As a token of appreciation for the hard work during the merger of HDFC Bank with HDFC Ltd, the HDFC bank has announced anone time ex-gratia payment of around Rs 1,500 crore to its staff as per media reports. HDFC Bank  reported a 37% year-on-year increase in net profit to Rs 16,512 crore in the fourth quarter of the previous financial year. However, net profit grew by only 0.84% on a quarter-on-quarter basis, impacted by a floating provision of Rs 10,900 crore during the fourth quarter. “We are not a quantity player for liabilities or assets. Our focus is on quality, which is a balance be ..read more

The latest ‘Career Outlook Report HY1 (January-June 2024)’ by TeamLease EdTech projects a 7% surge in the recruitment of fresh graduates for India’s manufacturing sector. This increase coincides with heightened capital investments and increased merger and acquisition activities within the flourishing automobile, electronics, and textile domains. Such developments signal promising growth opportunities for the sector, reflecting a positive outlook for stakeholders and prospective employees alike. The Report indicates: The manufacturing industry’s commitment to hiring fresh talent stands at 48 ..read more

More than 70% of workers around the world face climate change-related health risks, with more than 2.4 billion people likely to be exposed to excessive heat on the job, according to a report released Monday by the United Nations. Climate change is already having a severe impact on the safety and health of workers around the world as excessive heat, extreme weather, solar UV radiation and air pollution have resulted in an alarming increase in some diseases, according to the findings from the International Labour Organization, a U.N. agency. Also read: Sayantani Dutta joins Bajaj Hous ..read more

Sayantani Dutta has joined Bajaj Housing Finance as the Chief of Human Resources and Administration based out at pune. In her new role, Sayantani is responsible for partnering with businesses to steer the company’s people agenda. Before this appointment, Sayantani was associated with Kotak Mahindra Bank. Also read: Colgate-Palmolive (India) implements policy for persons with disabilities With 20 years of rich Professional experience Sayantani is a versatile HR professional who gained expertise in equipping, empower and energizing people while partnering with Business for superior results. Sh ..read more

Colgate-Palmolive India, a global leader in oral care, announces the implementation of its Workplace Inclusivity Policy for persons with disabilities (PwD). The newly launched policy underscores the company’s commitment to fostering an inclusive and supportive work environment, ensuring that every member of the Colgate-Palmolive India family, regardless of their ability, is provided with the necessary support and resources to flourish both personally and professionally. Under the WIN policy, employees (and their children) who belong to the Persons with Disabilities (PWD) category are eligible ..read more

NEW DELHI, (PTI): Retirement fund body EPFO registered over 19 per cent growth year-on-year to 1.65 crore members in 2023-24, as per the latest payroll data, showing improvement in the employment situation in the country. “In last 6 and half years alone, more than 6.1 crore members joined the EPFO (Employees’ Provident Fund Organisation) fold, indicating formalisation of the job market,” a labour ministry official told PTI. Also read: Wage bill increases while revenue dips in Top IT companies The data shows that the EPFO had added 61.12 lakh net subscribers in 2018-19, which increased to 78 ..read more

India’s top IT companies, including Tata Consultancy Services (TCS), Infosys, and Wipro, witnessed a rise in their wage bills during the 2024 financial year (FY24) even as their revenue growth dipped according to report published in Techgig. TCS, Infosys, and Wipro saw their average wage costs increase by over 5.5% in FY24 compared to the previous year. This rise comes in contrast to their year-on-year revenue growth, which averaged a slower 3.6%. The cumulative rise in wage costs for these companies amounted to Rs 18,036 crore in FY24. Lateral Hiring: Companies are a ..read more

(PTI): India’s largest IT services companies Tata Consultancy Services, Infosys and Wipro saw a staggering 64,000 employees exiting in FY24, amid a weak demand environment globally and tighter tech spends by clients. Wipro, which announced its Q4 earnings on Friday, reported a fall in headcount numbers to 2,34,054 as of March 2024, against 2,58,570 in the year-ago period. Headcount declined by 24,516 during the financial year ended on March 2024. “…immediate headcount reduction has happened primarily driven by the market and demand environment as well as the operational efficiency which we hav ..read more

Observing that the termination of the services of the employee without holding disciplinary enquiry violates the principles of natural justice, the Supreme Court directed the reinstatement of the Registrar at the GB Pant Institute of Engineering and Technology, Ghurdauri. “…we are of the firm view that the termination of the services of the appellant without holding disciplinary enquiry was totally unjustified and dehors the requirements of law and in gross violation of principles of natural justice. Hence, the learned Division Bench of the High Court fell in grave error in dismissing the writ ..read more

T.V. Today Network Limited (India Today Group) has appointed Navendu Shekhar as Head – Human Resources. He joined the group on 10th April, 2024. Navendu through a social media post stated, “I am excited to share that I’m starting a new journey as Head of Human Resources at India Today- India’s most respected and diversified media conglomerate.” Before this appointment, Navendu was associated with Cashfree Payments as Director HR (Business, Strategy, and Corporate Functions). Also read: Sulabh Kulshreshtha joins Livspace as Head of Human Resources With having over 12 years of professiona ..read more