The launch of Tresvista’s CFO Office Services Academy represents a significant milestone in the company’s ongoing endeavours to empower its employees, nurture future leaders and ensure their continued success in an ever-changing corporate environment. In order to foster growth and holistic development, TresVista has crafted an industry-leading training programme known as ‘The Catalyst Programme’, catering to interns, newcomers, first-time managers and employees who have recently been promoted. The CFO Office Services Academy highlights TresVista’s commitment to fostering top talent and nurturing future leaders within its core services. This academy, complementing the existing research and information system (RIS) academy, specialises in…
Author: HRK News Bureau
It was only in the third week of September that Qualcomm had revealed its intention to reduce headcount at its Shanghai office. Now, the technology company is reportedly readying to axe about over a thousand employees from its 51,000-strong global workforce. This time, the cuts are happening at its offices in California, that is, in San Diego and Santa Clara. The company is expected to offer significant severance packages to the impacted staff members. Reports say that by the second week of December 2023, about 1,064 will be let go from the San Diego office, while about 194 will be…
Amid the festive season, the Central Government may be preparing to raise the dearness allowance (DA) and dearness relief (DR). The raise will be effective for the Central government employees in accordance with the 7th Pay Commission. According to reports in the media, there is speculation that the Central government is contemplating a 4 per cent increase in DA, which could potentially elevate the existing 42 per cent to 46 per cent. The approval for the heightened DA will be sought during a cabinet meeting, following which employees will see their pay going up. This means that for a basic…
In an official email to employees, Accenture, the IT firm has communicated that there will be no salary increments for its Indian and Sri Lankan workforce in 2023. The decision coincides with the challenges faced by the IT sector and Accenture’s growth having fallen short of its original projections. This update was conveyed to the employees by Ajay Vij, managing director, Accenture India. The email indicated that individual performance bonuses will also be awarded based on contributions, although they will be considerably less than the previous year. Moreover, the company is curtailing promotions. Promotions up to the associate director level…
Ina Bajwa, who has been leading the human resources function at Tata Communications as its vice president, has moved on after a successful nearly ten-year long tenure. She initially joined Tata Communications in 2013 as the director and global head-HR for various departments such as products, digital, technology and corporate functions. Bajwa announced the news on LinkedIn and appreciated all the people who made her journey remarkable at Tata Communications. She did not reveal her future plans though, but hoped everyone would stay in touch with her and wish her well, “as I gear up for my next adventure (more…
Amidst dwindling subscriptions and advertisements, The Washington Post is looking to axe 240 jobs. It plans to bring these job cuts into effect by offering voluntary buyouts to its employees this week. As per media reports, Patty Stonesifer, the interim chief executive officer, The Washing Post, has already conveyed this plan to the company’s 2,600 employees via an official e-mail. The newsroom itself employs 1,000 people, and the expected losses this year are about $100 million. The organisation — owned by Jeff Bezos, founder, Amazon — has felt the need to take a serious look at its costs and expenses…
The RPG Group has announced Anant Goenka as the vice chairman of its diversified organisation. In this expanded role, Goenka will maintain his positions as the vice chairman of CEAT and Zensar Technologies, thereby fortifying the leadership within the group. This strategic move ensures stability and long-term continuity for the Group, which is highly regarded for its commitment to corporate governance and a people-friendly value system. Harsh Goenka, chairman, RPG Group, expressed his confidence in Anant’s abilities, emphasising his extensive experience in steering CEAT towards performance excellence over the past decade. He believes that Goenka is well-equipped to usher in…
Tata Consultancy Services (TCS) admits that post mandating that its staff return to office full time, 70 per cent of its employees have started doing so. It is urging the rest to also follow suit because the firm realises that integration of the old employees with the new hires — who haven’t had the chance to work from the office at all — is essential. Also, the company has started experiencing the benefits of in-office work with increased interaction and collaboration not only amongst employees but also with customers. Additionally, in-office work appears to be the best and only way…
Walmart has gone ahead and proved its commitment to the health and wellbeing of its employees. The American multinational retail company has announced virtual primary care services for its associates. The company is extending the care coverage through its employee health insurance programme to employees in 28 states across the US. With this, the company, headquartered in in Bentonville, Arkansas, aims to recognise the difficulties its staff members encounter and the mismatch between the demand for primary healthcare and its availability. The initiative will offer the employees traditional telehealth service for occasional sick visits, including virtual care options for digestive health and…
Emphasising the significance of maternity rights, the Delhi High Court stated that no woman employee can be deprived of this right based on the nature of employment. The case involved a female attendant working on a temporary basis at a Delhi University hostel. According to her petition, her contract was extended for six months, from 2 July to 31 December of 2022. During this period, she requested maternity leave, which was granted by the authorities and was scheduled from 5 May to 4 November. Nonetheless, the woman did not receive her salary during her maternity leave period. Subsequently, she was…
Onsurity, an employee healthcare services company, has successfully secured $24 million in its Series B funding round, with the International Finance Corporation (IFC) taking the lead in this investment. Existing investors Nexus Venture Partners and Quona Capital also participated in this funding round. The insurtech startup plans to allocate these funds towards enhancing its collaboration with insurance partners to streamline the claims process for its members. Furthermore, the capital injection will support Onsurity’s ambitious goal of forming partnerships with over 50,000 companies. The Series B funding marks the company’s return to the fundraising scene, with a two-year gap since its…
Gland Pharma, the pharmaceutical company in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, announced the allocation of 1,100 fully paid-up equity shares with a nominal value of Re 1 each to eligible employees. This allocation, following the exercise of stock options under the Gland Pharma employee stock options (ESOP) scheme in 2019, increased the company’s issued, subscribed and paid-up share capital to Rs. 1,64,701,923, comprising 1,64,701,923 equity shares with a face value of Re 1. Nippon Life India Asset Management (formerly Reliance Nippon Life Asset Management), an asset management company has approved equity share allotments under two…
Backed by a global capital firm, Synapse, a San-Fransico based financial technology startup, intends to cut 40 per cent of its staff. The startup is headed by Sankaet Pathak, CEO, Synapse, who is of Indian origin. The decision will affect 86 roles at the tech startup. The company mentioned that the decision is a part of its reorganising strategy, specifically for its overstaffed departments and duplicated roles. With this, it aims to move further towards its growth trajectory. As per media reports, the company has confirmed that one of its major clients, the business banking platform, Mercury, would not be…
A legal matter was brought before a division bench of the High Court, presided over by Chief Justice Alok Aradhe and Justice NV Shravan Kumar, following a public interest litigation (PIL) related to concerns surrounding the non-payment of the updated minimum wage rates. The PIL specifically addressed issues pertaining to 73 scheduled employments. In the court proceedings, the government’s legal representative clarified that the government orders were under review due to objections from various industries and establishments. This situation originates from a significant Telangana High Court directive, instructing the state government to revise minimum wage rates in accordance with the…
There appears to be worrisome news for workers of Coal India. Globally, the coal industry is set to witness several mine closures as cheaper sources of power such as wind and solar power come to be more commonly used. The coal sector across countries will be hit depending on whether they have relevant policies in place and the kind of policies they adopt to phase out coal usage/mining. This does not augur well for the 74,800 workers directly employed by Coal India whose jobs are in danger till 2050. It is said that for every direct workers, there are about…
To deal with the ongoing strike, General Motors (GM) has presented a proposal to the United Auto Workers (UAW) union members. The contract will rise the wages of most senior workers by 20 per cent. The workers have been on strike for more than three weeks. The agreement will make their hourly pay around $39.24, which is roughly $82,000 a year. Additionally, the company has promised to bring back cost of living increases and improve work-life balance, as reported by WEYI Mid-Michigan NOW. The strike began on 15 September, 2023 at Ford, GM, and Stellantis (Chrysler) with about nine per…
Bill Ackman, billionaire hedge-fund manager and CEO, Pershing Square Capital Management, has openly disapproved of certain students from Harvard University who have made statements blaming Israel for the for the Hamas’ attack. Ackman sees these statements as an act of condoning terrorism and says the involved students should not be given corporate jobs. He is not the only one who now wishes for these students to be blacklisted so that nobody hires them. Other CEOs have also come forward to show their support in condemning these students. In the middle of this controversy is the statement by the Harvard Undergraduate…
PASSION BEYOND WORK I travel, explore new places and experience the local culture. I absolutely love to taste the local cuisine and appreciate the heritage — art, architecture, history and culture — of the places I visit. MORNING ROUTINE I start my day with an early morning walk/workout. Getting ready for office takes time as I like to be well dressed and coordinated, which means ensuring that the entire outfit and footwear match. If it’s a Mon, Tue, Thu or Sat I do try and visit the temple. It’s a long drive to work so I use this time to…
Sony Interactive Entertainment has officially acknowledged a data breach in June 2023, impacting 6,791 of its staff members and leading to the unauthorised disclosure of their personal information. The company has taken steps to notify the affected individuals and has pledged comprehensive support to assist them. In late May, a data breach hit Sony, with unauthorised access on May 28, just three days before Progress Software, the makers of MOVEit, alerted Sony about the vulnerability. Sony took swift action, discovering the breach on June 2, 2023, leading to the exfiltration of 3.14GB of data from an internal testing server in…
Gig platform, PickMyWork, has managed to extend its reach to more than 20 states, giving job opportunities to more than eight lakh gig workers. The platform is pursuing a target of 10 lakh by the end of 2023. About 12 per cent of the platform’s gig workers belong to Maharashtra, while 10 per cent belong to Uttar Pradesh. Karnataka comes in third accounting for eight per cent of the available gig workers, followed by Delhi, Andhra Pradesh, Tamil Nadu, Telangana, Haryana and even Punjab. Now that services are being offered in seven regional languages, language barriers have been overcome and…
The ‘Swiggy unit’ under Maharashtra’s workers’ union, Rashtriya Karamchari Sena, is on an indefinite strike. The delivery personnel working for the Bengaluru-based food-delivery aggregator are seeking better pay as well as improved working conditions. This is the third day of the strike. As part of the protest, the delivery personnel have been organising bike rallies with riders carrying placards stating their demands. The strike has definitely affected the food delivery service as well as Swiggy’s Instamart service in the city of Mumbai, as the local population is not able to place orders via the firm’s app. The delivery personnel who…
Amazon has reportedly cut five per cent job roles within its communication department. The layoffs have primarily affected people in Amazon Studios, Amazon Prime Video and Amazon Music divisions, encompassing both domestic and international locations. As per a report by Deadline, the move is part of the company’s effort to align with the demands of its business and hence made the necessary cuts in its communications teams. However, the company has announced that it will help the departing employees navigate through this tough decision. All the affected employees will continue to receive their regular pay and benefits for a period…
The Telangana government is introducing cashless health insurance targeting government employees, their families and pensioners covered by the Employees Health Scheme (EHS). To facilitate the implementation of the plan, the government has established an Employee Health Care Trust (EHCT). The employees will make their monthly contributions to the EHCT, with deductions directly from their salaries or pension disbursements. The state government will also make equivalent contribution to this trust on a monthly basis. The state government will also soon announce a board of Trustees for the EHCT that will play a significant role in formulating policy recommendations. A healthcare programme…
The 17th edition of Wipro’s ‘Spirit of Wipro’ (SOW) run saw an overwhelming participation of almost 40,000 across 140 locations, globally. The annual run is part of the ‘Ambitions Realised’ theme, which offers an opportunity for employees and their families to get together along with the technology and consulting services firm’s partners and clients. Since this kind of event demanding physical participation has happened after a long gap post the pandemic, the company organised five global anchor runs in Bengaluru, Dubai, London, New York/New Jersey and Mountain View, California. These anchor runs around the globe are reflective of the true…
Brave Software In an effort to reduce operational cost, Brave Software has downsized its workforce by nine per cent. The move comes as the developer of the brave browser navigates through the difficult economic climate. As per media reports, the layoffs will impact multiple departments, but no specific details have been disclosed yet. Brave Software is a technology company founded in 2015 by Brendan Eich and Brian Bondy. Known for its privacy-centric innovations, the company’s flagship product is the Brave web browser, built on the Chromium engine, which offers enhanced privacy through default ad and tracker blocking. In a community call held in July…
Citigroup is in the midst of its most significant reorganisation in decades, and management is currently assessing its workforce to determine who will be retained, reassigned, or let go by November 2023. A global memo sent on 4 October, 2023, by Sara Wechter, chief human resources officer, Citigroup, outlined this process. While some roles will undergo changes and new positions may emerge, roles that no longer align with the company’s new structure will be phased out. Further details of this upcoming transformation will be revealed in November. The impacted employees will have the opportunity to apply for other roles within…