The new company policy is currently in effect for sales teams, including Inside Sales
and Byju's Exam Preparation (BEP) teams, an intern said, according to a company document.
Byju's did not immediately comment on the new policy.
Applicable for a period of four weeks till May 21, the new policy will ensure distribution of one percent of the weekly revenue generated by sales staff, according to the document.
Read the email, “Starting immediately, 50 percent of the advance weekly collection will be distributed directly to our sales associates every week for the next four weeks.
The document further says, "For example, if an associate successfully collects Rs 50,000 in revenue generated from orders between April 24 and April 30, they will receive Rs 25,000 on May 1."
The basic salary of sales team associates will remain temporarily suspended during the period till May 21.
"Since the basic salary has been suspended, you will not receive any salary payment for the given period (when the associate fails to make any revenue in the given week)," the company said in the internal document.
Last month, the company's shareholders approved the rights issue, paving the way for its parent company Think and Learn Pvt Ltd to issue new shares and conclude the rights issue aimed at tackling the severe cash crunch.
The approval of extraordinary general meeting (EGM) resolutions cleared the hurdle of dealing with unpaid salaries, regulatory dues and vendor payments.
and Byju's Exam Preparation (BEP) teams, an intern said, according to a company document.
Byju's did not immediately comment on the new policy.
Applicable for a period of four weeks till May 21, the new policy will ensure distribution of one percent of the weekly revenue generated by sales staff, according to the document.
Read the email, “Starting immediately, 50 percent of the advance weekly collection will be distributed directly to our sales associates every week for the next four weeks.
The document further says, "For example, if an associate successfully collects Rs 50,000 in revenue generated from orders between April 24 and April 30, they will receive Rs 25,000 on May 1."
The basic salary of sales team associates will remain temporarily suspended during the period till May 21.
"Since the basic salary has been suspended, you will not receive any salary payment for the given period (when the associate fails to make any revenue in the given week)," the company said in the internal document.
Last month, the company's shareholders approved the rights issue, paving the way for its parent company Think and Learn Pvt Ltd to issue new shares and conclude the rights issue aimed at tackling the severe cash crunch.
The approval of extraordinary general meeting (EGM) resolutions cleared the hurdle of dealing with unpaid salaries, regulatory dues and vendor payments.
