Byju’s evades protest in unplanned town hall with promises to pay incentives and other variable pay

Byju’s has reportedly escaped a protest planned by its staffers with promises to pay incentives and other variable pay, as per news report. In an emergency town hall meeting with more than 5,000 Byju’s Tuition Centre (BTC) employees, the company has promised not to lay off more personnel and agreed to remunerate them by releasing incentives and variable pay. 

According people aware of the matter said a news source that many Byju’s employees had planned for a protest on July 25 over issues like incentives and non-payment of variable pay. The meeting was led by Byju's top executive Mrinal Mohit.  

As per another media report, the staffs have decided to temporarily call off the protests.    

While a Byju's spokesperson said that the company wasn't aware of any planned protests and the town hall was planned well in advance, employees reportedly countered saying the town hall "happened to stop the protests on July 25". 

The company has also laid off Zia Ur Rehman, a BTC Area Business Head, who was organizing the demonstration of July 25. Rehman told a news source that the reason for his termination was not clarified by Byju's. 

The murmurs of unrest in ranks comes amid a spat of problems recently faced by Byju’s. It comes after founder and CEO Raveendran recently admitted past mistakes in an assurance call to shareholders last month. Byju’s is facing questions over its corporate governance practices and delayed financial reports. Auditor Deloitte’s resignation and a boardroom exodus added to its woes. The firm is involved in a legal battle with a US lender. The company saw a positive development last week as former SBI chief Rajnish Kumar and IT industry veteran T V Mohandas Pai will join its Advisory Council.