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Between Bouncers And Brick Walls: Why AGS Staff Want To Quit, But Can’t | Profit Exclusive
- AGS Transact Technologies Ltd. is facing financial difficulties with unpaid salaries and invoices, affecting employees across India and leading to non-functional ATMs.
- Despite the financial crisis, there have been few resignations as the HR team has stopped processing resignations and issuing relieving letters.
- An executive vice president with pending dues of Rs 86 lakh has not received a response from the company's management even after sending a legal notice.
- AGS Transact's non-permanent employees, managed through a staffing solutions provider, have not been paid for over seven months, causing significant financial distress.
- The company faces personnel shortages and is unable to publish financial results on time, prompting discussions with lenders for loan restructuring and stake sales.
- AGS employees have come together to seek resolution for their dues, with some permanent employees also facing issues with provident fund contributions.
- Despite challenges, AGS Chairman Ravi Goyal assures employees that the company is not shutting down and is working on solutions.
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