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Swiggy Delivery Team in Mumbai Goes on Indefinite Strike, Demanding Pay Increase

/ Human Resource Community

The Swiggy unit affiliated with the Rashtriya Karamchari Sena, a workers’ union in Maharashtra, has initiated an indefinite strike. Delivery workers employed by the Bengaluru-based food delivery giant are demanding higher wages and improved working conditions. This marks the third day of the ongoing strike, during which delivery personnel have been conducting bike rallies while displaying placards outlining their demands. The strike has had a noticeable impact on food delivery services, including Swiggy’s Instamart service in Mumbai, as local residents are unable to place orders through the company’s app. The core grievance of these delivery personnel, who currently receive Rs 20 for covering a six-kilometre distance, is their struggle to make ends meet due to soaring fuel prices. They argue that they now earn only around Rs 40, a significant drop from the earlier days when they could earn Rs 100. Their compensation is based on a per-order payment system, which factors in the distance travelled for delivery, incentives, and surge pay. In May 2023, a similar strike occurred among Swiggy’s delivery personnel in Chennai. This protest arose in response to the platform’s reduction of various employee benefits, such as delivery fees, incentives, and petrol allowances. Employees were also frustrated by fines imposed for late deliveries, without any consideration for their concerns. It’s worth noting that the Chennai strike was initiated following proper notice provided to both the company and the labour department.

Swiggy Delivery Team in Mumbai Goes on Indefinite Strike, Demanding Pay Increase Read More »

Meta Considers $14 Monthly Ad-Free Plan for Facebook and Instagram in EU

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Meta Platforms is reportedly considering a new plan in which users in the European Union may have to pay up to $14 per month to access ad-free versions of Facebook or Instagram. Alternatively, they can opt for personalized ads on the free versions of these platforms. According to sources familiar with the proposal, Meta would charge approximately 10 euros ($10.46) per month for a single Facebook or Instagram account when accessed on a desktop computer, with an additional fee of about 6 euros for each linked account. On mobile devices, the cost for a single account would be around 13 euros due to commissions imposed by Apple’s and Google’s app stores. Earlier this year, Meta received a 390 million euro fine from Ireland’s Data Privacy Commissioner, which restricted its ability to use the “contract” legal basis for delivering ads based on users’ online activities. In response, Meta announced its intention to seek user consent in the EU before allowing businesses to target ads, aiming to comply with evolving regulatory requirements in the region. Now, Meta has informed European regulators of its plans to introduce the ad-free offering, referred to as “subscription no ads” (SNA), in the coming months for European users. A Meta spokesperson stated that the company values “free services supported by personalized ads” but is exploring options to ensure compliance with evolving regulations. As of now, Meta, Ireland’s Data Protection Commission, and the European Commission have not provided comments in response to Reuters’ inquiries. The New York Times initially reported on Meta’s consideration of paid versions of Facebook and Instagram without ads for EU users, although specific pricing details were not disclosed.

Meta Considers $14 Monthly Ad-Free Plan for Facebook and Instagram in EU Read More »

Sintex BAPL’s Investment in Telangana to Create 1000 Jobs and Strengthen Building Materials Industry

/ Human Resource Community

Sintex BAPL, a wholly-owned subsidiary of Welspun Corp, has inked a formal agreement with the Telangana government to establish a manufacturing facility in the state. This partnership is based on a memorandum of understanding (MoU) recently signed. Under Telangana’s incentive program, this manufacturing unit will necessitate an investment of Rs 350 crore over the next three years and is poised to generate employment for 1,000 individuals within the state. The primary focus of this facility will be the production of water tanks and PVC pipes within Telangana. Sintex BAPL, which is experiencing significant growth in the water tank segment, also has plans to commence the manufacturing of pipes, including PV pipes and fittings. This strategic move is aimed at solidifying Welspun’s presence in the building materials sector. The groundbreaking ceremony for this manufacturing unit took place in the presence of Telangana’s IT and Industries Minister, KT Rama Rao, and BK Goenka, Chairman of Welspun World, along with other notable figures. It’s worth noting that Telangana has been actively prioritizing job creation initiatives. Earlier this year, the Central government designated several locations for the establishment of PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks, particularly aimed at bolstering the textile industry. Telangana was identified as one of the seven states for this endeavour, alongside Tamil Nadu, Gujarat, Karnataka, Maharashtra, Madhya Pradesh, and Uttar Pradesh. These parks are anticipated to yield significant employment opportunities. The PM MITRA Parks model involves collaborative efforts between the central and state governments to attract substantial investments (up to Rs 70,000 crore), foster innovation, and contribute to making India a global hub for textile manufacturing and exports.

Sintex BAPL’s Investment in Telangana to Create 1000 Jobs and Strengthen Building Materials Industry Read More »

Byju’s Announces Major Workforce Reduction: 4,000 Employees Impacted in Restructuring Drive

/ Human Resource Community

Byju’s, the edtech giant, is undergoing a significant restructuring that will result in a reduction of its workforce. Approximately 4,000 employees, or 11% of its current 35,000-strong workforce, will be affected by these layoffs. The restructuring aims to simplify the company’s operational structure, cut expenses, and improve its cash flow to ensure long-term sustainability. This process is expected to be completed within the next few weeks Byju’s has witnessed several senior-level departures in recent months. The layoffs will primarily impact the parent company, Think & Learn, and will not affect its subsidiaries. Arjun Mohan, the newly appointed CEO of Byju’s India business, is overseeing the restructuring with the full knowledge of the firm’s investors. Over the past year, Byju’s has already laid off 7,000 employees, including about 600 from its group companies, WhiteHat Jr and Toppr, in an effort to achieve cost efficiency. The company is also exploring options to repay a $1.2 billion loan and may need to sell two of its businesses to stabilize its financial situation. However, the anticipated sale is expected to generate only around $800 million. In June of this year, Byju’s implemented a significant reduction in its workforce, affecting approximately 1,000 employees across various departments, including mentoring, logistics, training, sales, post-sales, and finance. The company now faces the challenge of meeting its loan repayment commitments to lenders while also seeking additional capital through fundraising efforts.

Byju’s Announces Major Workforce Reduction: 4,000 Employees Impacted in Restructuring Drive Read More »

Amazon and Target Prepare for Holiday Shopping Rush with Massive Hiring Spree

/ Human Resource Community

Amazon and Target have announced their plans to boost their workforce for the upcoming holiday season. Amazon intends to hire a significant 250,000 full- and part-time employees, marking a 67% increase from the previous year. Similarly, Target has revealed its commitment to adding nearly 100,000 seasonal positions, maintaining the same number as last year. These announcements come on the heels of Macy’s Inc.’s declaration on Monday that it will onboard more than 38,000 full- and part-time seasonal workers at its Macy’s, Bloomingdale’s, and Bluemercury stores nationwide. This represents a slight decrease from the 41,000 seasonal hires planned in 2022. Amazon attributes the increase in available positions to its establishment of over 50 new fulfilment centres, delivery stations, and same-day delivery sites in the United States this year. Additionally, the e-commerce giant has shared plans to invest $1.3 billion in pay raises for warehouse and transportation staff this year, elevating the average pay for these roles from $19 to over $20.50 per hour. John Felton, Amazon’s senior vice president of Worldwide Operations, expressed enthusiasm about the holiday season and the company’s plan to hire 250,000 more workers this year to better serve customers nationwide. To capture consumer attention and provide early holiday shopping opportunities, retailers such as Amazon and Target have been launching holiday deals as early as October, a trend that continues this year. Consumer spending has experienced fluctuations throughout the year, with notable surges in January and subsequent declines in February and March, followed by a recovery in the spring and summer. According to the Commerce Department, retail sales increased by 0.6% in August, partially driven by a significant rise in gas prices. Mastercard SpendingPulse, a tracker of spending across all payment methods, predicts a 3.7% increase in U.S. retail sales (excluding automobiles) from November to late December, representing a decrease from the 7.6% growth observed last year. Deloitte, an accounting firm, also anticipates holiday sales growth, estimating a range between 3.5% and 4.6%.

Amazon and Target Prepare for Holiday Shopping Rush with Massive Hiring Spree Read More »

SAP Labs India Aims to Double AI Workforce by 2024 to Drive Business Evolution

/ Human Resource Community

SAP Labs India, a branch of the renowned German software company SAP, has ambitious plans to double its workforce in India by 2024, with a specific focus on expanding its AI talent pool. This strategic move is driven by the evolving demands of the business landscape. SAP’s largest global research and development centre, based in Bengaluru, is poised to become the epicentre of the company’s AI advancements. The company is committed to offering readily accessible AI, seamlessly integrated into SAP applications that underpin critical business operations. To achieve this, SAP will bolster its AI capabilities through a combination of new hires and upskilling its current workforce. Presently, the Indian facility houses 15,000 staff members. Additionally, SAP is actively preparing for the launch of its second development centre in Devanahalli, Bengaluru, slated for early 2025. SAP’s AI solutions are deeply embedded in systems that drive essential business processes for customers. They collaborate with users to unearth valuable insights and efficiencies, thereby elevating their knowledge and overall value to their businesses. India is one of SAP’s five pivotal locations, with offices in Pune, Mumbai, Gurugram, Hyderabad, and Bengaluru. While India currently leads in terms of AI skill adoption and boasts a substantial concentration of AI experts, ranking fifth globally in AI research publications, a study by Nasscom in February highlighted this fact. Another study conducted by the Indian Institute of Management Ahmedabad (IIM-A) and Boston Consulting Group (BCG) in July emphasized India’s need for approximately 25,000 to 30,000 AI-ML specialists in the next five years.

SAP Labs India Aims to Double AI Workforce by 2024 to Drive Business Evolution Read More »

Capgemini Unveils its Tenth Employee Share Ownership Program

/ Human Resource Community

Capgemini is taking significant steps to enhance employee development and performance by introducing a fresh Employee Share Ownership Plan (ESOP). This initiative is open to nearly 97% of the company’s workforce and will be implemented through a capital increase reserved exclusively for Capgemini employees, with a maximum allocation of 3,200,000 shares. Employees will have the opportunity to acquire Capgemini shares through subscription plans, including leveraged and guaranteed options. These plans will not only allow them to safeguard their invested amount until the shares become accessible but also ensure a certain level of protection. Furthermore, individuals holding these shares will have voting rights, which may vary depending on the specific plan and circumstances. These shareholders may include participants in the Fonds Commun de Placement d’Entreprise (FCPE), employees with direct share ownership, and/or the financial institution overseeing the offer or its affiliated parties. This marks the tenth installment in Capgemini’s ESOP offerings, aimed at maintaining employee shareholding at approximately 8% of Capgemini SE’s share capital. The timeline for this program is as follows: it will be open for participation from September 15 to October 4, 2023 (inclusive), followed by a subscription/revocation period from November 13 to November 15, 2023 (inclusive). The pricing for the new shares will be determined on November 10, 2023, and the increase in share capital will be completed on December 19, 2023. The implementation of the leveraged guaranteed offering will involve hedging transactions conducted by the financial institution responsible for organizing the offer. For this tenth program, Crédit Agricole Corporate and Investment Bank will be handling these transactions, which may take place in the market or off-market and may include actions such as buying and/or selling shares, acquiring call options, or any other relevant transactions.

Capgemini Unveils its Tenth Employee Share Ownership Program Read More »

Chargebee Announces 10% Workforce Reduction Due to Market Shifts

/ Human Resource Community

Chargebee, attributing market changes as the primary driver, has decided to lay off approximately 10% of its global workforce. This workforce reduction is expected to impact around 100 to 120 employees across various departments within the company. Chargebee now aims to focus on its upcoming phase of more streamlined expansion, which entails restructuring and concentrating on specific key objectives. Furthermore, in light of ongoing technological advancements and market dynamics in the industry, Chargebee will place greater emphasis on enhancing its customers’ experience and refining its core products. The company is committed to providing severance packages to departing employees and will adhere to labor laws applicable in their respective countries. This move follows a previous round of staff cuts at Chargebee in November 2022 when the company cited economic challenges, resulting in the separation of approximately 142 employees, equivalent to roughly 10% of its workforce at that time. Established in 2011 by Krish Subramanian, Rajaraman Santhanam, Saravanan KP, and Thiyagarajan T, Chargebee is a revenue management platform that streamlines revenue operations for SaaS businesses. As a unicorn company, Chargebee serves a client base of over 4,000 companies, including notable names such as Okta, Freshworks, and Calendly. In its most recent funding round, the company successfully secured $250 million, led by the US-based hedge fund Tiger Global and Peak XV Partners (formerly known as Sequoia Capital India). To date, Chargebee has raised nearly half a billion dollars in funding through multiple financing rounds.

Chargebee Announces 10% Workforce Reduction Due to Market Shifts Read More »

Microsoft Introduces Confidential ‘Impact Descriptors’ for Managerial Performance Assessments

/ Human Resource Community

Microsoft has introduced a confidential performance-rating system called ‘impact descriptors,’ specifically designed for use by managers and not disclosed to employees. These ratings play a crucial role in determining employee compensation and bonuses, which Microsoft refers to as ‘rewards.’ The company emphasizes that these descriptors are distinct from traditional performance ratings or labels associated with individual employees. These undisclosed ratings are intended to encourage a growth-oriented mindset. The impact descriptors consist of four categories: ‘Lower than Expected Impact (LITE),’ ‘Slightly Lower Impact than Expected (SLITE),’ ‘Successful Impact,’ and ‘Exceptional Impact.’ Each category is clearly defined in a guideline document to assist managers in their assessments. Employees in the ‘Lower than Expected Impact (LITE)’ category are those who consistently fall short of meeting expectations, lack a growth mindset, or do not align with Microsoft’s cultural values. In the ‘Slightly Lower Impact than Expected (SLITE)’ category are employees who occasionally miss expectations or display inconsistency in meeting cultural expectations but show a willingness to learn and improve. The ‘successful impact’ category includes employees who consistently meet or exceed expectations, embrace a growth mindset, and align with Microsoft’s cultural values. The ‘exceptional impact’ category is reserved for employees who consistently deliver exceptional results, surpass all expectations, demonstrate an outstanding growth mindset, and adhere to Microsoft’s cultural values. Managers are encouraged to evaluate and assess employee performance or ‘impact’ based on these impact descriptors, explaining how an employee has demonstrated a particular level of impact during the fiscal year. However, they are explicitly discouraged from using the acronyms LITE, SLITE, and so on, or converting the descriptors into ratings or labels. Microsoft’s managers are expected to utilize these descriptors solely as a guidance tool for assessing employee impact, facilitating reward decisions, and providing constructive feedback.

Microsoft Introduces Confidential ‘Impact Descriptors’ for Managerial Performance Assessments Read More »

Airbus to Ramp Up Workforce in India with 5,000 New Employees

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Airbus, the renowned international aerospace firm, has unveiled plans to bolster its workforce in India, with a target of hiring an additional 2,000 engineers in the coming years. This strategic move aims to increase the company’s total headcount in India to an impressive 5,000 employees. Airbus has solidified this commitment through the signing of a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya (GSV) in Vadodara, wherein a specialized engineering program tailored for the aerospace sector will be established. The partnership with Gati Shakti Vishwavidyalaya is poised to cultivate a robust pool of highly trained professionals, primed to meet the burgeoning demands within the thriving aerospace industry. Airbus views India not only as a significant market but also as a crucial hub for talent. The company places paramount importance on nurturing the aerospace ecosystem in India and recognizes the pivotal role of investing in human capital development. Currently, Airbus boasts over 3,000 engineers within its design and digital centres, and by the year 2025, this number is anticipated to surge past the 5,000 mark. The MoU was formalized in the presence of Railway Minister Ashwini Vaishnaw. Airbus, a globally renowned aerospace giant, is renowned for its design, manufacturing, and marketing of commercial and military aircraft, including the iconic A320, A330, and A380 series. The company’s scope extends to the production of space-related equipment and boasts a global presence with subsidiaries and manufacturing facilities spread across various nations.

Airbus to Ramp Up Workforce in India with 5,000 New Employees Read More »