Celebrating the ten-year anniversary of Telangana on Monday, the state government announced a hike in the dearness allowance (DA) provided to its employees. Additionally, the government has also announced a raise in dearness relief (DR) offered to pensioners in the state. As per the official notice issued by the state government, DA has been increased from 20.02 per cent of the basic pay to 22.75 per cent., On the other hand, the DR for former government employees has been revised from 55.536 per cent to 59.196 per cent of the basic pay, effective from January 1, 2022. Moreover, the revised…
Author: HRK News Bureau
Chingari, a short video streaming application in India, has announced plans to lay off 20 per cent of its employees in an organisational restructuring process. Chingari, which shares a similar concept to Instagram and Snapchat, provides a platform for users to create and share short videos. It gained popularity when India banned all Chinese apps including TikTok in June 2020. A spokesperson told Business Today that the company deeply regrets the layoffs due to organisational restructuring and expressed sympathy towards the affected employees and gratitude for their contribution. The company plans to support its laid-off employees by providing two months’…
Justdial, an India-based search engine and online directory, has allotted equity shares to its employees as part of the employees stock option schemes (ESOPs). According to the company’s exchange filing, a total of 68,303 equity shares have been allotted to employees on Monday, 19 June, 2023. The face value of each equity share is Rs 10. Moreover, out of the total shares allotted, 67,974 options were wielded at Rs 10 each, while the remaining 329 options were wielded at a higher price of Rs 80 each. This indicates that employees have chosen to exercise their stock options at different strike…
In a bold move, an anti-woke company has introduced a unique initiative called the ‘baby bonus’ for its employees, emphasising the importance of supporting families. The decision has been made in an attempt to combat the prevailing corporate trend of promoting abortion over maternity leave. Under the program, PublicSq., a US-based company, is providing a generous $5,000 bonus to any employee who becomes a parent through birth or adoption. Michael Seifert, CEO and founder, PublicSq., recently shared the details of this new policy that supports the overall well-being of his company by supporting the families of their employees. He also…
Himachal Pradesh’s Department of Labour and Employment has developed an electronic employment exchange management information system or eEMIS. This system aims to make the registration process at exchanges paperless, and does away with the need to visit the employment exchanges physically. This is a step in the right direction as part of the ‘Vyavastha Parivartan’ in the employment exchanges of the state. This online registration facility will be of great benefit to youth from the remote areas who will not have to spend time, effort and money to travel long distances to register themselves at the employment exchanges. They will…
It has hardly been a week since staff at Disneyland Paris disrupted operations leading to several shows and events being cancelled and various attractions being closed for the entire day. Now, the cast members are on strike again claiming that this so called land of magic and dreams is far away from what it appears to be. Most of the disgruntled staff belong to the maintenance, security and hospitality divisions. This is probably the first strike in over two decades at Disneyland Paris. The workers at this popular tourist destination claim that their struggles are increasing with each passing day,…
Coal India has recently announced an employee offer for sale (OFS) in which it will sell more than 92 lakh equity shares from June 21 to June 23, with an expected fundraising of approximately Rs 209 crore. This OFS is equivalent to 0.15 per cent of the company’s overall paid-up equity. During this OFS, eligible employees will be allowed to purchase up to 92,44,092 equity shares at Rs 226.10 per share, each having a face value of Rs 10. The aim behind this move is to involve the company’s workforce in its growth and overall success. The government sold 18.48…
Byju’s, the edtech platform, has been trying to streamline operations, cut costs and improve profitability for some time now. As part of its attempts, the company has decided to let go at least 500 employees. The number may well be 1,000, but official figures are yet to be revealed. It appears the company has let go about 3,500 employees from its workforce till now. About 10 days ago, Byju’s was reportedly considering axing about 1,000 jobs amidst a financial crisis. At the time, it was said that the sales and marketing teams would bear the brunt of the cuts. This…
Axtria, an IT firm, is set to expand its operations by hiring 1000 techies in the country for its offices in Gurugram, Bengaluru, Noida, and upcoming centres in Pune and Hyderabad. The company is actively hiring data scientists, software developers, and data engineers and is also in talks with placement agencies of prestigious engineering and management colleges. This recruitment process will be done in the next eight to ten months. Shikha Singhal, head of people practices, Axtria, highlighted the importance of candidates possessing the right skills, particularly in solving complex problems and implementing end-to-end machine learning systems. These individuals will…
Mojocare, a health-tech startup, co-founded by Ashwin Swaminathan and Rajat Gupta in 2021 has reportedly laid off 150-170 employees. That means, the direct-to-customer or D2C service platform, which offers doctor consultations, solutions for health issues and health products, has let go about 80 per cent of its workforce. These layoffs have come to light amid allegations of financial irregularities within the company. Now concerns are being raised regarding their financial practices and overall management. Worried investors such as Sequoia Surge, B Capital, and Chiratae Ventures, who have put their trust and funds into Mojocare, have initiated steps to re-examine the company’s financial records.…
After some shareholders stated that they thought that the salary of Anil Rai Gupta, chairman and managing director, Havells India, was too high in absolute terms and way higher than his peers, the company has issued a clarification. As per the shareholders, “the total promoter remuneration was Rs 385.9 mn and Rs. 369.2 mn in FY22 and FY23 respectively, which is high in absolute terms”. The shareholders had sought that the matter be discussed in the upcoming annual general meeting on 27 June 2023. The company, meanwhile, has justified Gupta’s salary in its regulatory filing, by clarifying that the overall…
Mamaearth, a skincare brand, is set to lay off approximately 80-100 employees from its subsidiary Momspresso’s brand marketing department. Momspresso operates across three key business segments and provides a diverse range of services. Firstly, it serves as a dynamic platform where users can share their personal parenting experiences through blogs, fostering a vibrant community of parents. Secondly, Momspresso provides comprehensive brand marketing services, enabling businesses to effectively reach their target audience. Lastly, the subsidiary operates MyMoney, an influencer engagement platform that connects brands with social media influencers to promote products and services. According to sources, the skincare company has decided…
Eskom, a South-Africa based electricity supply commission, has signed a three-year wage agreement with its recognised trade unions. The company along with its unions will raise the salaries of its non-managerial employees by 7 per cent, over a period of three years. Along with the wage hike, the parties involved have also agreed to give a 7 per cent increment in the housing allowance over the same period. Additionally, there will be a one-time taxable payment of R10,000 (approx $547.44) for the initial two years. The wage hike will be implemented from 1 July 2023 until 30 June 2026. In…
In a decision by Karnataka government, employees and officers working in the State-run road transport corporations (RTCs) will now get a 15 per cent hike in their salaries. The decision was approved by the state government on Thursday, June 15, 2023, during the cabinet meeting. The decision has been made after the chief minister, Basavaraj Bommai, made an announcement to raise the basic pay of RTC employees in the month of March 2023. H.K. Patil, minister, parliamentary affairs, told the media that the decision to raise salaries was a pledge made by the Congress party before the elections. During the…
Infosys, a multinational IT company, has introduced a new work policy for its employees based in the United States and Canada. The company has mandated a five-day work week requiring employees to be physically present in the office. Approximately 30,000 employees in these two countries will be affected by this policy change. Infosys has also made it clear that working remotely will only be allowed under special circumstances with prior permission. Infosys has also issued a warning to its employees regarding the consequences of non-compliance with the new work policy. Failure to adhere to the policy may result in disciplinary…
Rom Kosla has been appointed chief information officer (CIO), Hewlwett Packard Enterprise (HPE). He moves from Ahold Delhaize USA, where he was serving as EVP and CIO since April 2021. Having studied computer science at Cleveland State University, Kosla acquired an MBA from the University of Illinois Urbana – Champaign. His professional journey began with National Auto Credit, where he joined as a business analyst in 1994. A year later, he moved to Nestle, as project manager / integration architect, based out of Cleveland, Ohio. Six years into this role, he was elevated to manager, SAP customer development and middleware…
Campus Activewear has assigned a total of 111,677 equity shares to its employees under the Campus Activewear employee stock option plan 2021- Vision Pool. Each equity share will carry a face value of Rs 5. Following this allocation, the company’s paid-up capital has risen to Rs 152,45,90,025, which consists of 30,49,18,005 fully paid-up equity shares. This increase in paid-up capital not only indicates the strengthening financial position of the company, but also reflects on its future growth prospects, as well as a positive market sentiment and confidence in its business performance. As of Friday, the shares of Campus Activewear were…
Veeam Software, a company specialising in data protection and ransomware recovery, has appointed Kacy Hassack as its chief people & culture officer. With a career spanning over two decades, Hassack will spearhead various aspects of human resources such as talent acquisition and development, leadership training, fostering diversity, equity, and inclusion (DEI) initiatives, and enhancing employee engagement. Before joining Veeam, Hassack was serving as the vice president, global human resources, Indeed. Moreover, she has held many leadership positions at renowned global technology companies such Amazon Web Services, Hewlett Packard, and Dell. Her longest stint was with Dell where she was associated…
Accenture, the global consulting firm, has been recognised for its efforts to support the hormonal health of its employees as part of its endeavour to create an inclusive workplace culture. The accreditation — ‘Henpicked: Menopause in the Workplace’— acknowledges Accenture’s dedication to addressing menopause as an important workplace issue and implementing effective policies and practices around the same. The initiatives introduced by Accenture to ensure employees’ hormonal health and overall well-being, include a digital healthcare app that helps and supports those undergoing early parenthood, menopause or fertility issues. Employees are able to receive advice from menopause experts through chat and…
A differently abled assistant sub inspector’s (ASI) plea for promotion was dismissed by the Bombay high court recently. This ASI, of the central reserve police force (CRPF), who had been diagnosed with schizoaffective psychosis and had an 80 per cent mental disability, challenged the decision that excluded him from the list of promoted candidates for the position of assistant commandant (Ministerial). In the past, the petitioner had been removed from his position, but he successfully challenged his removal before the Guwahati High Court, which ordered his reinstatement from the time he left, and the reimbursement of outstanding dues. This judgement…
Oracle, the American multinational software company, has axed hundreds of jobs in its health unit. It has also withdrawn several job offers and cut back vacancies as per an Insider report. It is pertinent to mention here that employees had not received any promotions or increments this year and had also been told that they shouldn’t expect any hikes either. In May 2023, more than 3,000 employees had been laid off from Cerner, the health unit of Oracle, which is an electronic medical records firm that was acquired by Oracle for $28.3 billion in December 2023. Employees across the marketing,…
TrueCar, an automotive digital marketplace based in the US, has recently made significant announcements regarding its restructuring efforts. The company has decided to lay off approximately 24 per cent of its workforce, which accounts for around 102 employees. This workforce reduction is part of TrueCar’s strategic initiative to align its cost structure with its revenue base, ultimately aiming to enhance operational efficiency and agility. In addition to the workforce reduction, TrueCar has undergone a leadership transition as Michael Darrow, the former President and CEO, steps down from his executive positions. Taking over these responsibilities is Jantoon Riggersman, who brings extensive…
Adithiya Venkataraman, who was AGM – compensation and benefits, talent acquisition at Ashok Leyland, has now joined as chief human resources officer, Hinduja Renewables. Venkataraman began his professional journey with Ashok Leyland, way back in 2010, as an executive trainee. A year into this role, he was elevated to deputy manager – operations, based out of Hosur. By 2012, he became deputy manager – quality, an assignment that took him to Jabalpur. Less than a year later, he was back in Hosur as deputy training manager. From 2014 to 2015, he was training development manager, working out of Hosur. In…
A recent report titled ‘Women and Ageing: Invisible or Empowered?’ sheds light on various aspects of the lives of older women, including elder abuse, discrimination, financial resources, employment, healthcare, and safety. The report, released by HelpAge India on the occasion of World Elder Abuse Awareness Day, focused on older women in Bengaluru. According to the report, about 33 per cent of senior women in Bengaluru are engaged in either full-time or part-time employment. Encouragingly, 85 per cent of them stated that they worked in an employment-friendly environment. Financial security was mentioned by 6 per cent of senior women, attributing it…
In a move to retain young talent by promoting flexible working, Samsung has announced an additional day off for its employees. The South Korean chip-maker announced on Tuesday that its employees will enjoy a more flexible schedule, with the option to have one Friday off a month. Under the new policy, all Samsung employees will have the opportunity to take a Friday off during the week of their payday, which typically occurs on the 21st of each month. Additionally, this policy will cover employees who work between 160 to 168 hours per month, such as its non-factory and full-time employees.…
Goldman Sachs, an investment banking company, is set to lay off around 250 employees from 30 banking positions in Asia due to difficult market conditions. This is the company’s third round of layoffs since late last year. In the first round, in September, it laid off hundreds of employees and earlier this year, in January, around 3,200 employees. The process began on Wednesday, and mostly China-based bankers faced the brunt of the layoffs, as nine equities capital markets bankers based in Beijing and Hong Kong were let go, including a managing director. Back in February, the investment banking firm shared…