1.
Salary
woes lead to strike by 1,600 at AMU
Last
month’s salary has not been paid to 1,600 non-teaching staff of Aligarh Muslim
University. With about 1,600 non-teaching staff from Aligarh Muslim
University going on strike, administrative work was adversely affected at the
University. The protesting staff members have reportedly not received
their salary for the last month. The strike has entered its third day
now. A majority of the protestors are temporary workers and daily
wagers, some of whom have been working at the University for over ten years.
They assembled outside
the office of
the Vice Chancellor of AMU to draw attention to their plight. Security
has been tightened around the campus in lieu of the ongoing protests, even as
officials are trying to resolve the matter. Meanwhile, down South, many
secondary grade teachers (SGTs) from across Tamil Nadu have been on an
indefinite hunger strike for over four days. Some of the protesting
teachers have had to be hospitalised. They are seeking ‘equal pay for
equal work.’ They want that all SGTs appointed before and after 31 May, 2009 be
paid equally.
2.
TPEML will complete
Sanand plant deal in Jan 2023
Tata
Passenger Electric Mobility will take control of Ford’s buildings, land, and
vehicle manufacturing plant and transfer the eligible employees. Tata
Passenger Electric Mobility Limited (TPEML) announced on December 30, 2022,
that the Sanand plant deal would be completed on January 10, 2023. TPEML
is a subsidiary of Tata Motors and Ford India. In August 2022, the company
signed a unit transfer Along with this purchase, Tata Motors will also take
control over the land, buildings, and vehicle manufacturing plant,
including equipment and machinery. It will also transfer eligible
Ford employees stationed at the vehicle manufacturing operations in Sanand,
Gujarat, for a total of over Rs 700 crore. In the Indian auto industry
market, which is dominated by Maruti and Hyundai, Ford has spent years trying
to be more profitable.
3.
Another
round of job cuts at Goldman Sachs?
Reportedly,
the company might be planning to reduce the workforce by 8% or 4,000 jobs.
As per a Bloomberg report, Goldman Sachs is planning a new lay off, while
entering the New Year. The decision will affect nearly 4,000 roles at the global
investment bank giant. Recently, the bank laid off hundreds of people as per
its new performance grading system. Reportedly, the possible reason for
the redundancies is to contain a slump in profit and revenue as the bank is
also considering a significant cut in the annual bonus pool this year.
The bank also warned in July that it might slow down hiring and cut expenses to
tackle the worsening economic outlook. Furthermore, the bank has also
hinted that it may dial back its plans for October for Marcus, the consumer
subsidiary that is losing money. According to prior reports, Goldman
also intends to discontinue issuing unsecured consumer loans. “We are
conducting a careful review and while discussions are still ongoing, we
anticipate our headcount reduction will take place in the first half January.
There are a variety of factors impacting the business landscape, hence we need
to proceed with caution and manage our resources wisely,” Solomon said
in a message, according to the report.
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