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There have been ample reports on how <keyword id="19919711" type="General" weightage="100" keywordseo="gen-z" source="keywords">Gen Z</keyword> employees are doing things differently at workplaces and setting new trends. Be it opting for <keyword id="19901232" type="General" weightage="20" keywordseo="work-life-balance" source="keywords">work-life balance</keyword> over a higher salary, taking leaves without guilt, saying no to micromanagement among other things, this generation appears to be creating a whole new culture. And what happens to those who try to oppose this new culture? They get schooled on the internet, of course. In a recent incident, a manager took to X (earlier called Twitter) and shared how one of his Gen Z employees took a one-week vacation to the mountains after going through a breakup. However, contrary to his expectation, various X users started accusing him of trivialising mental health issues by such statements. Read on to know what exactly happened. <h2>"He had a breakup" </h2> The man's tweet read, "One of my Gen z team members suddenly declared 1 week leave. It was a critical time of the project so I tried to reason. He did not budge. The leave was because he had a breakup and he wanted to go to the mountains to forget the breakup." When a user commented that it is better to give people leaves than deadlines, the manager replied, "Believe me it was one way communication. I had to deal with the repercussions on project." Several other tweets followed that sided with the Gen Z employee. "So according to you, mental health is nothing," a user wrote while another commented, "That’s a perfect reason to declare leave. Business is business, will go on as will other things." <div type="image" title="google (27)" msid="115042080" hostid="261" sizebytes="295800"></div> <h2>"Gen Z does things differently" </h2> The man also clarified in one of the tweets that he didn't fire the Gen Z employee and even promoted him for his good work. He wrote, "Mate. No need to assume the worst. The guy is still in my team and has even been promoted for his good work. I was just stating how gen z’s are doing things differently." While most users schooled the manager, there were some who supported him as well. A user wrote, "I'm a younger Millennial &amp; I’m appalled by the lack of respect so many of my peers have for professors (I finished school late; many were ten years younger). It’s not much for older generations who GIVE these opportunities to expect a little bit of gratitude &amp; deference." In a similar incident, another company's manager's tweet went viral in which he shared a screenshot of how his Gen Z employee notified him that he will be on leave for a week. The short and crisp leave application email read, "I will be on leave till November 8, 2024. Bye."

‘He had a breakup and took a one-week leave’: Manager shares about his Gen-Z employee, internet reacts

The parents were right, folks; we should have been looking out for a government job, especially if you reside in the startup capital of India. In a move that has left <keyword id="19974189" type="General" weightage="20" keywordseo="private-sector" source="keywords">private sector</keyword> employees green with envy, the <keyword id="19896017" type="General" weightage="20" keywordseo="karnataka" source="keywords">Karnataka</keyword> cabinet on Monday decided to implement the recommendations of the <keyword id="20985744" type="General" weightage="20" keywordseo="Seventh-Pay-Commission" source="keywords" meta.keywordsubtype="org" meta.entityname="Seventh Pay Commission" meta.hostid="261" meta.entityid="Seventh Pay Commission">Seventh Pay Commission</keyword>, resulting in an impressive 27.5% hike in the basic salary of state government employees. <h2><keyword id="20727223" type="General" weightage="20" keywordseo="pay-hike" source="keywords">Pay hike</keyword> like few others</h2>The Chief Minister is expected to make the official announcement in the Legislative Assembly, detailing how over seven lakh state government employees will benefit from this substantial increase starting August 1, as per sources. The Seventh Pay Commission, chaired by former chief secretary K Sudhakar Rao, has recommended this hefty pay rise, which will cost the state exchequer an additional Rs 17,440.15 crore annually. This move comes on the heels of the interim 17% salary hike given by the former Chief Minister Basavaraj Bommai in March 2023, to which the current administration is adding another 10.5%, making the total hike 27.5%. <div type="Article" hostid="261" msid="111663090" title="The latest trick companies could be using to pay workers less" mstype="2" mssubtype="0"></div>The decision for this remarkable pay raise wasn't just an act of benevolence, however. The Karnataka State Government Employees Association had announced plans to go on an indefinite strike starting August, pressuring the Siddaramaiah government to act decisively. With this hike, the state administration aims to not only meet the demands of its employees but also to bolster morale and productivity within its workforce. <h2>Miles above the average</h2>To put this in perspective, let's compare the raise to the private sector. HR research firm Aon's latest survey indicates that while India Inc. is set to offer an average hike of 9.5% in 2024, the manufacturing sector is expected to be the most generous with a 10.1% increase. Financial institutions come close with a 9.9% hike, and Global Capability Centres (GCCs) of multinational firms are likely to offer 9.8%. Even tech product companies, known for their competitive salaries, are projected to give an average hike of 9.5%. Yet, all these figures pale in comparison to the Karnataka government's increment. <h2><keyword id="21315567" type="General" weightage="20" keywordseo="employee-retention" source="keywords">Employee retention</keyword></h2>As private companies grapple with attrition rates that have almost reached pre-pandemic levels, the Karnataka government's move could be seen as a strategic effort to attract and retain talent. Aon's study shows that attrition in 2023 was 18.7%, a decrease from over 21% in 2021 and 2022. By offering a significant pay hike, the Karnataka government is positioning itself as an attractive employer in a competitive <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword>. <div type="Article" hostid="261" msid="111115782" title="Flexibility, salary key jobseeker parameters for new roles in India: Report" mstype="2" mssubtype="0"></div>However, even if you look at salary increments across Asia Pacific countries, India's expected average hike of 9.5% is significantly higher than its neighbours. Bangladesh follows at 7.3%, China at 5.7%, and Japan at a modest 3.6%. Karnataka's 27.5% hike, therefore, is not just a national highlight but an extraordinary figure in the broader regional context. In an era where private sector employees are often seen as the beneficiaries of generous pay hikes, Karnataka's state government has flipped the script. With this 27.5% salary hike, the allure of a government job in Karnataka has never been stronger.

Time for a govt job? Karnataka announces impressive 27% pay hike for state employees

Discussions around <keyword id="19956983" type="General" weightage="20" keywordseo="mental-health" source="keywords">mental health</keyword> at the workplace reignited in the last few days when the death of two corporate employees made headlines. And it is no secret that without having a healthy mind, you cannot be productive. Ample studies in the last few months have pointed out the importance of mental health and it is important to talk about these issues. Today (October 10) marks <keyword id="23481940" type="General" weightage="20" keywordseo="World-Mental-Health-Day" source="keywords">World Mental Health day</keyword>. It is an occasion for raising awareness about mental health issues and combating social stigma. Celebrated globally since 1992, this day encourages education and advocacy for mental well-being, reminding us that mental health is a crucial aspect of overall health, especially in the workplace. <h2>Ex-Google employee experienced stress, anxiety </h2> <keyword id="23300967" type="General" weightage="20" keywordseo="Nicholas-Whitaker" source="keywords">Nicholas Whitaker</keyword>, who worked with <keyword id="19902762" type="General" weightage="100" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> for 13 years, told Business Insider India in an interview that he also experienced the pressures of a high-stress work environment. “During my time at Google, I faced significant stress and anxiety. It became clear that no matter how successful you are on paper, if your mental health is compromised, it diminishes your quality of life and ability to fully engage at work,” he said. He added that <keyword id="19925554" type="General" weightage="20" keywordseo="mindfulness" source="keywords">mindfulness</keyword> played a crucial role in his recovery, saying that mental health is not just a personal issue but a workplace concern that should be treated with equal importance as productivity and performance. <h2>How to protect your mental health? </h2> To help others protect their mental health, Whitaker shared several key practices that can be game-changers. 1. Set Boundaries: Understand your limits and communicate them clearly. This includes managing your workload, taking time away from work, and setting boundaries around communication. Protecting your time and energy is essential. 2. Practice Mindfulness or Meditation: Mindfulness was a lifesaver for him in managing corporate stress. Even dedicating a few minutes each day to meditation can help you stay grounded and aware of your feelings, allowing you to make necessary adjustments before burnout sets in. 3. Take Breaks: In high-pressure environments, it’s easy to feel that there’s no time for a break. However, regular breaks—even just a short walk or stepping outside—can significantly enhance your mental state and boost productivity. 4. Find a Support System: Having people to talk to, whether colleagues, friends, or coaches, can make a considerable difference. Building a supportive community can combat feelings of isolation, which often exacerbate mental health issues. 5. Align Work with Values: Stress and dissatisfaction often arise from a misalignment between personal values and work. Reflecting on what truly matters to you and making small shifts toward work that aligns with those values can lead to greater fulfillment. To conclude, Whitaker said, “Mental health is not a luxury—it’s essential for personal well-being and professional success. When organisations invest in their employees’ mental health, they cultivate a culture where people feel supported, valued, and empowered to excel in their work.” As we observe <keyword id="23486492" type="General" weightage="20" keywordseo="world-mental-health" source="keywords">World Mental Health</keyword> Day, it’s crucial to remember that prioritising mental well-being can lead to a more productive, innovative, and fulfilled workforce.

World Mental Health Day: Ex-Google employee shares tips on protecting mental health at workplace, says he experienced stress and anxiety

<ul class="summary-list"><li>Four states are voting on minimum wage increases this Election Day.</li><li>The federal minimum wage is $7.25 an hour, but many states have higher rates.</li></ul>This Election Day, minimum wage workers in four states are waiting to learn if they'll get a raise.Though the federal minimum wage has remained at <a target="_blank" href="https://www.businessinsider.com/current-federal-minimum-wage-is-13-years-old-inflation-impact-2022-7">$7.25 since 2009</a>, many municipalities have moved to boost it. The <a target="_blank" class="" href="https://www.dol.gov/agencies/whd/mw-consolidated">Department of Labor</a> said that 20 states either default to the federal minimum or have minimum wages that equal $7.25. Washington, DC, has the highest minimum wage at $17.50 an hour.Even with Democrats historically leading the charge for a higher federal minimum, it's a proposition that often gets bipartisan support: In 2020, <a target="_blank" href="https://www.businessinsider.com/florida-vote-increase-in-minimum-wage-research-on-employment-2020-11">Florida voted</a> to reelect Donald Trump as president — and also voted to gradually bump the minimum wage to $15 per hour.Here's where the minimum wage stands across the country and where it might change.<h2 id="6e75099f-cfe4-4b65-a7a5-8e5720d6f000">Alaska</h2>This Election Day, Alaskans — who <a target="_blank" class="" href="https://ballotpedia.org/Presidential_voting_trends_in_Alaska">historically lean red</a> — are voting on a ballot measure to raise the minimum wage to $15 an hour by 2027 and then peg it to inflation. The minimum wage in <a target="_blank" href="https://www.epi.org/minimum-wage-tracker/#/min_wage/Alaska">Alaska</a> rose to <a target="_blank" href="https://labor.alaska.gov/lss/rights.htm#:~:text=Effective%20January%201%2C%202024%2C%20Alaska,be%20taken%20by%20the%20employer.">$11.73</a> at the start of 2024, meaning the new measure would provide another boost.<a target="_blank" class="" href="https://www.elections.alaska.gov/doc/oep/2024/Ballot%20Measure%201_Eng.pdf">Ballot Measure No. 1</a> would also mandate that employers offer paid sick leave, with smaller employers required to provide at least 40 hours and larger employers made to offer at least 56 hours. The Economic Policy Institute, a left-leaning think tank, <a target="_blank" class="" href="https://www.epi.org/publication/alaskas-minimum-wage/">estimates</a> that the hike would directly affect 16,000 workers in Alaska, and, in total, directly and indirectly affect 30,800 workers across the state.<h2 id="c3d5077e-9755-40fd-a579-1b5d7fe5cf85">California</h2>In <a target="_blank" class="" href="https://www.nytimes.com/interactive/2024/us/elections/polls-president-california.html">blue stalwart</a> California, where the minimum wage rose to <a target="_blank" href="https://www.dir.ca.gov/dlse/minimum_wage.htm">$16 an hour</a> at the start of 2024, voters are also weighing another boost. <a target="_blank" href="https://lao.ca.gov/BallotAnalysis/Proposition?number=32&amp;year=2024">Proposition 32</a>, if passed, would bring the minimum wage for all workers to $18 an hour by 2026 — and, for larger businesses, the minimum wage would reach $18 by 2025.<h2 id="7c303318-8587-471f-af80-19d4e065d7e1">Missouri</h2>Voters in Missouri, which has voted Republican over the <a target="_blank" class="" href="https://ballotpedia.org/Presidential_voting_trends_in_Missouri">last two decades</a>, are weighing in on whether to boost their minimum wage after another gradual bump at the start of 2024. Missouri's minimum wage is $12.30 an hour. If <a target="_blank" href="https://www.sos.mo.gov/elections/petitions/2024BallotMeasures">Proposition A passes</a>, the minimum wage in Missouri will rise to $15 by 2026.<h2 id="08514347-1876-4b28-9a74-9c95fa750c78">Massachusetts</h2>In Massachusetts — a historically "<a target="_blank" class="" href="https://www.wbur.org/news/2024/11/05/massachusetts-presidental-election-maps">deep blue</a>" state — voters are weighing in on a more niche aspect of the minimum wage: what tipped workers should receive.The minimum wage in Massachusetts is $15 an hour, and the tipped minimum wage is $6.75. When tips are included in their wages, tipped workers are meant to reach $15 an hour. Prominent progressives have <a target="_blank" href="https://www.businessinsider.com/equal-pay-day-end-tipped-wage-bernie-sanders-amy-schumer-2021-3">criticized the practice of the tipped wage</a>, pointing to findings that show women make up a larger share of the tipped wage force — and wage gaps are smaller for restaurant workers in states with one set minimum wage.If Massachusetts' <a target="_blank" href="https://www.sec.state.ma.us/divisions/elections/publications/information-for-voters-24/quest_5.htm">question 5 passes</a>, the tipped wage would slowly increase to become level with the state minimum wage, reaching full parity by 2029.<h2 id="47e54b83-705d-4c9a-9155-8965d4824b21">Arizona</h2>Conversely, voters in <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-swing-state-polls-photo-finish-2024-11">the swing state of Arizona</a> are weighing whether to reduce the amount employers are obligated to pay tipped workers. As it stands, Arizona employers are able to pay tipped workers up to $3 less than the standing minimum wage — as long as workers' tips still bring them to the minimum wage.Under <a target="_blank" href="https://www.azleg.gov/alispdfs/Council/2024BallotMeasures/adopted%20analysis%20Proposition%20138%20SCR1040%20-%202024.pdf">Proposition 138</a>, employers would be able to pay their tipped workers up to 25% less than the state's minimum wage, which would put such workers at $10.77 an hour, <a target="_blank" class="" href="https://ballotpedia.org/Arizona_Proposition_138,_Wages_for_Tipped_Workers_Amendment_(2024)">according to Ballotpedia</a>. That would only be allowed, the proposition said, if the employer can "establish that the employee is paid at least the minimum wage plus $2.00 per hour for all hours worked" after including tips.Are you a worker earning at or near the minimum wage in your state? Share your story with these reporters at <a target="_blank" class="" href="mailto:jkaplan@businessinsider.com">jkaplan@businessinsider.com</a> or <a target="_blank" class="" href="mailto:mhoff@businessinsider.com">mhoff@businessinsider.com</a>.

Workers in 4 states are up for a raise. This map shows the minimum wage in every state.

The just-announced <keyword id="22906567" type="General" weightage="100" keywordseo="Unified-Pension-Scheme" source="keywords">Unified Pension Scheme</keyword> for central <keyword id="19933272" type="General" weightage="20" keywordseo="government-employees" source="keywords">government employees</keyword> will be available only for those who are currently subscribers of the New Pension Scheme (NPS), including retirees. The new scheme guarantees employees 50% of their average basic pay over the last 12 months before retirement, as a pension for a minimum qualifying service of 25 years against a market returns linked payout under the NPS. According to the scheme approved by the Union Cabinet, the pension will be proportionate for a lesser service period of up to a minimum of 10 years. Also, assured pension of Rs 10,000 per month on superannuation after a minimum of 10 years of service will be provided. The scheme has been brought out to address the concerns of government employees over NPS, which came into effect from January 1, 2004. Under the <keyword id="3246232" type="General" weightage="20" keywordseo="Old-Pension-Scheme" source="Orion">old pension scheme</keyword> (OPS), effective before January 2004, employees got 50 % of their last drawn basic pay as pension. Unlike the old pension scheme, UPS is contributory in nature, wherein employees will be required to contribute 10% of their basic salary and dearness allowance while the employer's contribution (the central government) will be 18.5%. Under the NPS, the employer contribution is 14%, and the employee contribution is 10%. However, the eventual payout depends on the market returns on that corpus, mostly invested in government debt. Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement. As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit. This prompted the Centre to constitute a committee in April 2023, under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture. Fulfilling the long pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Union Cabinet on August 24 approved the UPS, which will provide assured pension to 23 lakh eligible central government employees. Those opting for the UPS will not be able to switch back. The UPS will put an additional burden of Rs 6,250 crore on the exchequer per year. The expenditure will vary every year according to variations in the number of employees. In addition, there will be an arrear of Rs 800 crore that has to be paid under the National Pension System (NPS) to employees retiring before March 31, 2025. If these retirees opt for UPS, they will receive arrears. "UPS is being implemented by the Central Government, benefitting 23 lakh central government employees," Information &amp; Broadcasting Minister Ashwini Vaishnaw said on X on Sunday. If states also adopt the UPS architecture, a total of over 90 lakh government employees, who are presently on NPS, would be benefitted, he added. On Sunday, Maharashtra, where assembly elections are due later in the year, became the first state to announce the adoption of the UPS for its employees. RSS-affiliate Bharatiya Mazdoor Sangh (BMS) said though the government has attempted to overcome the shortcomings of the NPS, there are still some issues compared to OPS. BMS will decide its future course of action only after a detailed study of the UPS after it is notified. All India Trade Union Congress (AITUC) said it is nothing but an extension of the existing NPS. The trade union expressed apprehensions that UPS will have a lot of aberrations once implemented. AITUC reiterated that it will continue to fight for the restoration of the non-contributory OPS. ICRA Chief Economist Aditi Nayar said assured pensions will add to the government's committed expenditure in the future while reducing the uncertainty for employees. "This will have to be built into the fiscal consolidation roadmap going ahead," Nayar added. The UPS reflects a thoughtful approach to long-term social security, addressing concerns about the adequacy and sustainability of pension benefits in a rapidly changing economic landscape, said Shardul Amarchand Mangaldas &amp; Co Partner Dorothy Thomas. "This move signals the government's commitment to providing robust support for its workforce, enhancing financial stability for millions of government employees across the country," Thomas said.

Over 23 lakh govt employees under NPS get option to choose unified pension scheme

<ul class="summary-list"><li>Passengers are suing Royal Caribbean after a cabin attendant was found guilty of hidden recordings.</li><li>A class-action lawsuit estimates that up to 960 passengers may have been secretly filmed.</li></ul>Passengers are suing the <a target="_blank" class="" href="https://www.businessinsider.com/hated-cruises-changed-mind-royal-caribbean-wonder-of-the-seas-2024-9">Royal Caribbean cruise line</a> after a cabin attendant was sentenced to 30 years in prison for <a target="_blank" class="" href="https://www.businessinsider.com/royal-caribbean-cleaner-arrested-connection-cameras-bathrooms-watch-girls-video-2024-3">secretly recording adults and children</a> in states of undress with hidden cameras.Two lawsuits, one of which is a class action, were filed last week by passengers who said they were left traumatized after discovering they were victims of the recordings.In one lawsuit, a Hawaii-based passenger, identified as Jane Doe, is seeking $75,000 in damages from <a target="_blank" class="" href="https://www.businessinsider.com/category/royal-caribbean">Royal Caribbean.</a>The passenger said in the suit that she was a victim of a "perverted video voyeurism scheme" during her vacation aboard the <a target="_blank" class="" href="https://www.businessinsider.com/category/royal-caribbean#:~:text=I%27ve%20sailed%20with%20every%20Royal%20Caribbean%20cruise%20line%20%E2%80%94%20here%27s%20how%20to%20pick%20the%20best%20one%20for%20you">Symphony of the Seas</a> in January.According to the suit, the passenger was informed in April by the Broward Sheriff's Office Special Victim's Unit that she had been recorded while nude in her bathroom and stateroom.It said "the trauma and humiliation of viewing these videos," along with the knowledge that others had viewed them, caused her "lasting emotional and psychological harm."The suit added that the passenger had suffered <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/mental-health/what-is-depression">depression,</a> <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/mental-health/how-to-stop-a-panic-attack">panic attacks</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/signs-of-ibs-2018-11">irritable bowel syndrome</a> since finding out, and that she has undergone therapy to cope with the trauma.The suit follows the sentencing of Arvin Joseph Mirasol, who was her cabin attendant. Mirasol received a sentence of<a target="_blank" class="" href="https://www.justice.gov/usao-sdfl/pr/cruise-ship-employee-sentenced-30-years-prison-placing-hidden-cameras-inside-passenger"> 30 years in federal prison</a> in August after pleading guilty to producing child sexual abuse material.Bernardo Pimentel, a lawyer with Leesfield &amp; Partners who is representing the passenger, told Business Insider that, "We have to hold these companies accountable for the actions, the heinous actions, of their employees."Pimentel said the timing of the lawsuit follows an unsuccessful attempt to negotiate a solution with Royal Caribbean, adding that it is entirely coincidental that another suit was filed in the same week.In the separate class-action lawsuit, led by a passenger from New Hampshire, also identified as Jane Doe, the plaintiff said she was on the Symphony of the Seas in late February when Marisol hid a camera in her bathroom and captured her while undressed and "engaging in private activities."The camera was discovered in late February, the lawsuit said.According to a <a target="_blank" class="" href="https://www.justice.gov/usao-sdfl/pr/cruise-ship-employee-sentenced-30-years-prison-placing-hidden-cameras-inside-passenger">press release</a> from the US Attorney's Office for the Southern District of Florida, Homeland Security Investigations and Customs and Border Protection seized Mirasol's electronic devices in early March, after a passenger reported finding a hidden camera.Investigators found videos of children in various states of undress, as well as footage of naked women.The August press release said Mirasol had been placing cameras in cabins since December 2023, as well as hiding under beds while guests showered so he could secretly record them leaving the bathroom.The class-action suit estimates there could be up to 960 victims, based on the number of cruises, cabins attended by Mirasol, and passengers per cabin.The passenger behind it said she fears footage secretly taken of her may have been distributed on the internet, including on the <a target="_blank" class="" href="https://www.businessinsider.com/dark-web-changed-the-world-black-markets-arab-spring-2020-3">dark web</a>, causing her to live in "constant fear" that others are viewing it.The suit claims that <a target="_blank" class="" href="https://www.businessinsider.com/royal-caribbean-first-cruise-what-to-know-photos-2022-6">Royal Caribbean</a> holds vicarious liability for the emotional distress Marisol caused, and also accused the cruise line of negligence.It argues that Royal Caribbean should have foreseen the risk of sexual assault, given the <a target="_blank" class="" href="https://www.businessinsider.com/how-major-cruise-ship-companies-failing-victims-of-sexual-assault-2023-11">prevalence of such incidents on ships.</a>According to a<a target="_blank" class="" href="https://www.businessinsider.com/royal-caribbean-carnival-sexual-assaults-cruise-lines-2023-1"> 2023 Business Insider analysis</a> of data provided by the US Department of Transportation, of the approximate 500 incidents of sexual assault documented aboard 13 major cruise lines from January 2010 to September 2022, about 70% occurred on either Royal Caribbean or Carnival ships.Royal Caribean did not immediately respond to a request for comment from Business Insider.Royal Caribbean Cruises stock closed at $203.35 on Tuesday, up 1.72%, and close to the 52-week-high reached last Thursday.

Royal Caribbean passengers are suing over an employee who recorded women and kids with hidden cameras

<ul><li><keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> has delayed hiring of 2000 young professionals</li><li><keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="261" meta.entityid="NITES">NITES</keyword> has filed a complaint in the matter</li><li>Infosys is also making headlines for its new Power Programme</li></ul> The Nascent Information Technology Employees Senate (NITES), a Pune-based <keyword id="22859482" type="General" weightage="20" keywordseo="IT-employee-union" source="keywords">IT employee union</keyword>, has filed a formal complaint with the Ministry of Labour and Employment against Infosys. The union alleges that Infosys has delayed the <keyword id="22570539" type="General" weightage="20" keywordseo="onboarding-process" source="keywords">onboarding process</keyword> for around 2,000 <keyword id="22859483" type="General" weightage="20" keywordseo="fresh-engineering-graduates" source="keywords">fresh engineering graduates</keyword> for over two years, leaving them in a state of uncertainty and distress. <h2>Infosys delayed freshers' onboarding for more than two years</h2>According to NITES, these graduates were selected for roles such as system engineer and digital specialist engineer as early as April 2022. Despite receiving offer letters, the onboarding process has been repeatedly postponed. The affected graduates were required to participate in unpaid pre-training programs and undergo additional, unexpected assessments, further complicating their entry into the workforce. NITES claims that despite fulfilling all the prerequisites set by Infosys, these young professionals have been kept in limbo, leading to significant frustration and anxiety. The union views this situation as a serious breach of trust by Infosys, which has long been regarded as one of the pillars of India’s IT industry. Harpreet Singh Saluja, President of NITES, expressed deep concern over the situation, emphasizing the broader implications for the Indian IT sector. “We believe that this is not just a breach of trust by one of India’s largest IT companies, but also a significant issue that impacts the future of our country’s <keyword id="22360158" type="General" weightage="20" keywordseo="IT-workforce" source="keywords">IT workforce</keyword> and economy. We are calling on the government to take immediate and strict action against Infosys to ensure that such exploitative practices are halted and that the rights of these young professionals are protected,” Saluja said, according to a report by The Economic Times. The complaint filed by NITES highlights that even after long delays, the graduates were asked to participate in an unpaid virtual pre-training program from July 1 to July 24, 2024. They were promised final joining dates of either August 19 or September 2, 2024. However, despite completing the training, they were informed that they would need to retake the exam offline, once again without pay. This has only added to their frustration and uncertainty about their future with the company. <h2>Infosys’ Power Programme</h2>In a contrasting development, Infosys is also making headlines for its recent campus placement drive, where it has introduced a new 'power programme.' According to a report by The Times of India, the company is offering pay packages of up to Rs 9 lakh per annum to select colleges, a significant increase from its standard entry-level packages, which typically range from Rs 3-3.5 lakh. This move is seen as part of Infosys’ strategy to attract highly specialized talent in areas such as coding, software development, cloud computing, AI/ML, and cybersecurity. Infosys plans to hire between 15,000 and 20,000 graduates in FY25. During its earnings call last month, Infosys announced plans to resume campus placements and off-campus fresher hiring in the current fiscal year. The top four IT firms in India are expected to collectively add about 82,000 freshers in FY25. Among them, HCLTech and <keyword id="19945574" type="General" weightage="20" keywordseo="wipro" source="keywords">Wipro</keyword> plan to hire 10,000 and up to 12,000 freshers, respectively. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/work-life-balance-is-a-myth-photo-of-man-working-in-front-of-momo-stall-goes-viral-internet-reacts/articleshow/112516510.cms" data-type="tilCustomLink" target="_blank">'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts</a> <a href="https://www.businessinsider.in/tech/article/arrange-or-love-marriage-debate-is-passe-people-are-now-marrying-their-ai-partners/articleshow/112522764.cms" data-type="tilCustomLink" target="_blank">Arrange or love marriage debate is passe, people are now marrying their AI partners</a>

Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint

<ul class="summary-list"><li>Housing shortages and affordability problems are especially acute in America's swing states.</li><li>Arizona's population is surging and Pennsylvania's is shrinking; neither can build enough homes.</li></ul>Rising home prices and rents are weighing on <a target="_blank" class="" href="https://www.businessinsider.com/rent-housing-affordability-swing-state-voters-apartments-presidential-race-redfin-2024-9">voters' minds</a> this election season.Renters and homeowners in the handful of swing states that will likely determine the US presidential election — which include Michigan, Wisconsin, Pennsylvania, Arizona, Georgia, North Carolina, and Nevada — have been disproportionately hit by rising housing costs, caused by decades of underbuilding, a surge in new residents, high construction costs, and red tape.Since 2017, "in 6 of the 7 states, home prices have risen faster than the national average, and the national average is already quite high," Alex Horowitz, director of Pew's Housing Policy Project, told Business Insider, citing data from Zillow and Apartment List. "In all 7 states, rent growth has been higher than the national average."Two swing states — Arizona and Pennsylvania — exemplify in their own ways how housing markets across the country have failed to address the key issue they face: too few homes.In Arizona, sprawling subdivisions can only sprawl so far, and years of population growth have outstripped supply. While Pennsylvania's population shrank in recent years, it's still struggling to dig itself out of a construction worker shortage after years of underbuilding.<h2 id="1a859852-557b-4304-892a-c09040f80a6d">Zoning restricts housing for Arizona's population boom</h2>For years, Arizona has been among the <a target="_blank" class="" href="https://www.newsweek.com/population-map-reveals-fastest-growing-us-states-this-century-1904724">fastest-growing</a> states in the country. Sprawling subdivisions helped accommodate the growing population and were enough to keep housing costs relatively low through the early 2010s.The pandemic supercharged pressure on the housing market. Since 2020, Arizona has welcomed <a target="_blank" class="" href="https://www.census.gov/quickfacts/fact/table/AZ/PST045223">hundreds of thousands of new residents</a>. As demand spiked, snarled supply chains helped inflate construction costs. Since January 2020, home prices in Arizona have risen by 55%, compared to a national average of 45%, while rents have jumped 27%, compared to a national average of 22%, Horowitz said.<div type="image" title="A worker operates machinery during construction at a housing development in the Phoenix suburbs of Queen Creek, one of the fastest-growing communities in Arizona." height="832" width="1280" msid="114584579" hostid="261" sizebytes="114024"></div>Housing experts blame some of Arizona's home shortage on the restrictive zoning laws in <a target="_blank" class="" href="https://morrisoninstitute.asu.edu/sites/default/files/exclusionary_zoning_legal_barrier_to_affordable_housing.pdf">many of its cities and suburbs</a>, which tend to allow only large-lot, detached single-family homes. These homes are generally more expensive than denser housing and require far more land."The obvious land that's proximate to job centers is scarcer and scarcer after we've had 20 or 30 years of significant home building" in Arizona, Ben Metcalf, managing director of the Terner Center for Housing Innovation at UC Berkeley, told Business Insider.At the same time, the state is running out of water to support its new homes and residents. State officials <a target="_blank" class="" href="https://www.nytimes.com/2023/06/01/climate/arizona-phoenix-permits-housing-water.html">announced</a> last year that Arizona doesn't have enough groundwater to support all the future homes that have been approved for building in the Phoenix area.<h2 id="807b5340-f3a6-4d5d-a378-25a3d54b550f">Pennsylvania is up against construction worker shortages amid a shrinking population</h2>Two thousand miles away, in Pennsylvania, voters are also facing a housing shortage. Home prices have risen 39% since January 2020, Horowitz noted, even though the state's population is shrinking. Pennsylvania has lost <a target="_blank" class="" href="https://www.pennlive.com/news/2024/03/amid-pockets-of-growth-pennsylvania-population-declines-worsen.html">an estimated 41,000 people</a> since 2020.Like many other states, Pennsylvania has underbuilt housing since the 2008 financial crisis, which tanked the housing market. In recent years, it's struggled with issues that plague the rest of the country, including elevated building material costs and high interest rates that make capital more expensive.But it's also dealing with a particularly severe construction worker shortage. Bureau of Labor Statistics data <a target="_blank" class="" href="https://fred.stlouisfed.org/series/PACONS">shows</a> that after growing steadily during the 2010s, the total number of construction employees in Pennsylvania has plateaued since bouncing back after the pandemic recession, while construction jobs continue to boom in the nation as a whole.Horowitz noted that Pennsylvania ranked 48th out of the 50 states for homes permitted from 2017 to 2023."The aging workforce is a very big problem in residential construction in a place like Pennsylvania," Metcalf said, adding that restrictive federal immigration policies have limited the construction workforce, which is <a target="_blank" class="" href="https://qz.com/immigrants-make-up-more-of-the-us-construction-labor-fo-1851118320">disproportionately made up of immigrants</a>.Horowitz noted that, like in Arizona, restrictive zoning policies are also preventing the construction of denser, cheaper housing in the state's suburban and exurban communities.Pennsylvania Gov. Josh Shapiro directed his administration in September to develop a statewide housing action plan. "While Governor Shapiro has made real progress in his first two years, he knows more needs to be done to fix the housing shortage and cut costs for Pennsylvanians," the administration spokesperson said.<h2 id="34ab4d96-8ac9-4d17-ba48-b2df8f02ca74">Housing policy on the campaign trail</h2>Swing-state voters list <a target="_blank" class="" href="https://www.pewresearch.org/politics/2024/09/09/issues-and-the-2024-election/">the economy</a> as <a target="_blank" class="" href="https://www.wsj.com/politics/elections/trump-harris-swing-state-poll-october-2024-c3ca9414">their top issue</a> in this election. But "when you drill down, it is about affording to live and pay their rent and pay their mortgages," Tucson Mayor Regina Romero told Business Insider. "Affordable opportunities help families stop worrying about where they're going to live next or sleep next and start worrying about how they can thrive in our economy."Housing affordability has become such an acute problem that Vice President Kamala Harris <a target="_blank" class="" href="https://www.businessinsider.com/how-kamala-harris-plans-to-build-3-million-new-homes-2024-8">has promised to</a> build 3 million new homes over her first term, send $25,000 in downpayment assistance to first-time homebuyers, and spend billions on housing innovation.Meanwhile, former President Donald Trump <a target="_blank" class="" href="https://www.businessinsider.com/trump-biden-housing-crisis-policy-rising-home-prices-apartment-rents-2024-6">has said</a> he'll bring housing costs down by cutting interest rates — though the Federal Reserve, which controls rates, operates independently of the government. He's also promised to <a target="_blank" class="" href="https://www.nytimes.com/2024/10/11/business/economy/trump-housing-crisis-deportations.html">deport millions of immigrants</a> to free up housing and <a target="_blank" class="" href="https://www.businessinsider.com/trump-freedom-cities-build-housing-conservatives-scoff-at-leftist-plan-2023-3">open up federal land</a> for home construction.To be sure, not all Americans are being adversely impacted by rising rents and home prices. Many homeowners who locked in relatively low mortgage rates years ago have watched their home equity soar as prices have skyrocketed.Renters are almost twice as likely as homeowners to say that housing affordability is a top-three issue in deciding who to vote for in this election, a recent <a target="_blank" class="" href="https://www.redfin.com/news/renters-vs-homeowners-housing-affordability-election/">Redfin survey found</a>. Almost a quarter of potential first-time homebuyers say they're waiting until after the election to buy a home, with many interested in Harris' downpayment support, <a target="_blank" class="" href="https://www.redfin.com/news/homebuying-delay-election-survey-2024/">Redfin also reported</a>.Noah Sheidlower contributed reporting.

2 swing states show why the US is struggling to build enough houses

<ul class="summary-list"><li>AWS CEO Matt Garman has been sent a letter from employees protesting his pro-RTO comments.</li><li>Garman had said most employees he's spoken to are "excited" about a five-day office return. </li></ul>Amazon Web Services CEO Matt Garman is <a target="_blank" class="" href="https://www.businessinsider.com/amazon-workers-blast-strict-rto-mandate-five-days-week-2024-9">facing backlash</a> from some employees over his comments about its return-to-office policy, according to an open letter obtained by Business Insider. Over 500 employees signed a letter sent to the AWS chief on Wednesday, criticizing his recent remarks about Amazon's mandate to return to the office five days a week, which is up from its previous policy of three days a week.The letter "urges" Garman to reconsider his position on the RTO mandate. It comes after <a target="_blank" class="" href="https://www.businessinsider.com/amazon-office-policy-aws-ceo-employees-rto-five-days-2024-10">Garman told staffers during an all-hands meeting</a> earlier this month that nine out of 10 employees he's spoken to are excited to return to the office full time.Garman addressed the policy, announced in September, for the first time in the all-hands meeting, saying, "There are other companies around" for any employee who doesn't wish to abide by the new policy, according to a transcript of the meeting reviewed by BI. He added that he didn't mean it in a "bad way." Some employees aren't buying Garman's comments that most people he had spoken to are "actually quite excited by this change," a copy of the letter and internal Slack messages viewed by BI shows. The letter states, "By rigidly mandating a 5-day in-office culture and telling employees who cannot or will not contribute to the company's mission in this specific way that 'there are other companies around,' you are silencing critical perspectives and damaging our future in doing so." Garman also said in the all-hands meeting that he hasn't seen people's ability to "really innovate" when they are not working together in person. The letter says his comments do "not align with the experiences of many employees."One staffer wrote on an Amazon Slack channel, in messages viewed by BI, "This statement from Matt doesn't ring true with me or our teams."Another staffer joked that Garman "ambushed- er spontaneously approached random AWS engineers" at the company's headquarters to come to the consensus that most employees he's spoken to are excited by the RTO mandate.Garman's remarks came after Amazon said in September it would <a target="_blank" class="" href="https://www.businessinsider.com/amazon-rto-faq-document-spells-out-new-rule-2024-9">require employees to work from the office</a> every day beginning next year. The policy is stricter than at Amazon's peer companies and, <a target="_blank" href="https://www.businessinsider.com/amazon-workers-blast-strict-rto-mandate-five-days-week-2024-9">by some accounts</a>, stricter than Amazon's office work policy before the pandemic. Amazon's CEO Andy Jassy, <a target="_blank" class="" href="https://www.aboutamazon.com/news/company-news/ceo-andy-jassy-latest-update-on-amazon-return-to-office-manager-team-ratio">in a memo announcing the new mandate,</a> said that the company had made the decision to "further strengthen" its culture and teams.Amazon had 1.5 million employees in 2023, most of whom work in warehouses. There are more than 30,000 employees in the internal Slack channel where the letter originated. The letter has been signed by 523 staff from Amazon and AWS, with 172 of those including their names.In response to a request for comment about the letter, Amazon spokesperson Margaret Callahan told BI the company is offering resources to employees depending on their location, including elder care, pet sitters, caregiver referral services, and commuter benefits.Read a full copy of the open letter below: Not only are these comments inconsistent with the experiences of many employees, they indicate an outright abdication of AWS' role as one of the world's most innovative companies and a leader in our industry. By making these statements, you are continuing and compounding a trend by Amazon's S-team of misrepresenting the realities of working at Amazon and the impact this mandate will have on the company and, by extension, its customers. Amazon claims to be a data-driven company, and statements which rely on "we believe" and "I feel," or exclaim how many people are excited about something to justify themselves fail to achieve our standard of decision making for critical issues that impact hundreds of thousands of the company's employees and its customers. Your statements indicate that either you have not collected enough data to support your position but are moving ahead anyways, or you have seen the data which indicates otherwise and are choosing to ignore it, or you have motivations to support this policy which you are not being forthcoming about with those it impacts. All of these possibilities break the trust of your employees who have not only personal experience that shows the benefits of remote work, but have seen the extensive data which supports that experience. Data from independent research has shown time and time again that companies which embrace flexible in-office policies allow a more diverse set of workers to sustainably and effectively contribute to the shared goals of businesses like ours. If being inclusive and understanding of employees' personal working styles and circumstances isn't enough to justify why this is the right approach for us to take, research is clear that diverse perspectives lead to more innovation, productivity, and resilience. This diversity in backgrounds, locations, and working styles is essential to AWS' ability to hire and retain exceptional talent and remain a market leader and innovator in the future. By rigidly mandating a 5-day in-office culture and telling employees who cannot or will not contribute to the company's mission in this specific way that "there are other companies around," you are silencing critical perspectives and damaging our culture and our future in doing so. Moreover, this does not uphold Amazon's espoused "Strive to be Earth's Best Employer" leadership principle, especially for select and protected groups who have sought a safer, more inclusive, and healthier work environment and are disproportionately impacted by these policies. These groups include but are not limited to working parents (especially those with young children), employees who are neurodiverse or have disabilities or disorders, workers with caretaking responsibilities, and workers on a visa who have no choice but to comply or risk having to leave their home by quitting. While your remarks focus on some of the benefits you perceive in in-person collaboration, they fail to even acknowledge the significant challenges it presents to these valued workers who have often overcome adversity at every level in order to contribute to Amazon's mission. In order to highlight these challenges, we have included a selection of anonymous stories from Amazon employees about the impact Amazon's 3-day in-office policy has already had on their life and work with this letter. In addition, studies show that Return To Office mandates tend to push out more senior and tenured employees across the board , who may be best poised to participate in and give insight into these white-boarding and brainstorming sessions you refer to, while hurting the morale of those who stay. You have not addressed these issues nor presented any solution to them while touting the new and even more impactful 5-day policy. We do not accept this from our leaders. We see and value contributions from workers of these groups every day, and will not stand silently by while you dismiss their humanity and trivialize their impact. Our time working remotely during the height of the COVID-19 pandemic proved that we are effective, creative, and successful without being primarily in-person, and to take no lessons from that experience would be extremely disappointing, because Amazon is and always will be a global company. We will always collaborate with teams and stakeholders in different physical locations, countries, and timezones where the primary, and potentially only, interaction is virtual. We have tools and approaches to do this effectively which are not novel or difficult to use. On the contrary, pushing for more time in-office will harm these countless cross-regional interactions as there will be significantly fewer overlapping working hours between collaborators. This can lead to meetings that might have been done by videoconferencing now taking place via asynchronous mechanisms like email, which slows the velocity of decision-making from minutes to hours or days. Finally, by taking this action, AWS is not living up to its full potential and is creating a bleak outlook for its future. While it is absolutely true that there are challenges with flexible and remote work, we have always been a company that solves problems in new, exciting, and innovative ways, rather than relying on antiquated approaches that happened to work well some time in the past. The cloud computing industry that we now base our work and livelihoods on might not exist today if we had adhered to that restrictive thinking in our early days. Given the scale of the problems we tackle across a workforce which is distributed all over the world, we are not content with relying on spontaneous in-office conversations to make progress and drive new ideas. We are instructed to collect, interpret, and act on data and invent new mechanisms to affect the outcomes we want to see, not to sit back and hope good things happen. We worry that when customers see us encounter a true challenge and refuse to solve problems that stand in the way of embracing it, they will rightly lose trust in AWS' ability to innovate. For these reasons we urge you to reconsider your comments and your position on the proposed 5-day in-office mandate. Remote and flexible work is an opportunity for Amazon to take the lead, not a threat. We want to work for a company and for leaders that recognize and seize this moment to challenge us to reinvent how we work. Respectfully signed by 523 Amazonians, 172 of whom have elected to include their name below.Editor's note: BI has removed the names of the employees who signed the letter to protect their privacy.</blockquote>Are you a tech-industry employee or someone else with insight to share?Contact the reporters, Jyoti Mann and Ashley Stewart, via the encrypted messaging app Signal at jyotimann.11 or +1-425-344-8242. Email them at jmann@businessinsider.com and astewart@businessinsider.com. Use a nonwork device.

Read the letter sent to AWS CEO Matt Garman, signed by 500 employees, protesting his RTO comments

<ul class="summary-list"><li>Remote employees upset about return-to-office mandates basically have no legal path against the policies.</li><li>"Unless there's a protected reason under established law," a worker has no legal recourse, an attorney said.</li></ul>It's 2021, one year after the COVID-19 pandemic transformed the workplace. Your boss says the company does not plan to require employees to return to the office. You give up your $3,000-a-month apartment in the city to buy a house hundreds of miles away.Fast forward two years, and now the company requires you to either come into the office five days a week, or leave.This is a reality that remote workers around the US are either facing or bracing for — some of them wondering whether they can successfully fight these mandates in the courts.The answer, according to employment lawyers, is — not really"Unless there's a protected reason under established law" such as a medical circumstance, "then you have no recourse," Ron Zambrano, the employment litigation chair at the California-based law firm, West Coast Trial Lawyers, told Business Insider.When <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ceo-return-to-office-mandate-5-days-week-2024-9">Amazon</a> announced its plans last week to end remote work and require corporate employees to be in the office five days a week, some <a target="_blank" href="https://www.businessinsider.com/amazon-workers-blast-strict-rto-mandate-five-days-week-2024-9">staffers swiftly criticized</a><a target="_blank" class="" href="https://www.businessinsider.com/amazon-workers-blast-strict-rto-mandate-five-days-week-2024-9"> the megacorporation's decision</a> in an internal Slack channel.The move by the Seattle-based tech giant comes after other major companies, including <a target="_blank" class="" href="https://www.businessinsider.com/walmart-rto-jobs-mandate-also-return-to-roots-2024-5">Walmart</a>, recently hardened return-to-office protocols. And the latest <a target="_blank" class="" href="https://www.businessinsider.com/companies-requiring-return-to-office-rto-mandate">push by companies to get workers back at their desks</a> could <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ceo-return-to-work-policy-rto-five-days-office-2024-9">trigger an even broader RTO trend</a>.Some workers have filed <a target="_blank" class="" href="https://www.washingtonpost.com/technology/2024/05/06/return-office-mandates-lawsuits-employees/">lawsuits against their companies</a> or charges with the National Labor Relations Board over RTO mandates. But remote employees who simply argue that returning to the office is an inconvenience to their lifestyle have "zero chance" to fight the RTO mandate with legal action, Zambrano said.The vast majority of employees across the country are considered <a target="_blank" class="" href="https://www.businessinsider.com/can-boss-require-turn-on-webcam-during-meetings-fire-you-2022-10">"at-will,"</a> meaning an employer can terminate them at any time as long as the reason for the dismissal is not illegal. At-will employment also means that an employee can quit at any time."Unless you can assert some type of statutory rights, an employer can do whatever they want," including forcing employees back into the office full-time, said Zambrano.Domenique Camacho Moran, a partner at the law firm Farrell Fritz in New York, who tends to represent management in employment-related matters, told BI that most employees "do not have a choice" regarding how their job is performed."Absent some contractual obligation, it is the employer's decision as to whether a job should or should not be performed remotely," Camacho Moran said.Even if an employee was specifically hired as a remote worker, unless a written contract guarantees remote work for a set period of time, that employee still would have no legal grounds to push back against an RTO policy, the attorneys said."There's no law in any state, there's no law on the federal level, that gives anyone the right to just say, 'I want to work from home, and that's my right.' So until that changes, you have to fit into something else," Zambrano said, adding that an employee using a medical reason to justify working from home would have the most legal recourse.According to Zambrano, if an employer rejects a doctor-prescribed "reasonable accommodation" for an employee to work from home, the employer could face legal liability under certain state laws and the federal <a target="_blank" href="https://www.businessinsider.com/how-to-ask-for-health-accommodations-remote-work-flexible-hours-2022-8">Americans with Disabilities Act</a>.However, said Camacho Moran, just because an employee has an illness or a disability "does not mean that remote work is the appropriate accommodation.""They don't get to choose their accommodation," said Camacho Moran. "They must be accommodated if they have a disability that requires accommodation, but it's not a choice as to which accommodation."Reasonable accommodations under the ADA can include modifying a work schedule or workplace setting, as well as moving to remote work.Assuming an employee's job can be done remotely, and an employer does not permit an employee to work from home due to a legitimate medical reason, the employer would open itself up to potential legal action, Zambrano said.

Employees angry about RTO mandates have essentially no legal path to fight them

<ul class="summary-list"><li>Two Swiss luxury watchmakers have sought state support to avoid job cuts. </li><li>Sowind Group, which owns both brands, has put about 15% of its 320 employees on furlough. </li></ul>Swiss luxury watchmakers have said they are seeking state support to help cope with a drop in demand.<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-04/swiss-watchmakers-including-girard-perregaux-seek-state-aid-amid-downturn?utm_source=google&amp;utm_medium=bd&amp;utm_campaign=HP&amp;cmpId=GP.HP">Bloomberg reported</a> that Girard-Perregaux and Ulysse Nardin, owned by Sowind Group, are the first brands to confirm that they've turned to the government for financial aid.Under the Swiss short-time work program, the state will pay up to 80% of workers' salaries directly to the company to cover cut hours. The benefit aims to prevent permanent job cuts.Sowind Group's CEO and chairman, Patrick Pruniaux, has placed about 15% of its 320 employees on the state program, according to Bloomberg.The luxury watch market has been struggling since its pandemic boom.Swiss-based Swatch, which owns the watch brands Longines, Omega, and Tissot, saw its net sales drop by 14.3% in the first half of the year. Meanwhile, luxury watch sales fell 13% at fellow Swiss luxury giant Richemont in its most recent quarter. Both companies have grappled with a sharp decline in demand from China. Plunging demand for luxury watches has also been troubling the secondary market.Between January 2021 and March 2022, secondhand luxury watch prices spiked as <a target="_blank" href="https://www.businessinsider.com/rolex-ceo-watches-not-investments-dangerous-wrong-message-dufour-2024-4">investors sought to diversify their portfolios</a>.But as the Federal Reserve started raising interest rates in March 2022, demand for expensive, high-end items like watches and jewelry fell.Data from WatchCharts Overall Market Index — which tracks the cost of 60 secondary market watches taken from the top 10 luxury watch brands — showed that as of September 2024, luxury watch prices have fallen by nearly 40% since their peak in 2022.It's not just the luxury watch market. High-end fashion companies, including <a target="_blank" href="https://www.businessinsider.com/china-luxury-retail-sales-slowdown-brands-fashion-2024-7">Burberry and Gucci,</a> have also reported slumping sales in China.

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