Tall pay wall stops rivals from fishing in Paytm's talent pool
Competitors and other startups are eyeing talent within Paytm amid its current challenges. However, the company's reputation for offering salaries well above industry norms means that many potential candidates are being priced out of the talent market. Industry insiders and executives from recruitment services and search firms have noted that Paytm's generous compensation packages are difficult for other companies to match. Key Points
Economic TimesTech salaries get reset as startup talent becomes affordable amid crises at Byju's, Paytm
While many employees of cash-strapped ed-tech firm Byjus have been in the job market for a while now, troubles at Paytm after the central bank imposed curbs on its payments bank unit have made a number of its staffers jittery, driving them to explore other options. Swiggy and Flipkarts announcements of workforce cuts have also added to the supply of talent who were highly paid. Key Points
Economic TimesMind the gap: Median female salaries at Nifty50 companies lag males' by a tenth
ET analysed the median salaries for male and female employees disclosed by Nifty50 constituent companies. Of the 50 companies, 43 disclosed this data in their FY23 annual reports. The median male salaries were higher than median female salaries in 31 of these companies. The median female salaries were, on average, 9.2% lower than the median male salaries. Key Points
Economic TimesDunzo defers salary payments to September
Quick commerce startup Dunzo, backed by Reliance Industries and Google, has delayed salary payouts for the second time in two weeks due to a cash crunch. The company had previously capped payouts at INR 75,000 ($1,007) for higher earners, but now plans to pay all outstanding salaries by 4 September. Around 40-45% of Dunzo's workforce has been affected by the salary caps. The company is reportedly in the process of raising $50m from new investors. Key Points
mintByju’s lays off about 500 staffers, nearly half from tuition centre business
Layoff at Byju's has hit 500 staffers, affecting Tuition Centre operations, amidst a funding crisis. Staff face delayed salaries amid NCLT hurdles and upcoming $200-million rights issue, with assurances of arrears settlement by April 8. Key Points
Economic Times
Byju’s unable to pay salaries as rights issue funds locked in separate a/c amid rift with investors
Byju’s founder Byju Raveendran on Saturday said the edtech company will not be able to pay salaries to employees as the recent funds raised through... Key Points
The Tribune India