Latest news with #RatanTata
India.com
3 hours ago
- Business
- India.com
Bad news for TCS employees! Ratan Tata's company issues another strict rule, defaulters to face action; it is about..., these people to be hit hardest
Bad news for TCS employees! Ratan Tata's company issues another strict rule, defaulters to face action; it is about..., these people to be hit hardest Tata Consultancy Services (TCS), one of India's largest IT firms, is experiencing criticism on several fronts. From its newly enforced bench policy that has sparked panic among employees, to the indefinite delay in onboarding over 600 lateral hires, the company is facing intense scrutiny. Compounding the fury, IT employee union NITES has sent a letter to the Ministry of Labour and Employment requesting government support and intervention in the ongoing issues affecting professionals from TCS. What is the new strict rule introduced by TCS? Now, another report has come out, indicating that the IT firm has issued an instant five-day return-to-work requirement for its employees in the United States. Employees must comply with the directive. Furthermore, IT giant has even warned that staff will be monitored and called out if they don't comply, reported The Register. Who will be affected by this immediate office return order? A TCS employee based in the US told The Register that they had received an internal email from HR requiring a full return to office 'to enrich our workplace experience, effective immediately.' The email directed all employees, except those working on client sites or previously approved for remote work, to return to the office. In their 2023 press release, TCS had over 45,000 employees working across US-based companies, making the sudden policy shift significant in scale and impact. 'We can confirm that as a part of our ongoing plan to return to office globally, our US operations have also resumed full week working from the office, like many other regions,' TCS told us, reported The Register. Who are the employees most affected by this policy? The worker, who asked to remain anonymous, also stated that speculation is loaded in TCS's offices in North America, with internal chatter indicating that job cuts could be as high as 30 per cent. As to these claims, a spokesperson from TCS commented, 'While we don't comment on rumors and speculation, we can confirm we have not announced any layoffs in the US,' reported The Register. In a letter, NITES has called on the Ministry of Labour and Employment to intervene and ensure that TCS provides a clear timeline for bringing on board the impacted lateral hires. The employee group also sought compensation for the delay and asked TCS to consider alternative appropriate roles in the company for the impacted professionals.
India.com
a day ago
- Business
- India.com
Good news for employees of THESE companies as they emerge as India's top..., Ratan Tata's company lead as..., Mukesh Ambani's Reliance at...
Good news for employees of THESE companies as they emerge as India's top..., Ratan Tata's company lead as..., Mukesh Ambani's Reliance at... According to the Randstad Employer Brand Research 2025 (REBR 2025) report released on Tuesday, Tata Group, Google India, and Infosys are among the top 10 most attractive companies to work for in India. Tata Group got top marks for its strong financial position, career growth opportunities, and overall reputation. Google India moved up the list this year to become the second most attractive employer, while Infosys secured the third spot. The State Bank of India (SBI) is the only public sector bank to make it into the top 10. Other companies that made the list include Samsung India, JPMorgan Chase, IBM, Wipro, Reliance Industries, and Dell Technologies. Top 10 most attractive employer brands in India for 2025 Tata Group Google India Infosys Samsung India JPMorganChase IBM Wipro Reliance Industries Dell Technologies Ltd State Bank of India Employees look for work-life balance and more than just a good salary Employees in India highly value their companies' reputation, financial strength, and fair treatment. However, when asked what they look for in an ideal workplace, most people said that work-life balance and good salary with benefits are still lacking and need more attention from employers. Randstad has been studying what job seekers and employees want for the past 25 years globally, and 15 years in India. This year, the report gathered opinions from over 3,500 people in India and more than 1.7 lakh people in 34 countries. The study shows that today's workforce wants more than just a good salary. People are now looking for inclusive, future-ready workplaces that support both their personal and career growth. According to the report, 47 per cent of Indian employees are planning to change jobs in the first half of 2025. This trend is even stronger among Gen Z (51 per cent) and Millennials (50 per cent), who are more eager to explore new opportunities. While 86 per cent of workers in India feel highly motivated, only 5 per cent say they are not engaged at work. Interestingly, even among those who feel disconnected, 67 per cent still plan to switch jobs, showing a strong desire for better work experiences. The study also found that 61 per cent of Indian employees now use AI tools regularly, with Millennials leading the way. Their usage increased by 13 per cent compared to last year. 38 per cent of employees believe that AI is already making a big impact on their work. Reskilling and upskilling have become a top priority, especially for those with higher education. In fact, 9 out of 10 employees say they value employers who offer training and learning opportunities to help them grow.
India.com
2 days ago
- Business
- India.com
Month after plane crash, Air India seeks Rs 17277890000 from…, Ratan Tata company decides to…
Month after plane crash, Air India seeks Rs 17277890000 from…, Ratan Tata company decides to… After Air India flight AI 171, operated with Boeing 787-8 crashed after takeoff on June 12, the airline is going to buy another fleet of Boeing. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Air India is in talks to secure a $200 million bank loan through its GIFT City-based subsidiary, AI Fleet Services IFSC Ltd., to purchase a fleet of Boeing 777 aircraft from a US-based leasing company, according to an Economic Times report. Air India To Buy Boeing 777 After persistent supply chain challenges and delivery delays, Air India wants to improve its wide-body fleet, particularly for long-haul India-US routes. The loan will help Air India reduce the capacity gap until its new aircraft orders begin arriving. Advertisement === Media reports citing sources revealed that discussions around the funding, which began earlier this year, had temporarily slowed after the crash of an Air India Boeing 787 Dreamliner in Ahmedabad last month, but talks have again resumed. The terms of the loan are still being finalized and could be linked to the Secured Overnight Financing Rate (SOFR). Air India is already operating the six Boeing 777 aircraft and now wants to purchase, some of which are 11 to 13 years old, as per data from Flightradar24. These aircraft play a critical role in maintaining service on high-demand transcontinental routes. Advertisement === Air India's Earlier Orders For Boeing Since the Tata Group acquired the airline in January 2022, Air India has placed orders for 570 new aircraft from Airbus and Boeing. To speedup fleet expansion, the airline is also considering acquiring 50 Boeing 737 Max jets that were originally intended for Chinese carriers. Through its GIFT City-registered entity, Air India handles aircraft purchases and leases for both its full-service operations under the Air India brand and budget carrier Air India Express. The proposed loan will support the group's broader goal of scaling up operations and improving global connectivity.
India.com
2 days ago
- Business
- India.com
Months after Ratan Tata's death, Tata's branded jewellery maker Titan decides to pay Rs 2,439 crore to acquire...
Ratan Tata- File image In a significant development months after the death of late billionaire Ratan Tata, Tata Group's jewellery maker Titan is expected to acquire a majority 67 per cent stake in UAE-based Damas Jewellery. In an all-cash deal, the country's leading branded jewellery maker signed the deal aiming at expanding business in GCC countries. As per a report by news agency PTI, Titan's wholly-owned subsidiary Titan Holdings International FZCO on Monday signed a definitive agreement with Mannai Corporation for the purchase of its 67 per cent shareholding in Damas LLC (UAE), the current holding company for Damas jewellery business in GCC countries. 'The consideration for the proposed transaction is arrived on the basis of the enterprise value of AED 1,038 million (nearly Rs 2,438.56 crore),' said a joint statement. What should you know about Damas Jewellery? Founded in 1907, Damas Jewellery has a network presence of 146 stores across six GCC countries. It had a revenue of AED 1,461 million (around Rs 3,450.2 crore) in FY'24. 'The purpose of acquisition is to acquire the entire jewellery business, including the brand 'Damas' held by Mannai Corporation in GCC countries through Damas LLC (UAE),' it said. Why Titan is acquiring stake in Damas Jewellery? Titan expects the proposed transaction to be completed before January 31, 2026, subject to regulatory clearances. 'As per the Proposed Transaction, Titan Holdings will acquire 67 per cent shareholding subject to conditions precedent specified in the Definitive Agreement and relevant regulatory approvals, as may be required, in the applicable jurisdictions,' it said. This deal is 'strategically significant' for Titan's jewellery business as it will facilitate the expansion across the six GCC countries – UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain, said Titan. However, after four years, by the end of 2029, Mannai shall have the right to sell and Titan Holdings shall have the right to acquire the balance 33 per cent shareholding in the holding company, subject to conditions agreed upon.' (With inputs from agencies)
India.com
2 days ago
- Business
- India.com
Massive win for Sunil Bharti Mittal as Airtel beats Ratan Tata's TCS in..., Airtel is now India's...
Ratan Tata and Sunil Mittal New Delhi: In a significant development, Indian billionaire Sunil Mittal has shown tremendous growth in the recent week. Overtaking Tata Consultancy Services (TCS) to become India's third-largest company by market capitalisation, the Bharti Airtel founder has become India's third-largest company by market capitalisation. Here are all the details you need to know about the recent development for Sunil Bharti Mittal's Airtel and how it has overtaken Ratan Tata's TCS. How Bharti Airtel overtook TCS? In the recent development, the shares of Airtel rose by 0.333 per cent on Monday, which led to increase in its market value to Rs 11.44 lakh crore, around Rs 2,000 crore more than TCS. Mukesh Ambani's Reliance Industries takes massive hit As per a report by news agency PTI, the combined market valuation of 6 of the top-10 most valued firms declined by Rs 94,433.12 crore last week, with Tata Consultancy Services and Reliance Industries taking the biggest hit, in line with a bearish trend in equities. Last week, the BSE benchmark tumbled 742.74 points or 0.90 per cent. The PTI report also added that While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Infosys and Hindustan Unilever suffered erosion from their market valuation last week, ICICI Bank, State Bank of India, Bajaj Finance and Life Insurance Corporation of India (LIC) emerged as gainers. In a significant shock for Ratan Tata's TCS, the valuation of TCS tumbled Rs 27,334.65 crore to Rs 11,54,115.65 crore, the most among the top-10 firms. How have HDFC Bank, Hindustan Unilever performed? Reliance Industries suffered an erosion of Rs 24,358.45 crore to Rs 19,98,543.22 crore from its valuation. The market capitalisation (mcap) of HDFC Bank tanked Rs 20,051.59 crore to Rs 15,00,917.42 crore. Bharti Airtel's mcap dropped by Rs 11,888.89 crore to Rs 10,83,998.73 crore, and that of Hindustan Unilever declined by Rs 7,330.72 crore to Rs 5,84,789.77 crore.
