Edtech startup Byju's has delayed the salary of around 1000 employees due to an ‘unexpected technical glitch’. The beleaguered company said it was working to fix the issue and planned to credit the pending sum by Monday. “We have noticed a delay in processing for some employees due to an unexpected technical glitch. According to a Bloomberg report quoting unnamed sources the matter pertains to a missed payment of sponsorship royalties worth around $20 million. Byju’s and its creditors are also locked in conflict over a missed interest payment on a $1.2 billion term loan.

Source: Mint December 03, 2023 06:23 UTC