employees

Satish Malhotra, who is the CEO of American specialty retail chain company The Container Store, has voluntarily reduced his own salary, by 10% to help offset costs and help with salary hikes for other employees at the company. Notably, Satish has been the company's CEO since February 1, 2021. He previously worked at the world-renowned cosmetics chain Sephora for 20 years, and took the decision to ensure employee's hike.

Amazon continues to layoff more employees in various verticals of India. This fresh round of downsizing is part of the broader layoffs announced by CEO Andy Jassy in March, affecting approximately 9,000 employees. The process is ongoing, people familiar of the matter said, adding that the employees are being laid off from Web Services, Human Resources and Support department. This another wave of layoff which Amazon employees are witnessing.… read-more

UBS Group AG cut bonuses for last year by 10% after its dealmakers saw revenue erode by a slump in mergers and capital raisings. On March 6, CEO Ralph Hamers received 12.2 million Swiss francs ($13 million) for his second full year in the job, an increase from the 11 million francs a year earlier. The Zurich-based lender set aside $3.3 billion for employee bonuses last year.

In another major layoff, Disney fired approximately 7,000 employees, on February 8. Disney CEO Bob Iger announced the mass layoff to cut costs, confirmed sources. The move was "necessary to address the challenges we're facing today," said Bob. Its current forecasts indicate Disney+ will hit profitability by the end of fiscal 2024. Moreover, Disney's direct-to-consumer division, which includes its streaming services, saw a 13% increase in… read-more

Tata Consultancy Services (TCS) finally ended the work-from-home (WFH) system for its employees, asking them to come office at least thrice a week. On September 24, the TCS sent an email to all of its employees, working in a hybrid model, ending full work-from-home adopted because of the pandemic. Senior employees have already been working from the office and customers are also visiting the TCS offices, read email.