The layoffs are expected to be across different locations and businesses. Sources said the number of possible lay-offs could be close to 800.
Close on the heels of reducing the tariff for international bandwidth, the Telecom Regulatory Authority of India on Thursday slashed tariff for domestic bandwidth (domestic leased circuit) between 3 to 70 per cent, a move which would boost broadband
Left-arm spinner Hosein took five for 11 from his four overs after opening the bowling.
Wayne Rooney was involved in every goal as Manchester United beat struggling Hull City 3-1 on Sunday to slash Chelsea's lead to two points in the Premier League. The result lifted champions United back ahead of Arsenal, who defeated fourth-placed Aston Villa 3-0 with Spain midfielder Cesc Fabregas coming off the bench to score two second-half goals, into second place.
Jet has proactively undertaken certain operational adjustments to its flight schedule, keeping in mind the likely, yet interim non-availability of some aircraft in its fleet in the foreseeable future.
Moody's Investors Service on Wednesday slashed India's growth projection to 9.6 per cent for the 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter.
Some experts say that if there is a perception that the industry you are working for is likely to suffer in this meltdown, banks may want to reduce their exposure to you on a war-footing, something employees in financial, automobile and business process outsourcing sectors discovered last year.
Mahanagar Telephone Nigam Limited slashes local and STD roaming tariffs, abolishes monthly rental for roaming for Delhi subscribers.
Images from the T20 World Cup semi-final between Afghanistan and South Africa, at the Brian Lara Cricket Academy ground in Trinidad, on Thursday.
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
The price cuts by Coke and Pepsi follow the launch of the 200 ml size last year for Rs 5.
Gail India subsidiary Mahanagar Gas (MGL) on Friday announced a steep reduction in the retail price of compressed natural gas (CNG) by Rs 8/kg and domestic PNG (piped natural gas) by Rs 5/SCM across its licenced area. The move comes on the heels of the Centre revising the pricing methodology of domestically-produced natural gas on Thursday as proposed by the Kirit Parikh committee and following it with the new price announcement earlier in the day. In February, the city gas distributor reduced its CNG price by Rs 2.5/kg but prices are still around 80 per cent more than those in April last.
Close on the heels of public sector banks slashing their home loan rates, LIC Housing Finance, has announced a 1.75-2.25 per cent cut in its lending rates for home loans up to to Rs 20 lakh (Rs 2 million) from December 17.
Tariff value is the base price on which the customs duty is determined to prevent under -invoicing.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
Cambodia's Ly Muyleang was crowned the new Miss Teen International in Jaipur, July 7.
Anticipating weakening demand from the US market, coupled with pricing and margin pressures in the fourth quarter of the current financial year, Infosys Technologies will look at slashing variable pay-out to its employees.
Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of taxes, CII has suggested decriminalisation of GST law. Also, the applicability of prosecution provisions should not be based on the absolute amount of tax evasion but should be based on real intent to evade the taxes and a certain percentage of the tax payable, it stated.
With the fiscal deficit target staring at the government, the FY25 Budget has limited expenditure options, points out A K Bhattacharya.
The estranged husband of Suchana Seth, the AI start up CEO accused of killing her four-year-old child, on Saturday told Goa police she had not allowed him to meet their child for the past five Sundays.
The decision to decrease VAT on diesel from 20 per cent to 12.5 per cent was taken at a cabinet meeting today presided over by Chief Minister Sheila Dikshit.
"Citigroup is ramping up efforts to slash its huge technology costs, with the bank's management believing it can save significantly more than $1 billion in 2009 by integrating hundreds of systems that have been separate for years," the Financial Times has reported.
The Indian housemate on the show was rushed to hospital after he slashed his wrist.
Telecom regulator Trai on Monday recommended about 39 per cent reduction in the reserve or floor price for the sale of spectrum for mobile services, including the latest 5G offering, as it looked to match revenue expectations with the industry's paying capacity. With large swathes of spectrum remaining unsold in the last two auctions, the Telecom Regulatory Authority of India (Trai) recommended to the government for selling airwaves in all existing bands of 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz and new slots of 600 MHz, 3300-3670 MHz and 24.25-28.5 GHz. It has suggested a lower reserve price for all bands, compared to the prices proposed in the previous recommendations in 2018.
'It is in the interest of China and Pakistan to give a bad name to the Indian Army and remove AFSPA 'completely' from the north east.' 'Hopefully, better sense will prevail and the ground realities of the army countering insurgency in the north east acknowledged,' asserts Lieutenant General Prakash Katoch (retd).
IOC along with its sister PSUs, Bharat Petroleum Corp and Hindustan Petroleum Corp had from September 16 cut jet fuel rates by as much as 3.2 per cent to Rs 37,896.83 per kl.
Financial services major Barclays is to reduce its headcount by about 2,100 in investment banking and money management, as part of its cost cutting measures.The company is cutting 1,300 people from Barclays Capital, the debt-focused investment banking business, 500 from the Barclays Wealth private banking arm, and 330 in asset management business Barclays Global Investors. Overall, the cuts amount to 7 per cent of the three divisions' staff.
Hewlett-Packard plans to slash up to 30,000 jobs in the coming months, which would be one of the biggest layoffs in American corporate history, says a media report.
Suchana Seth, the chief executive officer of an AI start-up arrested by Goa Police for allegedly killing her four-year-old son, was taken to the crime scene on Friday.
Swiss banking major UBS on Wednesday said it will slash its headcount by 8,700 employees globally and expects losses to the tune of two billion Swiss francs (about $1.75 billion) in the first quarter this year.
