Amid massive job cuts, BYJU's names Messi an ambassador for equal education
BYJU's, a leading EdTech company, has named football star Lionel Messi as the first global brand ambassador of its social impact arm Education For All, the company said on Friday. Under the programme, Messi will promote equitable education, BYJU'S said in a statement. Messi currently plays for Paris Saint-Germain and is captain of the Argentinian football team.
"We are honoured and excited to collaborate with Lionel Messi as our global ambassador. He rose from the grassroots to become one of the most successful sports persons ever. That is the kind of opportunity that BYJU'S Education For All (EFA) wants to create for the nearly 5.5 million children it currently empowers. No one represents the power of enhancing human potential more than Lionel Messi," BYJU'S co-founder Divya Gokulnath said.
Amid bulk job cuts, BYJU's has been spending huge amounts on sponsorship deals and endorsements. Earlier this year, BYJU'S became the official sponsor of the FIFA World Cup 2022 in Qatar. It also extended its deal with the BCCI for the next 18 months for the prime spot on front of Team India's jersey. The extension reportedly cost the company around $55 million.
BYJU's was going to lay off 140 employees and shut its operations in Thiruvananthapuram, Kerala, but decided to reverse the decision after meeting Kerala Chief Minister Pinarayi Vijayan. The employees had met Kerala Labor Minister V Sivankutty and asked him to get involved in the matter.
Chief executive officer (CEO), Byju Raveendran, had earlier announced that the company is cutting its workforce of 50,000 by five per cent, that is 2,500 employees, by March next year to lower costs. In May, the online learning platform had reported a loss of 45.64 billion rupees ($554.77 million) for fiscal 2021 due to higher promotion and employee expenses.
The latest deal between BYJU's and Messi will increase the brand's visibility firm overseas as football has roughly 3.5 billion fans worldwide. Besides, Messi has a social media following of nearly 450 million.