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Prime Minister Narendra Modi Distributes 51,000 Appointment Letters in Rozgar Mela

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In a virtual ceremony scheduled for November 30, 2023 at 4 PM, Prime Minister Shri Narendra Modi is expected to hand over more than 51,000 appointment letters to recently hired individuals. In keeping with the government’s pledge to give employment creation top priority, the distribution will take place in 37 locations across the country as part of the Rozgar Mela initiative. Supporting the initiative are recruitments from a number of State Governments/UTs and Central Government Departments. The newly chosen recruits will work in a variety of ministries, including the Ministry of Labor & Employment, Ministry of Health & Family Welfare, Ministry of Revenue, Ministry of Home Affairs, Department of Higher Education, Department of School Education and Literacy, Department of Financial Services, and the Ministry of Defence. In keeping with the Prime Minister’s goal of giving jobs top priority, the Rozgar Mela seeks to serve as a catalyst for job creation. It is anticipated that this initiative will give young people meaningful jobs, enabling them to take an active role in the development of their country. The appointed individuals are encouraged to contribute with creative ideas in addition to being valued for their role-related competencies. Their engagement is regarded as essential to bolstering the country’s industrial, economic, and social development, in line with the broader goal of an advanced India. The new hires will have the chance to complete training via Karmayogi Prarambh, an online course accessible through the iGOT Karmayogi portal, as part of their onboarding process. More than 800 e-learning courses are available on this platform, enabling flexible and accessible learning formats. This program demonstrates the government’s dedication to developing a workforce that is knowledgeable and capable of making a significant impact on the advancement and development of the country.

Prime Minister Narendra Modi Distributes 51,000 Appointment Letters in Rozgar Mela Read More »

Taiwan Pursues Employment Agreement with India Amidst Controversy

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Taiwan’s efforts to establish an employment mobility agreement with India have sparked debate and increased regional geopolitical tensions. The draft memorandum of understanding, which was initiated in September, aims to facilitate the employment of thousands of Indian workers in Taiwan’s various sectors. Although Taiwanese authorities have deemed the official figure of 100,000 workers to be inaccurate, the deal is nearing completion. This agreement is significant not only for economic cooperation, but also for its potential to improve bilateral relations between Taiwan and India. Although the two countries do not have formal diplomatic relations, they have established representative offices in each other’s capitals since 1995. The volume of trade between them has increased significantly, reaching USD 8.9 billion in 2021 from USD 2 billion in 2006 However, the impending agreement has sparked a backlash on multiple fronts. China, which fiercely opposes Taiwan’s sovereignty, sees India’s growing ties with the island nation as a threat. Concerns in Taiwan about potential job losses for Indian workers have added fuel to the fire, despite hopes for improved bilateral relations. The aging population and the need for diverse labor in sectors such as agriculture and industry are driving Taiwan’s pursuit of foreign workers, including those from India. The drop in the local labor force caused by the pandemic has exacerbated this need. For India, the agreement provides an opportunity to provide lucrative employment opportunities abroad to its sizable workforce. The announcement of the pact, however, has sparked online racist campaigns against Indians, which the Taiwanese government attributes to China’s concerted efforts to tarnish Taiwan’s image and strain relations with India. The geopolitical implications of the agreement are significant, particularly in light of China’s claims over Taiwan. Beijing regards Taiwan as part of its territory and opposes any diplomatic moves that would strengthen Taiwan’s sovereignty. India’s participation in a significant economic agreement with Taiwan is likely to aggravate China’s discontent in the region.

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Microsoft Enlists Former OpenAI CEO Sam Altman to Lead New Advanced AI Research Team

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Microsoft has made a significant move in the field of artificial intelligence (AI) by hiring former OpenAI CEO Sam Altman and co-founder Greg Brockman to lead a newly established advanced AI research team. This development was announced by Microsoft CEO Satya Nadella, and it follows the recent appointment of Emmett Shear as CEO by OpenAI’s board, a decision that went against the wishes of some investors who sought the reinstatement of Sam Altman, a co-founder of OpenAI since its establishment in 2015. Satya Nadella expressed great excitement about the addition of Sam Altman and Greg Brockman to Microsoft, stating, “We’re extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team.” Nadella also hinted that the term “colleagues” suggests Microsoft might be planning to bring in other former OpenAI employees who departed over the weekend. Microsoft has invested significant financial resources in OpenAI, and Nadella emphasized the company’s ongoing commitment to its partnership with the startup. He mentioned, “We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our ability to continue to innovate… and in continuing to support our customers and partners.” In response to the move, Sam Altman acknowledged his new role at Microsoft in a post on X, quoting Nadella and indicating continuity with the mission. Nadella responded by hinting at Altman’s role at Microsoft, noting the company’s experience in providing founders and innovators the space to build independent identities and cultures within the larger Microsoft ecosystem. He cited examples such as GitHub, Mojang Studios, and LinkedIn as instances where this approach has been successful. This strategic move by Microsoft not only bolsters its position in the AI research landscape but also reflects the dynamics of the tech industry, with companies actively seeking and securing top talent to drive innovation and advancements in artificial intelligence.

Microsoft Enlists Former OpenAI CEO Sam Altman to Lead New Advanced AI Research Team Read More »

OpenAI Fires CEO Sam Altman Amid Communication Concerns Post-ChatGPT Success; CTO Mira Murati Takes Interim Charge

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OpenAI, the organization behind ChatGPT, announced on Friday the dismissal of CEO Sam Altman, citing a loss of confidence in his leadership. Altman gained prominence with the release of ChatGPT, a groundbreaking AI chatbot capable of generating human-like content rapidly, including poems and artwork. According to a statement from OpenAI’s board, Altman’s departure follows a thorough review, revealing inconsistencies in his communication with the board, hindering their ability to fulfill their responsibilities. The board expressed a lack of confidence in Altman’s continued leadership. Altman’s decision to launch ChatGPT last year propelled him to fame, and the AI race intensified with major tech players such as Amazon, Google, Microsoft, and Meta entering the competition. Microsoft, a key backer of OpenAI, integrated the company’s technology into its products, including the Bing search engine. Altman, who previously testified before the US Congress on AI and engaged with heads of state, faces increasing pressure for regulatory measures against potential risks like AI’s use in bioweapons and misinformation. While acknowledging Altman’s contributions to OpenAI, the board emphasized the need for new leadership. The interim CEO will be Mira Murati, OpenAI’s Chief Technology Officer. OpenAI’s board, composed of figures like Ilya Sutskever, Adam D’Angelo, Tasha McCauley, and Helen Toner, expressed gratitude for Altman’s contributions and announced the necessity of new leadership for the organization’s future. Altman, who recently led a developer’s conference for OpenAI, acknowledged concerns about AI’s disruptive impact, expressing empathy for various perspectives on the matter. Altman’s replacement comes at a time when OpenAI continues to shape the landscape of generative artificial intelligence.

OpenAI Fires CEO Sam Altman Amid Communication Concerns Post-ChatGPT Success; CTO Mira Murati Takes Interim Charge Read More »

Ferrari Unveils Ambitious 2024 Plans: 250 New Hires, Employee Share-Ownership Program, and Enhanced Bonuses

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Ferrari, the renowned luxury sports car manufacturer, has unveiled its ambitious plans for 2024, signaling a positive direction for the company. In the first half of the upcoming year, Ferrari intends to expand its workforce by hiring 250 individuals. This decision follows recent disruptions caused by worker strikes at Stellantis, GM, and Ford plants in North America between September and October. In contrast, Stellantis is streamlining its workforce in Italy through voluntary redundancy programs. Ferrari’s initiative includes significant enhancements for its employees. The company will introduce a new share-ownership program and improved bonuses. Approximately half of the new hires are slated to join the workforce in January. Ferrari, with a predominantly Italian employee base of over 5,000, will kick off an employee share-ownership plan early in 2024, initially targeting its Italian staff. As part of this program, every employee will be granted company shares with a maximum value of 2,065 euros ($2,208) at no cost. Those who retain the shares for a minimum of 36 months will receive additional shares, amounting to up to 15% of the initial value of the allocation. The use of treasury shares will extend this plan to encompass Ferrari employees outside Italy. Furthermore, Ferrari has successfully negotiated an agreement with the FIM, UILM, and FISMIC unions to extend a competitiveness award program for Italian employees from 2024 to 2027. This annual competitiveness bonus may see an increase to 17,000 euros, up from 13,500 euros in 2022 and 12,000 euros in 2021. Notably, employees will have the option to voluntarily convert a portion of their bonus into Ferrari shares, with a maximum limit of 3,000 euros. These strategic moves underscore Ferrari’s commitment to fostering a positive working environment and reinforcing its position in the luxury sports car market.

Ferrari Unveils Ambitious 2024 Plans: 250 New Hires, Employee Share-Ownership Program, and Enhanced Bonuses Read More »

Apple Agrees to $25 Million Settlement Over Alleged Discriminatory Hiring Practices in 2018-2019

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Apple has agreed to pay $25 million to settle allegations that it engaged in discriminatory hiring practices from 2018 to 2019. The settlement follows a lengthy investigation by the Department of Justice, which concluded that Apple violated the Immigration and Nationality Act by favouring immigrant workers over U.S. candidates for certain positions. The probe also found instances where Apple discriminated against non-U.S. residents. Despite vehemently denying any wrongdoing, Apple acknowledged a failure to adhere to DOJ standards and opted for a settlement to address concerns. In response to the settlement, Apple defended its hiring record, emphasizing its employment of over 90,000 people in the United States and significant nationwide investments. The $25 million settlement, a relatively modest sum for Apple, will be divided into $18.25 million allocated to a fund compensating victims of alleged discrimination, while the remainder covers fines related to Apple’s hiring practices during the specified timeframe. This comes as Apple reported $383 billion in revenue for its last fiscal year ending on September 30.

Apple Agrees to $25 Million Settlement Over Alleged Discriminatory Hiring Practices in 2018-2019 Read More »

Capgemini Witnesses a Sharp Decline in Offshore Headcount, India Heavily Impacted

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French IT company Capgemini has seen a significant reduction in its offshore workforce, with a decline of 14,600 employees in the September quarter. This reduction has notably affected its operations in India, where it had 185,000 employees, accounting for less than half of its total workforce of 342,700. It is estimated that Capgemini’s headcount in India may have decreased by nearly 7,000 employees during this period, following the addition of 35,000 people in the previous fiscal year. The offshore headcount of Capgemini has decreased by 7% to 196,000 employees in the September quarter, while its onshore workforce decreased by 1,100 employees. Capgemini’s CFO, Carole Ferrand, emphasized the company’s focus on efficiency and optimizing its talent base, especially in offshore locations, after a period of intensive hiring and high attrition. She mentioned that attrition rates have now cooled down to 18.6% over the last 12 months, aligning with the company’s nominal operating ranges. When contacted for a statement, Capgemini’s spokesperson explained that the company had adopted a stable hiring approach due to the challenging economic environment. They highlighted a focus on investing in new skills, fostering innovation, and expanding the portfolio. Capgemini, however, did not disclose its current headcount in India following the reduction in offshore employees. Capgemini’s CEO, Aiman Ezzat, mentioned the company’s plans to expand its workforce in data and AI, business, and technology talent, aiming to double the team to 50,000 people in the next three years. The company also intends to train over 100,000 employees in genAI-specific tools within the next 12 months. In terms of financial performance, Capgemini reported a 2.3% year-on-year revenue increase in constant currency for the September quarter. However, revenue in the North America region declined by 4%, attributed to the challenging economic environment and a gradual deceleration scenario for 2023. Ezzat emphasized the importance of the transition to a digital and sustainable economy for Capgemini’s clients and highlighted the increasing demand for generative AI. The company’s genAI campus has been launched to provide training for employees, aligning with its 2 billion euros investment plan to strengthen its presence in this field.

Capgemini Witnesses a Sharp Decline in Offshore Headcount, India Heavily Impacted Read More »

EPFO Initiates Evaluation of Financial Implications for Higher Pensions Following Supreme Court Ruling

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News on HR

The Employees’ Pension Fund Organisation (EPFO) has commenced the process of evaluating the financial implications of a Supreme Court ruling by issuing letters to individuals who have requested higher pension benefits. The EPFO is seeking a response of Rs 2,000 crore in this regard, marking the initial step in gauging the financial repercussions of the court’s decision. To assess the preliminary financial impact, the EPFO has employed an Actuary to make calculations based on specific assumptions. However, this actuarial assessment will be an ongoing process and will be conducted in batches of 50,000 demand letters sent out. A comprehensive evaluation will follow once all cases have been addressed. Additionally, the EPFO is in the process of establishing an actuarial department at its headquarters to ensure the use of realistic assumptions and to conduct thorough actuarial reviews of reports provided by the valuer or consulting actuary. In total, the EPFO has received 1.749 million applications for increased pension benefits, of which 629,000 have been reviewed. Among these, approximately 527,000 applications required the EPFO to contact employers for additional information or corrections, while around 3,618 forms were rejected. During a recent meeting of the EPFO’s Central Board of Trustees (CBT), it was noted that processing these applications is a time-consuming task, and the actuarial analysis can only be completed after addressing all applications, as per the CBT, which serves as the EPFO’s top decision-making body.

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Meesho Prioritizes Employee Well-Being with 9-Day ‘Reset and Recharge’ Break

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Meesho, the e-commerce platform, has placed a strong emphasis on the well-being of its employees by introducing its third annual ‘Reset and Recharge’ break from November 11 to 19, 2023. During this nine-day period, known as Meesho’s “MeeCARE” initiative, employees, or “Meeshoites,” can disconnect from work, prioritize their mental health, and celebrate. This move reflects Meesho’s dedication to the overall happiness and growth of its workforce, following the success of the ‘Meesho Mega Blockbuster Sale.’ Furthermore, the company has enhanced its parental policies, offering financial support, extended leave for primary caregivers, and provisions for unforeseen circumstances, health issues, and equitable performance evaluations. Meesho’s employee-centric approach is geared towards alleviating burnout and anxiety, promoting a healthy work-life balance, and fostering exceptional company culture. The ‘Reset and Recharge’ break is part of the comprehensive MeeCARE wellness program, encompassing mental, physical, financial, and social well-being, along with various initiatives such as employee-led communities, sports events, health services, counselling, financial wellness sessions, and partnerships with NGOs. Meesho has previously introduced innovative policies, including unlimited wellness leave, gender reassignment leave, and pet adoption leave, highlighting their commitment to creating a flexible and empowering workplace.

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Sharp 61% Surge in Female Job Applicants Signals High Demand in India’s Festive Job Market: Report

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Ahead of the festive season in India, there has been a substantial 61% increase in the number of female job applicants, as reported by the prominent job and professional networking platform, apna.co. This surge in women applicants suggests a growing demand for female professionals in various industries, especially in sectors like e-commerce, retail, and hospitality, which tend to experience increased activity during the festive season. The job market has undergone significant changes from 2022 to 2023, with notable shifts in the top five job categories: telecalling, accounts, business development, marketing, and delivery. Notably, several leading companies such as Bajaj, Axis Bank, Paytm, Flipkart, and Reliance actively participated in the festive season job market and offered attractive incentives to attract top talent. “We have witnessed a substantial increase in the number of female applicants and evolving preferences among job seekers over the past year. Looking forward, we expect further changes in the employment landscape as we strive to empower professionals and bridge the gap between job seekers and employers,” noted Nirmit Parikh, Founder and CEO of apna.co. Furthermore, the report revealed that more than 1.2 lakh job openings were documented in August and September 2023 in major Indian cities, reflecting a surge in hiring demand in anticipation of the festive season. City-specific trends indicated distinct preferences, with Delhi showing a preference for roles in Sales & Marketing, Customer Support & Sales, and Accounting Technicians, while Mumbai exhibited high demand for Finance & HR, Sales & Marketing, and Business Development positions.

Sharp 61% Surge in Female Job Applicants Signals High Demand in India’s Festive Job Market: Report Read More »