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Funding winter or not, startups loosen purse strings to reward top talent

Economic TimesEconomic Times · 1y ago
Funding winter or not, startups loosen purse strings to reward top talent
Medial

Indian startups are increasingly rewarding and retaining key talent with high increments, stock options, performance-related bonuses, non-monetary incentives, and accelerated promotion tracks. Companies such as UpGrad, Plum, Simplilearn, Eruditus, Shiprocket, Urban Company, CashKaro, and Simpl are focusing on rewarding top performers amidst a shift towards profitability in the wake of funding challenges. Startups are implementing a differentiated approach to appraisals, disproportionately rewarding high performers and retaining top talent through long-term incentives and career development opportunities. While overall sector hikes may be lower, top performers can expect significant rewards.

Tata Steel ends 'legacy steelmaking' at UK's largest steelworks

Money ControlMoney Control · 11m ago
Tata Steel ends 'legacy steelmaking' at UK's largest steelworks
Medial

- Tata Steel's Blast Furnace 4 at the Port Talbot plant in Wales ceased operations after over 100 years. - Steelmaking at the plant is set to resume in 2027-2028 using Electric Arc Furnace-based steelmaking with UK-sourced scrap steel. - Tata Steel is investing GBP 1.25 billion in low CO2 scrap-based steelmaking, sustaining over 5,000 jobs in the UK. - The closure of legacy steelmaking assets in Port Talbot marks a significant event in the UK steel industry's history. - Tata Steel plans to collaborate with business partners, academia, governments, and communities to secure a brighter, greener future. - The company's planned GBP 750 million investment in low-CO2 green steelmaking will be supported by a GBP 500 million Grant Funding Agreement with the UK government. - Many of the existing heavy end assets at Port Talbot had reached the end of their operational life. - Tata Steel is sharing details about the new Electric Arc Furnace with local communities, customers, and the planning department. - The transition will result in an estimated 2,800 redundancies, prompting sadness from steelworkers' trade unions. - The UK government has provided a minimum voluntary redundancy payout and offers of training to support affected workers.

‘More money on the table’ if Tata Steel can create more assets, jobs in UK

LivemintLivemint · 1y ago
‘More money on the table’ if Tata Steel can create more assets, jobs in UK
Medial

The new Labour government in the UK is willing to offer a higher grant to Tata Steel if the company invests in building downstream assets and creating more jobs for workers affected by the closure of blast furnaces. Discussions are also ongoing with the Dutch government, which has agreed to provide financial aid to Tata Steel for a similar transition at its mill in the Netherlands. The UK government supports the closure of blast furnaces for safety reasons and is focused on helping Tata Steel create a sustainable business and save jobs. In India, Tata Steel is evaluating the impact of a recent Supreme Court judgement regarding mineral rights and considering whether to continue investing in captive iron ore mines.

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