SpiceJet to lay off 1,400 employees to cut costs
12 Feb 2024
Budget carrier SpiceJet will cut 15 per cent jobs, reducing its workforce by around 1,400 as part of its efforts to reduce operating costs and improve investor returns.
Tata Technologies to invest Rs1,500 cr in skilling centres in Telangana
20 Jan 2024
Tata Technologies has proposed to invest Rs1,500 crore (about $1.80 billion) to back government’s efforts for setting up skilling centres in Telangana, reports citing state government sources said on Thursday.
Citigroup plans to cut 20,000 jobs globally by 2026
15 Jan 2024
US banking and financial services giant Citigroup is planning to lay off 20,000 of its workforce - roughly 8 per cent of its 239,000 global headcount by 2026, as part of a mega restructuring.
Amazon to cut jobs in Prime Video and Studio Operations
11 Jan 2024
In a significant move, Amazon.com has announced plans to lay off several hundred employees in its streaming and studio operations.
Indian IT giants employ non-compete clauses in junior staff contracts
09 Jan 2024
In a recent development, major Indian IT companies, including TCS, Infosys, Wipro, HCLTech, and Tech Mahindra, have incorporated non-compete clauses into the contracts of junior employees, spanning from 6 to 12 months.
Disney secures support from activist investor ValueAct Capital
04 Jan 2024
In a significant development, The Walt Disney Company has garnered support from ValueAct Capital, a notable activist hedge fund. This backing comes amid board challenges posed by billionaire financier Nelson Peltz.
SpaceX faces allegations of wrongful employee firings
04 Jan 2024
SpaceX, the renowned rocket and satellite manufacturer, has come under scrutiny as a U.S. labor agency accuses the company of unlawfully terminating eight employees.
Intel to lay off 235 more employees in US as it reworks strategy
23 Dec 2023
Computer chip maker Intel Corporation plans to lay off around 235 employees at its research and development facility in Folsom, Sacramento County over two weeks, as part of its ongoing efforts to cut costs.
Disney gears up for an an intense boardroom clash as activist Peltz eyes two seats
15 Dec 2023
In a significant development set to impact the entertainment giant Walt Disney, activist investor Nelson Peltz has nominated himself and former Disney Chief Financial Officer James “Jay” Rasulo for seats on the company’s board.
Stephanie Pope is set to assume the role of Chief Operating Officer at Boeing
11 Dec 2023
Boeing is all set to appoint Stephanie Pope, a seasoned company veteran and current head of Boeing Global Services, as its Chief Operating Officer (COO).
Bank employees clinch 17% annual pay hike; push for 5-day week
10 Dec 2023
A consortium of bank employee unions and the Indian Banks Association (IBA) have reached a consensus on wage revision that provides for an annual increase of 17 per cent in salaries
700 Washington Post employees walk out over contract and layoff concerns
07 Dec 2023
In an unprecedented move, approximately 700 employees of The Washington Post walked off the job for 24 hours on Thursday, 7 December, 2023.
The U.S. Appeals Court grants a favorable ruling to chemical manufacturers in the PFAS lawsuit
28 Nov 2023
The U.S. 6th Circuit Court of Appeals, based in Cincinnati, Ohio, delivered a favorable ruling on Monday, November 27, 2023, for 3M, E.I. du Pont de Nemours and Co.,
Strike breaks out as Gucci workers in Rome protest against relocation of creative office
28 Nov 2023
Gucci fashion house in Rome, Italy, saw an unprecedented strike by their employees on Monday, 27 November 2023. This strike was a result of the fashion giant’s decision to move its design house from Rome to Milan, Italy.
Barclays plans $1.25 billion in cost savings, considering layoffs for up to 2,000 jobs
24 Nov 2023
Barclays, one of the leading British banks, is reportedly exploring strategies to save as much as £1 billion, with the possibility of cutting up to 2,000 jobs, particularly in the bank's back-office operations.
In another shocking twist, OpenAI announces the re-hiring of Sam Altman as CEO
22 Nov 2023
OpenAI, the company that created the revolutionary ChatGPT, took to social media platform X to announce that they have agreed in principle to rehire Sam Altman as the CEO of the company.
OpenAI investors consider legal action following CEO ousting and employee exodus
21 Nov 2023
In a startling turn of events, some investors in OpenAI, the renowned creator of ChatGPT, are contemplating legal action against the company's board.
Boeing announces departure of chief strategy officer in 2024 amid company restructuring
17 Nov 2023
Boeing’s chief strategy officer, Marc Allen, has decided to step down from his position by the end of this year.
Apple settles with U.S. government for $25 million in immigration hiring dispute
10 Nov 2023
In a groundbreaking settlement, technology giant Apple Inc. will pay $25 million to resolve allegations by the U.S. Department of Justice (DOJ) that the company engaged in discriminatory hiring practices favoring immigrant workers over U.S. citizens and green card holders for specific job positions.
Amazon announces the latest round of job cuts in recent layoffs
09 Nov 2023
E-commerce giant Amazon.com has confirmed that it has started to let go of some employees in its music division. This new round of job cuts is the latest among the many rounds prior to this that have affected over 27,000 people in the past year.
Citigroup considers significant job cuts in its ongoing CEO-backed restructuring
07 Nov 2023
Citigroup's top management, working under CEO Jane Fraser's reorganization initiative, has reportedly contemplated job cuts of at least 10% in key business segments.
Goldman Sachs announces promotion of 608 new managing directors, a decrease from 2021 numbers
03 Nov 2023
In a recent development, Goldman Sachs, the renowned Wall Street firm, announced its plan to promote 608 executives to the position of managing director in 2023.
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation