HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.
As the coronavirus pandemic affects business revenues and future plans due to uncertainty of the economic environment, organizations have started to give their employees salary cuts to conserve cash during the crisis. Joining the likes of many other companies, Tata Sons have also decided to move ahead with salary cuts for its top brass. For…
India’s third largest two-wheeler manufacturing company, TVS Motor Company recently announced that it has decided to cut employees salaries for a six month period due to the decline in revenue amid the coronavirus lockdown. The company’s Chief Executive Officer KN Radhakrishnan communicated the decision to employees on May 23. With the recent announcement, TVS becomes…
Layoffs at new-age startups are becoming more and more common during the coronavirus pandemic. As company’s struggle to keep business floating during this unprecedented crisis, layoffs have become a common tool to conserve cash. Joining the likes of many others, used car marketplace CarDekho has recently laid off over 200 employees. According to an Entrackr…
IT services giant Cognizant recently announced that its Chief Operating Officer Srinivasan Veeraraghavachary has decided to step down from his position. His resignation adds to the list of senior executives who left the company under new Chief Executive Officer Brian Humprhries’ leadership. Srinivasan has been associated with the American IT firm for over two decades.…
Food-delivery unicorn Zomato recently announced that it has elevated its Chief Executive Officer of Delivery as the company’s Co-Founder. His elevation was done through the company’s Founders Program. Announcing the elevation of Mohit Gupta, main founder Deepinder Goyal said that Gupta had managed to tick all the boxes as a part of Zomato’s founders programme…
Stanza Living, a shared living company offering dedicated solutions for students and working professionals across 10+ cities in India, announced that it will be investing Rs 400 crore over the next two years, according to a YourStory report. The investment will be aimed at expanding its rental accommodation business. The company is backed by marquee…
Satya MicroCapital Ltd, a New Delhi-based micro-lending company, announced it has raised Rs 105 crore in equity funding by Gojo & Company, Inc. This is one of the first investments in the microfinance sector after the nationwide lockdown. The company will utilise the recent capital infusion in a diversified manner for employment generation and livelihood…
Tata Sons announced that it has signed an MoU with CSIR for development of indigenous scientific invention FELUDA for Covid-19 testing in the country. The kit has been designed for mitigating the ongoing Covid-19 situation and cater to mass testing. The company said that the main advantages of FELUDA are its affordability, relative ease of…
Euler Motors Pvt. Ltd, a New Delhi-based automotive tech startup, announced that it has raised Rs 12.5 crore in its Series A round of funding led by an early-stage investor Inventus Capital Partners, according to a VCCircle report. Other investors that took part in the funding round include Jetty Ventures and Sujeet Kumar, co-founder of…
Zaggle, a Mumbai-based fintech company offering digitized solutions for expense management, employee tax benefits, rewards & recognition programs and corporate gifting and incentives, announced it has partnered with payments technology major Visa to launch innovative payment solutions for SMEs and startups. Under this partnership, both the companies will jointly create solutions for small and medium…
Bounce, one of India’s largest shared mobility players, announced that it has resumed its operations in Bengaluru and Hyderabad. In addition to its dockless scooter sharing model, Bounce has introduced flexible long-term rental plan and a subscription based model, Bounce – A (AtmaNirbhar) to ease commute within cities during the lockdown 4.0. The company said…
Visa, the global leader in digital payments technology, announced that it has appointed Sujatha V Kumar as Head of Marketing for India and South Asia. In her new role, Sujatha will be driving overall marketing strategy and execution including consumer, retail and digital marketing initiatives for India and the emerging markets of Sri Lanka, Bangladesh,…
Kolkata-based multinational conglomerate company, ITC Limited recently announced that it is set to acquire spice maker Sunrise Foods Pvt Ltd in a Share Purchase Agreement (SPA). The move is expected to help the company strengthen its position in India’s fast-moving consumer goods (FMCG) market. According to an official press release, ITC entered into a share…
Soon after an employee at Maruti Suzuki India’s Manesar plant tested positive for the coronavirus, three employees at Hyundai Motors’ Chennai plant have also tested positive for the virus. The recent development of positive coronavirus cases in workers at two of India’s biggest carmakers comes just days after restarting operations, exposing the risks companies and…
Jahnabi Phookan has been appointed as National President of FICCI Ladies Organization (FLO). She took over from outgoing National President Harjinder Kaur Talwar at the 36th FLO ANNUAL SESSION- Rising Above Covid Challenges. Jahnabi is the 37th National President of FICCI FLO. In her role as the National President, she will focus on empowering women…