Key Points
Jobs scam | TCS sacks six employees, as many staffing firms: N Chandrasekaran ..
Following allegations by a whistleblower of a recruitment scandal at Tata Consultancy Services (TCS), the company has sacked six employees and as many staffing firms for violating ethical standards, Tata Sons chairperson N Chandrasekaran informed shareholders during the companys 28th Annual General Meeting (AGM) on Thursday...
The complaint alleged that TCS executives were allegedly giving preferential treatment to certain staffing firms in recruiting contractual employees, in exchange for gratification...
Byjus has been mired in loan defaults, valuation markdowns, and a string of high-level exits that saw three of the edtechs board members GV Ravishankar, managing director at Peak XV Partners (formerly Sequoia Capital India), Russell Dreisenstock of Prosus (previously Naspers) and the Chan Zuckerberg Initiatives Vivian Wu step down...
Data decoded: The outsourcing cost of TCS, Infosys, Wipro and HCLTech increased to more than Rs 62,939 crore ($7.6 billion) for the year ended March 31, 2023, compared with Rs 39,368 crore ($4.8 billion) in fiscal 2021, according to data compiled by staffing firm Xpheno...
You might be interested in
Significant valuation markdown coming for Byju’s, Peak XV tells LPs; Myntra rejig to lay off 50
26, Jul, 23Hello, happy hump day, but maybe not for Byjus. Peak XV Partners, formerly Sequoia India, has told its investors that it will have to significantly mark down the value of its holding in Byjus as it was in the dark about the companys finances. This and more in todays ETtech Morning Dispatch.
‘Will liquidate existing assets if equity funding doesn’t materialise’: Byju Raveendran tells employees
29, Jun, 23Byju Raveendran addressed his employees in a virtual town hall and assured them that “the situation is not as bad as what appears in the media.”
TCS banned six employees, probing the role of three more: N Chandrasekaran on job scam
29, Jun, 23The firm is investigating the role of three more of its employees, Chandrasekaran said while speaking at the TCS Annual General Meeting (AGM).
TCS acts against 6 employees for favouring staffing firms; sees short-term volatilities in biz
30, Jun, 23Mumbai, Jun 29 (PTI) IT services firm TCS has acted against six employees after finding them favouring a few staffing companies, Chairman N Chandrasekaran said on Thursday. The Tata Group’s cash cow feels the next few quarters will be volatile due to business uncertainties in the developed world but the company has good prospects in […]
Tata’s Chandrasekaran expresses deep pain over job scam at TCS
29, Jun, 23Chandrasekaran assured shareholders of stringent measures to tighten the way it engages with the entire network of over 1,000 staffing firms
Byju’s shareholders vote to oust CEO; company calls it ‘invalid’
24, Feb, 24The majority of Byju’s shareholders on Friday voted unanimously for removing founder CEO Byju Raveendran and his family from the board over...
Byju Raveendran pledges homes to raise funds for staff salaries
04, Dec, 23Byju Raveendran, the founder of edtech titan Byju’s, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch, the report said
Byju's founder pledges homes to raise funds for staff salaries
04, Dec, 23Byju Raveendran pledged his two houses to borrow $12 million, and the funds were used to pay salaries to around 15,000 employees of Byju’s parent firm, Think & Learn Private Limited, on Monday.
Investors leaving board was biggest setback; Byju's now worth zero: founder Raveendran
17, Oct, 24The founder of the once-most-valued Indian startup said investors threw Byjus under the bus at the first sign of crisis. While sounding optimistic about a turnaround, Raveendran said the edtech had taken the best decision in the world when it took the Term Loan B (TLB), which was the easiest capital. However, it turned out to be the most expensive one, he rued.
TCS sacks six employees, bans six staffing firms in bribe-for-jobs case: Report
29, Jun, 23N Chandrasekaran said he cannot quantify what favours the guilty employees had received from the staffing firm in the appointment of contractual workers.