Understanding severance pay isn't just for those who are losing their jobs
Ford India, the subsidiary of United States-based automaker Ford on Thursday said it has arrived at a settlement with the employees union on the severance package following the company's decision to shut its Tamil Nadu plant as part of a restructuring exercise. Accordingly, the company would revise the final severance settlement to an average equivalent of 140 days of gross wages per completed year of service from the ongoing offer of 130 days. "An additional one-time lump sum of Rs 1.50 lakh will also be included in the final settlement." Ford India said in a statement.
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.
Giving a fresh twist to the Ford India employees' strike at the firm's Maraimalai Nagar factory, the company has set the deadline for Monday evening for workers to accept a 'non-negotiable' severance package it is offering. It also indicated the possibility of legal action against workers from June 14 (Tuesday) and warned of early closure of the unit, before completing remaining export volume production. For the past 14 days, some 2,000 employees at the unit had struck work, seeking a better package from the company.
US-based IT firm Oracle has reportedly laid off approximately 12,000 employees in India, with further layoffs expected. The company cited organisational changes and streamlining of operations as reasons for the retrenchment.
Jharkhand police have arrested multiple individuals and seized significant quantities of brown sugar in two separate incidents in Seraikela-Kharsawan and Chatra districts.
In view of the disruptive situations, the Central government has also announced a financial relief package of Rs 497 crores aimed at helping exporters affected by disruptions in West Asia.
A Metropolitan Police investigation into a "sophisticated" west London organised crime network dealing in heroin and crack cocaine has resulted in three Indian-origin men being sentenced to a total of over 22 years.
The Cabinet Committee on Economic Affairs (CCEA) has approved national highway projects worth approximately 24,249.6 crore across Odisha, Telangana, Madhya Pradesh, and Bihar, aiming to enhance connectivity, reduce travel times, and stimulate economic growth.
Besides, the Vikram Pandit-led bank has hinted at further job cuts in the coming days, after already having cut down or announced plans to bring down its workforce to below 3,00,000 employees from more than 3,75,000 at the end of 2007. In an internal mail to all its employees in the US, Citi's human resources head Paul McKinnon said on Monday that it would eliminate some 'supplemental severance payment' for the employees with 10 or more years of service.
Vaibhav Sooryavanshi's possible T20I debut and India's batting struggles after the Ireland whitewash dominate the build-up to the five-match series against England, where testing conditions await Shreyas Iyer's side.
India has launched anti-dumping investigations into imports of thermal paper, Biaxially Oriented Polyamide (BOPA) Film, and certain antioxidants from China, following complaints from domestic manufacturers alleging material injury due to cheap imports.
A doctor in Anantnag, Jammu and Kashmir, has been suspended following an inquiry into alleged large-scale procedural irregularities, including a pacemaker implantation scam where nearly 50 per cent of evaluated patients underwent unnecessary advanced cardiac surgical procedures. The inquiry revealed fraudulent insurance claims, patient exploitation, and manipulation of medical records.
Amazon plans to significantly expand its use of automation and advanced robotics, including systems like the SLAM labeler, across its Indian fulfilment centres. The company, which has committed substantial investments in India, also highlighted its global rollout of autonomous robots like Proteus and cautioned against premature AI regulation that could stifle innovation.
Hegseth said the military campaign, code-named Operation Epic Fury, against Iran is "laser focused" and "decisive," with objectives set directly by the US administration remaining unchanged since the start of operations.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
The Maharashtra Food and Drug Administration (FDA) conducted raids across the state, arresting 33 individuals and sealing 27 establishments for food adulteration, selling banned gutkha, and unhygienic food production.
The Cockroach Janta Party (CJP) founder Abhijeet Dipke has appealed to Prime Minister Narendra Modi to provide Rs 1 crore compensation to families of students who allegedly died by suicide amid examination controversies, while also demanding the sacking of Union Education Minister Dharmendra Pradhan.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
A viral Rs 2.5 lakh school trip to Japan has exposed the soaring, extraneous costs of modern Indian education. From textbook monopolies to elite excursions, these hidden fees create intense classroom peer pressure even as parents face a financial spiral. We ask you, Dear Reader, to share your experience with us.
TMC's Falta candidate Jahangir Khan withdrew from the May 21 re-election, citing Chief Minister Suvendu Adhikari's promise of a special development package for the area.
Lewis Hamilton celebrated his strongest performance yet in Ferrari red after finishing second at the Canadian Grand Prix on Sunday, crediting behind-the-scenes changes and a fresh approach to car setup for finally unlocking his potential with the Italian team.
India begin their 2026 Test season against Afghanistan with several selection questions to answer, including the No. 3 spot and Ravindra Jadeja's long-term successor, as they build towards key World Test Championship assignments.
Delhi Police have arrested four individuals involved in an interstate racket manufacturing and distributing counterfeit prescription drugs, uncovering an illegal processing unit in Delhi.
The Uttar Pradesh government's 'One District One Cuisine' initiative, aimed at promoting local delicacies, has drawn criticism for omitting several iconic non-vegetarian dishes closely associated with the state's districts.
West Bengal Chief Minister Suvendu Adhikari announced the state government will move the Supreme Court to vacate the stay on a CBI probe into the alleged Gorkhaland Territorial Administration teacher recruitment scam. The decision follows complaints of corruption and illegal teacher recruitment within the GTA.
Cockroach Janata Party, which according to Dipke had 201,000 followers on X, came about following a controversy over Chief Justice of India Surya Kant using "parasites" and "cockroaches" while pulling up a lawyer for his plea seeking senior designation.
The amazing story of how a little known cheese from Ladakh stunned the world!
IT major Wipro on Thursday said it will pay Rs 7 crore (Rs 70 million) each to its former joint chief executives Girish Paranjpe and Suresh Vaswani as severance packages.
A 33-year-old female senior account executive in Gurugram died by suicide after jumping from her office building. Police have arrested her husband following allegations of harassment and abetment to suicide.
Lucknow Super Giants' IPL season was marked by inconsistent selections, questionable combinations, and a lack of clarity in their strongest XI, leading to a disappointing campaign.
The Centre has informed the Supreme Court that 217 Indian nationals reportedly joined the Russian armed forces, with 49 fatalities amid the Russia-Ukraine war, and efforts are underway to repatriate those who were misled.
With Tata Motors subsidiary taking over Ford's passenger vehicle (PV) manufacturing unit at Sanand in Gujarat, uncertainty over the future of Ford's Maraimalai Nagar unit in Tamil Nadu continues, with workers protesting on Thursday demanding a better severance package. There are over 2,000 employees working at the unit. On Thursday, there was a meeting between agitating employees and the state labour department. The workers started protests at the Chennai unit after Tata Passenger Electric Mobility signed a tripartite memorandum of understanding with Ford India and the Government of Gujarat for acquisition of Ford's PV manufacturing plant at Sanand.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Tovino Thomas storms into Athiradi like a one-man festival riot, turning this colourful campus entertainer into a loud, chaotic and mostly enjoyable ego clash.
Delhi Police have dismantled a counterfeit toothpaste manufacturing unit in Khanjawala, arresting the owner and seizing a large quantity of fake toothpaste and manufacturing equipment.
Punjab Chief Minister Bhagwant Mann has accused the BJP-led central government of playing 'dangerous games' with Punjab, alleging the misuse of agencies like the Enforcement Directorate (ED) and the CBI for political purposes.
Despite the ongoing West Asia conflict causing global trade route disruptions, Mercedes-Benz India reports resilient customer demand, particularly for its new electric CLA sedan, though it faces challenges with component supply delays and escalating shipping costs.
Delhi Police have dismantled an organised interstate racket involved in manufacturing and distributing counterfeit life-saving medicines, arresting six individuals and seizing fake drugs worth approximately Rs 2 crore. The investigation also revealed a network of fake GST firms used for generating bogus invoices and laundering money.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
