Salaries delayed for Byju’s 20,000 employees

Edtech major Byju’s is yet to process the salaries of its employees for the month of February as the amount raised through the rights issue is currently locked in a separate account “at the behest” of some key investors, its founder and CEO Byju Raveendran has told employees.

In a letter to the staff, accessed by



IANS, Raveendran said that the rights issue (which is about $250-$300 million) has been successfully closed. “However, I regret to inform you that we will still be unable to process your salaries. Last month, we faced challenges due to a lack of capital, and now we are experiencing a delay despite having funds,” he told more than 20,000 employees.