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News on Medial
US union and Apple reach tentative labour agreement
Economic Times
·
1y ago
Medial
The International Association of Machinists and Aerospace Workers (IAM) Coalition of Organized Retail Employees (IAM CORE) has reached a tentative agreement with Apple on improving work-life balance, pay raises, and job security. The agreement, which will be voted on by workers at the Towson, Maryland, Apple retail store on August 6, includes an average pay raise of 10%, limits on contracted employees, and a severance clause. It also aims to improve work-life balance and transparency. The agreement will maintain current benefits and provide a platform for future negotiations.
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Workers at Apple supplier Flex's Tamil Nadu plant stage one-day strike
Economic Times
·
1y ago
Medial
Workers at a Flex manufacturing plant in Tamil Nadu, India, which supplies Apple, went on strike to demand higher wages and the recognition of a union. Approximately 750 permanent workers joined the Centre of Indian Trade Union, while contractors did not participate. The workers had requested wage raises for the next three years but failed to reach an agreement with Flex. The outcome of future negotiations will determine the next steps for the union. This is not the first strike at an Apple supplier in India in recent years.
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Boeing union endorses latest offer to end crippling strike
Money Control
·
9m ago
Medial
Boeing and union leaders representing 33,000 striking workers have reached a tentative agreement to end the labor dispute. The proposal includes a 38% wage increase over four years and a $12,000 signing bonus if approved. The union is urging its members to accept the offer, stating that they risk losing potential gains in the future. The vote on the proposal will take place on November 4. The strike has had a significant impact on Boeing's production and financials, with the company expecting to burn through $4 billion in the fourth quarter.
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TCS layoffs: No employee has complained, IT firm tells Karnataka labour authority - The Economic Times
Economic Times
·
2d ago
Medial
Tata Consultancy Services (TCS) met with Karnataka's labour officials following complaints from the Karnataka State IT/ITeS Employees Union regarding impending layoffs. The IT giant is set to lay off 12,000 employees globally, raising concerns over labour law violations. Although TCS representatives claimed to be unaware of the precise number and location of layoffs, they were asked to address employee grievances. Further discussions are scheduled, despite TCS not recognizing the union or any specific employee complaints.
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Labour Ministry directs Karnataka to investigate delay in fresher onboarding at Infosys
Economic Times
·
11m ago
Medial
The Ministry of Labour and Employment has directed the Karnataka State Labour Commissioner's Office to take action after receiving a complaint from IT union NITES regarding delayed onboarding by Infosys. The union had filed a complaint against Infosys for the delayed onboarding and "unprofessional treatment" of over 2,000 engineering graduates. Infosys has started sending joining dates to impacted graduates and has already sent out more than 1,000 appointment letters this week. The company is expecting to send appointment letters to everyone waiting to onboard by December, as it is experiencing a better demand environment.
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Over 7.5 crore jobs created in formal sector in last 7 years: Mandaviya highlights India's employment formalisation progress at ILC
Economic Times
·
1m ago
Medial
Over the past seven years, India has created over 7.5 crore formal sector jobs, according to Union Minister Mansukh Mandaviya. At the 113th International Labour Conference, he emphasized India's educational and employment initiatives and digital infrastructure development. The International Labour Organization praised India for increasing social protection coverage from 19% in 2015 to 64.3% in 2025, covering over 94 crore people. India's efforts in social welfare policies are recognized as globally significant.
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India-EU trade pact talks need political directions for meaningful deal
YourStory
·
7m ago
Medial
India and the European Union (EU) are in discussions for a free trade agreement (FTA), aiming for a balanced and mutually beneficial deal. The negotiations, which have gone through nine rounds of intense engagement, require political directions to reach a commercially meaningful agreement while considering each other's sensitivities. Commerce and Industry Minister Piyush Goyal emphasized the need for any sustainability discussions to account for the principle of 'Common But Differentiated Responsibility (CBDR)' and the different paths of development. The FTA with the EU would help India expand its export market and secure value chains.
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VW Union to Start Walkouts on Monday Over Cost-Cutting Plans
Livemint
·
8m ago
Medial
Volkswagen workers in Germany are planning walkouts in response to the carmaker's proposed cost-cutting measures. The labor union and management have been unable to reach an agreement on how to address the drop in demand for electric vehicles and higher operational costs. The union is unhappy with management's plans to close factories, and warning strikes are set to commence. This labor dispute is expected to be a significant challenge for Volkswagen. The company has stated that it wants a collaborative solution but also dismissed the union's proposals as insufficient.
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Sensex, Nifty follow suit as global indices decline after lean US macro data
VCCircle
·
1y ago
Medial
Indian shares, including the NSE Nifty 50 and S&P BSE Sensex, broke a winning streak as IT and auto stocks dragged following weaker-than-expected US data. This global sell-off was triggered by fears of a worsening economic outlook as weak manufacturing and labour market data were reported. Investors are now awaiting nonfarm payroll data to assess the health of the US labour market. The weaker US data has increased uncertainty and nervousness among investors, leading to a drop in global equity markets.
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India-UK partnership set to focus on AI, semiconductors, and critical minerals
Livemint
·
1y ago
Medial
India and the UK have announced a groundbreaking technology security initiative during the UK Foreign Secretary's visit to India. The agreement focuses on collaboration in areas such as AI, semiconductors, telecommunications, and essential minerals. It also aims to strengthen partnerships in climate action, trade, technology, and education. Both countries also pledged to enhance defense and security cooperation in the Indo-Pacific region. The UK's Labour Party, which recently won elections, aims to reset UK-India relations, including resuming negotiations on a free trade agreement. The trade agreement aims to double bilateral trade by 2030.
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India US look to come to an agreement on tariffs by July - BusinessToday
Business Today
·
2m ago
Medial
India and the US aim to reach a tariffs agreement by July. The negotiation deadline is specified as July, with reciprocal tariffs scheduled for July 9. While discussions on mutual tariff arrangements are advancing, conversations on non-tariff issues are expected to be more prolonged, extending beyond the initial timeline. The ongoing negotiations reflect both countries' willingness to resolve trade differences and strengthen their economic ties through this agreement.
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