WestJet, a Calgary-based airline has announced that the company will further lay-off 3,000 of its workers in early May as demand for flights craters amidst the COVID-19 pandemic. Earlier in March, the company laid off 6,900 of its workers amid a dramatic downturn in business because of COVID-19. The number of people who lost their…
As per the International Labour Organisation’s prediction, the world will witness a loss of about 2.5 million jobs due to the coronavirus pandemic. Most of these job losses are coming from new-age startups and small scale industries who are being tested the most by the economic situation. After hospitality startups like Treebo and Fab Hotels,…
The ongoing coronavirus pandemic has forced businesses to get on their knees. The nationwide lockdown has started taking toll on businesses and food delivery companies are having a really tough time due to fear of catching the virus in consumer’s mind. Owing to the troubles because of the pandemic, food unicorn Swiggy is recently planning…
The airline industry has long been in soup due to the novel coronavirus outbreak. But things got even worse for the sector post the governments imposing nationwide lockdowns and travel-bans. It is being predicted that if the lockdown gets extended any further, several budget carriers will have to file for bankruptcy. In an attempt to…
Jaguar Land Rover, a subsidiary of Tata Motors has announced a sharp decline in its retail sales in the fiscal 2019/20 by 12.1% in comparison to fiscal 2018/19, primarily as a result of the coronavirus pandemic that has significantly impacted sales in the fourth quarter of the fiscal year. “The total retail sales for the…
With the impact of COVID-19 continuing to spread, customers and partners are navigating through uncertainty and complexity. To help the channel partner community serve their customers better, Dell Technologies announced ‘Partner Relief Package’, to provide financial relief. Dell will provide immediate financial relief to metaled partners, while helping them build capabilities and pipeline for the…
Adventure camera maker, GoPro, recently announced that it has done massive organizational changes at the company. Taking into account the impact of the coronavirus pandemic, the company is laying off 20% of its workforce to conserve cash. GoPro has announced a $100 million reduction to 2020 operating expenses including a workforce reduction of more than…
Social commerce startup Meesho has reportedly laid off more than 200 employees of its 700-strong workforce. According to a recent report by the news website Entrackr, in an attempt to conserve cash during the pandemic, the startup has laid off over 200 employees just days after entering into the grocery delivery business. According to the…
Stripe, a U.S. fintech startup, has said it has raised $600 million as companies that are providing financial and payment services via online are witnessing a surge in these times due to the coronavirus pandemic. “The pandemic is accelerating the trend as more customers look to pay without contact and use banking services without stepping…
TCS, India’s largest software exporter, has said that it will not retrench any of its nearly 4.5 lakh employees, but has decided not to give any salary hikes this year, according to a report. The Tata group company has commented on new hires that it will keep 40,000 people who have been given offers on…
The airline industry has long been in a soup due to the novel coronavirus outbreak. But things got even worse for the sector post the governments imposing nationwide lockdowns and travel-bans. It is being predicted that if the lockdown gets extended any further, several budget carriers will have to file for bankruptcy. In an attempt…
Google has announced recently that the company will be offering financial support to local newsrooms hit by the economic fallout of the COVID-19 pandemic, as part of its Google News Initiative. The company, however, did not disclose the size of the funding it would offer through the relief fund. The company made the announcement in…
The novel coronavirus pandemic has brought the global economy on its knees. Business is not as usual and layoffs or salary cuts have become a daily routine now. The pandemic has impacted several businesses and organizations so much that some are even planning on to file bankruptcy if the crisis is not solved easily. Starting…
Lightspeed Venture Partners announced the closings of Lightspeed Venture Partners XIII, L.P. with $890 million, Lightspeed Venture Partners Select IV, L.P. with $1.83 billion, and Lightspeed Opportunity Fund, L.P. with $1.5 billion of limited partner committed capital. According to the press release, the California-based venture capital firm said, “In these difficult times, as the world…
Chubb announced three grants as part of its previously announced commitment to contribute $10 million to pandemic relief efforts globally. The company’s support, which is funded through the Chubb Charitable Foundation, is directed to partner organizations around the world that are providing essential resources immediately in areas facing the most acute need from the COVID-19…