The reopening of schools and colleges has sparked a crisis in the edtech sector with falling valuations, slowing funding rounds and faltering investor sentiment. In a totally altered, post-pandemic landscape where students are back at school and colleges, companies are scrambling to revert to bricks-and-mortar tuition centres and adopting a hybrid model of offline and online education. Demand for online tuition has fallen, affecting the revenue of edtech companies in recent months. After two years of booming revenues, some experts say the sector is looking at a possible meltdown.
Summary of sports events and persons who made news on Monday.
At this point, it is crucial to think of solutions that will help flatten the curve and also generate income, says Pratyush Banerjee.
Raducanu stormed into the third round of the Cincinnati Open
Unacademy may see a funding dry spell for at least next 12-18 months and even last till 24 months and will cut costs to weather the lean period, said the chief executive of the education technology unicorn that recently laid off more than 600 employees. "This is a test for all of us. We must learn to work under constraints and focus on profitability at all costs. We must survive the winter," said Unacademy's co-founder and CEO Gaurav Munjal in a letter to the employees. "Winter is here. We are looking at a time when the funding will dry up for at least 12-18 months.
All eyes were on the 131-year-old club Mohun Bagan as they were making their ISL debut following their 'marriage' with three-time defending champions ATK.
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According to Unite the Union, which represents the bank's staff, around 60 back-office roles are to be moved to India.
Four Tech Mahindra employees approached the labour commission in Karnataka
The layoffs will be restricted to the Indian business.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
Kohli seemed delighted to see his India teammate make an excellent return after a long injury layoff.
The outbreak and lockdown have thrown up a number of challenges, such as layoffs, pay cuts and a general slowdown. Many subscribers after their unsuccessful attempts to use the scheme have taken to social media to voice their complaints, as the EPFO website and grievance portal suffer outages and its customer helpline remains unreachable.
The current Federal rules require an H-1B visa holder to leave the US along with family members within 60 days of losing his job. The H-1B visa holders have started a petition campaign on the White House website to extend the timeline for their stay in the US to 180 days after they are being laid off.
An impulsive decision to resign could eventually turn out to be a big career mistake, warns Srividya Kannan.
As the start-up ecosystem undergoes revenue losses and client attrition, 5paisa.com had a good quarter recently in terms of client addition and continues the streak of business growth in the April-June period so far.
The layoffs will mainly be in the company's product and engineering functions.
Langer's side secured their spot in the last four with a 64-run win over hosts England at Lord's on Tuesday and return to the famous north London ground on Saturday to face neighbours New Zealand in their penultimate round-robin tie.
Twitter's India-born CEO Parag Agrawal has told worried employees that he doesn't know "what direction this company will go in" once the whopping $44 billion deal, which will take the social media giant private, closes with new owner billionaire Elon Musk.
Kasam Shaikh is the fifth person in India and first from Maharashtra to receive the award for Microsoft Most Valuable Professional title in Artificial Intelligence.
The company has not detailed out the geographies that would be impacted by the reductions. However, given that India accounts for the biggest share of the company's headcount, the impact of these layoffs is expected to be significant.
In a statement, Gandhi urged Prime Minister Narendra Modi and the government to increase the number of testing facilities across the country and make public the details of hospitals and medical facilities through a dedicated portal.
'Young professionals should be open for jobs in adjacent industries, pick up a contract job to have an opening balance, develop skills in the job in hand, invest in learning and develop cognitive skills and capacities.' 'Spend as per the need only.'
Last week, the carrier had asked about 60 pilots who had resigned to leave after serving only half the six-month notice period.
Management guru Virender Kapoor tells you just what you need to do!
'We didn't know where the story was going. But I knew I was telling the story of an extremely lonely journalist.'
The Tiger Global-backed company says the layoffs would affect all teams.
The task force, to be headed by Finance Minister Nirmala Sitharaman, will look at measures to limit economic hardship caused by the Covid-19 pandemic, he said in his address to the nation.
'With the amount of workload nowadays, it's very, very difficult'
With an aim to save costs in troubled economic times, just 10 companies together have announced nearly one lakh job cuts worldwide since start of 2012 and they include giants like HP, Google and Citigroup.
Anderson sustained a rib injury in England's 189-run win in the second Test at Newlands and underwent an MRI scan in Cape Town.
Suggesting that layoffs in the information technology and business process outsourcing industry are still less than 1 per cent of the total workforce, top National Association of Software and Service Companies executives have said that the industry has not yet come in the grip of large-scale layoffs.
The company, which is part of tech giant Microsoft, has about 1,200 employees in India. It, however, did not comment on the impact of the job cuts on its India operations.
Murthy also said this is not for the first time that the industry has faced the layoff problem and hence there should not be any extreme anxiety as the industry had dealt the issue and found solutions then.
Job cuts announced by US employers fell for the fourth consecutive month in May to over 1,10,000, recording a 16 per cent dip from layoffs announced in April, but the decline could be shortlived as downsizing may pick up pace after the summer months, a report has said.
As part of a cost-cutting plan, the bank is now dismantling its stock broking, equity research, and equity listing desks worldwide.
From cloud computing to people analytics, most lucrative future jobs will be dominated by people with digital skills and expertise, explains Sarita Digumarti, chief learning officer, UNext Learning.
IMAGES from Day 2 of the US Open played at Flushing Meadows in New York on Tuesday.
While you cannot avoid the delay in payments from your customers, you must come up with new ideas on building your internal cashflow system to ensure that the cash crunch within the organisation is minimal, suggests Naval Goel.
Virat, Ishant set to return for England series starting Feb 5 as selection for first two Tests takes place on Tuesday.
India's top tennis players Yuki Bhambri, Prajnesh Gunneswaran and Divij Sharan returned to the courts after over two-and-a-half months.
