Rajesh Gupta has assumed the role of vice president – human resources, Future Generali India Insurance Company. He brings with him a wealth of experience spanning over two decades as an HR generalist, having managed HR functions across various industries in both multinational corporations and startups. His career journey includes significant roles at companies such as Cipla, Wockhardt, Intelenet Global Services, Future Generali India Life Insurance, A&A Business Consulting and most recently, Nuvoco Vistas Corp. His professional journey began as a member of the personnel team at Cipla in 1995, followed by a role as an officer – personnel and…
Author: HRK News Bureau
Today, Reality Labs, the materverse-oriented division of Meta will be informed of a round of layoffs. This division that creates custom silicon has revealed the plan on an internal discussion forum. The employees will be formally notified now. The exact number of people to be let go is not officially known yet. However, the reduction in headcount is expected to impact the creation of AR/VR products crucial to access the metaverse. The Facebook Agile Silicon Team, referred to as FAST, has about 600 members. They develop custom chips for Meta devices and give them the much-needed edge over competition. Meanwhile,…
That Mahindra cares for its women, especially those on a motherhood journey, is clear from its latest 5- year maternity policy. This policy is designed to allow women to play excellent mothers to their children without losing out on professional growth opportunities. Going all out to support #MothersOfMahindra, the five-year inclusive maternity policy promises the women a stress-free motherhood experience. As part of the pre-childbirth support offered for a year, the policy reimburses 75 per cent of the cost incurred on two IVF treatment cycles. The expectant women can travel premium economy within the country and business class for international…
General Motors is planning to let go 164 workers at its stamping plants in India, Ohio and Parma. However, as long as the assembly lines of GM continue to function, most workers at these plants will have enough work and need not fear being laid off. Ford, on the other hand, has let go about 330 workers at its stamping plant in Chicago and at its Lima engine plant when a strike was announced at its assembling plant in Chicago. Since all the production work at the plants is linked, the strike has had a ripple effect and disrupted work.…
One 97 Communications, the parent entity of Paytm has granted 27,687 shares to its employees. The company made the announcement in a regulatory filing on 2 Oct. 2023. Each of the shares will have a face value of Re 1. The filing revealed that a total of 3,029 shares were issued as part of the Employee Stock Option Plan 2008, while the remaining 24,658 shares were distributed under the Employee Stock Option Plan 2019. This allocation is said to be carried out following approval from the Nomination and Remuneration Committee of One 97 Communications’ Board. After the distribution of shares,…
Dunzo, the grocery-delivery service that is in the middle of a financial crisis, is expecting another top level exit from the business. As per media reports, Mukund Jha, co-founder and chief technology officer (CTO), Dunzo, may depart from the company, but Dunzo denies the claim. Jha has been part of the company since 2015. The move has been anticipated in response to the series of notable departures at the quick- commerce startup. In the last two months, the platform has witnessed the departure of approximately five board members. The initial resignations occurred on 3 August, when Ashwin Khasgiwala, the group…
That artificial intelligence (AI) can dramatically transform the way we work is quite clear. But can it reduce the workweek to 3.5 days? Well, Jamie Dimon, CEO, JPMorgan, believes that not only will AI improve the workplace and productivity, but it will also cure cancer and bring about such changes that people may require to work only 3.5 days a week. Dimon expressed his thoughts during an interview with Bloomberg TV, praising the potential of technology to bring about significant enhancements in the quality of work life, even if it may come at the cost of doing away with certain…
After a successful 16-year long tenure at Bajaj Allianz General Insurance, Saptarshi Bhattacharya has joined Motilal Oswal Private Equity as executive group vice president and chief people officer (CPO). Saptarshi, who holds an MBA in human resources from the Army Institute of Management, Kolkata, began his career with Bajaj Allianz in 2007, as a management trainee. Within a year he was elevated to assistant manager HR analytics and talent acquisition. Less than two years later, he was promoted again and became deputy manager – HR analytics and talent acquisition. In this role, among other things he handled all kinds of…
On 1 October 2023, the Ramlila Maidan in Delhi was witness to a huge gathering of employees of the Central government and 20 state governments seeking restoration of the Old Pension Scheme or OPS. The rally which saw participation from thousands of employees— who were worried about their future after retirement —was organised under the aegis of the Joint Forum for Restoration of Old Pension Scheme (JFROPS) and National Joint Council of Action (NJCA). Employees whose service began post 2004 are not in favour of the New Pension Scheme, as the scheme has been imposed on them making them lose…
Tata Consultancy Services (TCS) has discontinued work from home for its employees. It has put an end to the hybrid work model too by mandating that employees work from office five days a week starting 1 October 2023. As per media reports, those who were earlier coming in to office thrice a week will have to start coming in five days. There is no choice given in the matter. Earlier this year, TCS had issued a warning to its employees to comply with the company’s work-from-office policy, apart from asking them to work in the office for three days a…
The Ministry of Civil Aviation (MoCA) has introduced a range of initiatives to strengthen the institutional framework and enhance the workforce in critical aviation organisations, incluidng the Directorate General of Civil Aviation (DGCA), the Airports Economic Regulatory Authority (AERA), and the Airports Authority of India (AAI), according to officials. The DGCA, which oversees and regulates civil aviation in the country, is in line to receive a substantial increase in its workforce. A total of 416 new positions have been created within the DGCA, marking a significant stride in ensuring safety and adherence to regulations within the aviation industry. This expansion…
The Assam government has hiked the wages of tea garden workers in the Brahmaputra and Barak valleys by Rs 18. Starting 1 October 2023, workers in the Brahmaputra Valley will earn Rs 250 per day instead of the Rs 232 they were earning since 2022. The workers in the Barak valley will earn Rs 228 instead of the earlier Rs 210 per day. The workers will also get a 20 per cent bonus on the occasion of Durga Puja. That is not all. The tea garden workers and the adivasi population will enjoy a three per cent reservation in government…
Epic Games, the maker of the survival battle royale game, Fortnite, is laying off 16 per cent of its workforce. The move is part of the company’s efforts to stabilise its financial position. The current layoffs will affect 870 employees, primarily the teams that are not directly involved in core development. In an official memo to employees, Tim Sweeney, CEO, Epic Games, revealed that the company has been spending more money than it has been earning, directing its investments towards the future development of Epic and the expansion of Fortnite into a metaverse-inspired ecosystem for creators. The memo highlighted that…
Wheebox, the fully-owned subsidiary of human resource tech firm, PeopleStrong, has been acquired by ETS, an independent nonprofit organisation that helps learners access opportunities via skills measurement. The acquisition was led by Strategic Capital, the private equity investment and merger and acquisition execution arm for ETS, its subsidiaries and its partners. Wheebox will continue to function independently as a majority-owned subsidiary of ETS, the non-profit educational research and measurement firm. Education research and assessment are key to ETS’ operations, and by acquiring Wheebox’s scalable assessment and remote proctoring engine, a credible research study such as the India Skills Report, ETS’…
UST, a multinational digital technology and transformation company, has come up with a unique way to empower its employees. The global firm has started imparting training in a martial art form of Kerala to its employees working at its Thirvnanthapuram campus. More than 120 employees have joined the ‘Kalaripayattu’ training of which 50 have already been fully trained. The employees are being taught by Gurukkal Dr S Mahesh, who is a fifth generation master or guru who was a disciple of the esteemed Agasthyam Kalari that has been teaching the martial art form for more than a century. The training…
Snap, the parent company of Snapchat, is reportedly planning another round of layoffs, with approximately 150 employees expected to be affected. This move is part of a restructuring exercise within Snap’s augmented reality (AR) division, marking the second round of layoffs this year. Snap has faced financial challenges and investor concerns, leading to these job cuts. However, it’s important to note that this round of layoffs primarily targets Snap’s AR division and is seen as a strategic reorganisation rather than a complete shift away from AR strategies. Evan Spiegel, CEO, Snap, initiated significant layoffs in 2022, affecting 20% of the…
Sintex BAPL, a wholly-owned subsidiary of Welspun Corp. has entered into a formal agreement with the Government of Telangana to establish a manufacturing unit in the state. A memorandum of understanding (MoU) was signed to this effect. The unit, which is being set up under Telangana’s incentive scheme, will require an investment of Rs 350 crore over the next three years and will create 1000 jobs in the state. The plant will manufacture water tanks and PVC pipes in Telangana. The company is growing rapidly in the water tanks segment and plans to begin manufacturing pipes, including PV pipes and…
Workers in Greece will soon be working for six days a week with flexible working hours. The Parliament of the country has given its nod to the new labour law that introduces the same. The majority, that is, 158 out of the 300 legislators voted for the law, while the rest voted against this reform. The law, it is hoped will give a push to employment, in general, and will help tackle undeclared work and also offer flexibility. It will permit full-time workers to even take up a part-time side hustle if they so wish, for only up to five…
SILA, a real-estate platform, has recently roped in Sakshi Shahapure to assume the role of group head – human resources within the organisation. Here, she will help grow the team and work on employee development and well-being. With over two years of expertise in human resources, Shahapure has worked across several sectors including retail, ecommerce and real estate. Prior to joining SILA, she was associated with Reliance Jio Mart and led its human resource business partner team. Through this role she was instrumental in building a significant portion of the business and ancillary teams. She has also worked with companies…
Procter & Gamble India (P&G India) partnered WEConnect International to conduct the next edition of the Women Entrepreneur Development Programme (WEDP). Over 30 women entrepreneurs, selected via an application process, successfully completed the two-day programme aimed at capacity development. The holistic programme saw senior leaders from P&G conduct trainings and workshops with real-time case studies on various aspects of building a sustainable business including professional skills such as business strategy, finance capital, new customer outreach, as well as strategic inputs for driving business growth. The programme also provided women entrepreneurs an opportunity to explore business opportunities with P&G. The firm…
Number of employees taking sick leave has reached a record high in the UK. On an average, employees reportedly took 7.8 days of sick leave. This is not just the highest since 2008 but also a lot higher than before the pandemic. This data came from a research report by Simplyhealth and the Chartered Institute of Personnel and Development (CIPD). The increased sick leaves are definitely leading to challenges for employers when it comes to attracting or retaining talent. Add to it the issues arising from the tightening labour market. What is worrisome is that in the last one year,…
With more and more people spending higher amounts on travelling for leisure as well as business purposes, the travel and tourism sector has witnessed a 44 per cent jump in hiring. According to a Foundit report, 23 per cent of the top job roles in demand across the travel and tourism industry are in sales and business development, 12 per cent in software and electrical engineering and eight per cent in marketing and communication. Freshers are more valued, as they are cost-effective, adaptable and ready to embrace new technologies in the industry, including artificial intelligence (AI) and augmented/virtual reality. Gig…
Infosys is preparing to launch a new appraisal cycle for the current fiscal year. However, according to reports by ET, some employees are uncertain about their salary increases from the previous year’s performance evaluation. The annual performance assessment for Infosys staff spans October to September. The procedure begins with a self-assessment, scheduled for 29 September 2023. Following that, managers are expected to complete their evaluations by the end of October. Employees usually receive their final performance ratings in the first week of December, while any salary adjustments resulting from these ratings are typically implemented in their paychecks in June or…
‘Does your mother-in-law stay with you?’ ‘How supportive is your mother-in-law when it comes to you pursuing a career?’ Could these be some of the questions employers may consider asking married women candidates appearing for job interviews or single women employees in line for promotions? There is no reason for married women to opt out of the active workforce. However, in India, it is quite common for married women to stop working because taking care of the household becomes priority. This is where the presence of the mother-in-law plays a role, suggests the State of Working India 2023 report by…
As a part of its rationalising plan, Goodyear Tire & Rubber, the American tyre manufacturing company, has announced to reduce its workforce by 700 employees. The company has also decided to divest approximately 100 retail stores and fleet locations for its Asia-Pacific division. Earlier this month, the company announced massive layoffs for Europe, the Middle East and Africa,resulting in a reduction of 1,200 positions. This move was aimed at enhancing the operating income by an about $50 million to $55 million by 2025, as reported by Reuters. The move is also expected to increase profitability in its Australia and New…
The strike by writers that shook Hollywood and brought all production work to a halt for about 150 days, has come to an end. Negotiations between the Writers Guild of America and the Alliance of Motion Picture and Television Producers has finally borne some fruit. At last, a deal has been arrived at. The deal will be valid till May 2026, and will include a minimum pay hike of five per cent on ratification of the contract. A four per cent bump will take place in May next year, followed by yet another three per cent hike a year later,…