New Delhi: Byju’s, the embattled edtech platform, has disbursed full salaries for April to employees across all functions, with the exception of the sales staff, amidst the backdrop of a liquidity crisis faced by the company.
Sources reveal that after a period of two months marked by partial payments, the edtech firm successfully remunerated its employees in full on Friday.
However, outstanding portions of the salaries for February and March remain unpaid by Byju’s.
Earlier delays in salary disbursements had seen employees receiving only partial payments later in the respective months.
According to insiders, the salaries were financed through revenue generated and debt secured by the company founders.
This development follows the implementation of a new compensation policy, linking sales staff salaries to the weekly revenue they generate.
An internal document indicates that this policy currently affects sales teams, including Inside Sales (IS) and Byju’s Exam Prep (BEP) teams.
Under this policy, effective for a four-week period until May 21, a percentage of the weekly revenue generated by sales staff will be distributed to them.
Last month, Byju’s initiated layoffs affecting hundreds of employees amidst financial constraints. The company cited ongoing business restructuring as the reason behind these actions.
