Byju's ex-employees charge it of missing full and final settlement deadline

Edtech major BYJU'S former employees have alleged that the company has failed to meet the deadline for full and final settlement of laid-off workers.

BYJU'S workforce has come down to 31,000-33,000 at group level from 50,000 in October 2022.

"I am writing to bring to your attention that I have not received my Full and Final (FNF) payment within the specified timeframe of 45 days and it's about 90 days and I did not get proper resolve from separation team fnf team and all," a former BYJU'S employee wrote on a social media platform.

When contacted, the employee claimed that full and final settlement of many employees whom he knows has not been settled yet.

 

An employee sent out an email to several media persons claiming that he was promised by the HR manager at BYJU'S that he would be paid the September month salary along with one month's severance pay by October and later he got an email which deferred the date to November 17.

The employee said that the payment is still getting delayed.

BYJU'S did not offer any comment on the email query sent in this regard.

A company source, however, said that there is a three-month period for every employee and payments are being settled with the completion of each cycle.

"Every employee has a different cycle. BYJU'S continues to settle the payment of employees gradually," the employee said. BYJU'S in September was evaluating performance of employees and was expecting that around 3500 may be laid off by October.

A company official had said that the company over-hired employees during the Covid period and the lay-offs are part of course correction to align with the current situation.

The source said most of the employees under third-party payroll and across subsidiaries like BYJU's Future School, formerly Whitejat Jr, were impacted.

Think and Learn Private Ltd, which operates under the brand name of BYJU's, earlier this month reported narrowing of operational losses in core business to Rs 2,253 crore for the 2021-22 fiscal.

The core business of the company comprises its K12 offering, application and tuition centres.

BYJU'S said its core business revenue grew 2.3 times to Rs 3,569 crore in FY22 from Rs 1,552 crore in the previous year. The financial numbers released by the company exclude the financial performance of all acquisitions made by the company.