The funds raised by employees were matched by an equal contribution from Wipro.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
Supreme Court allows more instruments to use the biometric card.
'We look at the opportunities that are going to come in various fields in the next 5 to 10 years, do some research and come up with business plans.' 'Then, we go and seek out founders who will run the actual business.'
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
Union Railways Minister Suresh Prabhu on Wednesday said the Centre was seeking private capital investment in cash-strapped Railways to meet the resource crunch and it does not amount to privatisation as the Railways unions claim.
'So far we have paid our salaries and pension in full because we had some reserve fund.' 'But we cannot afford to do so for more than another three months.'
'The rule for millennials is: You can have a career for life.' 'You have to constantly adapt to the needs of the industry to stay relevant.' 'The jobs will be the same, but the skill sets required will be different.' 'Technology will dominate the nature of jobs available in the future.'
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.
Fund managers weren't too worried in 2014, as it was a year of positive surprises.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
The defence ministry employees have been given an option of donating one-day salary every month for the next one year and this would be done voluntarily.
According to draft Code on Social Security, 2019, gig and platform workers will be entitled to life and disability cover, health and maternity benefits, among others.
The implementation of four labour codes in one go from April 1 next year will usher in a new wave of reforms in industrial relations and also help in attracting more investments but employment generation will remain a key challenge in 2021. This year has also been a challenging year for the work force as well as for employers due to the outbreak of the COVID-19 pandemic. The government imposed a nationwide lockdown from March 25, which had an adverse impact on economic activities and resulted in exodus of migrant workers from large cities to their homes in the hinterland. Many migrant labourers lost their jobs and it took months for them to return back to their work places from their native places.
When the Tatas re-boarded Air India on January 27 last year, the price of aviation turbine fuel was at over Rs 80,000 per kilolitre. Rupee was trading at around Rs 74 to a US dollar. The Omicron variant of Covid-19 was in prevalence - barely a week earlier, India had reported over 340,000 cases on a single day. Seven-day home quarantine of international travellers was the norm.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
The Union home ministry and the labour ministry have asked state governments to coordinate with the chief labour commissioner's (CLC's) office to give a comprehensive data of all the migrant workers by April 11.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Most economists were of the view that the NSSO should release the data, as any move to withhold it will dent the image of country's statistical system.
India is in dire need of cybersecurity professionals. With several recent incidents of data breach, India's cybersecurity journey so far proves this demand. But is the country ready to meet this demand and is it preparing a cybersecurity workforce for the unforeseen cyber future? A report titled "India Cybersecurity Services Landscape" by Nasscom-Data Security Council of India (DSCI) predicts that the Indian cybersecurity services industry would grow at a compound annual growth rate (CAGR) of about 21 per cent to touch $13.6 billion by 2025. And by 2022, the industry, which generated a cumulative revenue of about $4.3 billion in 2019, is expected to grow to $7.6 billion. However, around 3.5 million jobs in the cybersecurity space will remain unfilled by the end of 2021.
Priya Nair tells you how you can use technology to invest better and maximise returns.
One popular strategy is to hire contract workers.
Take an education loan. Encourage them to freelance while studying.
Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
'The BJP is trying to change this mantra.'
Earlier in April, Pfizer said that it had offered a not-for-profit price for its vaccine for the government immunisation programme in India and it remains committed to continuing engagement with the government to make the vaccine available in India.
While the lockdown hit employment in all age groups, it hit the employment of youngsters who are less than 29 years of age much more. The lockdown also hit women more than it has affected men, reveals Mahesh Vyas.
The independent institute advising the PM on jobs seems to have missed the point that the challenge is to create net additional jobs, says Mahesh Vyas.
Around 81 per cent of the workers constitute the unorganised sector - devoid of any social security cover and outside the purview of a complex set of labour laws.
These jobs don't necessarily require a degree in engineering or specialisation in coding.
Workers being laid off will be entitled to full wages of 45 days for every year of service.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
Here's how EPF stacks against other investment options
A friendly working environment, special healthcare facilities, flexible work hours, work from home options, support and camaraderie among the team members keep employees highly motivated in these 10 companies.
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