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Mumbai: Troubled edtech startup Byju’s is struggling to make salary disbursements to its employees amid a severe cash crunch. The company, which failed to make disbursement of full salaries for Feb to most of its employees, has also not been able to pay March salaries to its staff on time.
The move by a few select investors to disable the company from using the funds raised through the rights issue has delayed the payment of salaries, the company’s management said in a letter to employees on Monday.“… we are following a parallel line of credit to ensure that you receive your salary by the 8th of April,” the firm said.
The move by a few select investors to disable the company from using the funds raised through the rights issue has delayed the payment of salaries, the company’s management said in a letter to employees on Monday.“… we are following a parallel line of credit to ensure that you receive your salary by the 8th of April,” the firm said.
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