Employees of Byju’s Tuition Centre business unit have reportedly called off their planned protest against the company’s management. The protest, which was initially scheduled for July 25, was expected to involve around 9,000 employees. However, the protest was called off after Byju’s India head, Mrinal Mohit, held an emergency virtual town hall meeting on Saturday. During the 50-minute meeting, Mohit assured employees that the company would no longer delay variable pay and incentives, and there would be no more layoffs.
Byju’s, based in Bengaluru, operates over 300 tuition centres across 143 towns in India. According to employees, they have not received variable pay for the past three quarters, and incentives have been unpaid for a year. They decided to withhold the protests based on the assurance that there will be no further job cuts. However, they stated that if any layoffs occur, protests will immediately follow without any ultimatum.
In recent months, Byju’s has faced multiple issues, including concerns over its corporate governance practices. Earlier this month, the corporate affairs ministry ordered an inspection of Byju’s books due to its inability to finalize financial statements and the resignation of its auditor. Despite the corporate affairs ministry’s actions, a spokesperson for Byju’s stated that the town hall meeting was pre-planned to commemorate the completion of one year for the business unit and denied any knowledge of employee protests.
