Indian education firm Byju’s is planning to reduce its workforce by approximately 5,500 employees in a move to cut costs and restructure its business. The decision comes as part of an effort to merge various business verticals under the leadership of Arjun Mohan, the CEO of Byju’s India business. The restructuring plan is expected to be implemented in the next few weeks. The job cuts will be confined to Byju’s parent company, Think & Learn, and will primarily affect senior positions. Byju’s aims to attract more students to its offline centers as a strategic approach to maintaining long-term operational sustainability. The firm, which was valued at $22 billion last year, has faced several setbacks including the resignation of its auditor and board members, as well as ongoing negotiations for the repayment of a $1.2 billion loan. Byju’s has not responded to requests for comment at this time.