Byju's firing employees over phone calls without giving notice period: Report
The report mentioned that Byju's is using phone calls followed by emails to inform employees about their termination. The email states that their last working day with the company will be March 31, 2024, and their full settlement will be as per the exit policy. Key Points
Business TodayProfessors, principals, civil servants — 57 sacked in 2 years for 'supporting militancy' in J&K
Most sacked from education department — 13 from schools & 8 from universities. DSP-rank officers among 11 fired from J&K Police, 3 senior doctors among 6 fired from health services. Key Points
ThePrintIndia Inc becomes fertile ground for family-planning perks
Fertility benefits covered include associated in-vitro fertilization (IVF), intrauterine insemination (IUI), genetic testing, associated surgeries, associated cryopreservation (egg/sperm/embryo freezing), fertility consultation, fertility medication, hormonal treatment, among others. Since the rollout of these new measures earlier this year, employees undergoing egg-freezing, IVF, or adoption procedures are entitled to additional leave beyond existing entitlements; financial aid is also provided. employees whose partners are undergoing treatments will receive extra caregiving leave. Key Points
Economic TimesLIC shares slip after 17% salary hike
India Business News: Read about the recent dip in LIC shares following a 17% salary hike announcement by the corporation. Stay updated on the latest financial news. Key Points
Times Of IndiaGovt approves 17% wage hike for 1.10 lakh employees of LIC
New Delhi, Mar 15 (PTI) The government has approved a 17 per cent overall hike in wages for more than 1.10 lakh employees of insurance giant Life Insurance Corporation of India (LIC). The wage hike approval has come days after the government cleared a similar raise for the employees of public sector banks. The wage […] Key Points
ThePrint
Air India lays off over 180 non-flying staff
India Business News: Air India, post Tata Group takeover, lays off 180 staff to streamline operations. Focus on VRS, reskilling, fitment processes, Vihaan.AI initiative, l Key Points
Times Of IndiaUP government approves 4% increase in DA
According to an order issued by additional chief secretary (finance), the DA to be paid w. e. f. January 1, 2024, will be equivalent to 50% of the basic salary of employees Key Points
Hindustan TimesKarnataka raises DA to 42.5% from 38.75% for state govt employees
Siddaramaiah announced that the hike will also be applicable to pensioners as well. The hike will be effective from January 1, 2024. Key Points
Business TodayAmid fear of AI taking jobs, new study reveals that AI can actually improve relationships at work
In a world increasingly anxious about AI replacing human jobs, a new study shows a different side. AI, it suggests, is actually helping employees manage stress and improve their work-life balance. Key Points
India TodayCitigroup to lay off 286 employees in New York, filing shows
Citigroup said in January it would cut 20,000 jobs over the next two years, while acknowledging a clearly disappointing quarter marred by one-off charges that resulted in a $1.8 billion loss. The lender is aiming to reduce its global workforce by roughly 8% through 2026, including layoffs from the reorganization, Chief Financial Officer Mark Mason told reporters at the time. Key Points
Economic Times
Sony fires around 8 per cent Playstation employees impacting 900 jobs, London studio shutting down
Sony Playstation announces significant job cuts, affecting around 900 employees globally as part of restructuring operations. This includes the closure of Sony's London Studio and layoffs at Firesprite Studio, with support programs in place to assist affected employees. Key Points
India TodayIn just one year, over 67000 jobs gone at Infosys, TCS, Wipro and Tech Mahindra
2023 was a challenging year for tech professionals across the globe due to large-scale layoffs announced by various tech companies. Four IT giants - Infosys, TCS, Wipro and Tech Mahindra - alone laid off over 67,000 employees. Key Points
India TodayThis $3.5 billion company is paying employees to socialise after 3pm
The $3.5 billion California company started the programme in April last year. Key Points
Hindustan TimesTech salaries get reset as startup talent becomes affordable amid crises at Byju's, Paytm
While many employees of cash-strapped ed-tech firm Byjus have been in the job market for a while now, troubles at Paytm after the central bank imposed curbs on its payments bank unit have made a number of its staffers jittery, driving them to explore other options. Swiggy and Flipkarts announcements of workforce cuts have also added to the supply of talent who were highly paid. Key Points
Economic TimesTech layoffs this week: Microsoft laying off 1,900 gaming staff, eBay cuts 1,000 jobs, and Flipkart, Swiggy plan job cuts, and more
The tech industry has faced significant challenges, including a difficult economy, the COVID-19 pandemic, and business missteps, resulting in job cuts that increased in 2023 and seem to be accelerating in 2024. We have compiled a list of layoffs, which we will keep updating. More than 240,000 jobs were lost in 2023, 50% higher than the previous year. Despite earlier slowdowns in tech layoffs, cuts seem to be ramping up again. Tech companies are pivoting from growth to efficiency, cutting back on their workforces in the face of stubborn market conditions. Here are the biggest job cuts that happened in the last week. Key Points
Times Of India
Layoffs in 2024: List of companies that announced job cuts so far this year
According to data from Layoffs.fyi, a layoff-tracking website, a total of 2,62,595 employees were laid off last year by 1,187 tech companies. So far in January, 91 tech companies have already fired 24,564 employees. Key Points
Economic TimesZee boss Punit Goenka gives pep talk to staff after collapse of Sony deal
Zee Entertainment Enterprises and Culver Max Entertainment have contacted employees to address concerns following the collapse of their merger agreement. Zee Entertainment managing director Punit Goenka assured employees that there will be no job losses and called for Zee to become the top media company in India. Key Points
Economic TimesGoogle CEO Sundar Pichai hints at more layoffs in new letter to employees
Google's CEO Sundar Pichai hints at potential layoffs in a recent memo to employees, following the company's decision to let go of more than a thousand employees since January 10th. The move is seen as an effort to streamline operations and invest in key areas this year. Key Points
India TodayFormal job creation under ESIC fell 7.5% to 1.59 mn in Nov: Payroll data
Formal job creation under the employees State Insurance Corporation (ESIC) fell 7.5% in November, with 1.59 million new employees added. This is the lowest new subscriber addition under ESIC in the current fiscal. Around 20,830 new establishments have been registered and brought under the social security umbrella of ESIC in November, ensuring more coverage. Key Points
Economic TimesTech layoffs in 2024: New Year off to a brutal start as Amazon, Google, others fire thousands
According to layoff-tracking website Layoffs.fyi, 48 tech companies have sacked 7,528 employees till January 15. The cuts signal that this could be another tough year for the tech industry which saw mass layoffs in 2023 as well. Key Points
Economic Times
Can AI really replace you in office? Infosys HR head explains
As it happens, great employee experience is also in the interest of employers, since it is linked to 31 per cent higher revenue growth. Here are some ideas on how employers can leverage AI for this purpose. Key Points
Business TodayNotice to 69 officers, staff for not marking biometric attendance
It may be noted that the Aadhaar-enabled biometric attendance system has been started in all government offices in the state. It was stopped due to the Covid pandemic. The biometric attendance was resumed on April 15, 2023. Key Points
Hindustan TimesAmazon-owned Twitch lays off more than 500 employees, CEO calls it a painful step
Twitch, a popular streaming platform owned by Amazon, has laid off more than 500 employees. The same was announced in a blog post by CEO Dan Clancy. Key Points
India Today24 workers lost their jobs every hour in last 2 years; 582 every day
Over 4.25 lakh tech employees lose jobs in 2023, layoffs continue during holidays. As generative AI threatens millions of jobs, tech companies globally are now sa Key Points
The Tribune India'Winning requires hard work': Indian-American CEO pushes for longer work hours
Niraj Shah, the CEO of Wayfair, sked employees to "blend work with life" and asked for longer work hours. He conveyed the message in a note to employees earlier this month. Key Points
India Today
Punjab CM announces 4 pc hike in DA for govt employees
A decision in this regard was taken following a meeting with the representatives of Punjab State Ministerial Services Union (PSMSU) here. During the meeting, Mann discussed various demands of the employees. Key Points
Economic TimesInfosys kicks off holiday season with long-awaited pay hike
The hikes, which typically are effective from April 1, have now been announced from November 1, 2023, ET has learnt. It does not include reviews for entry level workers of the IT services major, according to people aware of the matter. Key Points
Economic TimesInfosys will soon make three-day WFO mandatory
In an email from vertical heads, the Bengaluru-based software company said: “Please start coming to office at least 3 days a week. It will become mandatory very shortly.” Key Points
Economic TimesSpotify to cut 1,500 employees in third layoff round this year
Music streaming giant Spotify (SPOT.N) said on Monday that it will lay off around 1,500 employees, or 17% of its headcount, to bring down costs, after letting 600 of its staff go in January, and 200 more in June. Key Points
ReutersEdtech startup PhysicsWallah lays off 120 employees after performance review
Indian Edtech startup PhysicsWallah has laid off 120 employees following a performance review. This comes amidst a wave of layoffs in the tech sector, with both startups and large corporations downsizing their workforces. Key Points
India Today
Infosys to pay 80 per cent performance bonus to some employees, here is who is eligible
Infosys will be paying 80 per cent performance bonus to selected employees. Read on to know who will be eligible. Key Points
India TodayAmazon is forcing employees to follow new office rules if they want promotion
Amazon is escalating efforts to bring corporate employees back to the office, introducing a new policy that ties promotions to adherence to the company's return-to-office mandate. According to a report by CNBC, employees who are not meeting the requirement of being in the office for at least three days a week may face diminished chances of promotion. Key Points
India TodayTCS sends transfer letters to employees; can return to work lead to higher attrition?
The emails instruct the employees to move to newly assigned locations within two weeks. The email also noted that based on the company’s policies, employees will be able to reimburse travel and accommodation costs. Key Points
Business TodayTCS tells employees to relocate to new locations within 15 days, IT Union files complaint
TCS asked over 2,000 employees to relocate within 15 days and failure to comply will result in disciplinary action. The IT Union filed a formal complaint against TCS for 'unethical transfer practices'. Key Points
India TodayTCS forcing employees to transfer to different base locations: NITES
NITES alleged that TCS has initiated transfers of employees to different base locations without consulting the employees. The affected employees are required to relocate to the new location within 14 days or stand to have their salaries deducted. ET has reviewed a copy of the letter. Key Points
Economic Times
India Inc on gifting spree to lift staff’s festive spirits
Cola maker PepsiCo India is including family members of employees in festive celebrations, and this year organised a family day across India with activities for children and adults, while edtech firm Upgrad is curating special gift boxes for employees. Fintech startup Simpl is using the occasion of Diwali to promote sustainable living among its workforce, gifting them healthy snackable options, meditation kits and a virtual assistant (Amazon Echo). Key Points
Economic Times‘Switch off from work after your shift,’ Motilal Oswal tells employees
The policy, one of the first of its kind in corporate India, is aimed at improving employee wellness and productivity and applicable to about 9,500 of its 11,000 employees, group chief HR officer Niren Srivastava told ET. The new rule is extended to all employees from the level of senior managers and below. Key Points
Economic TimesEx-Microsoft HR VP says managers do not own employees' lives, argues working multiple jobs is common
Microsoft's former Vice President of Human Resources, Chris Williams, says that people should be allowed to work multiple jobs. He added that employers don't own their employees' lives and what the employees do after office hours is "none of their business". Key Points
India TodayIndia's Wipro asks employees to work from office thrice a week
Wipro (WIPR.NS), India's fourth-largest IT services provider, is mandating that all its employees globally work from office at least thrice a week from this month, according to a company-wide email seen by Reuters on Tuesday. Key Points
ReutersWipro asking employees to return to office for 3 days a week or be ready to face consequences
Wipro has rolled out a mandatory hybrid work policy. In this new rule, employees are required to be physically present in the office for a minimum of three days per week. The employees who will not comply with the new office rule will face consequences, according to the company. Key Points
India Today
CM Arvind Kejriwal announces Rs 7,000 bonus for Delhi govt employees ahead of Diwali
Kejriwal acknowledged the critical role employees of the Delhi government play in public services. ‘Currently, around 80,000 Group B non-gazetted and Group C employees are working with Delhi Govt. A total of Rs 56 crores will be spent to provide this bonus,’ he added Key Points
Business TodayAmazon employee quits job instead of working from office, loses Rs 1.6 crore worth of stocks
Amazon employees were asked to start working from offices earlier this year. An employee revealed how he chose to quit his high paying job instead of following the work from office mandate. Key Points
India TodayAs air turns toxic, NCR companies take steps to protect staff
The AQI crossed 700 (a value above 150 is considered unhealthy) in many parts of the NCR on Thursday, forcing the shutting down of primary schools. Over a dozen companies including Deloitte, KPMG, Panasonic, BigBasket, BluSmart, Zepto and CIEL HR Services that ET spoke with said they are taking initiatives include offering work-from-home options to employees, providing masks at offices and to frontline staff, installing air purifiers and indoor plants as well having a doctor on call. Key Points
Economic TimesInfosys asks some workers to return to office 10 days a month: source
India's No.2 software-services exporter Infosys Ltd (INFY.NS) has asked some of its employees to work from office 10 days a month, a source familiar with the matter said on Wednesday. Key Points
Reuters