Troubled edtech firm Byju’s has missed the timeline set by it to disburse performance-linked incentives to its tuition centre staff. The company had earlier committed to release the incentives along with the payment of salaries in September.
Mrinal Mohit, chief operating officer, Think & Learn (Byju’s), who also heads Byju’s Tuition Centres (BTC) had in a town hall meeting in assured all BTC staff that they would receive their performance-linked incentives along with their salaries in September, and that the team will not witness any layoffs. BTC staff have not been receiving their incentive pay since September quarter of 2022. This is the time that the company has failed to meet the deadline set by itself to pay the incentives. It had earlier promised to release incentives to the tuition centre staff in May this year.
When contacted, a Byju’s spokesperson said, “A part of the incentives due have already been paid to our tuition centre employees. As committed, the rest of the dues will be paid to these employees in a staggered manner”.
Meanwhile, sources said that Byju’s escalation and mentorship team employees have also not received their incentives since February this year.