0a153d007d3dfa3e87c087337c56bb4f Archives | POST A RESUME HR Consultancy

Flipkart, ShareChat, to buy back ESOPs

Vipul Mali — Wed, 23 Jun 2021 16:09:51 +0000

Flipkart, the e-commerce company, is thinking of buying back employee stock options (ESOPs) worth almost $125 million, while it works on raising funds.
This isn’t the first time the Company will be repurchasing ESOPs. In 2019-20, Flipkart India had bought back over 48,000 employee stock options, while the year before that, it had bought back 1,87,974. It had granted 2,04,940 options during 2019-20, compared to 2,94,187 previously.

Meanwhile, Mohalla Tech, the parent company of social-media platform, ShareChat ,and short video app Moj, announced its intention to buy back employee stocks worth $19.1 million. Only a few months ago, the Company had managed to raised $502 million at a valuation of $2.1 billion, entering the country’s startup unicorn club. Almost 200 current and ex employees of the Bengaluru-based startup who hold vested options will be able to participate in this scheme.
As per reports in the media, Walmart-owned Flipkart is in talks with investors to raise funds to the tune of about $3 billion, valuing the Company at $35 billion.

About three years ago, when Walmart had acquired Flipkart, it had kept aside about $500 million to buy back ESOPs from the employees of Flipkart. As a result, some of the employees in its 15,000-strong workforce had come into a lot of money.

According to the Times of India, Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority (ADIA) and Japan’s S SoftBank are considering becoming investors, putting in about $2 billion in the Group. Softbank may actually invest around $500 million.

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Google staff can use Work Location Tool to calculate pay for remote work

Vipul Mali — Wed, 23 Jun 2021 16:05:59 +0000

Google has launched a platform that will allow its employees to calculate how much their pay or earnings will be if they decide to work remotely and relocate to a less expensive or more costly location to do so. The tool, called Work Location Tool, will let workers calculate how their salary will be adjusted according to the location they choose, based on the cost of living of the place and in keeping with the local job market.

In the new hybrid workplace, more employees will have the flexibility to choose where they work from. This tool will help them in making that choice, as they will have a clear idea of how their salaries and benefits will be adjusted according to their location. They can clearly see how their compensations or earnings will change from one location to another.

The Company is sure that once offices start reopening worldwide, about 60 per cent of its 1,40,000-strong global workforce will work from office only for a couple of days in a week, while 20 per cent will shift to new office locations. The remaining 20 per cent will continue to work from home. The time spent in office will be primarily for collaboration. Which team will come in when will be decided on the basis of the work and function. Therefore, depending on the nature of the work, there may be roles that require presence in office for more than three days a week.

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Nasscom appoints Accenture’s Rekha Menon as Chairperson

Vipul Mali — Thu, 22 Apr 2021 13:29:36 +0000

Rekha takes on the position from her previous role as Vice-Chairperson, succeeding UB Pravin Rao, Chief Operating Officer, Infosys, who served as chairman for 2020-21.

Nasscom appoints Accenture’s Rekha Menon as Chairperson

Rekha M Menon, Chairperson and Sr. Managing Director of Accenture India has been appointed as Chairperson of the National Association of Software and Services Companies (Nasscom) for 2021-22.

She is the first woman Chairperson of Nasscom in the association’s 30-year history. Rekha takes on the position from her previous role as Vice-Chairperson, succeeding UB Pravin Rao, Chief Operating Officer, Infosys, who served as chairman for 2020-21.
NASSCOM also announced the appointment of Krishnan Ramanujan, President and Head of Business & Technology Services, Tata Consultancy Services as their Vice Chairperson for 2021-22.
“The ongoing Covid-19 pandemic continues to test the resilience of our more than 4 million people, even as it has created new opportunities for growth with technology emerging as the lifeline for societies and economies across the world,” Menon said in a statement.

“As we cautiously navigate the pandemic, I look forward to working with the NASSCOM Executive Council and its members to drive our industry’s long term growth by augmenting India’s position as the digital talent nation for the world, driving people-first innovation, and working with the government to create a conducive policy environment needed for sustainable growth,” she added.
NASSCOM also announced its new Executive Council which comprises industry sectors like ER&D, BPM, IT Services, GCC, SME and Startups. The new Executive council will play a strategic role in enabling India’s tech sector to take leadership on the global map through focused initiatives and programs.

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