By India Today Business Desk: Quick-commerce player Dunzo on Wednesday informed employees that pending salaries from June would be delayed until September, reported news agency Reuters, after reviewing an internal email.
The Reliance-backed company, which is grappling with a cash shortage, sent an email to some employees and informed them that salaries will be delayed till September.
The cash crunch had recently forced the company to reduce 50 per cent of its dark stores, lay off employees and seek funding from investors.
Dunzo had deferred the June salaries of some employees to July 20, but the fresh email suggests that it has further deferred all such payments – including increments and variable pay – till September 4.
It is not yet clear how many employees will be impacted by the move, but Moneycontrol.com reported that senior employees have received the email. The publication also reported that Dunzo has capped employee salaries at Rs 75,000 per month, irrespective of their pay packages.
The delay in payment of salaries and bonuses could hit the morale of employees at the cash-strapped company, and could even lead to more voluntary exits or layoffs.
It may be noted that the development comes months after the firm secured funding of $75 million from investors, including Reliance Retail and Alphabet Inc. The company also laid off 30 per cent of its workforce to streamline operations.