A recent report stated that BYJU'S plans to lay off around 1,000 employees in order to reduce expenses. The sales and marketing teams at BYJU'S are expected to be the most affected by this decision, reported The Morning Context. 

According to the report, companies like Channelplay and Randstad employ marketing executives on a third-party basis.

Following the recent occurrence of BYJU'S failing to make a quarterly interest payment of approximately $40 million on a $1.2 billion term loan B (TLB), the company's latest decision to take action is imminent.

Business Today reported that BYJU'S has taken legal action against investment management firm Redwood. The company aims to contest the acceleration of a $1.2 billion term loan B facility and seeks to disqualify Redwood as the lender due to what BYJU'S describes as "predatory tactics."

In the New York Supreme Court, BYJU'S filed a lawsuit stating that Redwood had acquired a substantial portion of the loan despite primarily engaging in distressed debt trading, which goes against the terms of the term loan facility.

In a statement, BYJU'S announced that it has sent a notice to Redwood entities, informing them of their disqualification as a lender with important rights under the term loan regulations. This disqualification will take effect once the notice is implemented. 

"We had to take these measures following a series of predatory tactics by the lenders, led by Redwood," the startup said.

BYJU's announced in October 2022 that it would eliminate 2,500 employees by March 2023.