EMPLOYEE COSTS

Sebi introduces a unit-based employee benefit scheme for REITs and InvITs, allowing managers to grant unit options to employees. The rules, effective from July 12, aim to provide benefits without additional costs to the trusts. The scheme requires d...

The Karnataka government has announced that the 7th Pay Commission will come into effect from August 1, benefiting around 14 to 15 lakh state employees. This decision fulfills one of the demands of the people and aligns with the government's manifes...

The Karnataka cabinet has approved the implementation of the seventh Pay Commission's recommendations, effective from August 1. The commission, chaired by K Sudhakar Rao, proposed a 27.5% increase in the basic salary of over seven lakh state governm...

IT jobs: Training hours at Infosys, Wipro, and Tech Mahindra dropped in FY24 due to fewer freshers and just-in-time hiring, e.g., Infosys down to 74.6. TCS doubled to 87. Richard Lobo anticipates future upskilling. Cost optimization prioritizes bill...

Americans are traveling in record numbers this summer, but Delta Air Lines saw second-quarter profit drop 29% due to higher costs and discounting of base-level fares across the industry.

600 non-flying Air India and Vistara staff will be impacted by the Tata Group merger. Job placements within Air India and Tata companies are planned. Fair fitment considers experience and performance. Voluntary separation offered if needed. No cabin...

The staffing and HR industry anticipates tax breaks and investment in skill development in the FY25 budget. They propose lowering the GST on employment services from 18% to 5% and easing EPF contribution rules for staffing companies. Emphasizing ski...

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...

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....

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...

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...

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.

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...

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...

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.

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.

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...

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...

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...