upGrad extends Work From Home till 31 Dec 2020, reverses salary cuts
PTI | Education technology firm upGrad on Wednesday announced that it will continue work from home for employees till the end of this year and pay back salaries deducted during the lockdown period.
upGrad will not start work from office even if the situation improves before 31st December 2020.
upGrad co-founder and Managing Director Mayank Kumar said there will be apprehensions among employees when the office resumes, and few people who have gone back to their hometowns and those who were planning to go are uncertain on their next steps.
“Keeping everyone’s well-being in mind, we declared work from home till December 31, 2020, and we won’t be opening our office even if the situation betters now, as we want employees to be relieved of this constant uncertainty,” Kumar said in a statement.
Upgrad had declared work from home about 10 days before Prime Minister Narendra Modi announced nationwide lockdown.
The company had also announced paycuts of up to 30 per cent of its employees on the basis of seniority.
“The company has now reversed these salary cuts at the beginning of the new quarter today and will be providing 100 per cent reimbursement to their employees for the same in the monthly salary of July. The edtech sector, which has received a massive fillip due to the pandemic, has contributed to the business growth of upGrad,” the statement said.
Details about its revenue growth will be released within the next few days, according to company officials.
upGrad is an online higher education platform providing rigorous industry-relevant programs designed and delivered in collaboration with world-class faculty and industry. Founded in early 2015, upGrad claims to have onboarded over 30,000 paid learners within a short span of five years.