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Ride hailing platform Uber is reportedly planning to lay off around 500-700 employees from its India unit as the company struggles to operate in the country. Due to the coronavirus pandemic, New Delhi has imposed a nationwide lockdown since March owing to which movement of people has come to a standstill. Taxi and transportation services…
Ride-hailing giant Uber Technologies recently announced that it has decided to lay off 3,700 employees or 14% of its workforce due to the impact of the pandemic on the company’s business. According to the US SEC filing made by the company on May 2, the company is all set to execute a plan put in…
Tata Consultancy Services, a leading global IT services, consulting, and business solutions organization, announced that Continental Bank in the US has selected TCS BaNCS Cloud for Banking to digitally transform its business. Continental Bank is a privately owned commercial bank, headquartered in Salt Lake City, Utah. The bank wanted to expand its product and customer…
In the current scenario of lockdown announced by the Government to control the spread of COVID-19 pandemic and other disruptions, the employers are not able to function normally and are facing problems in using their digital signatures or Aadhaar based e-sign on EPFO portal. Many important tasks like KYC attestation, transfer claim attestation, etc., are…
Vernacular.ai, a Bengaluru-based SaaS startup, announced it has raised $5.1 million in its Series A funding round led by Exfinity Ventures and IAN Fund. Kalaari Capital, AngelList and LetsVenture also participated in the round. The company said it will use the newly raised capital to enter Southeast Asia and the US and invest in R&D…
Nium, Singapore-based global fintech platform, announced that the company has completed its latest fundraise. Visa, the world’s leader in digital payments, participated in the round along with existing investors. Another new investor to join the fold was BRI Ventures, the Corporate Venture arm of Bank BRI of Indonesia. “I am thrilled to announce that we…
As the country was under complete lockdown till May 3, all manufacturing operations were shut down nationwide resulting in great loss to the companies involved in manufacturing. However after May 3, the central government has lifted lockdown in few areas which are categorised as Green Zones, but the manufacturing operations are run in accordance to…
Cloud-computing company Nutanix has reportedly confirmed furloughing a total of 1,465 employees in the United States, nearly 25% of the company workforce globally. According to a report by CRN, the company is reducing headcount due to “uncertain business conditions” stemming from the coronavirus pandemic. Speaking to the news website CRN, the company said that it…
American IT services company, Cognizant has recently entered into an agreement to acquire Collaborative Solutions, a US-based global consultancy firm. The company specializes in Workday enterprise cloud applications for finance and human resources. The transaction is expected to be closed in the second quarter of 2020, subject to regulatory clearance and satisfaction of certain closing…
Online retail giant Amazon Inc has reportedly told staff whose job can be done from home that they can do so until at least October 2, Reuters reported. Brushing out the timeline on a return to work for many employees, the move is seen as an outcome of the scrutiny the company is facing over…
US-based hospitality firm Airbnb Inc recently announced that it has decided to lay off about 25% of its workforce, nearly 1,900 employees due to the impact of coronavirus pandemic on travel industry. Announcing the decision, company Founder Brian Chesky in a memo said that the company’s business has been hit hard as the pandemic has…
MYSUN, a Delhi-based technology platform for rooftop solar energy solutions for industry, SMEs/MSMEs, and homes, announced it has raised Rs 32 crore pre-Series A funding from its existing investors. The company is looking to raise Rs 250 crore over the next few quarters, the company said in a release. The company will utilise the fund…
Mukesh Ambani’s Reliance Industries is in advanced discussions to acquire a majority stake in online pharmacy Netmeds as part of its broader play in commerce, said three sources familiar with the development to the TOI. Netmeds is a fully licensed e-pharma portal that offers authenticated prescription and Over the Counter (OTC) medicine along with other…
IBM, at its Think Digital conference, unveiled its list of ‘women leaders’ in AI. It recognized 35 exceptional female business leaders from 12 countries, who are using artificial intelligence to drive transformation, growth and innovation across a wide variety of industries.  Research from a recent IBM global AI survey indicates that 34 % of businesses…
Marriott International, Inc. announced that it has signed amendments to its existing co-brand credit card agreements with JPMorgan Chase & Co. and American Express. The company said that these amendments will provide the company with $920 million of cash, further enhancing its liquidity, with $570 million coming from Chase and $350 million coming from American…