Byju’s CEO, Byju Raveendran, assured an worker that pending salaries, unpaid for the previous three months, could be cleared—although “not instantly.”
His response got here after Hyderabad-based worker Kaushik Lade confronted him within the feedback of his now-viral LinkedIn publish, questioning the corporate’s therapy of its workforce amid its ongoing monetary disaster.
“We hear your ardour, however ardour doesn’t pay our payments,” Lade wrote. “When you converse of sacrifice, we—the staff who constructed BYJU’S—have been left stranded with out salaries for 3 months. Our PF stays unpaid. We stood by this firm, gave it our greatest, and now we’re preventing simply to outlive. Please don’t let the individuals who made BYJU’S endure in silence. Phrases encourage, however actions matter.”
In response, Raveendran acknowledged the delays however promised that salaries would ultimately be paid. “Payments can be paid, comeback can be made, dues can be cleared. Not instantly, however ultimately. I’m not preventing for simply myself. Until then, it’s important to depend on my phrases. Until then, you will have my phrase,” he replied.
Allegations of ‘legal collusion’
Raveendran’s viral publish, which sparked the worker backlash, targeted on accusations of “legal collusion” in opposition to EY India, GLAS Belief, and an interim decision skilled (IRP). He alleged that these entities had acted in opposition to Byju’s pursuits, resulting in the corporate’s downfall.
“A number of workers and I obtained a doc with conclusive proof of legal collusion between EY India, which I in any other case held in excessive regard, GLAS Belief, which claims to characterize lenders it doesn’t characterize, and the IRP, who was appointed by an Indian court docket to guard BYJU’S however ended up destroying it,” he wrote.
He urged authorities to research the alleged misconduct however didn’t disclose additional particulars.
Shortly after his publish gained traction, Raveendran’s LinkedIn account and the publish itself had been allegedly taken down. His spouse, Divya Gokulnath, took to social media, stating, “Byju’s publish and account taken down. Investigating why. However no downside. Right here we go once more,” together with screenshots of the deleted publish. Each the account and publish had been later restored.
Byju’s struggles proceed
Byju’s, as soon as India’s most valued edtech startup, has been in turmoil for over a yr. The corporate is entangled in disputes over a $1.2 billion time period mortgage, with lenders demanding governance adjustments amid an ongoing insolvency decision course of.
Whereas Raveendran speaks of a comeback, for a lot of workers, the speedy concern stays unpaid salaries—one thing “not instantly” assured.
