EMPLOYEE COSTS
JM Financial cuts Zomato's target price by 8% on ESOP costs JM Financial has lowered Zomato's target price to Rs 230 from Rs 250, noting that ESOP costs are no longer considered one-off expenses following the approval of a new policy. The formulation of this policy indicates that ESOP costs will be treated a...
04 Jul, 2024, 11.44 AM ISTZomato gets shareholder approval for Esop plan, gives up pursuit of NBFC licence Food delivery company Zomato had proposed an Esop pool of 183 million shares. The new plan would mean a 2% stake dilution for existing shareholders, founder and CEO Deepinder Goyal had told shareholders in May, adding that the new pool would be suff...
02 Jul, 2024, 07.05 PM ISTIncreasing annual leave to five weeks would cost employers less than you might think The idea of expanding annual leave to five weeks appears to be gaining traction, spurred by recent advocacy from groups like the Shop Distributive and Allied Employees Association. While certain industries already offer extended leave, such as for c...
02 Jul, 2024, 12.41 PM IST- ADVERTISEMENT
Walgreens closing down multiple underperforming US stores, what went wrong? Pharma giants Walgreens is now closing down as one of their 4 US stores are currently underperforming amid stiff competition from retail chains like Target. Even slashing price and giving discounts are not working out for the organization, claim rep...
28 Jun, 2024, 02.48 AM ISTESOPs exempt from GST, barring where foreign companies charge additional amount The Central Board of Indirect Taxes and Customs (CBIC) clarified that multinational companies offering Employee Stock Purchase Plans (ESPPs), Employee Stock Option Plans (ESOPs), or Restricted Stock Units (RSUs) without additional charges will not a...
28 Jun, 2024, 12.26 AM ISTYes Bank restructures workforce, lays off 500 employees in cost-cutting move While the layoffs have happened across several verticals ranging from wholesale to retail, the branch banking segment saw a large impact, one person cited above said. The people sacked have been given severance pay amounting to three months’ salary....
25 Jun, 2024, 10.51 PM ISTDA hike for bank employees: Dearness allowance from May to July 2024 announced; latest update on 5-day bank workweek DA hike for bank employees: Dearness allowance will be 15.97% for May, June and July 2024 for the bank employees. The calculation of dearness allowance for bank employees was revised early this year. A new pay scale has been constructed for the empl...
11 Jun, 2024, 03.33 PM ISTBNPL startup Simpl undertakes another round of layoffs, rejigs senior leadership Simpl, a Bengaluru-based consumer credit startup, laid off 30 employees after firing 160 executives. Senior executives Vatsal Jain, Ashwini Ravindranath, and Ramkumar Narayanan resigned. Earlier in April 2023, the BNPL startup let go 25% of its work...
06 Jun, 2024, 09.07 PM ISTStartups’ new hiring strategies; unprecedented poll buzz online Happy Thursday! While layoffs continue, startups are strategically refilling certain open positions with lower-salaried junior staff to cut costs. This in today’s ETtech Morning Dispatch.
06 Jun, 2024, 07.45 AM ISTHow startups are changing their hiring strategies to streamline costs Facing a prolonged funding drought, startups are trying a new approach to cost-cutting. Layoffs continue, but some companies, like Swiggy and Ola, are strategically refilling certain open positions with lower-salaried junior staff, according to indu...
06 Jun, 2024, 07.29 AM ISTGoogle cuts at least 100 jobs across its cloud unit: report Alphabet-owned Google is laying off at least 100 employees from several teams in its cloud unit, CNBC reported on Monday. Roles in sales, operations, engineering, consulting, and 'go to market' strategy were some of the positions cut.
04 Jun, 2024, 09.19 AM ISTAs work-from-home trend declines, flexible office spaces work for employees and companies Providing convenience and flexibility for employees on one hand, cost-effectiveness, and asset-light models for employers on the other, coworking/managed spaces are booming. Demand for such spaces is soaring in large metros and Tier-2 cities alike a...
02 Jun, 2024, 11.33 PM ISTGlobal capability centres go big on hiring gig employees India's multinational hubs are increasingly turning to hiring contingent workers to meet immediate talent needs while remaining cautious about permanent recruitment due to a bearish global outlook. There has been a significant rise in demand for gig...
01 Jun, 2024, 05.30 AM ISTGland Pharma Q4 Results: Firm misses profit view on higher employee costs Indian generic injectables maker Gland Pharma reported fourth-quarter profit below estimates on Wednesday, as soaring employee expenses outweighed strong demand in its core markets.
22 May, 2024, 06.31 PM ISTZomato sees Esop costs rising on grant of stock options to Blinkit leadership Costs incurred under the Esops head are non-cash expenses, and will rise in the ongoing fiscal “on account of grant of Esops to the Blinkit leadership team and senior employees,” the management said in a post-earnings call.
13 May, 2024, 07.28 PM ISTGoogle lays off at least 200 employees from its ‘Core’ teams: report Google laid off 200 core team employees to cut costs. These core teams build Google's main products and keep users safe online. The company is moving some of these jobs to India and Mexico. This follows earlier layoffs in 2023 as Google restructures...
02 May, 2024, 04.14 PM ISTPrices can't dampen EV sales as it steps on leasing pedal Leasing is becoming a key driver in electric vehicle (EV) sales in India, especially as the high upfront cost remains a barrier to adoption. Companies like Quiklyz, Ayvens, and Lithium Urban Technologies are witnessing significant growth in the EV l...
28 Apr, 2024, 12.42 AM ISTTop IT firms saw wage bills rise 5.5% even as revenue growth dips IT companies' cumulative wage cost rose by Rs 18,036 crore in the fiscal year. Experts said this was due to continuity in lateral hiring in high-demand areas such as AI, machine learning, and cloud and engineering services, coupled with the salary i...
22 Apr, 2024, 06.01 AM ISTGoogle layoffs: Tech giant undertakes fresh job cuts in cost optimisation push Alphabet-owned Google is undergoing a restructuring, with layoffs and expansion plans in key hubs like India, Chicago, Atlanta, and Dublin. Concerns are being raised about further job cuts amid economic uncertainties as Google seeks to enhance effic...
18 Apr, 2024, 10.53 AM ISTMore companies offer IVF coverage even as they rationalise costs Rising IVF coverage in corporate health insurance renewals with sub-limits managing premiums. Firms add cosmetic benefits amid medical inflation. Growth attributed to health and wellness benefits.
04 Apr, 2024, 01.12 AM IST