Suniel Shetty Indirectly Responded To Byju’s Decision To Fire 2,500 Employees

Suniel Shetty, an actor and businessman, just joined LinkedIn and wrote an extensive essay detailing his achievements. Shetty has been in the entertainment industry for 30 years, appearing in more than 130 movies, but he has also always been an entrepreneur.

He was born in Mangalore and began working there at the age of 16 with his father. He carried this work ethic with him as he built hospitality companies and ventured into real estate and content creation. Although he is most known for his films, he has, over the years, invested in and coached a number of intriguing companies.

Suniel Shetty voiced his viewpoint over Edtech company Byju’s decision to fire 2500 employees

Buju’s is planning to fire in the next six months from various departments in an effort to turn a profit by March 2023.

On LinkedIn, the actor expressed his desire for people to believe that the company’s choice was not made lightly

He also wished for the earliest possible return to work for the fired employees.

Without naming the company, Suniel Shetty wrote,

“A recent article about a company laying off 2500 of its employees, was a tough one to swallow. Times 4, that’s 10000 lives affected. I’d like to think that this wasn’t an easy decision to make. Praying that the impacted ones are able to get back on their feet at the earliest.”

He added,

“While valuations and fundraising activity saw a sharp rise over the last few years, it is now clear that of late the global sentiment has turned somewhat conservative.”

The actor and businessman continued by saying that he still believes in the “India story.” Regarding the global economic slowdown, he asserted that India could or might not be affected by its severity to the same degree as some of the other big economies. He said,

“I continue to believe in the India story. Among other factors, our population and its aspirations still present good businesses with a huge opportunity to continue their growth, even if it’s at a slower rate than earlier.”

He also added that now is a good moment for early-stage, small, and mid-size enterprises to create a few operational tenets until the mood starts to turn around. These include adopting a survival attitude, delaying plans for growth, and prioritising consumers.

He continued by advising “Plan for the worst” in his post because no one knew how awful the world economy would go. He wrote,

“If you’re not seeing growth, switch to a survival mindset. Even if it means just hitting salaries & basic profits. The opportunities will return if you stay alive. Find your course – it’s easy to be pressured into a direction based on what we see around us. Identify a pace that suits your story. Don’t be in a rush to scale.”

The actor delivered a mantra of inspiration as he wrapped up his article by using the former Indian cricketer Rahul Dravid as an example. He wrote,

“Think long-term. Think sprint vs marathon. Think Rahul Dravid. Stable & slow is just as great.”

Read the complete Linkedin post below

As we all know, the world’s most valuable ed-tech startup, Byju, has been facing a severe financial crunch, and the decision to fire 2,500 employees in the next six months is part of a strategy to make the company profitable again through the next year.

According to Divya Gokulnath, a co-founder of Byju, the firm will begin concentrating on establishing its brand recognition abroad through new collaborations and by employing 10,000 teachers for both its Indian and international operations.