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Tata Projects to Empower Construction Workers with Skill Development Opportunities
Tata Projects to Empower Construction Workers with Skill Development Opportunities
Freshworks plans to lay off 13% of its employees
Freshworks plans to lay off 13% of its employees
Thyssenkrupp’s steel division to lay off 5,000 employees in five years
Thyssenkrupp's steel division to lay off 5,000 employees in five years
Ola Electric announces layoffs amid mounting market challenges
Ola Electric announced layoffs amid rising market constraints.
Nissan plans to slash 1,000 jobs in Thailand
Nissan plans to slash 1,000 jobs in Thailand
Ford to cut 4000 jobs across Europe and the United Kingdom by 2027
Ford Motor Company has announced plans to reduce its workforce by 4,000 employees across Europe and the UK by the end of 2027. This decision comes in response to economic challenges, increased competition, and slower-than-expected sales of electric vehicles (EVs). The majority of the job cuts will impact Germany, where 2,900 positions are set to be eliminated. In the UK, 800 jobs will be cut over the course of the next three years, while another 300 positions will be reduced across other European Union countries. Currently, Ford employs 28,000 people in Europe, including 5,300 in the UK, and has a total global workforce of 174,000. The company cited the need for operational efficiency as it navigates economic pressures and adapts to changing market demands. A sharp decline in sales has com...
Musk sues OpenAI over lavish compensation to staff
OpenAI is currently facing a lawsuit filed by Elon Musk regarding its employee compensation practices. Musk’s legal action names OpenAI, Microsoft, and Reid Hoffman—a board member of Microsoft and a former board member of OpenAI. Musk claims that these companies are engaging in anticompetitive behavior by offering “lavish compensation” to dominate the generative AI market. He states that OpenAI spends approximately $1.5 billion (around Rs 12,450 crore) annually on its 1,500 employees. The average compensation for these employees is $534,197 (approximately Rs 4.43 crore) per year, with software engineers earning a median salary of $810,000 (around Rs 6.72 crore). This is significantly higher than the average tech worker salary in San Francisco, which is $257,500 (approximately Rs 2.13...
EPFO to activate UAN of employees via Aadhaar-based OTP
By 30 November 2024, employers can complete the activation process of the Universal Account Number (UAN) via Aadhaar-based OTP for all employees who joined during the current fiscal year. After that, they should extend the same process to their remaining employees. This initiative will provide employees with easy and seamless access to online services offered by the Employees’ Provident Fund Organisation (EPFO) 24/7. Employees will be able to manage their Provident Fund (PF) accounts efficiently from anywhere without needing to visit a physical EPFO office. They will have the capability to view and download their PF passbooks, withdraw claims online, update information, and track claims in real time. The Ministry of Labour and Employment aims to benefit the maximum number of employer...
General Motors cuts 1,000 jobs in a cost-cutting effort
General Motors cuts 1,000 jobs in a cost-cutting effort
Audi plans to cut 4,500 positions or 15% of its workforce
Audi plans to cut 4,500 positions or 15% of its workforce
Booking.com to restructure and reduce staff as operating costs rise
Booking.com to restructure and reduce staff as operating costs rise
GoPro cuts 26% of its roles
GoPro cuts 26% of its roles