Author: HR Talk

Byju’s salary delays continue despite fresh funding

Lion Electric lays off 10% of workforce

Paramount to reduce 15% of its roles in the United States.

Dubai is introducing 4-day workweek for 15 public-sector entities

Deutsche Bahn (DB) has announced a significant restructuring plan that includes cutting approximately 30,000 full-time jobs over the next five years. This decision comes after the company reported a €1.2 billion loss in the first half of the year, citing recent strikes, major construction projects, and extreme weather conditions as the primary causes. In addition to the job cuts, the company also plans to close unprofitable divisions, particularly in rural and economically weaker regions. Specific railway lines are reportedly targeted for closure as well. The German government, which owns Deutsche Bahn, is pushing for the company to become more economical…

Microsoft announced a special one-time cash award for employees, adding an extra 10-25 percent to their annual bonuses for the recently completed fiscal year. This gesture is aimed at recognizing the significant contributions and achievements of its workforce. In a companywide memo from Kathleen Hogan, chief people officer at Microsoft, employees were informed that executives would not be eligible for this bonus. The company is prioritizing higher percentages for employees at lower levels to ensure a fair distribution. The special one-time cash award will be available to all employees in levels 67 and below, including hourly and equivalent positions. The…

Intel is making significant efforts to reduce costs, including a plan to reduce its workforce by at least 15 percent. This could mean laying off over 15,000 employees, resulting in an estimated cost savings of around $10 billion by 2025. The company, which currently has a workforce of at least 125,000, estimates that the headcount reduction could impact up to 19,000 employees. In addition to the layoffs, Intel is also planning to cut spending in research and development, as well as marketing, by billions annually for the next two years. The company will reduce capital expenses by 20 percent this…

Walt Disney is laying off employees in its television unit. This will result in a reduction of two percent of the workforce at Disney Entertainment Television, which is about 140 employees. National Geographic will also see a reduction in its team by 13 percent. The layoffs are a cost-cutting measure and will impact ABC-owned television stations, Freeform (the cable channel), Disney’s linear networks, unscripted, marketing, and publicity. National Geographic will experience the highest number of job cuts, with about 60 roles being eliminated. The cable network industry is facing declining viewership, and the streaming business has become increasingly competitive. Disney’s…

General Motors (GM) is revamping its performance evaluation system for salaried employees in the US. The objective is to reward high performers and encourage low performers to either improve or leave. Under the new strategy, the top 5% of employees will receive 150% bonuses, an increase from the previous system. This change will also aid the company in attracting and retaining the talent necessary to achieve its ambitious goals as it shifts towards electric vehicles. The updated performance-ranking system, outlined in an internal memo, introduces a five-scale evaluation range. The rankings range from ‘significantly exceeds expectations’ to ‘does not meet…

TVS Mobility, the holding company managed by the T S Rajam family, has signed a Memorandum of Understanding (MoU) with Mitsubishi Corporation (MC) to launch the TVS Mobility Mitsubishi Employee Exchange Programme (TMMEEP). This initiative aims to enhance skills, promote mutual growth, and train the next generation of leaders. Under the agreement, employees from TVS Mobility will be hosted by MC Japan and its partners for skill development and training, with a primary focus on the automotive and mobility sectors, including inspection in auctions and service mechanics. Conversely, TVS Mobility India will host employees from MC, providing them with insights…