TCS has rolled out full quarterly variable pay to 70% of employees, while the rest received lower payouts based on business unit performance. This and more in today’s ETtech Top 5.
Also in the letter:
■ SC pushes digital accessibility
■ AI threatens jobs
■ ETtech Done Deals
TCS rolls out full variable pay to 70% of workforce
Tata Consultancy Services (TCS) paid 70% of its employees a 100% quarterly variable, with the rest receiving reduced payouts based on business unit performance.
What happened: Staff in well-performing business verticals—especially banking, financial services, and insurance (BFSI)— received full payouts for the March quarter. However, a TCS employee told us that those in sectors hit by tariff-related slowdown, such as consumer, life sciences & healthcare, manufacturing, communications, and media, received lower pay.
Adding context: TCS has also cut variable pay in the last two quarters, linking payouts to office attendance in September and reducing them again despite a return-to-office mandate.
Also Read: TCS to delay salary hikes on uncertain business environment
Good Glamm defers April salaries; former employees await final settlements
Cash-strapped Good Glamm Group has delayed April salary payments and has not settled dues for former employees. Sources told ET that the company is grappling with a liquidity crunch following unexpected delays in its fundraising efforts.
Signs of trouble: To stay afloat, the Mumbai-based company has been selling or exploring the sale of portfolio brands. In April, ET reported that Good Glamm plans to sell its media and influencer arm, MissMalini Entertainment, to marketing agency Creativefuel. In February, it sold the feminine hygiene brand Sirona for Rs 150 crore, far below the Rs 450 crore it paid to acquire the startup.
Read more on this: House of cards: Roll-up ecommerce model stumbles as founders reclaim brands amid funding struggles
Google has tweaked employee review system to boost rewards for top performers: Report
Google will overhaul its performance evaluation system in 2026, rewarding top performers with larger bonuses and equity grants. It will trim payouts for employees with ‘Significant’ or ‘Moderate’ impact ratings to fund this. The changes are part of its GRAD (Googler Reviews and Development) framework.
Zomato pivots away from restaurant-led quick delivery, doubles down on Blinkit Bistro
Deepinder Goyal, CEO, Eternal
Zomato’s parent company, Eternal, has shelved its second attempt at a 15-minute food delivery service instead of consolidating its rapid food delivery under Blinkit’s Bistro. The service now operates over 100 kitchens across major hubs such as Delhi-NCR, Bengaluru, and Mumbai.
Why Bistro? Bistro gives Eternal greater control over food production timelines, an advantage it lacked when relying on restaurant partners.
Different take: While Zomato has exited the restaurant-aggregated model for 10-minute deliveries, rival Swiggy expanded its comparable ‘Bolt’ service to 500 cities from 400 in December.
Hunt for profitability: Eternal’s retreat from its 15-minute food pilots reflects its focus on preserving profitability in its core food delivery business, especially as Blinkit continues to post mounting losses. Zomato’s food delivery gross order value rose 16% year-on-year and fell 1% quarter-on-quarter in January-March.
Quote, unquote: During the company’s earnings call, Eternal CFO Akshant Goyal said the firm had solved one side of the fast-delivery equation – fleet management – but not kitchen readiness. “The current restaurant density and infrastructure are not designed for 10-minute food delivery, which led to inconsistent customer experience,” he said. “We didn’t see any demand uptick during our Quick pilot.”
SC’s e-accessibility order to push firms on digital inclusivity
Legal experts say last week’s Supreme Court ruling marks a significant step towards making digital services more inclusive, especially for disabled people and other marginalised groups.
The ruling: The Court directed the central government and regulators to ensure all digital services and systems are accessible to everyone.
Why now: The ruling followed a petition highlighting how rapid digital expansion often neglects the needs of disabled people, the elderly, and rural populations.
What else: The Court ruled that banking, finance, and insurance sectors must make their digital services universally accessible. The Reserve Bank of India will also monitor banks and other financial bodies to ensure they follow the new rules.
AI job loss: 40% of roles at risk, experts warn
As AI advances, concerns about its impact on employment are mounting. While the technology promises greater productivity, many fear it could displace human workers.
Global warning: The UN’s trade agency recently warned that AI could affect up to 40% of jobs worldwide.
Current impact: According to SEO.AI, 14% of workers say AI has already affected their jobs. However, the effect so far has been less severe than many anticipated.
India’s outlook: Microsoft’s 2023 Work Trend Index reveals that 74% of Indian workers worry about losing their jobs to AI, an anxiety echoed in India’s 2024–25 Economic Survey.
Yet, despite these concerns, an even greater share — around 83% —say they’re happy to delegate as much work as possible to AI to ease their workload.
Also Read: IT may add 35-45% more AI roles in FY26 as deployments rise
ETtech Done Deals
Digital real estate platform Alt DRX raises $2.7 million in new funding round: Alt DRX, a startup specialising in ‘tokenised’ digital real estate, has raised Rs 23 crore ($2.7 million) in a new funding round.
Qatar Development Bank, WeFounder Circle Angel Fund, and nX Capital were investors in the round. The company will use the funds to boost customer acquisition, strengthen technology, and cover corporate expenses.
Battery tech startup Volt14 raises $1.87 million: Battery technology startup Volt14 has raised $1.87 million in a funding round led by Blume Ventures.
Also in the letter:
■ SC pushes digital accessibility
■ AI threatens jobs
■ ETtech Done Deals
TCS rolls out full variable pay to 70% of workforce
Tata Consultancy Services (TCS) paid 70% of its employees a 100% quarterly variable, with the rest receiving reduced payouts based on business unit performance.
What happened: Staff in well-performing business verticals—especially banking, financial services, and insurance (BFSI)— received full payouts for the March quarter. However, a TCS employee told us that those in sectors hit by tariff-related slowdown, such as consumer, life sciences & healthcare, manufacturing, communications, and media, received lower pay.
Adding context: TCS has also cut variable pay in the last two quarters, linking payouts to office attendance in September and reducing them again despite a return-to-office mandate.
Also Read: TCS to delay salary hikes on uncertain business environment
Good Glamm defers April salaries; former employees await final settlements
Cash-strapped Good Glamm Group has delayed April salary payments and has not settled dues for former employees. Sources told ET that the company is grappling with a liquidity crunch following unexpected delays in its fundraising efforts.
Signs of trouble: To stay afloat, the Mumbai-based company has been selling or exploring the sale of portfolio brands. In April, ET reported that Good Glamm plans to sell its media and influencer arm, MissMalini Entertainment, to marketing agency Creativefuel. In February, it sold the feminine hygiene brand Sirona for Rs 150 crore, far below the Rs 450 crore it paid to acquire the startup.
Read more on this: House of cards: Roll-up ecommerce model stumbles as founders reclaim brands amid funding struggles
Google has tweaked employee review system to boost rewards for top performers: Report
Google will overhaul its performance evaluation system in 2026, rewarding top performers with larger bonuses and equity grants. It will trim payouts for employees with ‘Significant’ or ‘Moderate’ impact ratings to fund this. The changes are part of its GRAD (Googler Reviews and Development) framework.
Zomato pivots away from restaurant-led quick delivery, doubles down on Blinkit Bistro
Deepinder Goyal, CEO, Eternal Zomato’s parent company, Eternal, has shelved its second attempt at a 15-minute food delivery service instead of consolidating its rapid food delivery under Blinkit’s Bistro. The service now operates over 100 kitchens across major hubs such as Delhi-NCR, Bengaluru, and Mumbai.
Why Bistro? Bistro gives Eternal greater control over food production timelines, an advantage it lacked when relying on restaurant partners.
Different take: While Zomato has exited the restaurant-aggregated model for 10-minute deliveries, rival Swiggy expanded its comparable ‘Bolt’ service to 500 cities from 400 in December.
Hunt for profitability: Eternal’s retreat from its 15-minute food pilots reflects its focus on preserving profitability in its core food delivery business, especially as Blinkit continues to post mounting losses. Zomato’s food delivery gross order value rose 16% year-on-year and fell 1% quarter-on-quarter in January-March.
Quote, unquote: During the company’s earnings call, Eternal CFO Akshant Goyal said the firm had solved one side of the fast-delivery equation – fleet management – but not kitchen readiness. “The current restaurant density and infrastructure are not designed for 10-minute food delivery, which led to inconsistent customer experience,” he said. “We didn’t see any demand uptick during our Quick pilot.”
SC’s e-accessibility order to push firms on digital inclusivity
Legal experts say last week’s Supreme Court ruling marks a significant step towards making digital services more inclusive, especially for disabled people and other marginalised groups.
The ruling: The Court directed the central government and regulators to ensure all digital services and systems are accessible to everyone.
- SC underscored that fair access to digital tools forms part of the fundamental right to life and personal liberty. It also stated that KYC requirements must not exclude any individual.
- Digital platforms must comply with the Rights of Persons with Disabilities Act and Article 21 of the Constitution, said Astha Sharma, partner at Aquilaw.
Why now: The ruling followed a petition highlighting how rapid digital expansion often neglects the needs of disabled people, the elderly, and rural populations.
What else: The Court ruled that banking, finance, and insurance sectors must make their digital services universally accessible. The Reserve Bank of India will also monitor banks and other financial bodies to ensure they follow the new rules.
AI job loss: 40% of roles at risk, experts warn
As AI advances, concerns about its impact on employment are mounting. While the technology promises greater productivity, many fear it could displace human workers.
Global warning: The UN’s trade agency recently warned that AI could affect up to 40% of jobs worldwide.
- A McKinsey & Company report estimates that depending on the pace of automation, between 400 and 800 million jobs could be lost globally over the next five years.
- Around 375 million people – 14% of the world’s workforce – may need to switch to entirely new careers.
Current impact: According to SEO.AI, 14% of workers say AI has already affected their jobs. However, the effect so far has been less severe than many anticipated.
India’s outlook: Microsoft’s 2023 Work Trend Index reveals that 74% of Indian workers worry about losing their jobs to AI, an anxiety echoed in India’s 2024–25 Economic Survey.
Yet, despite these concerns, an even greater share — around 83% —say they’re happy to delegate as much work as possible to AI to ease their workload.
Also Read: IT may add 35-45% more AI roles in FY26 as deployments rise
ETtech Done Deals
Digital real estate platform Alt DRX raises $2.7 million in new funding round: Alt DRX, a startup specialising in ‘tokenised’ digital real estate, has raised Rs 23 crore ($2.7 million) in a new funding round.
Qatar Development Bank, WeFounder Circle Angel Fund, and nX Capital were investors in the round. The company will use the funds to boost customer acquisition, strengthen technology, and cover corporate expenses.
Battery tech startup Volt14 raises $1.87 million: Battery technology startup Volt14 has raised $1.87 million in a funding round led by Blume Ventures.
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