- July 4, 2024
Former Byju’s staffers issue Rs 2.3 cr demand notice – Times of India
BENGALURU: About 62 employees of Byju’s on Thursday issued a demand notice of over Rs 2.3 crore to the embattled edtech startup.
The notice was issued on account of unpaid salaries and dues the company owes these employees since January, an employee told TOI on condition of anonymity.
TOI has reviewed the notice that has been issued by Bengaluru-based Canvas Legal.
The latest development follows a series of controversies that Byju’s has run into amid a drastic drop in valuation, leadership exodus, multiple legal battles against investors, vendors and layoffs over the last two years.
TOI’s queries on the matter to the company’s spokesperson did not elicit a response till the time of going to press.
In May, its founder Byju Raveendran, who took charge of the day-to-day operations, met 1,500 sales associates and managers on Sunday to discuss new models around their salaries, sales and product pricing. The moves is expected to revive some parts of the business in the wake of a severe cash crunch.
The notice was issued on account of unpaid salaries and dues the company owes these employees since January, an employee told TOI on condition of anonymity.
TOI has reviewed the notice that has been issued by Bengaluru-based Canvas Legal.
The latest development follows a series of controversies that Byju’s has run into amid a drastic drop in valuation, leadership exodus, multiple legal battles against investors, vendors and layoffs over the last two years.
TOI’s queries on the matter to the company’s spokesperson did not elicit a response till the time of going to press.
In May, its founder Byju Raveendran, who took charge of the day-to-day operations, met 1,500 sales associates and managers on Sunday to discuss new models around their salaries, sales and product pricing. The moves is expected to revive some parts of the business in the wake of a severe cash crunch.
