Dunzo now defers employee salaries to November, may vacate office space


New Delhi, Sep 15 (IANS): Homegrown quick-grocery delivery provider Dunzo has further delayed salaries of its employees for the month of June and July, this time to November amid an ongoing fund crunch.

The beleaguered startup may also vacate its office in Bengaluru to cut costs, according to its co-founder and CEO, Kabeer Biswas, who addressed employees in a town hall meeting on Friday.

Biswas reportedly told employees that their pending payouts for June and July will now be cleared in November.

The company has put in place a new hybrid marketplace business model, “which is a combination of dark stores and partner stores," according to reports.

Earlier this month, Dunzo, which has been delaying salaries for its employees after being unable to raise funds, further delayed paying its staff and said to be doing it "batch-wise”.

The quick-grocery delivery provider was supposed to start disbursing salaries from September 4.

"Due to certain procedural requirements, we have to do this batch-wise. It may take an additional day or two for us to facilitate this transfer for everyone," Dunzo told employees in an email.

Dunzo earlier delayed salaries to the first week of October after being unable to raise funds.

It had also promised employees to pay an interest of 12 per cent per annum on the salary component that it held back from June.

It was in advanced talks to raise between $80-100 million in its series G round from its existing investors, including Lightbox and Lightrock. Dunzo has raised about $500 million to date.

 

  

Top Stories


Leave a Comment

Title: Dunzo now defers employee salaries to November, may vacate office space



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.