-doing-utmost-to-arrest-brain-drain-in-statevijayan/articleshow/59795237.cms">brain drain</a> to other parts of the world than many other Indian states. See Also: <a href="https://www.businessinsider.in/the-indian-government-has-reportedly-invested-just-19-of-its-fund-dedicated-to-boosting-startups/articleshow/67323307.cms">The Indian government has reportedly invested just 19% of its fund dedicated to boosting startups</a> <a href="https://www.businessinsider.in/startup-founders-ready-plans-for-growth-job-creation-ahead-of-their-meeting-with-pm-modi/articleshow/60098744.cms">Startup founders ready plans for growth, job creation ahead of their meeting with PM Modi</a> <a href="https://www.businessinsider.in/more-indians-have-left-the-country-as-its-economy-has-grown-report/articleshow/66732249.cms">More Indians have left the country as its economy has grown: Report</a>

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Fearing firing, BYJU's employees in Kerala approach state labour minister

IANS

Overall job cuts no more than 5% to avoid role duplication: Byju Raveendran

IANS

IT parks-Kerala launches survey to ascertain demand in post COVID-19 era

PTI

An Indian state led by a communist party has built the country’s biggest home for technology startups

Sanchita Dash

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