Wateen has been hit by financial crisis, lately, as told by sources with-in and close to company. WiMAX provider has reached its lower limit in terms of cash in hand, and undergoing large scale financial issues.
Reportedly, work force is also suffering due to this, as some employees are still waiting for their salaries this month, at the time of filing of this report. As per company sources, salaries were not given as per usual routine, instead work force was divided into three segments,
1 – Those with below Rs. 30,000 Salary
2 – Those with below Rs. 75,000 Salary
3 – Those with above Rs. 75,000 Salary
We are told that category one and two were given late salaries, while category three employees are yet to be paid.
We have reported earlier that Wateen has been looking for funds injection, while it has failed doing so in its recent talks with couple of foreign companies.
It is extremely important, as well crucial for management to arrange for something before company hit another calendar month.