Byju's pays April salary in full, except to sales employees

By IANS | Published: May 3, 2024 06:41 PM2024-05-03T18:41:13+5:302024-05-03T18:45:09+5:30

New Delhi, May 3 Embattled edtech platform According to sources, the edtech firm managed to pay the full ...

Byju's pays April salary in full, except to sales employees | Byju's pays April salary in full, except to sales employees

Byju's pays April salary in full, except to sales employees

New Delhi, May 3 Embattled edtech platform

According to sources, the edtech firm managed to pay the full amount to employees on Friday after two months of partial payment.

Byju's has yet to pay the remaining part of the salaries for February and March.

Salaries had earlier been delayed for both months, with only part of the payments being paid to employees later in the respective months.

As per the sources, the salaries were paid from revenue generated and debt raised by the founders earlier.

This comes after the edtech firm rolled out a new policy linking sales employees' salaries to the revenue they generate every week.

According to an internal company document, the new company policy is currently applicable to sales teams, including the Inside Sales (IS) and Byju’s Exam Prep (BEP) teams.

The new policy, which is applicable for a period of four weeks till May 21, will ensure the disbursal of a percentage of the weekly revenue generated by sales staff, as per the document.

Last month, Byju's began to lay off hundreds of employees amid a cash crunch. The company had said that they were in the final stages of a business restructuring exercise.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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