BYJU’s Founder Raveendran Assures Employees That They Will Get More Than Their Fair Share

Nitin Konde, Apoorva Bajj

Sep 24, 2024 — 3 min read

BYJU’s Founder Raveendran Assures Employees That They Will Get More Than Their Fair Share

The founder and chief executive officer of the educational technology giant BYJU's, Byju Raveendran, has expressed his profound sympathy for the recent difficulties that the company and its personnel have encountered.

Raveendran gave his employees the assurance that he would support and be committed to the future of the company, even though there were allegations of layoffs and financial troubles.

Raveendran Expresses His Gratitude via Letter

Raveendran acknowledged the "turbulent times" that BYJU's has been navigating in a letter that he sent to his staff. He also expressed his gratitude for the dedication that the employees of the company have shown him.

The payout will not be very large, but by this weekend, every single person who is employed by the company will receive a tiny amount. "Even if this is not even close to what you deserve, it is the best that I can give you at this moment. In addition, I assure you that on the day we take control of our company, you will receive a greater portion than what is considered to be your fair share," Raveendran stated in the letter. The plea that he made to employees was that they continue to be dedicated to their responsibilities and continue teaching at the company, as reported by a media group.

"You have my sincere apologies. Despite the fact that you have performed to the best of your abilities, we have not been able to reward you for the work that you have done. Please accept my sincere apologies for this, as it is not appropriate. In the past three months, we have been confronted with a perfect storm of legal disputes, financial concerns, and obstacles that none of us could have prepared for. But you have maintained your composure throughout it all," he commented further.

According to Raveendran, All employees have demonstrated that they are committed to the ultimate calling of a teacher, which is to educate, to inspire, and to guide.

Company’s Plans to Address Challenges

Raveendran provided an overview of the company's strategies to overcome the difficulties and secure the company's continued viability over the long run. It was his assurance to the staff that BYJU's would continue to be dedicated to its purpose of providing students all over the world with a quality education and that the company would be taking proactive actions to better both its financial condition and its operations.

He further asserted that lenders located in the United States have submitted a weak case, asserting that they have a claim on the Indian assets of the company. However, according to the deal that company has signed with them, they do not have any rights to have access to these assets. They are not legally represented by the so-called trust that is supposed to represent them in India. The majority of these lenders are not represented by this specific entity. "Nevertheless, the fact of the matter is that I am no longer in charge of the company's financial accounts, he stated. Raveendran expressed his understanding of the stress that this situation currently places on company's employees and assures them that case will end up in company's favour.