Niyo rolls out salary hikes, bonuses, ESOPs to boost employee morale

Niyo is also planning to double the size of its tech and product teams by the end of March 2021

Peerzada Abrar Bengaluru
Bonuses jump in FY17 as firms dole out surplus

Niyo said it has continued to invest in product development even during the lockdown

In an effort to boost employee morale and support them during Covid-19, Niyo, a fintech company, said it is offering 10-12 per cent salary hikes to employees. It is also offering bonuses and ESOPs (employee stock ownership plans), taking the total stock grants to over Rs 100 crore for all eligible employees. The salary increment and bonuses will be credited to the employees’ accounts by the end of this month.
Niyo is also planning to double the size of its tech and product teams by the end of March 2021. The company said it is starting these initiatives at a time when most fintech start-ups have laid off employees or cut salaries to reduce costs.
“Being employees for the first 15 years of our careers, my co-founder Vinay Bagri and I can relate to what our employees are going through and what their expectations are. Rewarding our employees for their patience and hard work is our humble way of supporting them in these challenging time

Also Read

Walmart's PhonePe assures employees there will be no layoffs, salary cuts

Covid-19 impact: Exide cuts pay by 15-30% across cadres, lower staff spared

Employers not paying full salary must present balance sheet in court: Govt

TCS top management takes pay cut in FY20 to conserve cash amid Covid-19

Covid-19: MakeMyTrip execs to draw zero salary, leadership to take 50% cut

Hyundai Motor India extends warranty options for Kona EV customers

Airtel: Cost reduction, higher digital recharges to help in coming quarters

Kirloskar Oil Engines reports Rs 6.73 crore net loss for June quarter

Mother Dairy forays into bread segment, aims to double its revenue in 5 yrs

Hero Electric partners with Autovert for subscription-based financing plans

First Published: Jul 30 2020 | 6:14 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to