Days after an employee called him out in the comments section and questioned the company’s commitment to its workforce, Byju’s CEO Byju Raveendran assured him that pending salaries, unpaid for the past three months, would be cleared, though not ‘immediately’.
Raveendran took to LinkedIn earlier this week to acknowledge his absence, asked his employees for forgiveness, and refute certain charges against him.
Raveendran assured the Hyderabad-based employee that pending salaries would be paid eventually, but not “immediately.” He said that he was fighting not just for himself but also for his employees.
“Bills will be paid, comeback will be made, dues will be cleared. Not immediately, but eventually. I am not fighting for just myself. Till then, you have to rely on my words. Till then, you have my word,” the former billionaire wrote in response.
He also refuted claims that his family made a fortune by selling shares and added that all the money was reinvested into Byju’s. In his post, Raveendran called for a “thorough investigation” into alleged collusion and fraud involving the firm’s lender Glas Trust, consultancy firm EY, and former resolution professional Pankaj Srivastava, claiming they played a role in Byju’s downfall.
What the employee had said?
One Byju’s employee, Hyderabad-based Kaushik Lade, reminded him of workers left struggling without pay.
“We hear your passion, but passion doesn’t pay our bills,” Lade wrote. “While you speak of sacrifice, we – the employees who built BYJU’S – have been left stranded without salaries for three months. Our PF remains unpaid. We stood by this company, gave it our best, and now we are fighting just to survive. Please don’t let the people who made BYJU’S suffer in silence. Words inspire, but actions matter,” he added.
Once India’s most valued edtech firm, Byju’s has been in turmoil for over a year.