Business

Byju’s misses deadline to clear dues of laid-off employees
21 Nov

Byju’s misses deadline to clear dues of laid-off employees

Priyanka Bhowmick0 CommentsBusiness, India,
According to a report, crisis-hit Byju's has again missed a deadline for full and settlement of employees laid off by the edtech company. The company had earlier postponed the final payment date from September to November. According to the report, 60 of the fired employees have been contacted by Byju's. Of the 48 people who responded, 40 said they had not received the full and final settlement that was promised to reach them by November 17. Of the 8 employees who received their full and final settlement, about 2-3 did not receive their variable pay or incentives, it said. Byju's…
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Citigroup slashes 300 senior management roles
21 Nov

Citigroup slashes 300 senior management roles

Priyanka Bhowmick0 CommentsBusiness, India,
Citigroup Inc. is eliminating more than 300 senior manager roles as part of CEO Jane Fraser's efforts to simplify the Wall Street giant. On Monday, the company began announcing cuts — which affect those employees below Fraser's executive management team at two levels, according to a person familiar with the matter. They made up about 10% of employees at that level, according to the person who told employees not to be identified for discussing the information. "Today we shared with our colleagues the next level of change across many of our businesses and functions as we align Citi's organizational structure…
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WhatsApp to soon roll out a shortcut to open AI-powered c
20 Nov

WhatsApp to soon roll out a shortcut to open AI-powered c

Priyanka Bhowmick0 CommentsBusiness, International,
WhatsApp is reportedly all set to introduce an AI chatbot to its instant messaging platform, and the latest beta version of the app includes a special button for convenient access to the feature. As noted in the WABetaInfo report, the Chat tab now has a button above the icon to start a new chat. This button facilitates quick opening of AI-powered chats, increasing speed and convenience for users. The AI ​​chatbot powered by Meta AI was unveiled by Mark Zuckerberg, CEO of WhatsApp's parent company Meta, in September. He revealed that the company is testing AI-powered chatbots for a specific…
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Physics Wallah lays off around 120 employees
20 Nov

Physics Wallah lays off around 120 employees

Priyanka Bhowmick0 CommentsBusiness, India,
Edtech unicorn Physicwallah let go about 120 employees after a performance review, in what comes as the first instance of layoffs at a company that earned a unicorn tag last year. "At PW, we regularly evaluate performance through mid-term and end-term cycles. For the cycle ending in October, 70 to 120 individuals—less than 0.8 percent of our workforce—with performance concerns may be asked to transfer…, ” said Satish Khengre, CHRO, PW, in a statement. Entrackr first reported the development that a cost-cutting exercise within the company had initiated layoffs. Physicswallah follows a series of other Indian edtech companies, including Byjus,…
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IndiGo surpasses milestone of 2000 daily scheduled flights
18 Nov

IndiGo surpasses milestone of 2000 daily scheduled flights

Priyanka Bhowmick0 CommentsBusiness, India,
IndiGo is the first Indian carrier to have more than 2,000 scheduled or planned flights daily. The Rahul Bhatia-founded airline, which started flights on August 4, 2006, became the first Indian carrier in December 2017 to operate 1,000 flights a day, taking more than 11 years for the budget carrier to reach that milestone. The second 1,000 came much faster in just six years, despite the bitter feud between the airline's two founder-promoters and then Covid in this period. The airline has been able to benefit from the tailwind of the fact that India has seen a rapid recovery in…
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Google Photos gains generative AI
17 Nov

Google Photos gains generative AI

Priyanka Bhowmick0 CommentsBusiness
Google Photos, the popular gallery app used by millions worldwide, often gets new features that improve the overall user experience The tech giant is now rolling out two new AI-powered features that help reduce clutter and categorize screenshots and documents into albums. If you're someone who takes a lot of photos, your photo gallery can often be cluttered with similar images like sunsets or group photos. Google is introducing a feature called 'Photo Stacks' which aims to solve this problem. The new AI-powered feature automatically detects and groups similar photos and organizes them into piles. It also selects the top…
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Apple to enable more texting features between Android & iPhones
17 Nov

Apple to enable more texting features between Android & iPhones

Priyanka Bhowmick0 CommentsBusiness, India,
iPhone users are now set to be friends with Android users on iMessage, as Apple has announced its decision to adopt the Rich Communication Services (RCS) messaging standard. This move paves the way for a unified messaging experience across the platform, allowing Android users to enjoy the full suite of iMessage features. Apple made the strategic decision to integrate the RCS messaging standard into its messaging platform in response to the European Union's Digital Markets Act and regulatory pressure from competitors such as Google and Samsung, 9 to 5 Mac reported. Apple will implement the feature in late 2024 through…
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Vedanta Group established new unit in Saudi Arabia for copper business
16 Nov

Vedanta Group established new unit in Saudi Arabia for copper business

Priyanka Bhowmick0 CommentsBusiness, International,
Vedanta Group on Wednesday said it has set up a new copper unit in Saudi Arabia through its subsidiary Malco Energy Ltd for SAR (Saudi Riyal) 1,00,000. The new unit has been named Vedanta Copper International VCI Company Limited, the company said in an exchange filing. In September, Vedanta's board approved a plan to split the business into six separate listed companies. On August 25, Vedanta chairman Anil Aggarwal said the group was considering listing all or some of the businesses separately based on feedback from advisers. He also said that listing different businesses separately would help in "pure play"…
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Elon Musk denies Starlink IPO report
16 Nov

Elon Musk denies Starlink IPO report

Priyanka Bhowmick0 CommentsBusiness,
Elon Musk on Wednesday denied a report that his rocket company SpaceX is discussing an initial public offering (IPO) for its satellite internet business, Starlink, as soon as 2024.He called it "false" in response to a post on social media platform X that shared a Bloomberg News report that SpaceX is moving the unit's assets to a wholly-owned unit that will eventually be shut down.The billionaire entrepreneur had previously said he wanted to list Starlink when revenue growth and cash flow became smooth and predictable. Earlier this month, he said Starlink had achieved a cash-flow breakeven. SpaceX is worth an…
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Tata Steel cuts 800 jobs in the Netherlands
14 Nov

Tata Steel cuts 800 jobs in the Netherlands

Priyanka Bhowmick0 CommentsBusiness, India,
Tata Steel's Dutch division said on Nov. 13 that it would cut about 800 jobs at its IJmuiden plant in an effort to boost profitability. Tata currently employs about 9,200 people in IJmuiden on the Dutch coast, 30 kilometers (19 mi) west of Amsterdam. "Despite all efforts by Tata Steel to improve its market position and reduce costs, more needs to be done," the company said in a statement. "Also in light of the transition to a cleaner company, where significant investments have been made and will be made." The restructuring would mainly affect managerial and support staff, and was…
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