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According to industry body Society of Indian Automobile Manufacturers and Automotive Component Manufacturers Association of India, with demand continuing to be low and factories not operating at full scale, this may lead to temporary excess overheads.
Amid layoffs and a severe cost-cutting, Twitter has closed offices in Delhi and Mumbai and asked staff to work from home, according to sources. The micro-blogging platform's Bengaluru office that largely has engineering staff remains operational, the sources said. The Delhi and Mumbai offices shuttered a few weeks ago, with remaining staff now working from home, sources privy to the matter said.
HS Prannoy, who occupies the 8th spot, is the best ranked Indian in the men's singles while Lakshya Sen and Kidambi Srikanth are placed 19th and 20th respectively.
Arjun Mohan, CEO of India operations of Think and Learn, which owns Byju's brand, has resigned from the beleaguered firm, which on Monday also announced a business rejig consolidating its operations into three verticals. Mohan had joined Byju's in July last year as the CEO for international business after quitting rival UpGrad in February as CEO. Later, he was given charge of India operations in September after Byju's then CEO Mrinal Mohit resigned. After taking over the charge, Mohan undertook restructuring of the organisation which led to layoffs of around 4,000 employees at Byju's.
India's largest edtech firm Byju's will fire 1,000 employees in a fresh round of layoffs across departments. With the latest round, total job cuts at the company have mounted to around 3,500. According to sources, fresh job cuts are an attempt by the company to improve its finances and work towards a path to profitability.
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."
IMAGES from Day 5 of the Wimbledon Championships, at the All England Lawn Tennis and Croquet Club, London, on Friday.
For DC, the onus will be on Prithvi Shaw and veteran Australian David Warner to provide a solid start.
Indian women shuttlers' progressed to their first-ever final at the Badminton Asia Team Championships after edging out two-time former champions Japan 3-2.
In 2024 so far, 20 startups have already visited the campus with 80 placements.
Kidambi Srikanth, Priyanshu Rajawat and Kiran George won their respective men's singles round-of 16 matches to advance to the quarterfinals late on Thursday night.
The Indian IT services sector may see up to five per cent layoffs -- amounting to more than one lakh job cuts -- over the next six months as companies focus more on cost-cutting due to persisting weakness in global demand, experts say.
On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile.
'He cannot avoid the urgently needed medical attention any longer.'
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
Twitter has started laying off employees in India as part of a global job cut ordered by the social media platform's new owner Elon Musk to attain economies of scale and make the USD 44 billion acquisition viable.
Rafael Nadal continued his impressive return from a long injury layoff with a 6-1 6-2 demolition of wildcard Jason Kubler to reach the quarter-finals at the Brisbane International on Thursday ahead of this month's Australian Open.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
'I was so close to winning a Grand Slam. I want to make sure that my body is going to have the time it needs to come back, so please bear with me.'
The move comes barely a week after fellow crypto unicorn CoinDCX laid off 12 per cent of its workforce - an estimated 80 employees - amid challenging macroeconomic conditions and regulatory uncertainty in the sector. CoinSwitch has 519 employees, according to its LinkedIn profile. This means around 8 per cent of its workforce were shown the door.
Social media unicorn ShareChat has laid off 200 employees, around 15 per cent of its workforce, in another round of layoffs this year to reduce costs and achieve profitability within the next six quarters. In January, Mohalla Tech Pvt Ltd, the parent company of platforms ShareChat and Moj, fired 500 employees, 20 per cent of its workforce. The same month, company co-founders Bhanu Pratap Singh and Farid Ahsan also stepped down from executive roles.
KKR's most successful leader Gautam Gambhir is back in his second innings as a mentor. His partnership with head coach Chandrakant Pandit, a shrewd tactician in domestic circuit, will be the key to their revival.
Chhetri's record against the neighbours is quite impressive, scoring four goals in eight matches including a spectacular strike from a free kick in Kolkata in 2022.
BCCI accepted Bumrah's request to prioritise this important personal moment, and as a result, Bumrah flew back to Mumbai.
An young IT executive discusses how would-be employers duped him and left him without a job.
Indians laid off by the current recession tell their stories in this gripping rediff.com series.
Tiger Woods, now 48, signed his first five-year, $40 million contract with Nike in 1996, and renewed it repeatedly.
V K Harish, a senior software engineer, reveals how his company cajoled him to resign voluntarily and later didn't fulfill its promise.
V K Harish, a senior software engineer, reveals how his company cajoled him to resign voluntarily and later didn't fulfill its promise.
'Students of Tier-II and Tier III engineering colleges in the south may find 2023 to be one of the toughest years for getting jobs.'
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.
'Silicon Valley people are generally used to layoffs.' 'Every person who has been in the industry for 15-20 years would have been laid off at least 3-4 times.' 'In India, we aren't used to that concept.' 'So when it came here, people were shocked.'
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.
Decision to rest Mohammed Shami, a move Mhambrey acknowledges is not easy.
How are young Indian lives affected by the current recession? A young recruitment agent discusses the shock she experienced at being fired instead of receiving a promotion, as expected.
Their eyes trained on the big-ticket T20 World Cup in the Americas in June, the national selectors aren't finding it easy to pick just one among Rohit Sharma and Virat Kohli for the upcoming Afghanistan series.
IMAGES from the IPL match played between Rajasthan Royals and Mumbai Indians in Jaipur, on Monday.
Chief national badminton coach Pullela Gopichand on Monday singled out world number one doubles pair of Satwiksairaj Rankireddy and Chirag Shetty as favourites for an Olympic medal and said two-time medallist PV Sindhu too is on the right path and can deliver once again at the Paris Games.
Indians laid off by the current recession tell their stories in this gripping rediff.com series. A shocking chronicle of work experiences.
Kyrgios had a surgery on his left knee earlier this year and lost in his comeback match after a five-month layoff against China's Wu Yibing
