All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline. In October 2020, the airline's Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK's Kalrock Capital and the UAE-based entrepreneur Murari Lal Jalan. The plan was later cleared by the Mumbai bench of the National Company Law Tribunal (NCLT).
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.
GM cites global pandemic as reason for the step. Firm had stopped selling cars in India in 2017 and stopped production completely on December 24, 2020.
After job cuts at Twitter, Facebook's parent company Meta is planning to begin "large-scale layoffs" this week in what could be the largest reduction to date at a "major technology corporation in a year that has seen a tech-industry retrenchment," a media report said.
The Enforcement Directorate on Saturday said it has searched the Bengaluru-located office and residential premises of Edtech major BYJU's and its CEO and co-founder Raveendran Byju and seized 'incriminating' documents and digital data as part of a foreign exchange violation probe.
'This action sends out a very nasty message in a very strong way -- that nobody is exempt.' 'It is also an attempt to extend the definition of who is an anti-national, who's a terrorist, a definition that's becoming looser under this regime.' 'The sad part is that by the time the courts acquit those arrested, they would've spent years in jail and been taught a lesson.'
The move will help industries in pushing authorities for exemption under various labour laws at a micro-level, along with demanding changes to bring greater flexibility in their operations related to retrenchment, safety standards, and collective bargaining.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
The best possible way to deal with job uncertainty is accepting the fact that it could happen to anyone and if it does, then it is important to work on a multi-pronged strategy on how to get through it in the best possible manner, advises Sumit Sabharwal.
Tanvi Marupally from Conway, Arkansas was last seen in her neighbourhood on January 17 when she left for school on the bus, the Conway police department said.
The decision to drop the proposal was taken last month during a meeting that Finance Minister Arun Jaitley held with labour ministry officials.
The four labour codes are unlikely to be implemented this fiscal in view of slow progress on the drafting of rules by the states and also for political reasons like elections in Uttar Pradesh, a source said. The implementation of these laws assumes significance because once these are implemented there would be reduction in take-home pay of employees and firms have to bear higher provident fund liability. "The ministry of labour is ready with the rules under the four labour codes. But the states have been slow in drafting and finalising those under new codes.
Google will lay off 12,000 jobs across the globe, its CEO Sundar Pichai announced on Friday, becoming the latest tech giant after Microsoft, Facebook and Amazon to retrench staff en mass amid the global economic downturn. In an email to employees, the Indian-origin CEO said: "I have some difficult news to share. We've decided to reduce our workforce by approximately 12,000 roles." Pichai said the layoffs at Google were carried out after a "rigorous review" of its operations.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
The labour ministry has made public a list of 60 officers -- essentially labour commissioners in 20 regions across the country -- along with their e-mail address and contact numbers. They will deal with distress calls from workers who are working under the 'central sphere'.
When a former police constable was appointed Gujarat unit chief, everyone was surprised. Now workers are laying bets on when he will be elevated to the Union Cabinet, notes Aditi Phadnis.
Thackeray also took a veiled dig at chief minister Shinde as the allocation of portfolios is yet to be done though the cabinet was expanded recently after a long wait.
Ford India has offered a "final revised severance package" for its employees at the Chennai unit, which is on average equivalent to 130 days of gross wages per completed year of service. The company said this was rolled out in the absence of any suitable alternative buyer. As part of the earlier package, employees were offered 115 days of gross wages for each completed year of service, which was later revised to 124 days.
11 categories of industries will be exempt from the Madhya Pradesh Industrial Relations (MPIR) Act of 1961. This includes textile, leather, cement, iron and steel, electrical goods, sugar, electricity, public motor transport, engineering including manufacture of motor vehicles, among others.
People who are close to retirement and don't intend to go back to full-time work again should deploy a part of their VRS money in equities so that it keeps growing at a faster rate.
Protests by central labour unions and widespread criticism from Opposition parties because of job losses on account of demonetisation and the GST have put the contentious labour reform proposals in the slow lane.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
The Supreme Court on Monday dismissed a petition filed by the Kerala government against the state high court verdict rejecting the pleas challenging the Centre's decision to lease out Thiruvananthapuram International Airport to Adani Enterprises Ltd.
There have been several occasions when workers have raised an industrial dispute with employers demanding compensation for being retrenched due to continued illness
The textiles sector was most affected witnessing a massive drop in contractual employment as outward shipments shrank
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
Companies today are taking a very fashionable way to reduce their workforce. Instead of the outright firing of employees, an alternative approach that some companies are using is the passive-aggressive method which is both deliberate and accidental, points out corporate lawyer Ishanee Sharma.
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
Sitharaman said the Bill has proposed giving a legal framework for fixed-term employment through which contract workers serving a fixed-tenure will get equal statutory social security benefits as regular workers in the same unit.
The Madras High Court on Tuesday dismissed a petition filed by an employee of TCS who was served with a termination order after counsel for the software major said the firm has revoked it.
Amid China's economic slowdown, the country's economic challenges may increase manifold and its economy may be hit harder in the wake of the Ukraine-Russia crisis.
The Madras High Court has restrained software major TCS from retrenching its analyst who has been issued termination order by the company.
'Re-evaluate your career goals and be ready to embrace challenges. ' 'Work thoroughly on your resume by highlighting the key skills and major areas of work.' 'Check and apply for jobs posted by employers regularly.' 'Stay positive.'
Deserted streets, limited customers, no revenue generation, huge rentals and restricted operations have forced many outlets to put their shutters down permanently while many others are struggling to survive by retrenching staff and tightening their purse strings on several other expenses.
While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
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.
Taiwan considers itself a sovereign state -- but China views the self-ruled island as a breakaway province. Beijing has not ruled out the possible use of force to achieve unification.
'The government could not even ensure the payment of wages by the private sector during the lockdown.' 'We have experienced all kinds of exploitation during the pandemic.'
After declaring that it would do whatever it takes to cut flab, Kingfisher Airlines has now said it will not retrench cabin staff.
