SALES EMPLOYEE
Longer Diwali breaks: companies give employees more time to celebrate
Many companies are providing extended breaks for their employees during Diwali to promote well-being and family connections. Embassy Group is giving its employees a nine-day break, emphasizing a people-first culture. CashKaro is offering six days off to help employees recharge after the busy festive season. Myntra plans to recognize employee contributions with two additional holiday days following its sales period.
Gurgaon offices calling more than half of staff to office, violating 50% WFH rule, will be issued show-cause notices; employees can complain on 112
Gurgaon administration has opened two helplines, including 112, for residents to report companies violating the 50% work-from-home requirement. Anonymous complaints will trigger inspections. The move follows show-cause notices to law firms Trilegal and JSA after inspections found more than 60% of their employees working from office.
USDA to launch AI tool to check crop production data after errors
After the USDA discovered errors in its corn data from September, officials determined the AI tool would have flagged the problem and decided to use it on the crop production report due on November 10, USDA Under Secretary Scott Hutchins said in an interview.
Scripbox shareholders approve conversion into public company ahead of IPO
At an extraordinary general meeting on October 19, shareholders approved the change of the Accel-backed startup's name from Scripbox Wealth Managers Private Limited to Scripbox Wealth Managers Limited, along with amendments to its constitutional documents, according to regulatory filings reviewed by ET.
Amagi, Shiprocket post profits; US polls’ impact on IT
Amagi’s Q2 profit surged nearly 30x while Shiprocket swung into the black for the first time. This and more in today’s ETtech Top 5.
After taking voluntary buyout offer in Google and returning laptop, she ran 7 miles home. Her 2027 prediction and unusual career journey is intriguing
Former Google employee Kristin Furdak Smart, after a fulfilling decade with the company, opted for a voluntary exit program. Joining in 2007 and returning in 2017, she played a key role in numerous employee training initiatives. Celebrating her departure with an energetic seven-mile run home, she whimsically hinted at a potential comeback in 2027, showcasing her playful spirit and dedication to an active lifestyle.
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Google voluntary buyouts: What's the exit package, which teams qualify and how many employees are eligible after Microsoft's similar offer?
Google Voluntary Exit Programme Details: Google has expanded its voluntary buyout programme to selected employees in five countries. The offer comes as Microsoft rolls out a similar voluntary exit scheme covering around 60,000 employees. Here's a look at Google's severance package, eligible teams and the number of employees who could opt for the offer.
Lenskart, Nykaa, PhysicsWallah see Q2 profits surge
New-age companies Nykaa, Lenskart, and PhysicsWallah reported strong numbers for the September quarter. This and more in today’s ETtech Top 5.
Lenskart outlines roadmap for 25% Ebitda margin, says growth will take priority
In its shareholders' letter for the July-September quarter, the company said its strategy centred on controlling the entire value chain, from manufacturing frames and lenses to selling products directly to consumers, allowing it to retain margins otherwise distributed among suppliers and retailers.
Lenskart Q2 net profit more than doubles to Rs 232 crore, revenue rises 36%
The company’s net profit rose 125% to Rs 232 crore, compared with Rs 103.45 crore in the year-ago period. Profit before tax more than doubled to Rs 304.48 crore from Rs 148 crore a year earlier. The company's total expenses increased 31.1% — slower than its revenue growth — to Rs 2,596.8 crore, helping drive the improvement in profitability.
M.K. Sons Fine Jewels shares list at 6% premium over IPO price
M.K. Sons Fine Jewels made its stock market debut at a 6% premium over its IPO price. The company raised Rs 275.40 crore through its initial public offering, which saw high investor interest. Shares opened at Rs 171 compared to the issue price of Rs 162, indicating strong demand. The company's financial performance showed significant growth, with income rising to Rs 539 crore in FY26.
Canva to cut about 22% of staff as growth slowdown triggers restructuring
Australian graphic design platform Canva Group said on Wednesday it would cut 1,271 jobs, or about 22% of its workforce, as part of a restructuring after growth slowed for the first time in a decade.
Freshworks crosses $1 billion ARR as enterprise push lifts growth
Revenue for the July-September quarter rose to $245.4 million from $215.1 million a year earlier. Net profit stood at $18.3 million, compared with a loss of $4.7 million in the year-ago period. Its non-GAAP operating margin expanded to 29.8% from 21% a year earlier, while adjusted free cash flow increased 29% to $73.9 million.
Irdai mandates four-tier structure for motor insurance from Dec 15
Irdai will implement a four-tier structure for motor insurance covering private cars and two-wheelers. Customers will have the option to select separate covers, including mandatory third-party liability and optional personal accident cover. Existing policyholders can add occupant liability coverage without canceling their current policies.
Tata Motors-Iveco will focus on building a global CV business: N Chandrasekaran
Tata Motors announced its acquisition of Iveco Group to enhance its global commercial vehicle operations. The $4.32 billion deal aims to improve growth and diversification rather than consolidation. This merger combines their strengths across different markets and technologies to increase revenue and sales volume. Both companies will collaborate on electric vehicles and components, leveraging Tata's extensive distribution network.
IDBI Bank Strike: What's on November 10? Nationwide bank strike, wider protests on the table; here's what you need to know
IDBI Bank Strike: A two-day nationwide strike by IDBI Bank employees and officers against the proposed sale of a majority stake to Canada's Fairfax Financial Holdings ended on Tuesday. The union will decide its next course of action at a meeting on November 10 and may seek support from other bank unions for a nationwide protest. Meanwhile, the Congress has also raised concerns over the proposed Rs 53,000 crore deal.
EPFO WhatsApp Service: How to check PF balance, view transaction history and download passbook easily; here's how
The Employees' Provident Fund Organisation (EPFO) has introduced a convenient WhatsApp service to enhance member access to their provident fund details. This innovation enables users to effortlessly check their EPF balance and examine transaction histories. Additionally, members can obtain their passbook directly via WhatsApp following a verification step. Launched by Union Labour and Employment Minister Mansukh Mandaviya, this initiative aims to simplify service access for all members.
Why is Microsoft borrowing $25 billion after offering buyouts to 60,000 employees?
Microsoft 25 billion bond sale: Microsoft is raising $25 billion through a bond sale as AI infrastructure costs rise, days after offering voluntary buyouts to nearly 60,000 employees. The company expects up to 3,000 employees to accept the exit offer as it prepares to spend $175 billion on capital expenditure in 2026.
Rs 2 crore revenue in 10 months: How Bengaluru couple bounced back from a Rs 4 lakh loss to build a successful food truck business
Bengaluru couple Kushal Reddy and Chahak Jain started a food business after initially suffering a Rs 4 lakh financial setback with their cloud kitchen. They converted a truck into a mobile kitchen selling juicy burgers. This creative pivot not only sparked public interest but also led to the rapid success of their food truck, Kried, which amassed Rs 2 crore in revenue in just 10 months.
Forget festive hampers, companies are trading gift boxes for holiday getaways
Companies are shifting towards offering travel vouchers as a preferred gifting option for employees. This change allows for more personalised experiences with loved ones during holidays. Many firms are also providing flexibility in travel options, catering to individual preferences and interests.
Black Friday 2026: Walmart sale dates, early deals, Walmart+ benefits and store timings
Walmart is gearing up for its much-anticipated Black Friday 2026 event, featuring a slew of promotional sales starting in November through early December. Expect sweeping discounts on electronics, toys, and home appliances. Walmart+ members will enjoy exclusive early access to select deals that kick off on November 12. The store will officially reopen at 6 a.m. on Black Friday, November 27, after a closure on Thanksgiving.
IDBI Bank employees' forum opposes Fairfax stake sale, seeks parliamentary review
The United Forum of IDBI Officers and Employees has opposed the planned sale of IDBI Bank's majority stake. They have requested an immediate suspension of the sale process due to market volatility. The forum argues that the decision lacks adequate justification and transparency. They are calling for a comprehensive review under parliamentary scrutiny, emphasizing the need for caution.
"What's the hurry?": BRS questions IDBI Bank valuation, seeks answers from Centre over proposed sale
K T Rama Rao raised concerns regarding the proposed sale of IDBI Bank to Fairfax Financial Holdings. He highlighted potential undervaluation and transparency issues in the bidding process. Rao questioned the assessment of the bank's prime real estate assets in Hyderabad. Concerns from IDBI Bank employees about the sale have reportedly not been addressed by the Union Government.
Odoo 20 strengthens business operations with deeper India-specific compliance features
Odoo 20 has launched several updates designed specifically for Indian businesses. These updates focus on enhancing GST compliance, payroll processing, and accounting workflows to meet local demands. The integration of AI facilitates improved data handling and analysis in everyday operations, ultimately boosting productivity.
Sitharaman says NDA revived IDBI Bank after UPA-era bad loan crisis
In response to Rahul Gandhi's opposition to IDBI Bank's privatisation, Nirmala Sitharaman stressed the successful recovery of the bank thanks to the NDA government's strategies. She pointed to the previous UPA government's fiscal mismanagement, which caused notable losses. Sitharaman also discussed the reviewed valuation process for the stake sale, criticising Gandhi for his attempts to politicize banking matters and the undue stress placed on bank staff during earlier administrations.
India's ESOP tax rules need reform to ease employee burden
India’s ESOP tax rules impose tax on unrealised gains before employees receive cash, creating liquidity pressures. Reforming taxation through deferrals or concessional rates could encourage employee ownership and ease the burden.
‘IDBI Bank was handed over to us in poor shape’: Sitharaman hits back at Rahul Gandhi amid sale row
Nirmala Sitharaman responded to criticisms regarding the sale of IDBI Bank's majority stake. The bank was previously in poor condition and has since been revived. She stated that prudent management and recapitalization led to its current profitability. Rahul Gandhi has expressed concerns over job security and the impact of privatization on employees. The government approved Fairfax as the strategic buyer for 60.72% of the bank's shares.
“During Congress’s time, banks were created; in Modi era, they are being sold”: Rahul Gandhi targets govt over IDBI Bank sale
Rahul Gandhi has criticised the Centre's proposed sale of a 60.72% stake in IDBI Bank, questioning the privatisation of a profitable public sector lender. Backing the bank's employees, he flagged concerns over reservation provisions, service conditions and pension benefits as the government defended the disinvestment bidding process.
Amazon cloud business accelerates but shares drop on profit miss
Amazon experienced a notable decline of over seven percent in its shares following the release of its quarterly earnings, which failed to meet analyst forecasts. The tech giant reported a total revenue of $201.9 billion, revealing struggles across multiple sectors. Nonetheless, the growth of its AWS cloud division stood out as a silver lining.
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