‘Tarun was a loving father, son and a great friend…’: Bajaj Finance breaks silence on employee Tarun Saxena’s suicide due to toxic work

After an employee working for the financial services firm Bajaj Finance died by suicide on Monday due to undue stress and toxic working environment, the company has come out in the open to say that it has launched a thorough investigation into the matter.

In a statement, Bajaj Finance noted that the victim, Tarun Saxena’s passing was a ‘tragic loss’ and that the company was offering its full support to his family.

“Tarun was a loving father, son and a great friend who will be deeply missed by all who knew him. He was with our company for over 7 years and his loss is felt immensely by both us and his family,” the statement read.

Moreover, the company also pointed out that it has taken seriously the allegations of toxic working environment and, hence, has ‘relieved the concerned employees,’ placing them on administrative leave. Bajaj Finance further said that it has initiated an ‘unbiased’ and thorough probe into the circumstances that led to Tarun’s suicide. 

“Based on allegations, we have relieved the concerned employees of their current responsibilities and placed them on administrative leave, allowing for an unbiased and thorough investigation of the matter. We are also extending our full support to the authorities investigating the matter,” the company said.

“The company has well established policies of code of conduct that govern behaviour and conduct at the workplace; any deviation calls for strict disciplinary action. Our people practices are designed to create a culture of fairness, dignity, and respect. We’re committed to fostering a workplace environment that values and supports the well-being of our employees,” Bajaj Finance further added.

Tarun Saxena was working for the company’s EMI recovery division and was based out of Uttar Pradesh’s Jhansi. In a harrowing suicide note that he left behind, he spoke about the unhealthy work conditions in the office. He detailed in his note of how he was harassed to meet unrealistic targets, failing which he was threatened with a cut in his monthly salary. 

 “I have not slept for 45 days. I have hardly eaten. I am under a lot of stress. Senior managers are pressuring me to meet targets at any cost or quit,” he had mentioned.

Gaurav Saxena, Tarun’s cousin, speaking to India Today on Monday had detailed how Tarun was under severe stress put on him by his managers to increase the EMI collection. “Tarun Saxena was my elder cousin. He worked as an area manager at Bajaj Finance. The company had been pressuring him to bring in more collections from the market. When he failed to meet the targets, his salary was deducted. As we learnt earlier this morning around 6:00 am, Vaibhav Saxena and Prabhakar Mishra, who are based in Bhopal, held a conference with him and instigated him, following which he died by suicide,” he had said.

Tarun’s tragic suicide has reignited a nationwide outcry, particularly after the recent death of Anna Sebastian Perayil, a former Ernst & Young (EY) employee who succumbed to work-related stress. Earlier this month, a letter from Anna’s mother stirred up social media, drawing attention to the pressures of modern corporate culture. Addressed to Rajiv Memani, the letter voiced her heartbreak over losing her daughter just four months into her new job. She called on EY’s leadership to reassess a culture that seems to prioritize excessive work over the well-being of employees, lamenting that Anna often worked late nights and weekends without respite.

Rajiv Memani responded to the emotional plea, expressing deep sorrow. “As a father, I cannot fathom the pain Ms. Augustine is going through. My sincere condolences go out to the family, though I know no words can truly heal the immense loss they are facing,” he stated. His words acknowledged the grief but also highlighted the broader conversation about the toll of overwork in today’s fast-paced corporate environments.