What employees are exempt from overtime pay

Razorpay plans to raise its workforce to 5,200 by December and fill the remaining 200 positions in a year’s time from now Bengaluru-based digital payments platform PhonePe plans to double its employee strength by the end of December as it taps a boom in online transactions, the company said on April 5. The company , the market leader in transactions on the Unified Payments Interface (UPI), has 2,600 employees and 2,800 open job positions across cities such as Bengaluru, Pune, Mumbai, and Delhi it is seeking to fill. It plans to raise its workforce to 5,200 by December and fill the remaining 200 positions in a year’s time from now. PhonePe, owned by Flipkart and Walmart, plans to hire employees across engineering, products, analytics, business development, and sales. Also Read: PhonePe Pulse Q4 2021 Report: Maharashtra crosses 1 billion transactions, merchants drive highest payments Close “We are building a long-term sustainable organisation, anchored on … [Read more...] about PhonePe to double employee count by December

State Bank Of India As the world debates the pros and cons of adopting a four-day workweek, hundreds of thousands of bank employees in India are demanding a five-day system. At least nine unions of bank employees will go on a day’s strike on June 27 to press their demand. They want time off every Saturday and Sunday, saying the technology at the disposal of banks would allow a smooth transitioning to a five-day workweek. “We have been talking to all stakeholders for the last seven years. But things have not moved as desired. A five-day work week is a basic demand from us and it’s for the betterment of health, and work-life balance of bank employees,” C.H. Venkatachalam, general secretary of the All Indian Bank Employees Association (AIBEA), told Moneycontrol. “Nearly 900,000 bank employees will shun work and protest on 27 June to drive this message and a few other demand points,” Venkatachalam  said. Bank employees in India are still working six days a week when other … [Read more...] about Forget a four-day workweek, bank employees in India want a five-day week​

Mustapa says the government is always serious about the rising cost of doing business due to bureaucracy and the impact of the shortage of foreign workers on the economy as often raised by industry. (Photo by Mohd Suhaimi Mohamed Yusuf/The Edge) - A + A TUMPAT (June 25): The government will pay attention to four proposals submitted in writing by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) before tabling Budget 2023 in October. Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed said the four proposals are related to the issue of hiring foreign workers, inflation control, Internet access problems and issues related to food security. “The government welcomes participation and commitment from the private sector and the business community as demonstrated by the ACCCIM to jointly find solutions to the challenges faced in doing business, especially in the context of the country’s post-Covid-19 economic … [Read more...] about Govt to pay attention to four ACCCIM proposals for Budget 2023, says Mustapa

The CEO of Dick’s Sporting Goods said the company would reimburse employees for abortion-related travel in a statement posted Friday to LinkedIn. Lauren Hobart, the CEO of Dick’s Sporting Goods, shared that the company would reimburse employees up to $4,000 for abortion-related travel in light of the Supreme Court’s decision to overturn Roe v. Wade. In addition, the proposition would extend not only to Dick’s employees, but also their spouses and dependents, according to her statement. “In response to today’s ruling, we are announcing that if a state one of our teammates lives in restricts access to abortion, DICK’S Sporting Goods will provide up to $4,000 in travel expense reimbursement to travel to the nearest location where that care is legally available. This benefit will be provided to any teammate, spouse or dependent enrolled in our medical plan, along with one support person,” Hobart’s statement read, in part. (RELATED: Biden Decries Supreme Court’s Decision … [Read more...] about CEO Of Dick’s Sporting Goods Says Company Will Reimburse Employees For Abortion-Related Travel Following Roe Reversal

HARARE, June 25 (Xinhua) -- Zimbabwean government health workers on Saturday called off their one-week strike over better pay, citing the need to prevent further unnecessary loss of life. "The leaders of the Health Associations after considering the plight of the public, have resolved to temporarily adjourn the industrial action and request the healthcare workers to resume service. This has been done to prevent any further loss of life," the Zimbabwe Health Apex Council said in a statement. The Council said it hoped the government will address their grievances within 14 days, failure of which the employees will go on industrial action without notice. "We have taken this decision in good faith, that the employer will engage with us. We believe that the 'ball' is now in the employer's court," the Council added. The government health workers - from doctors and nurses to the lowest-ranked employees - went on strike Monday citing incapacitation to continue reporting for work due to … [Read more...] about Zimbabwean gov’t health workers call off strike

Representative image Some corporate leaders are grasping at whatever they can to get back to the way things were. But they might find themselves fighting a culture shift beyond their control. As long as work has existed, employers have tried to size up their employees’ commitment to their jobs. Are you on the fast track? The mommy track? The leadership track? Now, if some corporate leaders have their way, there will be a new test for workplace devotion — and anyone who opts for remote work gets a failing grade. But can C.E.O.s really claw their way back to 2019? This past week, Elon Musk issued an ultimatum to Tesla and SpaceX employees requiring them to return to the office for at least 40 hours per week — or lose their jobs. Mr. Musk, who is known for having camped out for weeks at Tesla factories, thinks remote work is an affront to productivity and personal commitment. Last month, he praised Chinese workers for “burning the 3 a.m. oil,” comparing them with … [Read more...] about The Office Monsters Are Trying to Claw Their Way Back to 2019

- A + A KUALA LUMPUR (June 25): Federal Territories Minister Datuk Seri Dr Shahidan Kassim has urged unrelated parties to stop interfering and politicising the issue of land acquisition for the Sungai Baru redevelopment project in Kampung Baru, which is still in the process of negotiations. He also urged the group of residents who still disagree with the land acquisition process not to be confused and influenced by those who just want to take advantage of the issue by pretending to be "heroes". “Landowners are more entitled than others. They voice their opinion a little wrongly when the opinion is channelled to those who want to take advantage. “I may be challenged by other parties. Go ahead. Challenge me. I have no problem but I am still in favour of the landowners. There is no need to look for others because we (the government) will make the decision, but if other people want to be heroes, it is up to them,” he said at the press conference of the Self-Defence … [Read more...] about Shahidan: Unrelated parties must stop interfering, politicising Sungai Baru issue

- A + A (June 25): Just days after saying Singapore is “brutal and unrelentingly hard” on bad behaviour in the crypto industry, Sopnendu Mohanty, the chief fintech officer of the city’s regulator, struck a cordial tone. Mohanty, in a LinkedIn post summarising his thoughts from the Point Zero Forum in Switzerland, commended the leadership of some of the biggest firms in the sector. “Leaders from the crypto/token space (Binance, Crypto.com, Ripple and others) are fully committed to building a secure and sustainable innovation solving real problems, and identifying real-economy opportunities,” said Mohanty of the Monetary Authority of Singapore (MAS). “It is heartening to see the clarity among chief executive officers (CEOs) on the need to create a responsible and compliant industry. The future is on the right path.” Mohanty’s praise comes as the digital currency market continues to spiral downwards following a broad-based sell-off in digital assets and the collapse … [Read more...] about Singapore regulator praises leaders of crypto firms like Binance

The larger job market in India remains buoyant across sectors – even amid layoffs by a clutch of startups in recent months – and employees will generally continue to call the shots through FY23. “We see FY23 to remain an employees’ market with some amount of adjustments. Employees still have the bargaining power, opportunities and enjoy the benefit of demand,” said RP Yadav, chairman of Genius Consultants, a staffing and human resource company. While information technology and IT-enabled services will continue recruiting, e-commerce, logistics and export-oriented sectors including textiles and leather goods are doing well in terms of hiring. The consumer goods sector will increasingly do well, as will the retail and hospitality segment, according to staffing firms, HR experts and talent managers. The near-normal level of economic activity in retail and hospitality is indicative of a revival in these sectors after a prolonged phase of weakness due to the pandemic and offers a … [Read more...] about Amid startup layoffs, larger job market remains buoyant across sectors

Representative image Walmart Inc-owned payments unicorn PhonePe's consolidated net loss for 2020-21 (FY21) remained largely unchanged, even as the company reported a sharp rise in revenues, as its employee costs surged over two times during the period. PhonePe reported a consolidated net loss of Rs 1,728 crore for FY21, against a consolidated net loss of Rs 1,771 crore a year earlier, according to financial data accessed by the business intelligence platform, Tofler. During the year, the company reported an 85 percent rise in its revenue from operations to Rs 690 crore, the data showed. PhonePe's employee benefit costs for the year jumped to Rs 1,235 crore from Rs 480 crore a year earlier, the data showed. According to Tofler, the share-based remuneration to the key management personnel for FY21 was Rs 608 Crore. However, the company halved its advertising and promotional expenses to Rs 535 crore from Rs 1,017 crore a year earlier. The payments company, in April, had said … [Read more...] about PhonePe’s FY21 loss little changed even as revenues soar 85%