Zomato CEO Deepinder Goyal has reversed his decision to charge a Rs 20 lakh fee for the position of Chief of Staff after facing severe backlash on social media. In a recent update, he clarified that the fee was only a filter to find candidates who were passionate about a fast-track career. This is not the first time Goyal has backtracked on a controversial decision, as Zomato previously retracted a service for delivering only vegetarian food after public criticism.
Zomato CEO Reverses Fee for Chief of Staff Position After Backlash
Zomato CEO Deepinder Goyal has reversed his decision to charge a Rs 20 lakh fee for the position of Chief of Staff, following severe backlash on social media. The move comes as the latest in a series of controversial decisions made by the company, which has faced criticism both for its policies and its treatment of employees.
Background
In a blog post on March 17, Goyal announced that Zomato was seeking a Chief of Staff to join the company's top management team. However, he also stipulated that candidates for the role would be required to pay a non-refundable application fee of Rs 20 lakh (approximately $27,000).
Goyal's decision was met with immediate outrage on social media, with many users accusing him of elitism and discrimination. Critics argued that the fee would effectively bar qualified candidates from applying for the position, unless they were already wealthy or willing to take on significant debt.
Reversal of Decision
In a subsequent update on March 21, Goyal backtracked on his decision, clarifying that the fee was only intended as a "filter" to find candidates who were "passionate about a fast-track career" and had the "right mindset." He added that Zomato would consider applicants from all backgrounds, regardless of their ability to pay the fee.
Previous Controversies
This is not the first time that Goyal and Zomato have faced criticism. In 2019, the company came under fire for a service called "Uber Lite" that delivered only vegetarian food. Zomato later retracted the service after public outcry from meat-eaters.
In 2020, Goyal was criticized for his handling of employee layoffs during the COVID-19 pandemic. Zomato laid off 13% of its staff without providing severance or benefits, a move that was deemed harsh and unfair by many employees.
Top 5 FAQs and Answers
1. Why did Zomato initially charge a fee for the Chief of Staff position?
Goyal claimed that the fee was intended as a filter to find candidates who were passionate about the role and had the right mindset.
2. What is the public reaction to the fee reversal?
Many people on social media have praised Goyal for backtracking on his decision, though some have questioned whether the move was genuine or simply a publicity stunt.
3. Has Zomato faced other controversies in the past?
Yes, Zomato has been criticized for its handling of employee layoffs during the pandemic and for launching a vegetarian-only food delivery service called "Uber Lite."
4. What is the current status of the Chief of Staff position?
Zomato is still seeking a Chief of Staff, but the application fee has been waived.
5. What is the future outlook for Zomato?
Zomato is a leading food delivery company in India, but it faces competition from other platforms such as Swiggy and Deliveroo. The company is also expanding into other services, such as grocery delivery and financial services.
An American Airlines flight headed to Washington D.C. collided with a military helicopter and crashed into the Potomac River, claiming the lives of all 64 passengers and crew members on board. The Ronald Reagan Washington National Airport has suspended operations temporarily while rescue efforts continue, but reports indicate that no survivors have been found yet. Aerial images of the wreckage have surfaced on social media, showing the devastating impact of the collision.
The Federal Reserve has decided to leave interest rates unchanged as Fed Chair Jerome Powell stated that they will wait for more data on inflation and employment before making any further adjustments. This comes as the Trump administration prepares to make decisions on immigration, tariffs, taxes, and other economic areas. Despite some politicians calling for rate cuts, Powell maintains that the current policy stance is appropriate, while also acknowledging that inflation remains elevated. The Fed will continue to monitor economic developments to maintain low unemployment and 2% annual inflation.
In the first monetary policy review of 2025, the US Federal Reserve decided to maintain the key interest rates at 4.25-4.50 per cent, which was in line with market expectations. Fed Chairman Jerome Powell stated that the economy had made significant progress and that indicators suggested continued solid expansion. The US market initially showed a downward trend but later recovered as GDP predictions for 2024 exceeded 2%. The FOMC released a statement stating that risks to achieving employment and inflation goals are balanced, leading to a stable target range for federal funds rate.
As the Union Budget approaches, speculations are rife about possible changes in the taxation structure. According to reports, Finance Minister Nirmala Sitharaman may merge features from both the old and new tax regimes, leaving the new one as the only tax structure with reduced rates and zero concessions. This could result in the abolition of all 80C, 80D, and HRA deductions, including investments such as PPF, life insurance premiums and ELSS. Taxpayers may also be able to claim a deduction of Rs 5,000 for preventive health check-ups under 80D.
Visa, a leading credit card and digital payments company, announced its partnership with XMoney to launch the XMoney Account, allowing users to transfer funds instantly and securely to their X Wallet via Visa Direct. The feature will also be connected to the user's Visa debit card, enabling easy P2P payments. Additionally, users will have the option to transfer funds directly to their bank accounts. This partnership is another step towards X's goal of becoming an all-in-one app, similar to China's super app model.
With the Union Budget 2025 just around the corner, it's crucial to have a grasp of important budgetary terms. As Finance Minister Nirmala Sitharaman gears up to present the second full budget of Prime Minister Narendra Modi's third term, here's a comprehensive guide to key budgetary concepts. Stay informed and prepared for the unveiling on February 1.
The Digital News Publishers Association has applied to intervene in the copyright suit between Asian News International and OpenAI, over alleged unauthorized use of online news content. Justice Amit Bansal has issued notice on the intervention plea, but has cautioned against expanding the scope of the suit. The Court also criticized the publication of OpenAI's written submission in the media before the hearing. While OpenAI sought time to respond, its counsel has argued that DNPA does not have authorization to file such an application.
Australian brands are still selling children's nightwear made from synthetic fibres that pose fire hazards, despite nine recalls issued by the ACCC. Wool, the only naturally flame-resistant fibre, has been deemed the safest option, but weak laws and labelling requirements in Australia continue to put consumers at risk.
In a conversation with Rob Isbitts, investment expert Matthew Tuttle discusses the selfishness problem on Wall Street and how ETFs have solved it. They also explore the potential for levered and inverse ETFs, the value of active management in finding alpha, and the importance of hedges, edges, asymmetry, and themes in investing. Tune in to learn more about Tuttle's unique perspective on the market.
Anand Mahindra, the esteemed Indian business tycoon, has once again displayed his admiration for India's first armless archer, Sheetal Devi, by gifting her a customized Mahindra Scorpio-N. At only sixteen years old, Sheetal has made history by winning a bronze medal at the Paris Paralympics last year and has continued to impress at various competitions, including the Asian Para Games. Mahindra was struck by her extraordinary skill and determination, and was moved to gift her with a symbol of her identity as an archer. This act of kindness has once again brought attention to Sheetal's inspiring journey and serves as a reminder of the power of resilience and determination.