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Harley-Davidson fire CFO and 700 Employees

10Jul By AdityaNo Comments

Automobile

Harley-Davidson fire CFO and 700 Employees

CHICAGO, 10th July 2020: The 117-year-old American bike company Harley-Davidson announced that it's eliminating 700 jobs and replacing CFO as part of its rebuild of the company plan. Chief Financial Officer John Olin, who has been with Harley 17 years, has left the company. His duties are being assumed on an interim basis by Treasurer Darrell Thomas, the company said in a news release. "Significant changes are necessary and we must move in new directions," Jochen Zeitz, chairman, president, and CEO said in the press release. Harley’s new efforts called “Rewire.” in which about 700 positions being eliminated by the end of the year. Harley has 6,000 employees worldwide. The cuts will affect 500 current employees globally and cost the company $50 million in restructuring co...

2Mar By AdityaNo Comments

News

Droom Set to Hire 500 Employees in 2019

India's online car&bike selling company Droom is looking to hire as many as 500 employees in 2019. One of the leading car&bike selling platforms in India, Droom has registered strong growth numbers while aggressively marketing its brand to users across the country. Now, the company hopes to take next stride with its latest hiring announcement. It aims for expansion and diversification journey, evolving newer and more evolved products as well as services. The hiring will be done from senior to middle level positions and across multiple domains such as AI, Product, ECO and Droom Credit. It is looking to hire its owned and operated fleet of ECO Technicians named ECO Ninjas. They will provide vehicle inspection services at door step. Droom aims to reach 1000+ inspections per da...

Tinder Fires Comms Head & other Employees who Sued the Company

19Dec By Gauri SinghNo Comments

News

Tinder Fires Comms Head & other Employees who Sued the Company

The popular dating app Tinder has reportedly fired its vice president of marketing and communications Rosette Pambakian, as well as other employees who sued Tinder’s parent company Match Group and its controlling shareholder IAC. A Match Group spokesperson confirmed that a number of Tinder employees have been terminated, though they did not identify them or say how many were involved. With this, the lawsuit was filed by Tinder co-founders Sean Rad, Justin Mateen and Jonathan Badeen and other executives. Some, like Rad, had already left Tinder, while others like Pambakian and Badeen, were still employed at the time. In the suit, the group alleged that IAC and Match Group had manipulated financial data in order to lower the company’s valuation. They also alleged that Greg Blatt, ...

Infosys Doubles Salary of Employees, Helps them Upskill

27Nov By Gauri SinghNo Comments

BUSINESS

Infosys Doubles Salary of Employees, Helps them Upskill

Infosys is doubling pay packages for employees who successfully complete its new bridge programmes. These are programmes that help staff to shift from their existing job to one that demands higher skills. The company expects this initiative will also reduce attrition at junior levels — the rate has been high in recent times at over 20% — and give young employees more growth options. Indian IT firms, including TCS and Wipro, are coming up with novel methods to skill employees in fields like consulting, automation, artificial intelligence, and machine learning, and to make them stay for longer durations. The programme, aimed to move employees to the consulting side of the business, includes a test and a three-month curriculum. Post that, the employee has to spend six months internin...

Jabong to Lay Off Another 200 People in Three Months

19Nov By Gauri SinghNo Comments

News

Jabong to Lay Off Another 200 People in Three Months

The Myntra Jabong merger has been a setback to its employees as this led to the lay off of so many workers. And now, Myntra could sack another 200 staff at Jabong in the next three months after deciding to lay off around 250 employees. Myntra’s chief executive Ananth Narayanan stated that about 250 jobs will be lost as Myntra and Jabong are combining functions from finance, technology, marketing and creative teams among others departments. Also, a source mentioned that Jabong employs around 600 people. “Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams,” a Myntra spokesperson said in a statement. “To remain the leader in fashion e-commerce in India, we have to find ways to operate mor...

Amazon to Increase Minimum Wages of US Employees to $15

3Oct By Gauri SinghNo Comments

USA

Amazon to Increase Minimum Wages of US Employees to $15

Amazon has announced that the company is reportedly raising the minimum wage for all its United States employees to $15 which will be effective from next month. The raise is applicable for part-time workers and those hired through temporary agencies. The company mentioned that it would also persuade Washington to raise the federal minimum wage which has been around $7.25 for almost a decade. The rise in the wages will apply to more than 250,000 Amazon employees, including those at the grocery chain Whole Foods. Also, it will apply to more than 100,000 seasonal employees that the company plans to appoint for the holiday season. However, the change in wages will not apply to contract workers. “We listened to our critics, thought hard about what we wanted to do, and decided we want to ...

Infosys Ties Up with Cornell University to Train Employees

3Oct By Gauri SinghNo Comments

BUSINESS

Infosys Ties Up with Cornell University to Train Employees

The IT giant Infosys has announced a three-year partnership with Cornell University for the purpose of training employees in emerging technologies such as blockchain, machine learning and human-computer interaction. Following the collaboration, at least 3000 Infosys employees globally are expected to participate in the joint certification programme. The other employees will participate course-by-course. “The Cornell University brand is synonymous with technology and talent, so we found a natural synergy between our organizations to improve workforce education,” said Tan Moorthy, executive vice president and Global Head of Education Training and Assessments. This particular programme which will jointly be operated by Infosys and Cornell University will also impart skills in data analytics...

Tech Mahindra Reduces its Retirement Age to 55 Years

2Oct By Gauri SinghNo Comments

News

Tech Mahindra Reduces its Retirement Age to 55 Years

The popular IT company Tech Mahindra has reduced the retirement age from 58 to 55 years. Generally, corporate and government retirement ages go up but in the rapidly changing IT industry, it’s beginning to go down. This move by the company indicates that they don’t want to be stuck with older employees who may be reluctant to change. The policy applies only to employees in what it calls the ‘U’ band — those with under seven years of experience. The policy has no impact for now, and its senior employees will not be hit. “At the end of the day, business-and-skill mix required has changed dramatically. Companies have engaged their employees in long learning cycles — in some cases, at their own expense. Firms have little control and are driven by clients’ demand and are actively changing...

Tech In Asia Lays Off Employees After Scrapping Planned ICO

28Sep By Gauri SinghNo Comments

News

Tech In Asia Lays Off Employees After Scrapping Planned ICO

Singapore-based media startup Tech In Asia lately announced an $18 per month paywall and the subscription went live this week. This was built to make the business self-sustaining after a tricky period of business in which the company observed an ICO and was forced to lay off its staff. The company made cutbacks of s many as one-third of its team after it went back on a plan to raise money from an ICO. It was in July that the company canceled its ICO plans and fired 18 of its 60 employees in Singapore. “Our goal is to give Tech In Asia back into the hands of the community and harness community forces to bring us closer to our mission of building and serving Asia’s tech communities,” the company stated. Most of the layoffs were in non-editorial business lines such as the company’s jobs ...

Hotel Chain Treebo Lays Off 70-80 Employees

23Jul By AnkitaNo Comments

News

Hotel Chain Treebo Lays Off 70-80 Employees

Hospitality company Treebo has laid off between 70-80 workers, or about 10% of its 800- strong workforce. Currently, It consists of 800 people working under its brand. These layoffs are in line with the company's efforts to double down on its technology products and processes even as it looks to rationalise prices. Treebo Hotels is India's third largest hotel chain which operates in the budget segment of the hospitality industry. It operates on a franchise model and emphasizes quality control along with 10,000 rooms and 400 hotels in over 85 cities operating exclusively under its brand, it also competes with FabHotels and Oyo Rooms. As the company’s spokesperson said, "This, in turn, has allowed us to now take a critical look at our payroll and other costs, and rationalise them in line...

After Raising $200 Mn, PoilcyBazaar Will Hire 2,500 New Employees

3Jul By Gauri SinghNo Comments

News

After Raising $200 Mn, PoilcyBazaar Will Hire 2,500 New Employees

PolicyBazaar.com has announced that it will employ more people in the current financial year. The number of jobs that the company intends to create will be around 2,500 which will take the total count of the employees to 6,000. The purpose of the company behind this move is to increase the customer base and expand the revenues. The company that was backed by SoftBank Fund will add positions in various areas including customer support and tech functions. "...the company announced that it will create 2,500 more jobs in FY'19, taking its employee strength to 6,000 people. Growing 100 percent year-on-year, PolicyBazaar.com is aiming to underwrite premium worth Rs 10,000 crore, expand its unique customer base to one crore and increase its revenue to Rs 1,500 crore by 2020," the company said...

These Flipkart Employees Become Instant Millionaire After Walmart Deal

10May By Sheldan RungasamyNo Comments

News

These Flipkart Employees Become Instant Millionaire After Walmart Deal

While most Indians reacted with contempt to the news of the acquisition deal of Bengaluru-based Flipkart by Arkansas-based retail giant Walmart, many Flipkart employees must be in the seventh of heavens right now. Indeed, after the $16 billion acquisition for 77% stake, several employees are set to become millionaires from the deal as large payouts in the form of Employee Stock Option Plan (ESOP) since the company’s valuation raised from $15 billion to $20 billion. Speaking before the acquisition deal was confirmed, a Flipkart employee said, If this deal materializes, it will give a strong value to the concept of ESOPs, something that other startups may like to emulate. They will have the hope that even their companies will have an IPO or get big investors and give them a chance to ...