Edtech major Byju’s has chalked out a plan to become profitable by March 2023 to optimise its marketing and operational cost, which will lead to the retrenchment of 5 per cent of employees or about 2,500 people in the next six months.

Byju’s co-founder Divya Gokulnath said the company will start focussing on building brand awareness overseas through new partnerships and hiring 10,000 teachers for India and overseas business.

“We have designed a path to profitability which we plan to achieve by March 2023. We have built significant brand awareness throughout India and there is scope to optimise the marketing budget and prioritise the spending in a way that creates a global footprint. Second is operational cost and the third is the integration of multiple business units,” Gokulnath said.

She said that the K10 subsidiaries — Meritnation, TutorVista, Scholar, and HashLearn — will now be consolidated as one business unit under the India business.

Aakash and Great Learning will continue to function as separate organisations.

“This (the new plan) will help us enhance efficiency, and avoid redundancy. So there will be rationalisation of roles as well. Our hybrid teaching model which is the tuition centre and our online teaching model which is Byju’s Classes or our learning app is scaling very well. Especially for our first two products, we plan to hire 10,000 teachers. Our revenues will be on track as per what we are doing,” Gokulnath said.

She said that to avoid redundancies and duplication of roles around 5 per cent of Byju’s 50,000 workforce is expected to be rationalised across product, content, media, and technology teams.