Why is Byju’s delaying the salaries of laid off workers?

why is byju's delaying the salaries of laid off workers

why is byju’s delaying the salaries of laid off workers

Last updated on September 20th, 2023 at 12:47 pm

Byju’s, a comprehensive e-learning and educational technology company, has been delaying the salaries of laid-off employees. The Indian multinational educational technology company, headquartered in Bangalore, fired about 1,000 workers in June. However, the company did not give them salaries. 

The laid off workers have been waiting for months to receive their salaries. Why is Byju’s delaying the salaries of laid off workers? What is the reason? 

Laid-off workers are not receiving salaries

Edtech firm Byju’s fired 1,000 employees in June. The layoffs affected a few departments and some third party staffers. The company took the final decision as part of its cost cutting measures.

The ed-tech company has been delaying the full and final settlement for laid off employees. One of the fired employees revealed that laid off workers were waiting to receive the final payments by September. However, the company delayed their salaries by another two months.

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When will the laid-off workers receive their salaries?

The laid off workers will receive their salaries by November. The company sent a letter to fired employees, saying that Byju’s would settle dues by the end of November. 

The company also agreed to give laid off employees dearness, traveling allowances and variable pay. A Byju’s spokesperson reportedly said, “We regret the delays in settling dues of former employees. As we work through a difficult business restructuring, we are committed to meeting our obligations as soon as possible.”

Byju’s layoffs

Byju’s has been laying off employees in recent months. Last year in October, Byju’s laid off 2,500 employees. In June, Byju’s fired 1000 employees.

Last month, Byju’s laid off 400 workers from the mentoring and product expert division. Employees placed under the performance review section were asked to resign from their post. 

According to an ET report, Byju’s will lay off more workers in the future. The employees who are working on a contractual basis in the on-ground sales teams will be laid off.

About Right Sider

AvatarRight sider is a passionate writer who has traveled extensively around the world, learning about the history of all the regions and walking the paths of his characters.

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