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Byju’s disburses part of pending salaries, to pay balance soon: Report

Business Today

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Edtech firm Byju's has partially disbursed the pending February salaries for all employees but assures the remaining balance will be paid once the funds from the recently closed rights issue become accessible. The company has made alternate funding arrangements to ensure employees' daily lives are not impacted. Byju's had been unable to pay salaries due to funds raised through a rights issue being locked in a separate account due to an ongoing dispute with investors. The company has faced several challenges including layoffs and a slowdown in demand for online learning services.

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