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CONTRACTUAL STAFF REDUCTION
Deeptech bets heat up; Paytm, PB Fintech, Meesho earningsHappy Thursday! VCs are doubling down on India’s deeptech, with early-stage bets leading the charge. This and more in today’s ETtech Mornin...- Big win for depositors: Bank cannot lower FD rate once booked, rules Allahabad High CourtBanks cannot unilaterally cut fixed deposit interest rates after they are booked. The Allahabad High Court ruled this in favor of FD holder...
- Lenders close to finalising recast package for Vizag's RINLBanks, led by SBI, are finalizing a restructuring package for Vizag's Rashtriya Ispat Nigam (RINL) to revive the previously defunct steelma...
- Big retailers Reliance to Titan slash jobs by 52,000 in FY24Around a dozen lifestyle, grocery retailers, and quick-service restaurants cut about 26,000 jobs in FY24. This decline followed a slowdown ...
- Unacademy leadership to take salary cuts of up to 25%, says edtech’s founder Gaurav MunjalIn a memo to employees, cofounder and CEO Gaurav Munjal told employees that the Bengaluru-based unicorn’s leadership including founders wil...
- Unacademy to slash 12% of workforce in another round of layoffsUnacademy had cut its headcount by 1,350 across two rounds of layoffs last year, while its subsidiary Relevel had fired 40 employees in Jan...
- Ex-CBDT chief PC Mody takes over as new Rajya Sabha secretary-generalBorn on September 1, 1959, Mody has almost 40 years of long experience for handling various posts in Government of India including Chairman...
- Covid impact: Six listed retailers let go of 13,600 employees in FY21The biggest fall was in Arvind Fashions that shrunk its workforce by about 58% mainly due to its exit from some brands such as Gap and Unli...
- BSNL to retrench another 20,000 contract workers: Employees' unionThe union in a letter to BSNL Chairman and Managing Director P K Purwar said the financial condition of the company has deteriorated after ...
- Cash-strapped Air India reduces monthly allowances of employees by up to 50%The order, dated July 22, said basic salary and allowances linked to it like industrial dearness allowance (IDA) and house rent allowance (...
- Shoppers Stop lays off more than 1,100 employeesGlobally, retailers including Gap, Best Buy, Macy's and Kohl's laid off over 2.5 lakh employees since March. In India, many retailers inclu...
- JCB India bites the retrenchment bullet, sacks 400 permanent employeesThe retrenchment includes 80 to 90 persons ranging from a DGM till Vice President level over the last fortnight. JCB India has a total work...
- Oyo to sack 5,000 worldwide as business catches a coldThe Covid-19 outbreak, which has ravaged the world's second-largest economy, has hit the hotel room aggregator's operations in China, Oyo g...
- I&B representative on Prasar Bharati board complains against chairmanAt the gathering, some senior PB officials had taken “strong exception” to the ministry’s alleged interference with the organisation’s auto...
- Govt considering capital infusion to revive Air IndiaGovernment is contemplating capital infusion by way of equity and soft loans for the cash-strapped Air India which has deferred the future ...
- Insurance giant AIG to pay $165 million in bonusesAIG is paying bonuses to meet a Sunday deadline, but the co has agreed to administration requests to restrain future payments. Top banking ...
- Bailed-out AIG to pay bonuses to employeesAmerican International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout...
- PNB set to hire 2,000 specialised people by MarchPunjab National Bank will hire 2,000 persons with "specific skills" in the next four months, its Chairman and Managing Director K C Chakrab...
- Punjab National Bank to hire 2,000 people by MarchPNB will be recruiting more people next year to cater to the growing business and also to make up for the people who would be retiring. Ind...
- Air India curtails freebies as cost-cutting regime comes into effectAir India staff will hereafter not be allowed go on foreign tours unless it is "absolutely essential" and that too only with the permission...
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