Operations of public sector banks (PSBs) may be impacted as bank union AIBEA has given a strike call for Saturday to oppose incessant outsourcing of jobs. Although the officers are not part of the strike, there may be some impact on cash deposit and withdrawal, clearing of cheques etc. Several banks, including Bank of Baroda and Punjab & Sind Bank, have already informed their customers about the potential impact on services if November 19 strike materalises.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
The SEBI and the RBI will look into it. Let their reports come in, BJP MP Mahesh Jethmalani said.
HR experts estimate that up to 70 per cent companies in the manufacturing and services space including sectors like auto components, edutech and construction equipment are looking to restore the salary cuts over the next couple of months.
Thousands of Andhra Pradesh government employees protested in Vijayawada against the state government's new Pay Revision Commission, demanding amendments to it.
Managing human resources remains a major and under-appreciated challenge for most start-ups.
The statue of Gandhi, which was donated by the Indian government to the city of Davis, was installed by the city council four years ago amidst protests from anti-Gandhi and anti-India organisations.
A 17-year-old girl died right outside a hospital in Uttar Pradesh's Mainpuri, allegedly after the staff removed her from there after treating her for two days.
Nokia Siemens Networks plans to increase manpower at its Global Network Solutions Centre (GNSC) in Chennai to 1,800 from 1,000 by the end of 2011 to meet growing demand.
Trade unions on Wednesday opposed divestment in public sector undertakings and hike in foreign direct investment in telecom, insurance and aviation sectors
The protesting farmers dubbed the three laws as "anti-farmer" and claimed they infringe upon their basic right to sell their produce at MSP.
Industry players said IT hiring was not as strong as it was in 2022. One reason is the high bench IT firms have due to earlier hiring.
Starbucks' new Indian-origin CEO Laxman Narasimhan has said he will work as a barista once a month in stores to stay close to the company's culture, customers, challenges and opportunities.
Delhi CM Arvind Kejriwal said the govt will extend a loan of Rs 551 crore to two civic bodies; and alleged a situation was being created through the ongoing strike to prepare grounds for imposition of central rule.
With the economy giving positive signals, hiring is back. However, so is attrition, with disgruntled employees demanding more or moving to greener pastures to make up for lost time and money.
In a move that will benefit a significantly large number of Indian technology professionals, the US is set to begin a pilot programme for domestic renewal of certain categories of H-1B visas in December. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
The road transport service ferries nearly 45 lakh passengers a day.
As a result of the strike, cheques amounting to Rs 3000 crore (Rs 30 billion) were pending clearance. Inter-bank transaction through RTGS was also brought to a halt, the statement said.
One of the reasons behind the changing trend is that the applicants are spoiled for choice
The Aam Aadmi Party on Thursday extended its support to a protest organised by Delhi University teachers, employees and students' unions over police inaction into allegations of sexual harassment against a Delhi University college principal by a sacked employee who later committed suicide.
Jiomart B2B is the latest among organised supply-chain companies to bite the bullet, shutting down its warehouses, and asking its employees to leave. Why are companies finding it difficult to sustain the supply-chain business? Experts point out that gross margins in supplying fast-moving consumer goods (FMCGs) are very low.
Amid a spurt in Covid-19 cases, the use of face masks has been made mandatory for employees, patients and visitors in all civic-run hospitals in Mumbai, the Brihanmumbai Municipal Corporation (BMC) said on Monday as it reviewed preparedness to deal with rising infections, especially availability of medical oxygen and medicines.
Conflicting views on Coal India (CIL) might leave investors confused. The bullish perspective that India has strong power demand (and also high steel production) means high demand for coal. As CIL is the monopoly producer of coal -- supplying over 80 per cent of the domestic requirement - the public sector undertaking should be a beneficiary of the rising power demand.
A joint forum of Air India unions on Friday sought the labour department's 'urgent' intervention and initiation of conciliation proceedings in the matter of their passage policy and service conditions. On December 24, the forum comprising IPG, ACEU, AIEU and AICCA, in its demand notice to Air India managing director and chief executive officer Campbell Wilson, had protested against the changes in their service conditions. Tata Group took control of the then government-led Air India in January this year.
Amnesty India said allegations mentioned in a complaint by an Akhil Bharatiya Vidyarthi Parishad representative against it were "without substance".
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The UT has been facing a widespread power shutdown Since Sunday owing to a deadlock between the Power Development Department (PDD) employees and the administration over the latter's bid to privatise electricity in the region.
Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore during the reporting season from Rs 50,591 crore a year ago.
Social activist Amit Koul, who was part of the delegation, said they have invited Gandhi to their Jagti township along the Jammu-Srinagar National Highway and that he is likely to visit the community on his way to Kashmir.
Quick commerce startups hope to race towards better days. Can they crack the execution code?
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
Employees at Ford India's Chennai unit have called off the strike that started on May 30. Following this, the company has revised its severance package from earlier 115 days to 121 days for employees supporting production. The company indicated it would continue 'constructive discussions' with the unions in order to sweeten the deal further, if required.
The City of Toronto has formally apologised to the World Sikh Organisation of Canada for 'any delay' in reinstating the Sikh security guards whose services were terminated over a 'no-beard' policy.
Tikait told reporters that there was "pressure" from government to minimise the reach of farmers.
Most of the hirings are, however, in the entry or junior level.
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First's voluntary plea to initiate the insolvency resolution process against the airline. A two-member bench comprising President Justice Ramalingam Sudhakar and L N Gupta also appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company. It has also put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
The News Broadcasters Association (NBA) Thursday urged the government to 'exempt and exclude' the traditional television news media and its extended presence on the digital news platforms from the ambit of the IT Rules 2021, saying it is already 'sufficiently regulated' by various statutes, laws, guidelines, codes and regulations.
The country's largest lender SBI on Saturday reported a 9.13 per cent rise in consolidated net profit to Rs 16,099.58 crore for the September quarter, weighed down by money it had to set aside for employees' impending wage and pension revisions. On a standalone basis, the State Bank of India (SBI) had a 8.03 per cent increase in the profit after tax for the reporting quarter at Rs 14,330 crore. However, the same was down 15.13 per cent compared to Rs 16,884 crore in the June quarter.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
