BYJU's Salary Update: Embattled Edtech Major Begins Disbursing March Salaries to Thousands of Employees After Second Successive Delay

New Delhi, April 9: Embattled edtech platform Byju슬롯사이트™s finally started disbursing salaries to its thousands of employees for the month of March after arranging an alternative line of credit. In a letter to employees seen by IANS, the company said the salary disbursement has commenced and will be completed over the next 10 days.

슬롯사이트œUnfortunately, despite our efforts, we haven슬롯사이트™t yet secured approval to access the rights issue funds, because of the action of four foreign investors,슬롯사이트� the communication read. However, it has now arranged an alternative line of credit to ensure 슬롯사이트œtimely payments.슬롯사이트�슬롯 머신 사이트 추천Paytm Payments Bank CEO MD and CEO Surinder Chawla Resigns Amid Firm Facing Prohibitory Action From RBI.

슬롯사이트œWe sincerely appreciate your patience and understanding throughout this period슬롯사이트�, the company told the staff. Reports surfaced last week that the edtech company has begun to lay off employees amid a severe cash crunch, as it enters the 슬롯사이트œfinal stages of a business restructuring exercise.슬롯사이트�슬롯 머신 사이트 추천PayU Partners With PayPal To Improve Cross-Border Payments Experience for Indian Merchants Leveraging 'PayPal ISU 2.0 API'.

"We are in the final stages of a business restructuring exercise announced in October 2023 to simplify operating structures, reduce the cost base, and better cash flow management,슬롯사이트� according to Byju슬롯사이트™s, which struggles with limited funding amid legal battles with investors and other stakeholders. Byju슬롯사이트™s had to delay salaries for thousands of its employees for the second successive month, as it faces restrictions over the usage of the funds raised through the rights issue.

(The above story first appeared on LatestLY on Apr 09, 2024 06:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).