While it is heartening to know that unemployment has come down across all education levels post the pandemic, it is disappointing to know that 42.5 per cent of educated graduates and above, in the less than 25 age group remain unemployed. Unemployment is more than 15 per cent for graduates while the it is in the range of two to three per cent for the less educated lot. About 22.8 per cent of those who are at least graduates are in the 25 to 20 age bracket. About 9.8 per cent belong to the 30 to 34 age group, while…
Author: HRK News Bureau
Before retiring, Alan Joyce, ex CEO, Qantas Airways, claimed incentives that he said had been long pending, which amounted to a whopping total of 872 per cent hike in pay! The airline, however, reportedly held back significant bonuses. Yet, Joyce is said to have earned A$21.4 million in FY 2023. The company’s recently-published annual report said Joyce had retired in early September, post a regulator case that was filed alleging that in 2022 Qantas Airlines sold tickets on about 8,000 flights that were already cancelled. This was a violation of consumer laws for which the airline is facing an Australian…
Harshvendra Soin’s latest promotion at Tech Mahindra will see him donning the mantle of president – APJ, telecom and enterprise business. Since 2019, he has been the global chief people officer and head marketing, corporate services, and people supply chain (RMG). His association with Tech Mahindra has been a long one though, starting way back in 2012, when he joined as global head – leadership acquisition and development, and head – business HR (APAC & IMEA). Almost four years later, he was promoted to senior vice president and country head – Canada, enterprise business. For the next seven years, he…
Infosys has announced its commitment to providing customers with accessible solutions for the seamless integration of generative AI technologies into their business processes. This integration is poised to offer enterprises the capability to harness the power of generative AI effortlessly. The company’s approach to this integration includes a holistic NVIDIA generative AI platform, which encompasses not only advanced hardware but also enterprise-grade software solutions. By implementing this platform across its own business operations, Infosys is well-positioned to assist its clientele in the development and deployment of generative AI applications. Furthermore, this collaborative effort between Infosys and NVIDIA extends its reach…
On 19 September, 2023, Bhawan Singh, president, HEC Majdoor Union, started out on a train journey for a collective cause that resonated deeply with the over 100 employees, including engineers, of the struggling Ranchi-based public- sector undertaking (PSU), Heavy Engineering Corporation (HEC). Singh made a announcement on the train to Delhi, stating that they all have common purpose — to gather at Jantar Mantar Road on 21 September. They were planning to protest against the injustice they had faced. During the protest, the protestors intend to hold up replicas of Chandrayaan-3 for the public to see, as a symbol of their invaluable…
Thousands of station employees working for London Undergound are planning to walk out on 4 and 6 October 2023, in protest against the poor work conditions and more than 600 jobs being cut. This will bring London’s tube service to a halt, as over 3,500 workers are set to participate in the walkout. Members of the Rail, Maritime and Transport (RMT) union have been expressing their disappointment at the job cuts being resorted to as a cost-cutting measure. The union members have been trying to highlight how these job cuts will hardly result in cost savings, but will cause immense…
An employee at Glance, a smart lock screen platform under InMobi, has levelled allegations of sexual harassment against a senior manager. The employee has also asserted that the company has not yet addressed the complaint filed. The said individual was an intern at Glance, serving as a UX designer and had a close working relationship with the manager. The employee posted the matter on his social-media account, accusing that the product manager within the team engaged in inappropriate physical contact and made unsettling remarks. He also posted screenshots of the email he sent to the authorities and the conversation he…
The Saudi Arabian National Labour Observatory ( NLO) has documented a substantial 45 per cent rise in the earnings of Saudi nationals working in the private sector over a span of five years. The current increase has raised the wage of private-sector employees to SR9,600 ($2,560), which is a notable increase from the SR6,600 ($1,760) recorded in 2018. The Labour Observatory also pointed out significant increases in the count of Saudi individuals receiving higher salaries. Specifically, there are presently 2,02,700 Saudi nationals earning more than SR20,000 ($5,332) every month, indicating a surge of 139 per cent since 2018. AaL surge…
To promote a holistic approach to employee wellness, Tata Elxsi, a global design and technology service provider, has introduced comprehensive perks. The aim is to provide a significant impact on overall employee job satisfaction and productivity. The organisation’s core belief in the importance of physical fitness for overall well-being is central to its mission. To emphasise this, it has collaborated with cult.fit, a popular fitness platform, to offer employees and their families discounted cult.fit membership cards. This membership will let the employees access a variety of fitness choices, including gyms, dance classes, yoga sessions, boxing lessons and more. Additionally, the…
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has recently ruled that there is no need to deduct TDS when granting an employee stock ownership plan. The bench noted that the primary purpose of TDS is to pay tax when one earns. The respondent/assessee operates in various business sectors, including automotive and industrial lubricants, domestic and commercial liquefied petroleum gas, miscellaneous products, and specialised fluids. The assessing officer believed that taxes should be deducted when the amount is recorded in the accounts. However, the assessee argued that the deduction should occur at the source when the ESOP becomes…
Out of the 31 months of pending salaries, the employees of the Garo Hills Autonomous District Council (GHADC) in Meghalaya, will now get payment for just two months. As per the state government’s announcement, the salaries will be credited into their accounts within the upcoming week. Regarding the overdue salaries, the Non-Gazetted Employees Association (NGEA) had issued a threat to initiate a strike if the overdue salaries of GHADC employees were not settled by 15 September. It was said that the strike would have essentially halted the operations of GHADC authorities in Meghalaya. The decision was then made after GHADC’s…
Today, the Delhi High Court is hearing a petition submitted by newly launched Akasa Air. It was not long ago that Akasa Air had revealed plans to expand its operations overseas. In July, the airline was talking of hiring 800 new employees by the end of the year 2023. Now media reports say that Akasa Air may have to consider shutting down altogether because many of its pilots have ditched the airline. Akasa Air has decided to drag 43 pilots to court for joining Air India Express, owned by the Tata Group, without serving their six months’ notice period. The…
Men who were working stressful jobs and not getting sufficient reward for the effort they put in are more prone to heart ailments than their counterparts who do not experience such stress. This was revealed in a study published in the journal ‘Circulation: Cardiovascular Quality and Outcomes’. As per the study, the two main psychosocial stressors that cause heart disease are stressful jobs and being paid less at work. In fact, men who were not adequately paid for their work and were stressed from work have 49 per cent higher chance of developing a heart condition than men who did…
While Amazon is set to hire 2.5 lakh people for full-time and part-time positions for its fulfillment centres and transportation divisions, Target will be adding one lakh people to its seasonal team. Together, the two companies will provide 3,50,000 seasonal jobs this holiday season. Amazon will invest over $1 billion to increase the average hourly wages for its seasonal hires. Amazon plans to hike the hourly wages to $28 per hour on average. Minimum hourly wage will be $17. It may go up to $28 depending on the location the employee is working in. Some new hires may even earn…
The state government has devised an extensive strategy to boost women’s involvement in the state’s workforce, with the goal of surpassing the existing 27 per cent participation rate. As reported by officials from the state’s labour, skill development, and employment departments, India records a labour force participation rate (LFPR) of 24.8 per cent for women, while in Gujarat, it stands at a slightly higher 27 per cent. Furthermore, government authorities reveal that women represent 27.2 per cent of the rural workforce and 18.8 per cent of the urban workforce across the country. In the state of Gujarat, these figures notably…
Marcellus Investment Managers, a portfolio-management firm, has suspended an employee for violation of the company’s code of conduct. Investigation is still to be completed.Meanwhile, the company has appointed one of the Big Four to look into the matter and analyse the situation and issues. The investors of the company have been formally informed of the matter via an email. The said junior employee will be facing action if proven guilty. The firm received information from a member of their workforce about the potential violation of code of conduct by the said employee. Till the investigation is over, the employee will…
On 18 September 2023, the Ministry of Finance granted approval to a set of welfare initiatives aimed at benefiting the agents and staff of the Life Insurance Corporation of India (LIC). These measures include an increase in the gratuity limit, extending eligibility for renewal commissions, and providing term insurance coverage. The Finance Ministry has raised the gratuity limit for LIC agents from Rs 3 lakh to Rs 5 lakh. It has also made reappointed agents eligible to receive renewal commissions. Currently, LIC agents do not qualify for renewal commissions on any business conducted under their previous agency. These measures are…
After hiring about 41,000 people to meet the demands of holiday shoppers, Macy’s is gearing up to hire 38,000 this year for the holiday season. This year, hiring will be lower than usual. In fact, it is reported to be lowest in the last 15 years. The growth in holiday sales in the US is expected to be rather slow. The American departmental store had hired about 71,000 people in 2021 to deal with the surge in demand during this period. The fall in hiring is attributed to the increase in labour costs and fall in consumer spending. People are…
The cloud-based American software firm, Salesforce, is reportedly planning to hire 3,300 people. It is apparently going to rehire about 40 per cent of its team members let go in the earlier layoff round this year. At the time, the tough economic environment and controlled expenditure by customers were cited as the reasons for the decision to let go 10 per cent of its workforce. Now, however, the company is looking for talent in the areas of engineering, sales and data cloud. It is no doubt encouraged by the $8.6 billion it generated in sales during Q2 of 2023. This…
Airtable, a platform that simplifies app development, has announced plans to let go of 27 per cent of its workforce. The layoffs will affect 237 employees. While employees across departments will be affected, the maximum impact will be seen on the product and sales divisions that deal with smaller clients. In December 2022, Airtable let go of more than 250 employees, that is, about 20 per cent of the workforce, spanning departments such as business development and engineering. This is the second round of layoffs in 2023. The decision is a part of the company’s strategy to concentrate on securing…
Elon Musk, owner of social- media site ‘X’ (formerly Twitter), has taken a firm stance on the issue of ‘free speech’ for X Corp. employees using the platform. Musk is now cooperating with requests from authorities in Germany to share more information about users in cases involving online hate crimes. He shared a tweet from X News Daily that mentioned German prosecutors saying that ‘X’ is now better at helping German authorities find users involved in hate speech cases compared to before the acquisition. In Germany, there are strict laws against hate speech, which includes defaming politicians and promoting white…
TikTok expects its working staff to return to the workplace, that is, the physical office. Starting October, the employees will be mandated to work from the office for a minimum of three days per week. For certain roles, presence in office will be mandatory for all the five working days. With this return-to-office mandate, the video streaming platform also intends to oversee its employees’ adherence to the new regulations. Any violations can potentially affect their annual performance evaluations. The company has revealed that it will be using an app to monitor employees’ attendance in the office. The app will be…
After eliminating 4000 roles in 2022, the US-based tech infrastructure firm, Cisco Systems is planning to cut more jobs in Silicon Valley. As a part of another round of layoffs, the company may let go of another 350 workers. The job cuts will affect many job roles at the company including engineers, managers and support personnel. As revealed by a recent submission to the California Employment Development Department, Cisco has planned to cut 227 job roles in San Jose and an additional 123 roles in the neighbouring city of Milpitas, California. The staff reduction will take place on 16 October, 2023. The…
Once again, Byju’s has chosen to defer the finalisation of severance packages for employees who were terminated between the months of September and November. This decision has been driven by the company’s ongoing financial challenges, which are the result of prior commitments made to lenders and an extended delay in securing essential funds through a fundraising initiative that has been pending for an extended period. The postponement of these severance packages highlights the complexities and constraints that Byju’s is currently navigating in terms of finances. The company finds itself caught between its commitments to lenders, who expect timely repayments, and…
Citigroup is taking measures on a substantial restructuring exercise, and employees working in compliance and risk management support roles are more likely to be under threat of job loss. Additionally, there is potential vulnerability among technology personnel engaged in functions that overlap. According to sources, Citigroup is currently in discussions with employees about possible job cuts, with one-on-one meetings already underway. This comes after the bank’s announcement to restructure its management and reduce its workforce, marking the most significant reorganisation in almost 20 years, all in an effort to boost profitability and stock value. As per the reports, a meeting…
Sikkim government has announced a significant raise in Dearness Allowance (DA), increasing it from 38 to 42 per cent. On 15 September 2023, the chief minister, Prem Singh Tamang, announced that the adjustment will be effective from January 2023. On 11 September 2023, the state government declared the reintroduction of the old pension scheme in the state, also regularising the ‘one family, one job’ in the near future. During a ceremony in Ravangla, located in the Namchi district, some more significant announcements were made by the state government: The government pledged a commitment to upgrade Debrung Road to enhance the road…