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Business

46 tech companies let go over 7,500 employees in first 2 week into NY

New Delhi, Jan 14 (IANS) In just two weeks into the New Year, at least 46 IT and tech companies (including startups) have laid off more than 7,500 employees and the number is growing by the day, as generative AI (GenAI) threatens millions of jobs.The global layoffs, which continued even in the holiday season late last year, are set to impact the…
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Business

Post IT results, markets get a booster dose

New Delhi, Jan 14 (IANS) The week went by was on predictable lines and we saw markets react to the set of IT results declared on Thursday in a manner which only markets can.While the net reaction was way above expectations, it was the cause…
Business

Rapido posts Rs 675 cr in losses in FY23, revenue up 3X

New Delhi, Jan 14 (IANS) Bike-taxi startup Rapido saw its losses surge nearly 54 per cent in the last fiscal year (FY23) to Rs 675 crore, from Rs 439 crore in FY22.An increase in riders’ cost, IT and employee benefits were behind Rapido’s…
Business

Global IT firm Veeam Software lays off 300 employees

San Francisco, Jan 14 (IANS) Global data management solutions provider Veeam Software has reportedly laid off 300 employees. The workforce reduction came after Veeam let go 200 workers in a separate round of layoffs last year.In a post on…