India

Toyota Kirloskar Motor to invest INR 3,300 cr to set up third plant in India
22 Nov

Toyota Kirloskar Motor to invest INR 3,300 cr to set up third plant in India

Priyanka Bhowmick0 CommentsBusiness, India,
Toyota Kirloskar Motor (TKM) has announced plans to invest Rs 3,300 crore in a new manufacturing unit in Bidadi district near Bangalore in Karnataka. The new facility is part of Toyota's strategy to expand its manufacturing capacity in India and is expected to be operational by 2026. This investment will increase Toyota's total investment in India to around Rs 20,000 crore The new assembly line will be dedicated to the production of vehicles based on the TNGA-C platform, including an SUV model. The expansion will bring Toyota's annual production capacity in India to 4 lakh vehicles. The move is aimed…
Read More
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…
Read More
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…
Read More
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,…
Read More
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…
Read More
Amazon cuts ‘several hundred’ jobs in Alexa division
18 Nov

Amazon cuts ‘several hundred’ jobs in Alexa division

Priyanka Bhowmick0 CommentsSikkim
Amazon is cutting jobs in the Alexa division and laying off "several hundred" employees. Those to be laid off will include employees working in the artificial general intelligence team. The development comes a week after the company cut jobs in music and gaming divisions as well as some human resources roles. Daniel Rausch, Amazon's vice president of Alexa and Fire TV, informed the team of the layoffs on Friday (Nov. 17). He said the company is going to focus its resources on generative AI Read his letter to employees:Team,We’re really encouraged by the progress we’re making with Alexa: customers are…
Read More
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…
Read More
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…
Read More
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…
Read More
Amazon cuts jobs in gaming division
14 Nov

Amazon cuts jobs in gaming division

Priyanka Bhowmick0 CommentsBusiness, India,
Amazon is laying off more than 180 employees in its games division, as the company shuts down its Crown channel that streams on Twitch, shuts down its game growth efforts that help game creators market their products, and it "realigns" with its free games. Focus" offered through Prime Gaming. Amazon is getting rid of its gaming content channel amid broader game cuts, according to a memo sent to employees by Amazon Games VP Christoph Hartmann and seen by The Verge. "After further evaluating our business, it became clear that we need to focus our resources and efforts on delivering great…
Read More
Like Us
Follow Us
Subscribe Us
Follow Us