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Paytm to double ESOP pool from 24 mn to 61mn equity options

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Earlier, 166 employees of Paytm, including existing and former staff members, had converted their employee stock options to shares. With shareholders approving the expansion of the ESOP pool, from 2.4 crore to more than 6 crore, another 40 employees of Paytm have opted to convert their ESOPs to shares, ahead of the Rs 16,600 crore initial public offering (IPO). Now, at least 200 employees have converted their ESOPs to shares. These shares can be sold at a higher price at the time of the IPO.

In August, about 166 employees had been allotted about a million shares, including the Company’s president. Since such conversion of ESOPs into shares costs money, the Company is also arranging to help the employees obtain loans from its lenders. Paytm will help them get loans of up to Rs 100 crore, and will also pay the interest on these loans for six months, so that employees do not feel any financial pressure in their attempt to become shareholders. The Company is seeking help from IIFL, ICICI Securities and Edelweiss Capital for a credit line of Rs 100 crore for this purpose.

Paytm’s IPO is expected to be India’s largest and is valued at about Rs 1.47 lakh crore. The Company had posted a revenue of Rs 3,186 crore for FY 20-21 compared to the Rs 3,540 crore it posted in the previous year. Its losses dropped to Rs 1,701 crore during the same period as compared to about Rs 2,942 crore the previous year.

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Source: https://www.hrkatha.com/news/compensation-benefits/paytm-to-double-esop-pool-from-24-mn-to-61mn-equity-options/

HRTech

Digital HR publication helping you to transform HR | HRZone

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Apple to test unvaccinated staff each time they enter office

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Tech giant Apple has announced that from October 24, it will require its unvaccinated corporate employees to get tested for COVID-19 every time they enter office premises.

The new policy will be applicable to all Apple employees who decline to report their vaccination status to the Company.

Apple has also mandated rapid tests once a week for their vaccinated employees as well. However, employees of the Company’s retail stores will be tested for the virus twice a week, as reported by Bloomberg.

The employees of Apple will be provided with rapid testing kits so that they can take a test all on their own. The results will have to be self-reported by the employees via the internal app.

All employees have been asked to report their vaccination status by October 24. In the coming days, they will have to show proof of their vaccination.

The updated policy will be floated by November 1 and Apple has informed its employees of the same via an internal e-mail earlier. The Company hopes to open its offices to staff for at least three days, starting January 2022. However, it has said that it will announce ‘return to office’ for employees a month prior to actually implementing the decision.

The Company has been urging its workforce to get inoculated and had ramped up the optional testing programme.

The post Apple to test unvaccinated staff each time they enter office appeared first on HR Katha.

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Source: https://www.hrkatha.com/news/global-hr-news/apple-to-test-unvaccinated-staff-each-time-they-enter-office/

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Ola Cars to expand workforce by 10,000, begin operations in 100 Indian cities in 12 months

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Expanding into the vehicle commerce business, Ola Cars has revealed its plan to hire 10,000 employees in the coming 12 months. The Company will expand its operations in 100 cities and set up service centres across the country. At the time of the launch of the Company, Ola released a statement saying that it will be starting operations in 30 cities initially.

By foraying into the used cars business, the Company will soon establish itself as a complete mobility solutions provider.

The move is well timed because in five years’ time, the used car market is predicted to grow from the present 3.9 million units annually, to 8.2 million units a year, which is more than double the estimated figures for the new cars market over the same period.

Ola is eyeing $2 billion gross merchandise value (GMV) for its new vehicle commerce platform in the upcoming year. In its first month, the Company is selling pre-owned vehicles in Delhi, Mumbai, Pune, Bengaluru, Chennai, Hyderabad and Ahmedabad. It is further planning to start operations in Chandigarh, Jaipur, Kolkata and Indore by the end of this week.

According to Arun Sirdeshmukh, CEO, Ola Cars, the Company has already sold 5,000 cars in its first month of operation, and it is gearing to hire majorly for its sales team and service centres.

The Company will also look to open its platform up for new vehicles from other automotive brands as well. “Ola Cars will begin with pre-owned vehicles, and over time, will open up for new vehicles from Ola Electric and other automotive brands as well,” the Company had said in its initial statement.

The post Ola Cars to expand workforce by 10,000, begin operations in 100 Indian cities in 12 months appeared first on HR Katha.

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Source: https://www.hrkatha.com/news/ola-cars-to-expand-workforce-by-10000-begin-operations-in-100-indian-cities-in-12-months/

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Bitcoin News: IWF kooperiert nun doch mit dem “coolsten” Diktator

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Nachdem El Salvador Bitcoin vor einigen Wochen als offizielles Zahlungsmittel integriert hat, hatte der IWF die Zusammenarbeit mit dem lateinamerikanischen Land infrage gestellt. Nun hat der IWF beschlossen, die Kooperation mit El Salvador doch weiterzuführen.

Aber wie hängen El Salvador, der Internationale Währungsfonds (IWF), Bitcoin und der US-Dollar zusammen?

Wir wünschen dir viel Spaß beim Lesen!


Die Zusammenarbeit geht weiter

Auf einer Pressekonferenz erklärte der amtierende Direktor der Abteilung Westliche Hemisphäre des Internationalen Währungsfonds, Nigel Chalk:

„Wir arbeiten aktiv mit der salvadorianischen Regierung zusammen und helfen ihr dabei, einige der Risiken und Nachteile zu durchdenken und zu bewältigen.“

Denn bereits vor der Bitcoin-Adoption hatte der IWF El Salvador vor den möglichen negativen Konsequenzen dieses Schritts gewarnt. Für den IWF sind die Folgen auf die Wirtschaft des Landes durch die Bitcoin-Adoption nicht absehbar und stellen somit ein hohes Risiko dar. Ferner geht es – wie so häufig – um die möglicherweise kriminelle Nutzung der ältesten Kryptowährung. Auf der Pressekonferenz erklärte Chalk, dass man auch in Hinblick auf die Terrorismusbekämpfung einem Risiko ausgesetzt sei. Doch mittlerweile weiß man, dass Bitcoin keine zwangsläufig von Terroristen bevorzugte Währung ist.

Marc Fuchs erklärt:

„Durch die Adaption von Bitcoin hat El Salvador einen Schritt in Richtung Unabhängigkeit zum US-Dollar gemacht. Der IMF könnte mit dieser Unterwanderung unzufrieden sein und gerät somit in einen Interessenkonflikt: Eine dem USD gegenüber rebellische Nation finanziell unterstützen oder auf Opportunitätskosten durch nicht eingenommene Zinsen sitzen bleiben.“



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1,3 Milliarden US-Dollar und ein Diktator

Der Präsident der Zentralbank von El Salvador, Douglas Rodriguez, erläuterte kürzlich, dass es um eine Kreditvereinbarung mit dem IWF in Höhe von 1,3 Milliarden US-Dollar gehe.

„Wir sehen keine Risiken. Vielleicht Aufwärtsrisiken. Bitcoin wird ein Zahlungssystem werden, ein System für finanzielle Inklusion.“

Nicht nur der IWF sieht die Bitcoin-Adoption kritisch, sondern auch einige Bürger. Für den Präsidenten Nayib Bukele sind die kleinen Proteste aber kein Grund zur Sorge. Denn in diesem Retweet rückt er die Größenverhältnisse in ein anderes Licht.

Richter Esli Carrillo erklärt, warum er Teil der Protestbewegung ist:

„Wir sind auf die Straße gegangen, weil wir uns in Richtung Autoritarismus… Diktatur bewegen.“

‘El Dictador más cool del mundo mundial’: The coolest dictator in the world.
Ein Bild von Twitter

Präsident Nayib Bukele beantwortete die Proteste mit einer Veränderung in seiner Twitter-Bio zu „der coolste Diktator der Welt“.

Der coolste Diktator der Welt nutzt aber nicht nur seine Twitter-Reichweite, sondern auch Instagram. Mit den Worten „ein paar Bilder auf Instagram haben eine größere Wirkung als jede Rede in dieser Versammlung“, machte der Politiker ein Selfie auf dem Podium der UN-Generalversammlung im September.



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