In an email to his employees today, Ola CEO Bhavish Agarwal cited the downsizing of the workforce by 1400 employees. Ola’s revenue slashed down by 95% in the last 2 months as Covid19 hit the worst in the travel industry.
Shares of Bharti Airtel surged 10 per cent to a 52-week record high on Tuesday after the company announced better than expected March-quarter results. At 10:12 am, the stock was trading 10% higher at ₹586.25 per share on the BSE.
Bengaluru bases food delivery startup, Swiggy fired 1,100 employees today due to the business slowdowns during the COVID-19. This news comes two days after rival Zomato fired 500 employees and cut by up to 50 per cent the salary of
Days after the billion-dollar Facebook deal, Reliance Industries surprised the country with yet another mega-deal. RIL on Monday announced an Rs. 5,656 crore fresh investment in Jio Platforms by US-based equity firm Silver Lake, at a 12.5% premium over the
Reliance Industries Ltd has announced that it will reduce the salaries of some of its employees in the hydrocarbon division by 10 per cent in the wake of the coronavirus pandemic. These pay cuts would apply to the employees in
Venture capital firm Sequoia has announced the list of 15 startups that made to the third cohort of its Surge programme. Surge is an accelerator programme for early-stage startups in India and Southeast Asia. Selected startups will get funding of
Not all is negative about the lockdown, certainly not for India’s largest IT service firm Tata Consultancy Services (TCS) that is preparing to ditch its 20-year-old operating model and leapfrog into a new mode of work. TCS is said to
Facebook Inc. to invest $5.7 billion, or Rs. 43,574 crore in Jio Platforms, the digital and telecom assets controlled by Mukesh Ambani. The investment will make Facebook the largest minority shareholder in Jio Platforms Limited(JPL). Jio Platforms was created as
Oil is one of the world’s most valued commodities, but the coronavirus lockdowns have overturned its dominance. When Indians woke up on Tuesday morning, the price of a barrel of crude oil fell to less than nothing. That’s the first