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Hello Folks,
Some employees are in aww by hearing the news of what is happening at Walmart in the USA.
Recently announced by the conglomerate, Walmart said in its press release that their store managers can earn up to $400,000 annually and get $20,000 in stock grants each year.
The boost to Walmart managers' pay provides a pathway to a lucrative career for almost any worker, Walmart said. It noted that a college degree isn't required to become a manager
On the other side, PayPal to lay off around 2500 employees to 'right-size' the company.
The layoff cycle continues as several tech giants like Google, Microsoft, and eBay give their employees pink slips.
Now payment industry giant PayPal has joined the trend by announcing a reduction in its global workforce by 9 percent (2500 employees).
The development comes soon after PayPal announced that it doubled down on Artificial intelligence by enabling faster checkout, AI-powered merchant recommendations, and more.
Also, the Union Budget held great potential for significantly impacting job security for blue and grey-collar workers, and the Government must establish clear and supportive frameworks to formalize this informal workforce group.
In the history of India, employment has remained the main concern for the middle-income ranged population. The middle class, facing unemployment concerns, has been eagerly waiting for policies and schemes that could generate more employment opportunities. With elections in focus, there is a high anticipation for an increase in job opportunities.
Indians’ forever dream of ‘roti, kapda, makaan’ is also linked with Nirmala Sitharaman’s Union Budget.
What Startups can expect from the Union Budget 2024?
Recently in an interview, Madhuri Ganadinni, co-founder, The Tea Planet has noted that the anticipation for startups entering the upcoming fiscal year revolves around a budget that aligns with the values of growth and innovation and is particularly high for businesses engaged in food manufacturing.
One of the Frozen Food Startup FroGo raises $1.15 million in the seed round and it will utilize the funds to expand operations to 4 cities across the North, West, and South zones of India with its warehouses, 50 dark stores & distribution network, and building technology with fully integrated temper.
The government of India has set a vision for the food processing sector to achieve a target of doubling its contribution to the GDP by 2030.
Foreign direct investments in India’s food industry totaled $4.18 billion between April 2014 and March 2020. By 2030, India’s annual household consumption is believed to quadruple, making it the fifth-largest consumer in the world. The sector’s size is estimated to be around US$322 billion, and it is expected to reach US$543 billion by 2025, growing at a CAGR of 14.6%.
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See you next week with more exciting updates of Job market.
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