Quick commerce player Dunzo has further deferred the remaining balance payment payout of June salaries for some of its employees to September 4. The company had previously set a deadline of July 20.
The salaries for July and August for July and August will be paid on the same date, according to people in the know of the matter.
Earlier this month, the company had capped the salaries of its senior-level employees to ₹75,000 for June. It had then said that the remaining salary would be paid by July 20, which businessline reported.
“Whoever gets paid 75k+ and above has received nearly 50 per cent of the salary for this month, and the rest will be paid before 25th of this month,” said a source who spoke to businessline on condition of anonymity.
Bengaluru-headquartered Dunzo closed a $75 million financing round through convertible notes in April. The company raised $240 million in equity funding in January 2022, led by Reliance Retail. Reliance Retail has a 25.8 per cent stake, while Google has about 20 per cent stake in the company. Cumulatively, the company has raised $457.6 million across 19 rounds of funding. The quick commerce venture was valued at $757 million as of May 2022, according to data research platform Tracxn.
The latest developments came when Dunzo had fired about 30 per cent or over 300 people of its workforce in April.
Dunzo refused to comment on the developments. This is the second round of workforce rationalisation at Dunzo this year. In January, too, Dunzo had laid off about 3 per cent of its workforce as part of its cost-cutting efforts.