Beleaguered ed-tech firm Byju's asked 400 of its employees to voluntarily resign.

According to a Moneycontrol report, the company had placed over 400 employees belonging to the mentoring and product expert division under performance review. Quoting multiple sources, the news outlet said those placed under performance review were asked to leave, on Thursday.

Byju's, however, said only 100 employees were let go.

The company said 100 employees who did not meet expectations were let go as part of a periodical performance review and sought to clarify that this was not a cost-cutting measure.

Employees who were voluntarily asked to resign were offered two months' salary as part of the final settlement.

The employees reportedly told the news outlet that the HR told them that those refusing to resign will be terminated.