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Nokia last week suspended operations at a telecoms gear manufacturing plant in southern India, the company said on Tuesday, after some employees tested positive for Covid-19. Nokia did not disclose how many workers at the plant in Sriperumbudur in Tamil Nadu tested positive, but a source familiar with the matter said they were at least […]
Uber India lays Off 600 employees amid slowdown, a 25% of total workforce 2,400 in the country Uber India on Tuesday, 26 May, announced to lay off around 600 full-time employees due to the impact of the coronavirus crisis, a week after Ola slashed its workforce. The affected employees would be from across driver and rider support among […]
On 23 May 2020, Two-wheeler manufacturer TVS Motor Company has announced to cut the salaries of its employees starting this month, May 2020, as it grapples with a steep fall in sales, common across the industry. Though the company has clarified there will be no salary reduction at the workmen level. The company’s CEO, KN […]
Tata Group top execs to take up to 20% salary cut in an effort to conserve cash For the first time in the Tata Group’s history, Tata Sons chairman N Chandrasekaran and Tata Group companies’ chief executive officers (CEOs) will take around a 20 percent compensation-cut in an effort to reduce the cost to tide over […]
An Indian e-commerce company, Snapdeal has put about 7% of its full-time workforce, or 50-55 individuals on a three-month furlough, The e-commerce agency has 750 employees on its payroll whereas one other 800 of staff are on contract. A Snapdeal spokesperson confirmed the event without offering any details and stated in an emailed response, “In […]
An employee at Maruti Suzuki’s Manesar plant has tested positive for COVID-19, according to a company spokesperson. The company is also looking at “a possibility of a second case” of infection at the facility but has ruled out any impact on the business part due to the situation. The country’s largest carmaker, Maruti Suzuki India […]
IBM confirmed, it is cutting an unspecified number of jobs, but wouldn’t provide details related to location, departments, or the number of employees involved. The company framed it in terms of replacing people with more needed skills as it tries to regroup under new CEO Arvind Krishna. Several business media sites, including the Wall Street Journal and […]
Cleartrip has laid off 400-500 employees. the company’s spokesperson said the Covid-19 crisis has caused severe business disruption in the travel industry. The spokesperson said, “we have had to reluctantly downsize our workforce. We are providing all necessary support to affected employees.” When TOI asked about the number of employees affected, the company declined to share details. It has around 1,000 employees. […]
IT firm, HCL has emphatically declared that despite the slowdown, and the economic impact of coronavirus, they will pay all promised bonuses all 150,000 employees, will honour the nearly 15,000 job offers already made to freshers, and no salary cuts for any employee. Apparao VV, Chief Human Resources Officer, HCL said that HCL won’t roll […]
Indiabulls has asked nearly 2,000 employees to resign from the company. The Company, however, said this was part of the annual attrition cycle and claimed these were not lay-offs The Financial Services Group Indiabulls, On May 15, the group’s Indiabulls Housing Finance asked many of its employees to resign and consider May 31 as their […]
TCS top management takes pay cut in financial year 2020 to conserve cash amid Covid-19 Tata Consultancy Services (TCS) has said in an annual report, Chief Executive Officer, Rajesh Gopinathan’s remuneration shrank 16.5% to INR 13.3 crore in 2019-20 compared to the previous fiscal. Gopinathan’s pay package is 214.65 times the median salary of TCS. In […]
Sharechat has recently laid off about 101 employees or 25% of its staff as the ongoing coronavirus pandemic impacts ad revenues According to an email sent to employees by Ankush Sachdeva, CEO of ShareChat, the advertisement market would remain unpredictable this year and the firm is streamlining its revenue teams to these new expectations. “We have to […]