Facebook's parent company Meta announced on Tuesday it will fire another 10,000 people, implementing a second round of jobs cuts after it slashed 11,000 positions in November last year, to improve its financial performance in a "difficult environment". Meta founder Mark Zuckerberg said in a post that overall "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired." The company has said that in its "Year of Efficiency", the company aims to make itself "a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision."
'We want to achieve overall profitability, and then we would go for an IPO.'
The institute has bagged 179 pre-placement offers so far, with the highest domestic offer at Rs 64 lakh per annum.
'The pressure on relative performance and the feeling of being left out among many investors may also account for the belief among many that this has to be a technology stock bubble.' 'The feeling of a bubble is also reinforced by the extreme performance gap between growth and value investing.' 'While at first glance, one can only stand back awestruck by the wealth creation delivered by technology stocks globally. It does not seem at all like the internet bubble of 1999-2000, says Akash Prakash.
The amount of money Indians invested in foreign securities, property, and deposits in 2022 was likely the highest on record. At $2.1 billion, it was the largest spend for any 12-month period according to the Reserve Bank of India's (RBI's) data going back over a decade. The amount spent for each individual segment was also the highest.
Google will be able to co-relate data from the first click to the final delivery of product. This kind of knowledge is invaluable, something which even Amazon does not have.
On his three-day trip, the Microsoft CEO will meet governments and businesses to get them to use the company's platforms.
IT, e-commerce firms to raise the bar in recruitment, packages.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
Google boss's absence at US-China internet forum meet raises eyebrows.
Reliance Industries Ltd, the country's largest company by revenues, profits and market value, has topped Indian corporate in the World's Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer and Intel. Other Indian names in the top 100 rankings were ICICI Bank at 65, HDFC Bank at 77 and HCL Technologies at 90, according to the Forbes ranking.
Amid mass layoffs in the tech sector, the federal agency for immigration services has said it is wrong to assume that sacked workers holding the much-sought-after H-1B visas have to leave the country within 60 days, asserting they have multiple options to stay in the US. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
Hiranandnani's new venture is well-timed, but it will face heavy competition from both international majors and domestic peers like Adani Group.
Their startup investments number 13 so far, compared to 17 deals in 2020.
The Microsoft chief's comments come in the wake of Bill Gates' call for levying taxes on robots that take away jobs from people.
The tech creators, or the ones who made billions, asks Ajit Balakrishnan.
172 firms participated in the final placement process.
Start-up entrepreneur Aashish Gupta who founded YellowLeg.com that sells only travel books to "discerning traveller" talks about life as a start-up and challenges he faced.
Udaan - India's largest business-to-business (B2B) e-commerce company - has laid off about 180 employees, or 4-5 per cent of its workforce of 4,000, in a move to drive cost efficiency, revealed sources. They said the layoffs have happened across various department functions. The layoffs have happened at a time when the Bengaluru-based firm is trying to turn into a publicly listed entity in 18-24 months.
Its latest member is a Frenchman. Bernard Arnault's fortune is now estimated at $100.4 billion.
Bezos wears it on his sleeve, Nadella keeps it quiet
Together with the firm's partly-paid shares that were issued in the recent rights issue and are traded separately, the company had a combined m-cap of Rs 13.5 lakh crore or over $181 billion.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
India's tech start-ups are following Silicon Valley's lead and embracing the "fail fast" culture.
Fadnavis had a series of very productive meetings with American CEOs
Your weekly shot of wisdom from super achievers
As India builds its data centre capabilities, it is imperative that it is supported by green energy. This is because data centres are guzzlers of energy.
Another report by Oxfam had found that eight billionaires, including Bill Gates, from around the globe have as much money as the 3.6 billion people who make up the poorest half of the world's population.
Surprisingly, Jeff Bezos is the new entrant to the list and ends up holding the first position.
Companies today are taking a very fashionable way to reduce their workforce. Instead of the outright firing of employees, an alternative approach that some companies are using is the passive-aggressive method which is both deliberate and accidental, points out corporate lawyer Ishanee Sharma.
In just two years, Bank Bazaar.com was chosen as one of the 'Hottest Startups' in India.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries
There are really three parts to this answer: getting the right experience, creating a good resume, and submitting it the right way.
Mountain View baed search engine giant launches Google Nexus 4 smartphone, Nexus 10 tablets with price tags that could start a new price war among the likes of Apple, Samsung and Amazon.
IIT Kharagpur gets more than 1,000 job offers in a record five days, with 144 companies visiting the campus till Dec 5
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
IIM Lucknow has concluded its 2020-21 final placements.
It will be exclusively available on Amazon.
These include Microsoft's Satya Nadella, Mastercard CEO Ajay Banga, and Harman International Chairman Dinesh Paliwal.
Total of 11 private Indian firms have made it to the list of 500 most valuable companies across the world, and the country is ranked 10th on the chart, as per a report. The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. All these companies in the list of non-state enterprises have gained in value during 2020, which was hit by the pandemic, barring tobacco major ITC and second largest private sector lender ICICI Bank, as per the 'Hurun Global 500' report.
