Tag: financial crisis
Byju’s tells staff to work from home, shuts offices
Except for the Bengaluru headquarters, situated in Knowledge Park, Byju's has shut down all its offices across India. It has asked its employees to...
3.5 lakh govt staff suffering salary delay in Kerala
The salaries for about 3.5 lakh government employees in Kerala have been delayed due to a financial crisis. The chief minister and other ministers...
Byju’s pays Jan. salary to staff; CEO admits to financial challenges
While the employees of Byju’s have received their January salaries before the promised date, they have also been apprised of the financial struggles the...
Byju’s accused of tax offences and payroll irregularities
As per media reports, Byju's has reportedly delayed submitting the deducted taxes or failed to make necessary filings with the income tax department for...
Unpaid wages trigger employee action at Royole, first foldable phone maker...
Shenzhen Royole Technology, once a pioneer in foldable phone technology, is now a ghost town of shattered promises. For nearly a year, unpaid wages...
Dunzo to address pending salary issues while co-founder exits
Dunzo, with backing from Reliance Retail and Google, has unveiled plans to address its financial obligations to former employees over the next three months...
Are 150 employees of GoFirst set to resign due to salary...
Looks like Go First will find it tough to hold back its employees, most of whom are considering quitting. Why? The airline has reportedly...
3 directors quit Byju’s board, auditor resigns
It hasn’t been long since the news of Byju’s considering another round of layoffs amidst financial challenges came out. Now, as per media reports,...
Go First goes insolvent, 5,000+ employees unsure of future
Many pilots of Go First have reportedly started looking out for jobs elsewhere, what with the low-cost airline filing for voluntary insolvency and cancelling...
Will sale of Credit Suisse to UBS affect staff in India?
The global finance crisis in the banking sector has caught up with Credit Suisse too. The Bank was sold to UBS in a deal...
Virgin Orbit furloughs staff, grapples with financial crisis
Virgin Orbit has paused operations and sent almost its entire staff on unpaid furlough. A part of Richard Branson’s Virgin Group, the company helps...
Indian origin columnist steps down as cost cutting measure
Peter Bhatia will step down as editor and vice president of the Detroit Free Press in light of upcoming layoffs.
On December 23, a virtual...
Pay salaries on 5th of the month: HC tells KSRTC
On 21 June, the Kerala High Court ordered that the salaries of the employees of the Kerala State Road Transport Corporation (KSRTC) should be...
The trend of garbing layoffs as restructuring
There has been a trend for companies, be it small organisations or big, to lay off people in the name of restructuring. While companies...
OYO reverses pay cuts from Aug 1
Hospitality company, OYO, has decided to restore the full salaries of its employees in India and South Asia. While those earning a fixed salary...
50% salary cut for Trujet staff
Hyderabad-based airline, Trujet, has decided to cut 50 per cent of its employees’ salaries. The decision has been conveyed to the employees via an...
South African Airways in a hurry to cut jobs and reduce...
South African Airways (SAA) is planning to decrease its wage bill by cutting jobs as soon as possible. The state-owned airline had revealed in...
Real estate sector expected to witness heavy job loss
Over half a million direct jobs are expected to be lost in the real estate space in the near future, according to the National...
Few things employees should do during an economic slowdown
Thousands of jobs have disappeared in a flash as employees are being laid off in auto, textile and now even in the FMCG sector....
No July salary for BSNL, MTNL staff
Both Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL), who have been undergoing a financial crisis, have been unable to pay the salaries...
Air India employee unions against sale of national carrier
The employees’ and officers’ unions of Air India expressed their displeasure at the Government's attempt to sell the cash-strapped national airline.
Ashwani Lohani, chairman, Air...
Jet Airways’ CEO, CFO, CHRO quit
Jet Airways stopped operating its airline business on 17 April, 2019. Several attempts were made by different bidders to salvage the situation, but none...
Pawan Hans holds back April salary of employees
Pawan Hans, the helicopter service company based in New Delhi, has been facing a financial crisis for some time now. An official circular recently...
Employees of BSNL awaiting February salaries
Bharat Sanchar Nigam (BSNL), the State-run telecom company, has not paid the February salaries to almost 1.76 lakh employees owing to a financial crisis....
Jet Airways seeks more time for September salary payment
Jet Airways has requested more time from its employees for payment of salaries for the month of September. However, it has assured the employees...