By Under20s.com
The employees demand a full-time salary for May instead of the 20 days the company had initially promised . Employees are also requesting for the early release of notice payment, which is ranging of 60 days to 30 or 45 days. MFine was laid off about 700 or 75% of its employees on Friday.
The announcement of the layoff came in shock to employees, who were expecting an appraisal but were unaware that the business had run out of money.
MFine originally stated that it would pay 20 days' pay in May. The remaining salary , calculated based on the date of the notice would then be paid within the next 60 days.
The employees are furious and insist that MFine should pay out thirty days' wages and the notice period payments is due in over the course of 30 to 45 days.
"Our pay cycle runs from the 20th until the 20th. We've been working until the 20th day," stated an employee sitting outside the office. The employee also stated that the startup had not paid their overtime compensation incentive, holiday or comp-off they were entitled to.
Alongside the 30 day salary, employees are asking for the payment of their incentive payments during the month. This includes the encashment of accrued leaves as well as the pending vouchers. After protesting outside of the office for hours, two employees were permitted to go inside the office to discuss the issue.
The employees at both junior and senior levels of teams, which includes sales, quality, training as well as support and medications are among those affected by this massive elimination. But, according to the majority of employees who have been interviewed, the most senior managers of the core team of the startup who have the highest salaries, have been kept. That's why no member of upper management ever taken a cut.
A number of employees claimed they were dismissed without notice and threatened with legal action for not submitting an official resignation form.
Additionally, within a few minutes of notifying employees of the being laid off, their access to internal documents was restricted. As of now, lay-off employees don't have pay slips, even though they are desperately in need of new employment.
When asked if employees were aware that the situation was about to take place, many employees stated that there was an issue since the company was not performing well however, the staff was constantly there to assure.
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MFine was established in the year 2017 and has since raised nearly $97 million from investors including Moore Strategic Ventures, BEENEXT, Prime Venture Partners, Stellaris Venture Partners amongst others.
The healthtech company offers Telemedicine services that provide primary and chronic services. As of March the company was registering 300,000 transactions per month.