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BYJU’s releases full payment of 25 pc employees, partial payment to others, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p>According to sources, 25 per cent of employees in the lower pay scale will get full payment</p>
According to sources, 25 per cent of employees in the lower pay scale will get full payment

New Delhi: Edtech major Think and Learn, which owns BYJU’s brand, has released the full salary of 25 per cent of employees in the lower pay scale while it has made partial payment to the rest of the workforce, according to sources. BYJU’s management wrote two sets of letters to employees on Sunday, informing them about salary payment through alternate fund arrangements and mentioning financial constraints the company is facing due to the blocking of funds by a select group of investors.

“We processed your salary for February late at night on Friday. However, due to yesterday being a second Saturday and on account of the long weekend, we expect the salaries to be reflected in your accounts on Monday. We sincerely apologise for any inconvenience caused by this delay and are grateful for your understanding,” BYJU’s management said to employees whose full salary has been released.

According to sources, 25 per cent of employees in the lower pay scale will get full payment.

“As you know, a group of investors has blocked the funds raised through the rights issue, rendering them temporarily unavailable for our business purposes. This situation has created an immediate financial constraint for the company. However, we assure you that we are actively working to resolve this matter and restore normalcy,” the company said.

A group of four…


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