Login

News Post

Test-prep startup Exampur delays employees salaries for months, founder says, "we plan to pay in 3-4 months"

IndianStartupNewsIndianStartupNews · 10m
Test-prep startup Exampur delays employees salaries for months, founder says, "we plan to pay in 3-4 months"

Exampur, a test-prep startup, is facing financial difficulties, leading to unpaid staff salaries and unsettled full and final (F&F) payments for employees. The company's co-founder attributed the issues to a failed acquisition by upGrad and a subsequent shortage of funds. The acquisition caused operations to scale down, resulting in layoffs and employee departures. The co-founder sold personal holdings and mortgaged belongings to sustain the company, but salaries were still delayed. Exampur expects to pay off December salaries by February end and plans to pay off dues to ex-employees in the next three to four months. The edtech sector as a whole is experiencing funding challenges, with many startups making cost cuts and layoffs.

4
View Source

Comments

More Like this

Byju's says it has paid part salaries for February, will pay rest from rights issue fund

Byju's says it has paid part salaries for February, will pay rest from rights issue fund

Italy to test Starlink satellites to boost internet penetration, official says

Italy to test Starlink satellites to boost internet penetration, official says

Dunzo defers pending salaries for June-July to Feb 2024: Report

Dunzo defers pending salaries for June-July to Feb 2024: Report

Byju’s to delay salaries amid dispute with investors, says Raveendran

Byju’s to delay salaries amid dispute with investors, says Raveendran

The Clock Is Ticking For BYJU’S

The Clock Is Ticking For BYJU’S

Ranjan Pai books an Aakash seat with $168 million to clear Davidson Kempner debt

Ranjan Pai books an Aakash seat with $168 million to clear Davidson Kempner debt

Tech salaries in US decline amid record inflation, market turbulence

Tech salaries in US decline amid record inflation, market turbulence

Byju's India CEO Arjun Mohan resigns, Know the reason

Byju's India CEO Arjun Mohan resigns, Know the reason

Koo halts salary payments from April; founder says company 'will remain operational'

Koo halts salary payments from April; founder says company 'will remain operational'

BYJU’S On The Verge Of A Turnaround, Investors Ready To Back The Company: Byju Raveendran

BYJU’S On The Verge Of A Turnaround, Investors Ready To Back The Company: Byju Raveendran

Download the medial app to read full posts, comements and news.