• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, July 14, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

HUL, ITC and United Spirits – Crorepati factories?

by Thomas Babychan
July 18, 2022
in Business, India News, News
Reading Time: 3 mins read
0
HUL, ITC and United Spirits - Crorepati factories?

HUL, ITC and United Spirits - Crorepati factories?

TwitterWhatsappLinkedin

Hindustan Unilever Limited (HUL), Indian Tobacco Company (ITC) and United Spirits (USL) are one of the largest companies in India in the first moving capital goods segment. While other companies in and out of India were trying to cut their workforce due to economic crisis caused by the pandemic and the Russia Ukraine conflict, these three companies from the FMCG sector increased the salary of the executives in the last year by a huge amount.

You might also like

China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

SpaceX Injects $2 Billion Into Elon Musk’s AI Startup xAI Amid Broader $5 Billion Funding Push

Trump Threatens 30% Tariffs on EU and Mexico, Escalating Trade Disputes Ahead of August Deadline

These companies together have now added more than 130 executives to a club of those who are earning more than one crore a year.

According to its annual reports, HUL saw an increase of 33% in the number of people who earn more than one crore in the company. ITC saw a growth of 44% in the number of people who earn their salary in eight figures. United Spirits, who is into the business of alcohol and such beverages, reported an increase of 113% in the number of people who earn more than one crore in a year.

Why companies are offering an increase in remuneration?

According to Shiv Agrawal, who was currently managing director of ABC consultants, this increase in the compensation for executives was necessary as the companies were making sure that executives and managers do not leave the company in post-pandemic scenario. Because of the shortage of talent for these specific senior posts and the cost of hiring new employees to such significant positions in a company, companies decided to increase the salary.

Last year, 163 employees at Hindustan Unilever Limited earned more than a crore, while t220 employees from ITC and 49 employees from United Spirits earned in eight figures.

Due to the Great Resignation scenario in the international job market and the increasing inflationary fears in the global economy, the companies who occupied top positions in the economy had to pay to the existing employees in significant roles so that they do not quit from the firm.

While ITC claims that the increase in remuneration was due to increase in number of senior executives in the company, HUL says that such a move was necessary in order to make sure that executives who contribute to the growth of the company do not quit.

With already existing high attrition rates in companies all over the world and the emergence of new startups in the economy, the value for senior executives has skyrocketed in the past few years. With changing preferences of individuals regarding employment and a very competitive talent market, companies are making sure that there is no brain drain in their workforce.

A similar situation can be witnessed regarding Tesla motors as since Elon Musk announced plans to cut the workforce, other companies from the Tech industry are eagerly waiting to add those experienced employees into their workflow.

Tweet54SendShare15
Previous Post

How to redact a pdf

Next Post

Snapchat brings chatting and video calling to the web

Thomas Babychan

Thomas Babychan is an experienced business and economic journalist with a focus on international trade, stock market, banking, and multilateral organizations. He also has expertise in international relations and diplomacy.

Recommended For You

China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

by Harikrishnan A
July 14, 2025
0
China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

China has reached a major milestone in its quest to revolutionize high-speed transportation. In a recent test conducted at Donghu Laboratory in Hubei Province, a magnetic levitation (Maglev)...

Read more

SpaceX Injects $2 Billion Into Elon Musk’s AI Startup xAI Amid Broader $5 Billion Funding Push

by Harikrishnan A
July 14, 2025
0
Elon Musk Threatens “Thermonuclear Lawsuit” Against Media Watchdog Amid Ad Exodus on X

Elon Musk's artificial intelligence company, xAI, has received a significant financial boost with SpaceX contributing $2 billion as part of a larger $5 billion funding round, according to...

Read more

Trump Threatens 30% Tariffs on EU and Mexico, Escalating Trade Disputes Ahead of August Deadline

by Harikrishnan A
July 14, 2025
0
Trump Campaign Confirms Security Breach Amid Concerns of Foreign Interference

President Donald Trump is once again shaking up global trade by threatening to impose a 30% tariff on imports from two of the United States’ closest trading partners:...

Read more
Next Post
Illustration of web version of Snapchat

Snapchat brings chatting and video calling to the web

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?