BYJU'S Processes May Salaries Amid Financial Struggles

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BYJU'S, the beleaguered EdTech giant, is set to disburse salaries for May on Monday, June 3, after facing significant delays due to a severe cash crunch and ongoing legal issues. Sources familiar with the situation informed IANS that the salary payments have been processed and are expected to be credited today.

This latest payroll will be funded from the company’s recent collections, highlighting the positive effects of BYJU'S recent financial restructuring efforts aimed at improving salary disbursements and overall financial health.

However, the company still has to address outstanding salary dues from February and March for many employees. Chief Technology Officer Jiny Thattil has assured staff that these arrears will be cleared between June 15 and June 30, with the final deadline being July 8.

BYJU'S has struggled for months to pay its employees on time, impacting thousands. In an effort to stabilize its financial situation, the company has devised a plan to ensure regular salary payments for at least the next six months.

In April, BYJU'S initiated a business restructuring process, resulting in the layoffs of hundreds of employees. The company has not commented on the current salary situation as of now.

Despite these measures, BYJU'S continues to face financial and legal challenges as it works to regain stability and restore confidence among its workforce.