As per multiple media reports, Sterlite Technologies Limited (STL), a prominent global provider of optical and digital solutions, has implemented salary reductions ranging from 15% to 25%.
In light of the prevailing market conditions and to position the company for sustained success in the long term is reducing the salary for its employees.
This decision has affected approximately 50% of its employee base and is intended to reduce operational expenses (OPEX) in response to increasing business challenges.
Since last month (January), salary reductions have been implemented at STL, specifically impacting executives in Band-4 and above. This has resulted in a sense of uncertainty throughout the organization.
Apart from this, STL, a prominent provider of optical and digital solutions, has recently introduced RoboEdge, an AI Robotics Education Program. This initiative aims to equip young students in rural Maharashtra with advanced technology skills. In collaboration with Robotex India, a non-profit organization dedicated to bridging the digital divide, STL is committed to empowering these students through this program.
Both companies conducted a warm, small group ceremony with Nanda Gaikwad, Deputy Municipal Commissioner, Education, as the chief guest along with Ganesh Dandage, Controlling Officer Education, Aurangabad Municipal Corporation, as the guest of honour to kick off this program.
Anjali Byce, Group Chief Human Resource Officer, STL, highlighted the impact of this initiative, stating, “We believe in the power of technology, and we want to empower the next generation with problem-solving and out-of-the-box thinking.”
“We are driving this change in government schools through our STEM, AI, and Robotics programs. We hope to give them a competitive edge for a dynamic and successful career ahead”, Anjali Byce added.
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