Business
Volkswagen to close operations in Germany, layoffs expected
Volkswagen to close operations in Germany, layoffs expected
Airtel shuts down Wynk Music and absorbs staff during strategic change
Airtel shuts down Wynk Music and absorbs staff during strategic change.
Byju’s CEO Promises Turnaround Amidst Challenges
Byju's CEO Promises Turnaround Amidst Challenges
Amazon is set to make substantial investments in expanding its data centre facilities and workforce in Hyderabad
The Telangana delegation, led by IT and Industries Minister D Sridhar Babu, engaged with senior leaders from Amazon, including Kerry Person, vice president, AWS Data Centre (planning and delivery), to strengthen the company’s operations in the region. This expansion is expected to reinforce Telangana’s status as a premier hub for cloud and data centre infrastructure in India. As AWS continues to grow its cloud services in the region, the state is likely to play a pivotal role in advancing India’s digital economy goals. Amazon already has a notable presence in Telangana, highlighted by its largest corporate building, globally, located in Hyderabad, and the launch of its dedicated air cargo network, ‘Amazon Air,’ in 2023. The city has also been designated as a strategic region for Amazon Web...
TVS Mobility has announced an employee exchange initiative with Mitsubishi.
TVS Mobility, the holding company managed by the T S Rajam family, has signed a Memorandum of Understanding (MoU) with Mitsubishi Corporation (MC) to launch the TVS Mobility Mitsubishi Employee Exchange Programme (TMMEEP). This initiative aims to enhance skills, promote mutual growth, and train the next generation of leaders. Under the agreement, employees from TVS Mobility will be hosted by MC Japan and its partners for skill development and training, with a primary focus on the automotive and mobility sectors, including inspection in auctions and service mechanics. Conversely, TVS Mobility India will host employees from MC, providing them with insights into digital deployment in the aftermarket business and supporting the growth of the independent aftermarket. This initiative is designed...
Nike’s difficult year intensifies as job layoffs exceed estimates
Nike is facing a tough year, and recent government filings reveal that the company has seen more job cuts than expected. Reports submitted to the SEC on July 25th showed that Nike’s workforce has reduced by 4,300 employees compared to the previous year, exceeding the approximately 1,600 layoffs announced in February 2023. Initially, Nike had planned to cut two percent of its staff, but the filings show that its workforce is now five percent smaller than it was last year. This significant reduction has had a notable impact on Nike’s operations and stock performance. The recent job cuts have particularly affected top-level employees, with 40 percent of the cuts impacting vice presidents, directors, or senior directors, totaling 318 out of 700 job losses. Furthermore, Nike’s stock...
Manchester United faces massive layoffs as the club undergoes an overhaul
Manchester United faces massive layoffs as the club undergoes an overhaul
Air India’s top management to be with Vistara post-merger
In a strategic move to ensure continuity, the Tata Group is set to maintain the current top management of Air India following its merger with Vistara. According to media reports, all senior executives of Air India will retain their positions post-merger. This indicates that Campbell Wilson will continue as CEO, with Nipun Aggarwal as chief commercial and transformation Officer, and Sanjay Sharma as chief financial officer. While most Vistara employees will transition to the merged company, some positions may be eliminated due to redundancies, as Air India has already staffed those roles. At Vistara, Vinod Kannan will return as CEO to Singapore Airlines (SIA), his parent company, after his secondment to Vistara since 2019. Under the joint venture agreement, SIA had the right to appoint the ...
SpiceJet facing financial trouble on PF dues issue.
SpiceJet facing financial trouble on PF dues issue.
Air India will launch a voluntary separation programme amid the Vistara merger.
Air India will launch a voluntary separation programme amid the Vistara merger.
‘A functioning firm should have the income to pay salaries,’ says NCLT to Byju’s.
'A functioning firm should have the income to pay salaries,' says NCLT to Byju's.
Major restructure at Ola Electric
Major restructure at Ola Electric