BUSINESS
Swiggy lays off 380 employees as food delivery growth slows
"While we'd already initiated actions on other indirect costs like infrastructure, office/facilities, etc, we needed to right-size our overall personnel costs also in line with the projections for the future. Our overhiring is a case of poor judgement, and I should've done better here," he added.
SEBI raids market experts' cronies for front-running
The raids comprising search and seizures were carried out at the homes and offices of around half a dozen entities reportedly engaged in front-running based on illegally obtained market information for profits. The SEBI sleuths swooped at multiple locations in Pune, Kolkata, NOIDA and Jaipur
Job cuts deepen at chip-maker Intel, set to be completed by Jan 31
According to an official filing posted by the state Employment Development Department, the company has listed the elimination of about 201 jobs in Santa Clara by January 31. The company in December anticipated it would be reducing 90 jobs in Santa Clara. The latest information shows "that number has more than doubled and that Intel now plans to eliminate 201 jobs".
SC ruling limited to interim relief, didn't decide merits of our appeal: Google
A company spokesperson said in a statement that the decision "is limited to interim relief and did not decide the merits of our appeal". "Android has greatly benefited Indian users, developers, and OEMs and played a key role in India's digital transformation. We remain committed to our users and partners and will cooperate
US hits debt ceiling, Treasury Department takes 'extraordinary measures'
Treasury Secretary Janet Yellen announced in a letter to House Speaker Kevin McCarthy that her department would put the temporary brakes on new investments in a few government retirement funds, from Thursday until June 5. Those include the Postal Service Retiree Health Benefits Fund and a couple of others, Xinhua news agency reported.
Union Budget 2023 might be presented in new Parliament building
According to sources, the construction work for the new Parliament House is almost complete and is expected to be ready by the end of January. Therefore, preparations have also started for the upcoming Budget session to be held at the new Parliament building.
Global PC shipments fell 28% in Q4 of 2022: Report
According to Counterpoint Research, the macroeconomic headwinds, increasing inflation pressure, and frozen PC demand affected the global PC market in 2022. Lenovo continued to lead the market in Q4 2022 but with a flattish 23.7 per cent share. Its shipments declined 17 per cent (year on year) in 2022 to take a 23.7 per cent market share.
Indian startups hail SC ruling on Google-CCI case
Google had moved the apex court after the setback at the NCLAT, which did not stay the CCI order on abuse of dominant position in multiple markets in the Android mobile device ecosystem case. Rohan Verma, CEO and ED at homegrown MapmyIndia said that they are extremely grateful to the Supreme Court for their order against Google's appeal.
Indigo tops with 54.9% market share, Vistara, Air India second with 9.2%
As per the latest data of December of aviation regulator DGCA, Indigo carried 69.97 lakh air passengers during the month while Vistara and Air India carried 11.70 lakh and 11.71 lakh air passengers. Go Air, with 9.51 lakh air passengers, had a market share of 7.5 per cent during December.
Elon Musk to lay off more Twitter employees
About 50 employees in the company's product organisation are set to be let go in the coming weeks, reports Business Insider, citing sources. Hundreds of workers in Twitter's advertising, trust and safety, and monetisation departments were laid off two weeks ago, and layoffs in Singapore and Australia occurred just last week.
Don't Miss
Advertisement