Embattled edtech company Byju’s on Sunday announced that it has disbursed a portion of the pending salaries for over 20,000 employees for the month of February. Byju’s Manages To Pay Some Portion of Salaries for 20,000 Employees.
This comes two days after Moneycontrol reported that the company had delayed salaries for the month of January amid a worsening liquidity crisis, despite recently assuring its employees to disburse payments on the first day of every month.
Reports also surfaced that Byju's investors are seeking to oust the top bosses of the company led by Byju Raveendran, saying they are 'deeply concerned' about future stability under the current leadership. BYJU’s Salary Delay: Edtech Major Delays Salaries of Employees for January, US Unit Files for Bankruptcy, Says Report.
Around 1000 employees of edtech startup Byju s have had their salaries delayed due to a technical glitch. The company said it was working to resolve the issue.