Gå ubegrenset med Magzter GOLD
Få ubegrenset tilgang til over 9000 magasiner, aviser og premiumhistorier for bare
Prøve GULL - Gratis
FIITJEE delays salaries citing cash flow issues
Mint Mumbai
|February 14, 2024
Competition from edtechs, high fixed costs led to 68.5 cr loss in FY23
FIITJEE Ltd has suspended salary payments citing cash flow issues, five company executives said, at a time the test preparation firm is squeezed by rising losses and competition. The company has assured employees that salaries will be paid, but there is no clarity on when, the executives said on condition of anonymity.
FIITJEE, one of India's largest IIT coaching chains operating its own centres as well as franchises, conveyed the decision last week.
"Employees were told on 7 February at a meeting in Delhi that salaries for the month will be delayed. The company has been struggling financially for quite some time now, and employees were informed that this is a cash flow issue that the company was working to fix. However, no timeline was offered for when salaries would be released," one of the executives said.
Denne historien er fra February 14, 2024-utgaven av Mint Mumbai.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Mint Mumbai
Mint Mumbai
Chip crunch hits laptops, budget smartphones
Prices of budget smartphones and laptops in India have risen by almost 10% and a further increase may be on the anvil next year.
2 mins
November 22, 2025
Mint Mumbai
Space startup Agnikul raises ₹150 crore
Aerospace startup Agnikul has raised ₹150 crore in a Series C round, two people familiar with the matter told Mint, after its earlier plan to raise up to $50 million failed to draw sufficient investor interest.
1 mins
November 22, 2025
Mint Mumbai
It's a new day for labour
Four consolidated codes advance equal pay for women, gig worker protection, gratuity after a year, health checks
5 mins
November 22, 2025
Mint Mumbai
Global giants press for PLIs on aerospace components
Airbus, Boeing, Pratt & Whitney seek production-linked incentives like the one for drones
3 mins
November 22, 2025
Mint Mumbai
Digital gold stumbles, ETFs sniff opportunity
Fund houses are promoting gold ETFs as secure, regulated, transparent
2 mins
November 22, 2025
Mint Mumbai
When the music played
For all the years it was central to entertainment and information, the television was called \"the idiot box\", and a good vs bad debate continues to swirl around it long after many have cut cable and switched to streaming.
1 mins
November 22, 2025
Mint Mumbai
Gratuity and benefits to soar for millions of employees
The government on Friday implemented four new labour codes, marking the biggest overhaul of workers’ laws in decades.
2 mins
November 22, 2025
Mint Mumbai
Rising stars of mixed-doubles table tennis
Diya Chitale and Manush Shah are the first Indians to qualify for the WTT Finals
4 mins
November 22, 2025
Mint Mumbai
THE AGE OF MT
In the 1990s and 2000s, MTV changed Indian pop forever through innovative programming and VJs who gained their own fandom. When did it stop experimenting?
7 mins
November 22, 2025
Mint Mumbai
Behind strong Q2 show, a shallow recovery
India Inc’s September-quarter print was shaped by small- and mid-cap outperformance, and sector-specific boosts for oil marketing companies, cement and consumption niches rather than a broad-based demand upturn.
3 mins
November 22, 2025
Listen
Translate
Change font size