Dunzo, dunzo salary delay

Quick-commerce player Dunzo is struggling not only with financial losses but also with keeping its operations afloat

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Job search engine ZipRecruiter has announced to reduce its global headcount by approximately 270 employees, which represents approximately 20 per cent of the company's total number of employees

Layoff

The Detroit automaker did not immediately respond to a Reuters request for comment. GM shares were up about 2.5% to $33.86

lay-offs

This is the second upGrad arm to have recently laid off staff. Last December, Harappa Education, which upGrad had bought for Rs 300 cr in July 2022, let go of 70 people

The executive had taken a high-profile role at Zoom during his short tenure, appearing on earnings calls and overseeing the company's sales operation

Twitter

Another 200 staffers fired in fresh round of job cuts

Twitter, Micro-blogging platform

The job cuts impacted multiple engineering teams, including those supporting advertising technology

Microsoft

A total of 617 workers were laid off in the Seattle area, according to a notice filed with the state

Support and empathy on sites such as LinkedIn and a market that is still hiring are softening the blow

Professional networking platforms, such as LinkedIn and Grapevine, were full of stories of layoffs

The 'scariest economics paper of 2022' has warned that a high unemployment rate will be necessary to combat inflation and to bring it down to 2%

Falling valuations, slowing funding rounds add to woes; move aimed at conserving cash and shore up profitability

Volkswagen

Volkswagen sees no need for a 4-day week at its plants to secure jobs despite a growing shift to electric cars that are easier to build and require fewer workers, the head of labour relations said

coke, coca cola

Half of Coca-Cola's sales come from stadiums, movie theaters and other places where people gather in large numbers venues that have been closed during the coronavirus pandemic

hackers

Hackers disguised as HR are sending lay-off emails to employees amid the pandemic, pushing malware into devices, accessing data and entering networks of organisations once attachments are clicked open

IT layoffs

The entertainment and leisure sector is the most affected so far, Challenger said

zomato

Zomato had laid off 541 employees across its customer, merchant and delivery partner support teams earlier this month

chart

Communicating with employees is the key to easing pain as downsizing cycle sweeps IT

Stocks to watch on Thursday, September 28 2023: Telecom stocks too may see some action after Trai data for July showed considerable new subscriber additions for Jio and Airtel; and loss of market shar

BSE, stock market, sensex

Closing Bell on September 28, 2023: 
Tech M, which sank 4 per cent, was the top laggard on the benchmarks after Morgan Stanley downgraded the stock to 'underweight'

bulls, bears, markets, sensex

Vedanta Ltd.'s parent, Vedanta Resources, will remain the holding company, the people said. Deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made

Vedanta refinery

As markets anticipate inclusion of the debt in other indexes, including the Bloomberg Global Aggregate, the flows could rise to $50 billion by the end of next year

ICICI Bank

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

current account deficit

A seven-judge bench of the Supreme Court, headed by Chief Justice D Y Chandrachud, will  reconsider the apex court's 1998 verdict granting MPs and MLAs immunity from prosecution for taking bribe to make a speech or vote in Parliament and state legislatures.
A notice, uploaded on the apex court website, said the bench will hear the matter on October 4.
"Constitution Bench comprising the Chief Justice of India, Justice A S Bopanna, Justice M M Sundresh, Justice Pamidighantam Sri Narasimha, Justice J B Pardiwala, Justice Sanjay Kumar and Justice Manoj Misra is constituted to hear criminal appeal no. 451/2019 titled Sita Soren vs Union of India on October 4 (Wednesday)," the notice said.
Nearly 25 years after the JMM bribery scandal rocked the country, the apex court had on September 20 agreed to reconsider its 1998 judgment, saying it was an important issue having a significant bearing on "morality of polity".
A five-judge bench of the apex court had decided to refer the issue to a ..

Supreme Court rules that Benami law cannot be applied retrospectively, says Supreme Court.

Supreme Court, Benami Act

Analysts said a fresh uptick in US treasury yields is making investors jittery amid rising concerns over inflation and high interest rates while FIIs continue to offload shares in local equities

market, stocks, stock market trading, stock market

With Indian aviation staring at a potential scramble for pilots, airlines such as Akasa can feel deflated

Akasa Air

The Bihar government on Monday announced the launch of 'Mukhyamantri Alpsankhyak Udyami Yojna' for unemployed youths from the minority community.
The decision was taken at a cabinet meeting chaired by Chief Minister Nitish Kumar here following a proposal by the industry department.
Talking to reporters, S. Siddhartha, additional chief secretary (cabinet secretariat), said, "With an aim to promote industrial development and generate employment among unemployed minority youths, the cabinet decided to launch 'Mukhyamantri Alpsankhyak (minority) Udyami Yojna (MAUY). The scheme will be implemented on almost similar lines of the existing Mukhyamantri SC/ST/EBC Udyami Yojana, Mukhyamantri Mahila Udyami Yojna (MMUY) and the Mukhyamantri Yuva Udyami Yojana (MYUY)."
"Under this scheme, the Bihar government will provide Rs 10 lakh to an unemployed minority woman or man to start a new industry. Of Rs 10 lakh, Rs 5 lakh would be subsidy, while the rest would be loan, to be returned in ...

Layoffs, Jobs, Unemployment

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Weak demand, global slowdown add to their woes

Crude oil

UCBs that aspire to become SFBs do not want the same limits on loan size and priority sector targets that SFBs have, especially when not many of them have sought to become SFBs

Chart

Congress MP Rahul Gandhi on Thursday visited New Delhi's furniture market and interacted with carpenters

Rahul Gandhi at furniture shop

Reducing transaction time beyond a certain threshold may not enhance equity market quality. On the contrary, it could reduce participation and diversity and harm the markets

equity market

Supercross India Pvt Ltd, the parent firm of CEAT Indian Supercross Racing League, on Thursday said it plans to invest Rs 150 crore in the next three years.
The investment will be towards creating racing infrastructure, grassroots development and ensuring that world-class events across India are held in the next three years, the company said in a statement.
"This financial commitment will empower us to implement state-of-the-art technologies and infrastructure, ensuring that our league stands head and shoulders above all other global Supercross events," Supercross India Pvt Ltd co-founder and Director Veer Patel said.
CEAT Indian Supercross Racing League (ISRL) is gearing up for its first season, which is set to take place in December 2023, the statement said.
Initially, it had planned to start the season in October but was pushed back due to a scheduling conflict with the ICC Cricket World Cup, it said, adding the first season of the league will have races at different venues, and

rupee, loan, indian rupee

How the rise of nuclear families in business transformed succession

Isha Ambani, Mukesh Ambani

Saregama, the country's oldest music label company owned by the RP-Sanjiv Goenka Group, on Thursday announced the acquisition of a majority 51.8 per cent stake in Pocket Aces Pictures, the youth-focussed digital content creator and publisher, for Rs 174 crore in an all-cash deal.
The over 100-year-old Saregama, which was formerly known as The Gramophone Company of India, will also be picking up an additional 41 per cent in the fast-growing digital entertainment company over the next 15 months, the RPG Group statement said, adding the transaction completed is an all-cash deal.
Pokcet Acers owns direct relationship with over 95 million younger digital-first customers across Instagram, Youtube, etc and boasts of an IP catalogue of over 3,000 content pieces ranging across web series, sketches, music videos and reels on its channels Filtercopy, Nutshell and Gobble, and releases over 30 new pieces of content every day.
Its talent management arm, Clout, manages over 100 digital influencers

lay-offs

Endless troubles: What is happening at quick commerce platform Dunzo?

Job search engine ZipRecruiter lays off 20% of global workforce

General Motors lays off several hundred full-time contract workers

upGrad subsidiary Campus lays off 30% of workforce amid funding crunch

Zoom abruptly fires president Greg Tomb 'without cause': Report

'Hard work was a mistake', Twitter employee regrets after being fired

Twitter fires at least 50 in relentless cut on costs, says report

Microsoft cuts jobs in HoloLens, Surface, Xbox as layoffs continue

In layoff season, social networks are stepping up to help ease the anxiety

Amazon, Goldman Sachs employees flood social media with layoff news

'Scariest economics paper of 2022' forecasts huge lay-offs over next 2 yrs

Cars24 to Vedantu, start-up lay-offs accelerate on capital crunch worries

Volkswagen's labour chief says no need for four-day week to save jobs

Coca-Cola offers buyouts to 4,000 US workers, plans to streamline operation

Hackers posing as HR staff are sending lay off emails to attack firms

US companies announced 633 layoffs related to coronavirus outbreak so far

Medikabazaar offers to hire around 200 recently laid-off Zomato employees

Build trust in face of lay-offs