Dunzo, a beleaguered quick commerce player, has once again postponed the payment of salaries to its employees, according to recent reports. The startup’s ongoing financial challenges have led to a delay in compensating its workforce.
Dunzo New Payment Timeline Revealed
An internal email obtained by Moneycontrol revealed that Dunzo informed its employees that their pending salaries would now be transferred by the end of the first week of October. The company had previously assured its staff that overdue payments for June and July would be cleared by September.
12% Interest to Be Paid on Pending Dues
Dunzo also promised its employees an interest of 12% per annum on the outstanding salary amounts. The internal email stated that the calculated interest would be added for the additional month of delay.
Dunzo Pledge Amid Apologies
While expressing apologies for the delays, Dunzo emphasized its commitment to prioritizing the prompt crediting of pending compensation. The company conveyed its efforts to clear outstanding dues and expressed confidence in preventing any future payment delays.
Recurring Delays and Company’s Challenges
This marks the third significant delay by Dunzo in releasing its employees’ salaries. Prior to this, the startup missed the July 20 deadline for clearing pending salaries. Amid a funding crisis, the company implemented mass layoffs, shedding about 30% of its workforce. Alongside salary payment issues, Dunzo faces legal notices from vendors for unpaid dues and is navigating cost-cutting measures, including a shift towards a marketplace model. Despite its challenges, the startup continues to seek funding from investors to stabilize its operations and regain its financial footing.
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