Satish Malhotra, CEO Of The Container Store

Photo: The Org

Meet Satish Malhotra; CEO Who Reduced His Salary To Make Way For 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.

Tue, 26 Sep 2023 - 09:01 AM / by Varsha Joshi

Tags: Satish Malhotra, CEO, Hike, salary, employees

Courtesy: India Times


Photo: India Today

Byjus To Fire 1,000 Employees From Different Units, Across India

Edu Tech platform Byju continues their layoff and is set to fire as many as 1,000 more employees. As per sources, Marketing managers have been asked to fire two people each from sales and marketing from each of its 280 tuition centres across the country. The latest layoff came six months after the company fired 5,000 employees. Furthermore, the fired employees would be given two months severance.

Fri, 09 Jun 2023 - 02:27 PM / by Varsha Joshi

Tags: fired, employees, Byjus, Education(1522), Tech Industry

Courtesy: NDTV


Photo: India Today

Amazon Layoff Continues With 500 Employees In India

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

Tue, 16 May 2023 - 12:01 PM / by Varsha Joshi

Tags: Amazon, layoff, Business News, employees, Economic crisis

Courtesy: NDTV


Photo: Facebook

Woman Shares Her Layoff Story From Meta, Asks If Zuckerberg Took Paycut

A woman, who was impacted by the new round of layoffs, shared her story on LinkedIn and revealed how she was fired while being on her maternity leave. She also said that it is beyond her understanding how the Meta leadership team 'miscalculated so badly that they had to layoff thousands of employees'. She concluded the post by writing, 'Has Mark Zuckerberg taken a pay cut?'

Fri, 17 Mar 2023 - 09:31 AM / by Varsha Joshi

Tags: meta, Firing, employees, LinkedIn, business

Courtesy: India Today

Swiss Bank

Photo: The Economic Times

Swiss Investment Bank Cuts 10% Bonus Of Employees In 2023

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.

Mon, 06 Mar 2023 - 05:00 PM / by Varsha Joshi

Tags: Swiss Investment Bank, 10% Bonus Cut, employees, Bank Jobs, CEO

Courtesy: Hindustan Times

BBC Office

Photo: The Times of India

BBC IT Raids Enter Day 3, Employees Spend Sleepless Nights

Income Tax (IT) raids at the BBC offices in Mumbai and Delhi, entered the third day on February 16. Notably, the IT officials conducted surveys at BBC offices amid allegations of tax evasion, following which employees spent two nights at the office, cooperating with the IT officials during the searches. Moreover, the IT raids are being criticised as it started after BBC's controversial documentary on PM Modi.

Thu, 16 Feb 2023 - 11:52 AM / by Varsha Joshi

Tags: BBC, IT Raids, Income Tax Evasion, employees, investigation

Courtesy: NDTV


Photo: Disney Plus

Disney CEO Announces Layoffs, Fires 7,000 Employees

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

Thu, 09 Feb 2023 - 09:07 AM / by Varsha Joshi

Tags: layoff, Disney, employees, PROFIT, Financial Business


Photo: First Post

Central Govt Approves Hike In DA, DR For Govt Employees In India

India’s cabinet has approved a hike in Dearness Allowance (DA), to provide relief for government employees, especially during festive season. On  September 28, the BJP-led GoI approved a DA hike of 4% for 4.7 million employees of the central government, while 6.8 million pensioners will get Dearness Relief (DR). The DA and DR amount were long awaited by the Central Government employees in India.

Wed, 28 Sep 2022 - 03:03 PM / by Varsha Joshi

Tags: DA, DR hike, Government of India, Delhi, employees

Tata Consultancy Services

Photo: The Indian Express

TCS Asks Employees To Work From Office, Sent Email

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. 

Sun, 25 Sep 2022 - 09:48 AM / by Varsha Joshi

Tags: Tala Consultancy Service, Work From Office, Work From Home, employees, Work Environment

Courtesy: NDTV

staff housing

Photo: Hindustan Times

Bombay HC Orders Air India Employees To Evacuate Mumbai Staff Quarters By September 24

Bombay High Court has allowed time for employees of Air India and other Unions to leave their staff quarters till September 24 since Ganesh Chaturthi is widely celebrated in Bombay. The airline personnel who had been living there since before the disinvestment were sent with eviction papers, but the Bench declined to overturn them. After September 24, authorities can take any appropriate legal measures against anybody who refused to leave. … read-more

Fri, 26 Aug 2022 - 12:50 PM / by Vidhi Jhunjhunwala

Tags: Air India, employees, Mumbai, staff quarters, Bombay High Court

Courtesy: India Today