Former BYJU’S Employees Allege Delay in Full and Final Settlement, Company Responds

• ByStartupStory     |    November 21, 2023

Former employees of edtech giant BYJU’S are alleging that the company has failed to meet the deadline for the full and final settlement of laid-off workers. Despite a reduction in the BYJU’S workforce from 50,000 in October 2022 to 31,000-33,000 at the group level, concerns have arisen regarding the timely payment of dues.

Expressing frustration, a former BYJU’S employee posted on a social media platform, stating, “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 the separation team fnf team and all.”

One employee claimed in an email to various media outlets that promises made by the HR manager at BYJU’S regarding salary and severance pay were not fulfilled. Initially, the employee was assured of receiving the September month’s salary and one month’s severance pay by October, but subsequent emails deferred the payment date to November 17, and the employee stated that the payment is still being delayed. BYJU’S did not provide any comments on the matter.

A company source countered the allegations, explaining that there is a three-month period for every employee, and payments are settled with the completion of each cycle. The source stated, “Every employee has a different cycle. BYJU’S continues to settle the payment of employees gradually.”

In September, BYJU’S had announced evaluations of employee performance, anticipating layoffs of around 3,500 by October. A company official attributed the layoffs to the need for course correction, indicating that the company had over-hired during the Covid period.

Most of the affected employees were reportedly under third-party payroll and across subsidiaries like BYJU’s Future School (formerly Whitejat Jr). BYJU’S reported a narrowing of operational losses in its core business to Rs 2,253 crore for the 2021-22 fiscal year. The core business includes K12 offerings, applications, and tuition centers. BYJU’S stated that its core business revenue grew 2.3 times to Rs 3,569 crore in FY22, excluding the financial performance of all acquisitions made by the company.

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