Raveendran’s letter to staff
In a letter to his staff, Raveendran acknowledged the “turbulent occasions” that Byju’s has been navigating and expressed his gratitude for the dedication of the corporate’s staff.
“It received’t be a lot, however every one in every of you’ll obtain a small fee by this weekend. This isn’t practically what you deserve, however it’s what I can provide proper now. And I promise you this — the day we regain management of our firm, you’re going to get greater than your justifiable share,” Raveendran stated within the letter. As reported by Enterprise Commonplace, he requested staff to stay devoted to their roles and proceed educating on the agency.
“I owe you an apology. You’ve gotten given your finest, but we have now not been in a position to compensate you on your work. This isn’t proper, and for that, I’m actually sorry. The previous three months have been an ideal storm of authorized battles, monetary uncertainties, and challenges none of us ever anticipated. However by all of it, you’ve got stood sturdy. You’ve gotten upheld the best calling of a trainer — to coach, to encourage, and to information,” added Raveendran.
Raveendran additionally outlined the corporate’s plans to handle the challenges and guarantee its long-term sustainability. He assured staff that Byju’s stays dedicated to its mission of offering high quality schooling to college students worldwide and is taking proactive steps to strengthen its monetary place and operations.
“As a result of we imagine on this firm, we imagine in our mission, and most significantly, we imagine in you. We all know that Byju’s is not only a enterprise mannequin. We serve hundreds of thousands of scholars throughout the nation, and we try this by the tireless efforts of hundreds of lecturers such as you,” stated Raveendran.
He additionally claimed that US-based lenders have filed a weak case, making a declare on the corporate’s Indian belongings. “However they haven’t any entitlement to those belongings, as per the settlement we signed with them. The so-called belief that represents them in India has no authorized standing. It doesn’t symbolize nearly all of these lenders. Nonetheless, the fact is that I now not management the corporate’s financial institution accounts. We’re assured of successful this case, and whereas we wait, I perceive the burden this locations on you,” stated Raveendran.
He acknowledged that the authorized battles are a private problem for him. “I do know that, collectively, we are going to come out of this stronger than earlier than. We can’t cease. We can’t even decelerate. As a result of we have now hundreds of thousands of scholars relying on us. They’re the explanation we preserve going. They’re the explanation we battle these battles. And they’re the explanation we are going to win,” stated Raveendran.
