Unable to siphon off well Byjus. Shell company fund must have been paid to a family member. Time will tell whether it’s jail or bail like Mallya ;-))

Turning to kingfisher like situation where no salary to pay airline staffs but money parked in personal accounts for fun

Business Development

Private Equity

How is work going on now having met no salary  , are employees stick on daily targets and talktime completion?

Software Engineer

I heard somewhere that tomorrow is pretty important for Byju's fate? 
 Why

Growth Manager

He is trying to create rift between employees and board members while siphoning off this 500m

Content Strategist

Welcome to Indian Startups's Private Community

Why was $553 million not used for paying salary?

Why was $553 million not used for paying salary?- Grapevine

Just In : Byjus India CEO Arjun Mohan Steps down

When the car is broken, changing drivers wont move it.
All i read in that  headline is  " Unable to handle the shitty  car, driver abandons the vehicle, owner goes to pick it up".

Consultant

Program Manager

I've come really bizarre cases of companies laying off some division(s) while actively hiring in other division(s).

Why do they not transfer some of the to-be laid-off employees to the other divisions?

Why layoff and not transfer internally?

Software Developer

Hi guys hope you are all doing well and if not I wish you do super soon.

I just had this question in my mind as why the companies hold/delay the salaries to employees and give it back to them after 3-9 days of delay on the new month when the actual salary count is calculated between 1-30/31st of every previous month.

Is there any specific reason?

Hold of salary

Strategy & Operations

What’s up with this? I mean, money is an important factor behind applying for a job, so why hide that?
I wish there were regulations regarding that.

Companies not displaying salaries

Guess which company?
This is a BLR based gaming “startup” that employs more than 300 people.
They delay salaries on the last day of month at 4:30pm by making an HR newbie to post a random ass sorry message.

What are the employees supposed to do?
Isn’t salary disbursement the highest priority task for a finance team ?

These morons boast a “Great Place to Work” tag on their main door.
What a waste 😂
Playsimple Games

Salary delayed twice in 4 months

Product Manager

So this lala shop that I'm working for wants to be a billion dollar company but doesn't believe in clearing salary arrears. 

This drama started around March this year just before the appraisal. The employee portal was shut down citing some "updates" and later they slyly updated terms and conditions related to appraisal in all of our offer letters. The outcome of this was although we were told that the salary was raised but we still received the old salary for 3 months (April, May, June). We were informed the arrears would be created by September. But no updates. 

It's November and still the HR is silent about the difference that they owe to us. 

What's the best way to tackle this situation? Of course I want to leave this company but not before I take my wages.

Company not clearing salary arrears

Welcome to Software Engineers's Private Community

Dunzo has once more failed to deliver on its promise of crediting August salaries today, leaving employees frustrated. Employees were assured on last Thursday that the salaries would be credited today but yet another mail came in with the news of salaries being rolled out by this week. Words are cheap and the leadership hasn’t even addressed any of these concerns since a month now!

Dunzo again says “we regret” for the nth time

Ask them if CXO’s are taking salaries or not, i am sure they would be just making fool of the employees

Engineering Manager

Machine Learning Engineer

This gets the figure to like 10k in that many months 🫣

BYJU'S set to fire another 4,000 employees

Paying exorbitant salaries was going to bite them sooner or later, feel sad for those who will loose their jobs. But again have come across ppl who were paid insanely and were laid off not wanting to take a pay cut and join somewhere, infact they will ask more than what was their inflated last drawn salary. Not willing to realise the harsh reality of the current situation.

Computer Operator

Data Scientist

What's the weirdest, funny, worst or best things you've heard a company did for shake of cost cutting

Cost cutting

Growth And Strategy

Hi , this post is intended to be a disclaimer to anyone who is planning to join Yubi. A lot of things are happening here that show some signs of an impending layoff

1) Several senior folks in tech and product have quit. Also there is no replacement hiring planned for them. Several projects are also getting shelved as a result.

2) there were several open roles a few weeks back and almost all of them are on hold as of now across all depts( tech , business , ops)

3) rampant cost cutting. The lunch options have been reduced to just 1 dal , 1 veg , rice and chapati.  Snacks have been removed too.


Because of several folks quitting in less than 6 months and no replacement hiring , load has increased tremendously on existing members who are themselves trying to leave. 

People have serious doubts on whether any hike or bonus will be given or not this year.

Rampant negativity at Yubi

Welcome to Office Gossip's Private Community

I am curious what makes people give inflated salaries on an anonymous platform.

Unless you are a sadist and want everybody else to suffer, what is the best case reasoning for sharing wrong info? What social construct am I not able to understand here?

Reason for wrong salary info

Director of Engineering

Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people.

Like whats happening man!!! Is the company dumb or what?

LinkedIn Layoffs India

(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell your equity if its value is rising -> (4) Hire a lot of people again so that you can repeat this cycle again to profit

Dunzo recently paid, or announced it will pay, salaries for September through payroll funding app OneTap. Wanted to ask have any other companies also done this? (Which ones?) Does this impact the employees' credit scores?

Salary payroll funding

Policy Researcher

Welcome to Personal Finance's Private Community

Hey guys ,

I changed job in Oct 2022 , as i am a fresher and didn’t have knowledge - i didn’t check my payslips thoroughly and realizing just now that they didn’t cut tds from Oct - March . What will be the steps i have to do now in my ITR ? Is that illegal from my company ?
Will it be a problem for me?

Ps - Although they have cut ₹5156 from April 2023 in the name of total income tax , as per the new guidelines.

My ex employer didnt cut TDS (2022-23 )

UX/UI Designer

What to do when you are not satisfied with your current salary because you feel the quality and quantity of work you do is not worth it and your supervisor is playing around and not in favour of giving any financial growth even after good performance and you are not getting any opportunity outside having around 9yrs of experience in HR Operations. You feel very low and disappointed working like this. He is taking advantage of everything, not letting you apply for internal job openings also. What to do in this case?

Not happy with the salary

Human Resources

What's the craziest reason someone got fired?

Here's mine at my previous job. A collegue of mine was fired for smoking weed in the bathroom. He got back to his laptop and he was high as fuck, I am pretty sure he didn't even understand why he was getting fired.

What was the first sign that your company might be doing layoffs? 
Was it a random meeting addressed by CEO or some other shit?

What was the first sign of layoff?

IIT grad here building a venture backed startup. I think 99% of folks here believe that venture backed founders are super entitled and in a much "cosier" position than employees

Just sharing a few facts about our journey so far if it helps anyone improve their perspectives-

1) Paying ourselves 33% of our campus salary & 60% of what we are paying to our employees (Talking about Pure Base Salary here, not including ESOPs)

2) Insane stress - You basically have to raise money to build (esp if its deeptech because of the high fixed costs) and there are predefined metrics you have to always chase, sometimes just beyond yourselves. 

Your product will be copied if it's good because well, they always have more money than you. You work 7 days a week for insane hours, chasing metrics required to be "afloat" 

3) 99% of venture backed startups result in 0 liquidity gain for founders. So basically in all likeliness, everything is for a net negative return compared to if we took the campus job

So, when you wholeheartedly bash founders as if they are sitting On a goldmine while you are toiling for THEIR gold Treasure, just understand that more likely than not, there is not really any gold but rather an irrational hope they are clinging to

Also, Yes-we pay above market to our employees (100% hike for the last one) but the truth is some startups just Can't afford it. And ironically, there is a much higher looking down on these startups with meagurely paid founders rather than giants like Tech Mahindra paying peanuts to their employees while having a 1000% salary hike for the executives. 

Yeah, most startups need to do better but please appreciate if someone is atleast trying to do better because trust me, it's INSANELY HARD.. 

The number of posts I see about Flipkart making hundreds millionaires is way too less than the ones I see about pinpointing at every single mistake early stage startups do & I just wanted to express my opinion on it

Peace!

People way overestimate the life of founders

Oh no poor founders, they have to pay fair salary to their employees.

Founder

Welcome to Business Roles's Private Community

I still can’t comprehend the tax system in India. We pay almost 30-33% tax to govt n pay gst of 10-18% on every product that we buy n not to forget exercise duty on petrol/ diesel. What do we get back in return? Health insurance nope! Free education nope! Not even decent interest rates on loans and any political party is just an other party which loots people in the name of democracy. 

                   My neighbour is a fruit vendor who holds multiple stalls but never heard him paying tax. Whats the way forward as no political party pays heed and only handful pays the tax.

Every rupee out of three but truth is 50:50:

Banglore based fleek Is facing funding issues, not paying salary for it's employees since december 🙂

Will they pay the pending, after switching to other company?

Why was $553 million not used for paying salary?

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