After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
State employees in Karnataka will have to wait longer for wage hike.
Of those employers granting base pay increases, the average increase is expected to be 2.7 per cent in 2010, down from an actual 3.2 per cent in 2009.
Just about 54 per cent of employers predict fresh job creation in the second half of this year whereas the same sentiment was shared by 68 per cent entities at the start of 2013, while salary hikes too are expected to be on the lower side, said the survey.
After Infosys, hike in other IT companies also seen in 6-9% range.
The Gujarat government paid salaries and pensions worth Rs 29,000 crore in 2015-16.
Infosys is on a much stronger wicket today than where it was a few years ago, despite the impact of the Covid-19 pandemic on the business, says its CEO & MD Salil Parekh. In an interview to Bibhu Ranjan Mishra & Sai Ishwar, Parekh talks about the company's plans with regard to salary hike deferment, fresher hiring, acquisitions, and much more.
Borrowers who contribute over 40 per cent of residential unit's have greater willingness to pay.
The outlay for the President, his secretariat and household establishment has been pegged at Rs 17.33 crore, an increase of Rs 38 lakh over the 2004-05 revised estimates.
The government has enhanced the emoluments of the President, the Vice President and governors to Rs 1.5 lakh, Rs 1.25 lakh and Rs 1.10 lakh respectively. The Cabinet secretary and defence chiefs too have been given substantial increments.
N Chandrasekaran received Rs 2.62 crore (Rs 26.2 million) as perks.
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
Internet search giant Google Inc has approved a handsome pay hike of 30 per cent and bonuses of 250 per cent of the base salary for its top executives starting next year.
The central government employees may get increment in their salaries on the basis of their performance as the Sixth Pay Commission is looking into the possibility of adding productivity-linked incentives to their overall income.
Waking up to the rising inflationary pressure on day-to-day life of their staff, a majority of Indian companies plan to dole out double-digit hike in the employee salaries and bonuses this fiscal, a survey has found.
Thousands of public sector bank employees across the country now have reason to rejoice.
The decision to improve the salary structure of officers at board level and below, along with supervisory staff, was taken at the Cabinet meeting presided over by Prime Minister Manmohan Singh.
In a significant gesture to the men in battle fatigue, the Sixth Pay Commission on Monday elevated the three defence services chiefs to be among the highest paid public servicemen drawing a salary of Rs 90,000 per month equivalent to the cabinet secretary. The 3 chiefs were drawing a fixed monthly pay of Rs 30,000 per month. The Commission elevated the rank of the Director General Armed Forces Medical services to the Secretary, Government of India, with a salary of Rs 80,000.
'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
Based on our extensive research, interactions with experts and HR professional, we present the salary outlook for eight sectors across junior, middle and senior levels.
Employees in India will get 2-4 per cent hike.
'The number of leave accumulated sometimes goes up to 300.' 'The encashed amount is equivalent to almost 10 months' salary.'
Campus placements are already in full-swing and hiring plans of many companies, whose expansion plans were stuck due to policy paralysis, are now getting green signals.
Though the workers have not gone on strike, they moved the labour department for not receiving any wage hike since 2015.
During the debate on the Salary, Allowance and Pension of Members of Parliament (Amendment) Bill, 2010, a strong demand was made for setting up an independent body to decide on their future pay.
The Rs 200,000 plus perks hike for regulators proposed in the Sixth Pay Commission is likely to attract good talent. It would be sufficient incentive for both private sector executives and serving bureaucrats to join as watchdogs. The Commission has recommended that the remuneration of chairpersons of regulatory agencies like the Sebi, Irda, Trai, CERC as well as the Competition Commission of India be hiked to Rs 300,000 if they do not avail of perks like cars and housing.
With prices rising, lawmakers of the world's largest democracy are seeking a better pay package.
Hyundai Motor has over 2,200 permanent workers, around 3,500 trainees and another 5,000 contract workers in the Sriperumbudur facility
SBI unions walk out of pact saying interests not served
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
Although the number of resignations came down at Cognizant in April and continued to slow in May, the impact of attrition would play out in the second quarter also because of the longer notice period in India.
According to the latest Salary Trends survey by ECA International, the biggest pay rises in the region have been forecast in Pakistan where companies are anticipating 12 per cent rises on an average.
Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row -- 5 annual Budgets and one interim -- a feat achieved so far only by former Prime Minister Morarji Desai. With the presentation of interim Budget on February 1, Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who had presented five budgets in a row. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964. The interim Budget 2024-25 to be presented by Sitharaman on February 1, will be a vote-on-account that will give the government authority to spend certain sums of money till a new government comes to office after the April-May general elections.
Ebix had signed the agreement last year to acquire Gurugram-based Yatra Online for an enterprise value of $338 million (about Rs 2,327 crore) in an all-stock deal. The deal was supposed to conclude in the October-December quarter after regulatory approvals but went through several extensions, according to regulatory filings with the US Securities and Exchange Commission.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Experts said the higher pay out will boost consumption demand.
