After a recent fall in profit, Masayoshi Son of SoftBank announced that the Japanese tech investor will look at dramatic cost-cutting. Before he does that, investments in India for calendar year 2022 (CY22) will fall radically, observed sources in the know. Last year, the company had invested around $3.2-3.5 billion in the Indian start-up ecosystem - almost 10 per cent of the total investment the sector received. For CY22, the investments may not even touch $1 billion.
When it comes to losing a job permanently, the youngest and the oldest segments in the workforce have reported an increase in setbacks in the second wave of the pandemic, a survey of by a Fortune500 company has said. The survey, conducted in April this year, covered 2,000 persons in India. Six per cent of those over 55 years of age reported having permanently lost their job, as against 4 per cent last year. In those aged under 24, the proportion reporting a permanent job loss has increased to 11 per cent from 10 per cent in the year-ago period, the survey done by financial technology company FIS said.
Given the region's already higher unemployment rates, compared to national averages, it would be difficult to find alternative jobs.
Most of Australia's players have had scant preparation for the Twenty20 World Cup but captain Aaron Finch said his underdone squad can still bring the trophy home for the first time.
All of the 56 impacted associates, eight in the senior management and 48 in the middle as well as lower management, have been offered enhanced severance benefits and out placement services to support their transition, the company said.
TCS will have to deliver higher revenues in the succeeding quarter of FY15.
There is some good news for the injury-hit Australian cricket team as opener Shaun Marsh is likely to be fit for the upcoming Test series against India and might even play the two warm-up matches before that.
As one of India's topmost animation companies lays off its employees, a senior employee talks about what went wrong, and raises the question: Should your children join the animation industry?
Croatian Borna Coric saved six match points as he rallied from 5-1 down in the fourth set to stun Stefanos Tsitsipas 6-7(2), 6-4, 4-6, 7-5, 7-6(4) and send the fourth seed tumbling out of the US Open in the third round on Friday.
Four-time Olympic champion Simone Biles has finally broken her silence on the year-long postponement of the 2020 Tokyo Olympics and said on Wednesday that while the news left her in tears it was the right call.
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
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.
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.
Summary of sports events and persons who made news on Monday.
The 44-year-old Masters champion last competed on the PGA Tour in mid-February.
As part our series on dealing with the pink slip, we spoke to financial planner Sridhar Vetapalem on how to get your finances in order.
Dhruv Gupta, Fitness Expert and Founder of weight loss programme, FitHo.com tells you just how!
StanChart starts retrenching staff in India.
StanChart to hand over pink slips to its employees in India too.
Beverages giant Coca-Cola will cut jobs in India as part of its "redesigning operating model" globally to accelerate business growth across markets.
At this point, it is crucial to think of solutions that will help flatten the curve and also generate income, says Pratyush Banerjee.
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.
As part our series on dealing with the pink slip, we spoke to Nirmal Singh, the founder and CEO of Wheebox, a prominent talent assessment company.
This will be done to meet the massive demand that Flipkart expects during the festive season
'We didn't know where the story was going. But I knew I was telling the story of an extremely lonely journalist.'
An impulsive decision to resign could eventually turn out to be a big career mistake, warns Srividya Kannan.
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.
Kohli seemed delighted to see his India teammate make an excellent return after a long injury layoff.
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.
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.
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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.
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.
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.
Four Tech Mahindra employees approached the labour commission in Karnataka
IMAGES from Day 2 of the US Open played at Flushing Meadows in New York on Tuesday.
The layoffs will be restricted to the Indian business.
'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.'
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.
