Ride-hailing giant Uber recently said that it has decided to lay off 3,000 more employees as coronavirus-led restrictions has reduced the demand for ride-hailing services. These job cuts are in addition to the 3,700 Uber had announced earlier this month. The employees were informed about the decision by Chief Executive Officer Dara Khosrowshahi in an…
Layoffs have become a common phenomenon in these unprecedented times. The coronavirus has impacted several businesses, forcing them to resort to tough measures like cost cutting and downsizing. The recent company to fall in the crisis is shared office space startup, WeWork. Recently, WeWork India said that it has laid off nearly 20% of its…
Just days after Zomato announced its decision to lay off employees, food delivery unicorn Swiggy also said that it is laying off 1,100 employees across functions over the next few days. In a blog written by Sriharsha Majety, Co-Founder and Chief Executive Officer, the company said, it will be laying off 1,100 employees across grades…
American financial services firm Goldman Sachs recently said that it will honour all the jobs and internship offers made to 1,460 Indian graduates and students amid coronavirus pandemic. According to a Reuters report, the US-based bank has said that it will honour all the 1,460 offers, which is equivalent to quarter of its workforce in…
Indian smartphone maker Lava recently said that it will shift its production base from China to India. The company will reportedly also shift its design center, which employees 600 people, to the country. According to a Business Standard report, the recent move is because of the government’s new Production Linked Incentives (PLI) for manufacturers in…
Indian food delivery unicorn Zomato recently announced that it is set to lay off about 13% of its workforce due to the coronavirus pandemic’s impact on business. The job cuts and temporary pay cuts for employees were announced by the company founder and Chief Executive Officer Deepinder Goyal through a blog published on the company…
Philippines-based home services platform GoodWork recently announced that it has raised $1.6 million in seed funding. The funding round was led by US-based Chaac Ventures. According to a company statement, clutch of angel investors from Facebook and Snapchat along with other US investment funds such as Elysium Ventures and Kairos K50 also participated in the…
Social media giant Facebook has agreed to a $52million court settlement to compensate its content reviewers, after a class-action lawsuit alleged that the employees suffered psychological damages while filtering harmful content uploaded on the site. According to an AFP report, the preliminary settlement was reached in a California court. As per the settlement, the U.S.…
Social media major Twitter recently announced its plans to allow many of its employees to work-from-home permanently, even after the coronavirus pandemic passes. According to an internal email sent by CEO Jack Dorsey to employees, the company is unlikely to open its offices before September. It also said that some jobs that require physical presence,…
India’s largest airline in by market share, IndiGo recently announced that it is now proceeding ahead with salary deductions for employees from May onwards. The company Chief Executive Officer, Ronojoy Dutta also said that the carrier is implementing a “limited, graded leave without pay program” for the months of May, June, and July. The airlines…
Food delivery unicorn Zomato is reportedly aiming to start delivering alcohol to consumers as the company seeks to encash on the high-demand for liquor in India amid lockdown. According to a document seen by Reuters, Zomato is trying to lobby for a change in alcohol rules in India along with International Spirits and Wines Association…
United Airlines is reportedly looking to slash at least 3,400 management and administrative positions in October due to the slump in air travel demand amid the coronavirus pandemic. According to internal memos sent by the company to employees, accessed by Reuters, the company informed its staff about the possible job cuts, including the flying team.…
Ride-hailing giant Uber has been witnessing a series of layoffs across departments of the company due to the coronavirus impact on the business. Recently, the company had announced that it is laying off 3,700 employees globally to save costs. Following the footsteps of its parent company, Uber’s subsidiary in Middle East Careem has now announced…
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…