SUMMARY
Richard Lobo has joined the beleaguered edtech decacorn after a 23-year career at Infosys, from where he resigned last month
BYJU’S said Lobo will actively guide BYJU’S management on organisational changes and transformation to create an outstanding workplace for its employees
The appointment comes at a time when BYJU’S is fighting multiple battles and has fired over 4,000 employees since last year
Edtech giant BYJU’S has appointed former Infosys executive VP and HR head Richard Lobo as an exclusive advisor to help transform its HR function.
Lobo has joined the beleaguered edtech decacorn after a 23-year career at Infosys, from where he resigned earlier this month.
The strategic move underscores BYJU’S commitment to fortify its employee-centric culture, the startup said in a statement on Monday (August 14).
It is pertinent to note that BYJU’S, which is fighting multiple battles pertaining to corporate governance, delay in publishing financial statements, funding crunch, layoffs, among others, has also faced allegations from employees about its work environment.
In one of the most recent incidents, a video went viral last month in which a woman accused the edtech major of defrauding employees and customers.
In its latest statement, BYJU’S said Lobo will actively guide BYJU’S management on organisational changes and transformation to create an outstanding workplace for its employees.
“His (Lobo’s) extensive experience and leadership in HR will be instrumental in further enriching our work culture and ensuring that the welfare of our team members remains at the core of every decision we take. BYJU’S has been built by its people; it is an ecosystem where talent can thrive and grow,” said Byju Raveendran, founder and CEO, and cofounder Divya Gokulnath.
“Having Richard on board reassures us that BYJU’S will evolve into a best-in-class global workplace, where merit and growth flourish hand in hand,” they added.
Lobo started his career with the Godrej group and joined Infosys in 2000. He is credited for bringing technology and analytics to the HR function as Infosys became a global leader in technology and consulting.
“I look forward to working with the leadership to scale global organisational design, innovate people practices, and help strengthen the foundation of the enterprise to support its next phase of growth as a global market leader,” Lobo said on his appointment.
It must be noted that after the high-profile exits of multiple board members in June this year over the ongoing problem around its $1.2 Bn Term B loan (TLB) re-payment to its creditors, BYJU’S appointed ace investor TV Mohandas Pai and former SBI Chairperson Rajnish Kumar as members of its advisory council.
Prior to that, BYJU’S also hired former upGrad CEO Arjun Mohan as the CEO of its international business.
Adding to its existing problems, recent reports suggest that BYJU’S might have to pay an additional $50 Mn-$60 Mn annually in interest on its TLB as part of new terms with lenders.
Amid the financial challenges, BYJU’S laid off over 1,000 employees in a new round of layoff exercise in June. As per Inc42’s layoff tracker, the company has fired over 4,000 employees so far since 2022.
