Several Byju’s employees have faced a delay in receiving their salaries due to a technical glitch. The edtech giant assured that it is addressing the issue and is in the process of disbursing the pending payments to the remaining employees.
The company acknowledged that the delay in processing salaries was due to some unexpected technical glitch, affecting about five per cent of its employees, which means, 1000 employees. However, it also clarified that the employees will get their delayed payments by Monday, 4 December, 2023.
The delay appears to have affected individuals at various organisational levels. However, employees associated with Akash Institute have not been affected.
The edtech giant has been in the news for salary-payment issues for quite some time now.
In November 2023, the company delayed the final settlement of the employees who were terminated. The company laid off approximately 7,000 employees in multiple rounds since the start of 2022, and in October 2023, it let go of 600 employees from its marketing and content teams.
Although the promised settlements were scheduled for 17 November, the reports suggested that payments were being processed gradually. While October dues have been settled, employees terminated in June and July are still awaiting their final settlements.
This restructuring, part of Byju’s reorganisation led by Arjun Mohan, CEO, has affected an estimated 4,000–5,000 jobs. The initiative aims to simplify operations, reduce costs and improve cash flow, with the process expected to conclude in the coming weeks for enhanced sustainability. The company has also witnessed several senior-level departures in recent months.