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Tata Steel Declares ₹303.13 Crore Bonus for Employees in FY 2024-25

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Tata Steel has announced a bonus payout of ₹303.13 crore for its employees for the financial year 2024-25 after finalizing a memorandum of settlement with the Tata Workers’ Union (TWU). Out of the total, around ₹152.44 crore will be disbursed among 11,446 employees from the Jamshedpur divisions, including the Tubes division, the company confirmed. As per the agreement, the minimum annual bonus (for full attendance) stands at ₹39,004, while the maximum (based on actual attendance) goes up to ₹3,92,213. The company clarified that while most employees earn above the eligibility threshold set by the Payment of Bonus (Amendment) Act, 2015, Tata Steel will continue its long-standing practice of granting bonuses to all employees in the unionised category, upholding its tradition of employee welfare. The memorandum was signed in the presence of Tata Steel CEO & MD T.V. Narendran, Chief People Officer Atrayee Sanyal, and other senior executives, along with Jharkhand’s Deputy Labour Commissioner Arvind Kumar. Representing the workforce, TWU President Sanjeev Kumar Choudhary and General Secretary Satish Kumar Singh, along with other office bearers, signed the agreement on behalf of the union. Source: PTI

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Companies News Today Highlights – February 10, 2025: Nykaa to Strengthen Beauty Business for Growth

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Stay updated with the latest corporate developments shaping industries and markets globally. Today’s key highlights include Nykaa’s strategic focus on expanding its beauty segment to enhance customer acquisition. The company plans to continue investing in its core beauty business to drive growth and strengthen its market position. This section provides in-depth insights into financial performances, mergers, acquisitions, and leadership changes impacting businesses across various sectors. Whether you’re an investor, business professional, or market enthusiast, our coverage brings you critical updates to help navigate the evolving economic landscape. From emerging startups to established market leaders, we deliver news that matters—helping you stay ahead in an ever-changing corporate world. Source: Business Standard

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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.

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