Mass Layoffs and Monetary Pressure
As per Entrackr, Founder and CEO Vishwa Nath Jha attributed these layoffs to “investor stress” and the corporate’s pressing must stabilize its funds. Nevertheless, the choice to chop employees has led to ongoing points.
Since March 2023, a number of former workers have accused Saarthi AI of withholding their salaries. Jha has constantly denied these allegations, calling them a “defamation marketing campaign” towards the corporate. He asserts that no salaries have been withheld and insists that the corporate is working diligently to resolve any monetary discrepancies.
Passport Theft Allegation
Including to the corporate’s woes, Jha not too long ago claimed {that a} senior worker stole his passport, which included a vital US visa. This theft, in keeping with Jha, has prevented him from touring overseas to safe new funding for Saarthi AI. “Whereas I managed to reissue a brand new passport, I’m but to get the US visa once more. It’s an extended queue,” Jha instructed Entrackr, a tech information web site.
Present and former workers of Saarthi AI current a unique narrative. They report that over 50 workers are nonetheless awaiting their salaries, with some authorized notices remaining unanswered. One nameless ex-employee shared their frustration, stating, “The founder has been unresponsive and even talked about that he doesn’t owe us any rationalization on a number of events.”
TDS and Future Prospects
Jha has additionally admitted that the corporate didn’t deposit Tax Deducted at Supply (TDS) for its workers over the previous two fiscal years. Regardless of these admissions, he stays hopeful. “We’re working laborious to develop into operationally money circulation optimistic by Q2 of 2024,” Jha defined. He additionally emphasised that Saarthi AI is actively looking for new investments to handle its excellent money owed and liabilities.
