Tag: lays

Quick commerce platform Dunzo lays off 30% of its workforce

[ad_1]
New Delhi: Homegrown quick-grocery delivery provider Dunzo has laid off at least 30 per cent of its workforce, nearly 300 employees, after it raised $75 million in a fresh funding round.
According to sources, Kabeer Biswas, Dunzo Founder and CEO, told employees in a town-hall meeting about the latest round of layoffs.
When reached, Dunzo did not immediately comment.

The Economic Times was first to report about the development. In January, Dunzo had laid off 3 per cent of its workforce amid cost-cutting measures, as the company looked at team structures and network design to build efficiency into its teams.
The quick commerce platform will also shut down 50 per cent of its dark stores, and will now join supermarkets and other merchants.
E-commerce player Dunzo in January 2022 raised $240 million to expand its footprint in India.
The freshly-raised funds were to be used in enabling instant delivery of essentials from a network of micro warehouses while also expanding its ‘B2B’ business vertical to enable logistics for the local merchants.
The investment was led by Reliance Retail Ventures, with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.

[ad_2]
#Quick #commerce #platform #Dunzo #lays #workforce
( With inputs from www.siasat.com )

April 6, 2023
Dem fundraising giant ActBlue lays off 17 percent of workforce

[ad_1]
“But we need to ensure we are serving our users as sustainably and effectively as possible during the 2024 cycle and beyond,” Wallace-Jones said. “The center of our work is providing a technology platform for campaigns, organizations, and donors to drive change, and we are looking to focus our efforts on innovating and expanding our product while also controlling our costs.”
ActBlue workers are unionized under two unions. In a release, the company said it was committed to working with both unions in accordance with “contractual and bargaining obligations.”
In a release on Monday, ActBlue Union, which ratified a contract in February, said 32 of 54 employees laid off were members of its union, criticized ActBlue management, saying the organization had refused to explore alternatives to layoffs such as pay cuts, and called on the organization to not pursue further layoffs.
During the 2022 cycle, ActBlue reported processing more than $3.5 billion for Democratic candidates and progressive organizations, more than double the total it had raised during the 2018 cycle, from more than 7.4 million individual donors. The platform, founded in 2004, has been widely credited with supporting Democrats’ substantial small-dollar donor fundraising advantage.
[ad_2]
#Dem #fundraising #giant #ActBlue #lays #percent #workforce
( With inputs from : www.politico.com )

April 3, 2023
Unacademy lays off 12 pc of workforce in its latest round of job cuts

[ad_1]
New Delhi: Edtech major Unacademy has laid off 12 per cent of its workforce or over 350 employees in its latest round of job cuts.
Gaurav Munjal, co-founder and CEO of Unacademy, announced the latest layoffs in a Slack message to employees, reports TechCrunch.
“We have taken every step in the right decision to make our core business profitable, yet it’s not enough. We have to go further, we have to go deeper,” Munjal was quoted as saying.
“Today’s reality is a contrast from two years ago where we saw unprecedented growth because of accelerated adoption of online learning. Today, the global economy is enduring a recession, funding is scare and running a profitable business is key. We have to adapt to these changes, build and operate in a much leaner manner so we can truly create value for our users and shareholders,” he added.
Moreover, in a message to employees, Munjal stated that he takes “complete responsibility for the way things have turned out”.
In November last year, Unacademy laid off 10 per cent of its workforce or nearly 350 employees, as funding winter deepens for the Indian startup ecosystem.
Earlier this year, Unacademy-run Relevel laid off 40 employees, or 20 per cent of its workforce, as it shifts its focus from the education business to “tests product” and a new app called NextLevel.
Meanwhile, another edtech major BYJU’s has laid off further 15 per cent of its employees from its engineering teams, as the company continues phased layoffs to remain growth-oriented in a global economic meltdown.

[ad_2]
#Unacademy #lays #workforce #latest #job #cuts
( With inputs from www.siasat.com )

March 30, 2023
GitHub lays off entire India engineering team, at least 100 employees hit

[ad_1]
New Delhi: Open source developer platform GitHub has laid off its entire engineering team in India, its second largest developer community after the US, which affected at least 100 employees as part of the “reorganisation plan”.
Tech writer Gergely Orosz, who tracks global tech layoffs especially among the engineering/developer teams, the Github team in India has been let go at once.
“We’re talking of 100 engineers. This was done as the team was smaller than other locations, owning fewer and lower priority stuff,” he said in a tweet.
Orosz said he confirmed the layoffs after “talking with (now former) GitHub India engineers”.
A GitHub spokesperson told IANS that as part of the reorganisation plan shared in February, “workforce reductions were made today”.
It was “part of difficult but necessary decisions and realignments to both protect the health of our business in the short term and grant us the capacity to invest in our long-term strategy moving forward,” said the company spokesperson.
Microsoft-owned open source developer platform in February announced it was laying off 10 per cent of its workforce through the end of the company’s fiscal year.
GitHub had about 3,000 employees before the layoffs were announced.

In an email to employees, GitHub CEO Thomas Dohmke had said that sustained growth is important for every business.
“Today, we are the home of 100 million developers, and we must become the developer-first engineering system for the world of tomorrow. We must continue to help our customers grow and thrive with GitHub, expedite and simplify their cloud adoption journey, while supporting them every day,” the CEO wrote.
“Unfortunately, this will include changes that will result in a reduction of GitHub’s workforce by up to 10 per cent through the end of FY23. The hiring pause that I announced on January 18 remains in effect,” he added.
The open source developer platform has reached 100 million members globally, and is growing fast in India too where it has crossed 10 million developers on the platform.
This makes India the second largest developer community on GitHub, behind the US.
[ad_2]
#GitHub #lays #entire #India #engineering #team #employees #hit
( With inputs from www.siasat.com )

March 28, 2023
LG Lays Foundation Stone For Rs 250 Crore Worth Mall At Sempora,Says First ‘Direct Foreign Investment In JK’

[ad_1]
SRINAGAR: Jammu and Kashmir’s Lieutenant Governor Manoj Sinha Sunday laid the foundation stone for the first direct foreign investment project at Sempora area of Srinagar where a mega-mall will come up at the whopping Rs 250 crore.
Talking to reporters on the sidelines of the function, the LG said that today is the historic day for the JK as the United Arab Emirates (UAE) based EMAAR Group has decided to invest Rs 250 Crore to set up a mega-mall on the 10 lakh square feet area at Sempora, Srinagar. “This is a moment of pride. The Emaar group will also invest in setting up IT towers in Jammu and Srinagar, besides the mall and total investment by the group will touch Rs 500 Crore,” he said.
Earlier, addressing the gathering, the LG said that the investment made by the Emaar group is just a beginning. He urged the EMAAR group to ensure the completion of the mall within the shortest possible time.
The LG said that some people have a negative mindset in JK and continue to criticize the government policies as they can’t digest the huge development taking place in the UT.
“JK has witnessed a huge sea change post August 5, 2019. The government land was kept under illegal possession by some people that was retrieved. The land retrieved will be used for setting up industries, playgrounds for youth and graveyards for the people,” he said.
The LG said that JK was getting the cheapest power in the country. “JK is the first place after Telangana to have first Women Entrepreneur Institute (WEI),” he said. (KNO)

[ad_2]
#Lays #Foundation #Stone #Crore #Worth #Mall #SemporaSays #Direct #Foreign #Investment

( With inputs from : kashmirlife.net )

March 19, 2023
LG lays foundation stone for Rs 250 Crore worth Mall at Sgr’s Sempora; says its the first ‘direct foreign investment in

[ad_1]
Srinagar, Mar 19: Jammu and Kashmir’s Lieutenant Governor Manoj Sinha Sunday laid the foundation stone for the first direct foreign investment project at Sempora area of Srinagar where a mega-mall will come up at the whopping Rs 250 crore.
Talking to reporters on the sidelines of the function, the LG said that today is the historic day for the J&K as the United Arab Emirates (UAE) based EMAAR Group has decided to invest Rs 250 Crore to set up a mega-mall on the 10 lakh square feet area at Sempora, Srinagar. “This is a moment of pride. The Emaar group will also invest in setting up IT towers in Jammu and Srinagar, besides the mall and total investment by the group will touch Rs 500 Crore,” he said as per news agency—Kashmir news Observer (KNO).
Earlier, addressing the gathering, the LG said that the investment made by the Emaar group is just a beginning. He urged the EMAAR group to ensure the completion of the mall within the shortest possible time.
The LG said that some people have a negative mindset in J&K and continue to criticize the government policies as they can’t digest the huge development taking place in the UT. “J&K has witnessed a huge sea change post August 5, 2019. The government land was kept under illegal possession by some people that was retrieved. The land retrieved will be used for setting up industries, playgrounds for youth and graveyards for the people,” he said.
The LG said that J&K was getting the cheapest power in the country. “J&K is the first place after Telangana to have first Women Entrepreneur Institute (WEI),” he said—(KNO)
[ad_2]
#lays #foundation #stone #Crore #worth #Mall #Sgrs #Sempora #direct #foreign #investment
( With inputs from : roshankashmir.net )

March 19, 2023
Macron lays out ‘new era’ for France’s reduced presence in Africa

[ad_1]

French President Emmanuel Macron called on Monday for his country to build “a new, balanced relationship” with Africa, as the former colonial power seeks to reduce its military presence on the continent.
“The objective of this new era is to deploy our security presence in a partnership-based approach,” Macron said in a speech in Paris, ahead of a tour that will take him to Gabon, Angola, the Democratic Republic of Congo and Congo later this week.
In the future, French military bases on the continent will be “co-administered” with local personnel, the French president said, while there will be a “visible decrease” in the number of French troops stationed in Africa over the next few months.
The news comes as France has faced increasing opposition from local governments over its continued military presence in several of its former colonies, and was forced to withdraw hundreds of troops from Mali, the Central African Republic and Burkina Faso over the past year. Around 5,000 French soldiers remain stationed on various bases throughout the continent.
But Paris’ waning influence — particularly in the Sahel region — has also allowed Russia to expand its reach in Africa, including in the digital sphere through the use of disinformation campaigns, as well as on the ground with mercenaries from the Wagner group, who in some cases have replaced French soldiers.
The French president said his country would steer away from “anachronistic” power struggles in Africa, saying African countries should be considered as “partners,” both militarily and economically.
“Africa isn’t [anyone’s] backyard, even less so a continent where Europeans and French should dictate its framework for development,” Macron said.

[ad_2]
#Macron #lays #era #Frances #reduced #presence #Africa
( With inputs from : www.politico.eu )

February 21, 2023
Zoom lays off 1300 employees, CEO takes 98 pc pay cut

[ad_1]
New Delhi: Video communication app Zoom is laying off about 1,300 people, or 15 per cent of its workforce, its CEO Eric Yuan has announced.
Yuan also said that he is reducing his salary for the coming fiscal year by 98 per cent and foregoing his FY23 corporate bonus.
“Members of my executive leadership team will reduce their base salaries by 20 per cent for the coming fiscal year while also forfeiting their FY23 corporate bonuses,” he announced.
During the pandemic, Zoom usage surged significantly as millions stayed home.
Yuan said the company is still seeing that people and businesses continue to rely on Zoom.
“But the uncertainty of the global economy, and its effect on our customers, means we need to take a hard – yet important – look inward to reset ourselves so we can weather the economic environment, deliver for our customers and achieve Zoom’s long-term vision,” he said in a blog post.
“We have made the tough but necessary decision to reduce our team by approximately 15 per cent and say goodbye to around 1,300 hardworking, talented colleagues,” Yuan informed.
Departing full-time employees in the US will be offered up to 16 weeks’ salary and healthcare coverage, payment of their earned FY23 annual bonus based on company performance, and stock option vesting for six months for US employees and through August 9, 2023 for non-US employees.

“I know this is a difficult message to hear, and certainly not one I ever wanted to deliver,” said Yuan.
Zoom will announce its earnings for 2022 on February 27.
[ad_2]
#Zoom #lays #employees #CEO #takes #pay #cut
( With inputs from www.siasat.com )

February 8, 2023
Amit Shah lays foundation stone of Rs 450-cr nano urea plant in Jharkhand

[ad_1]
Deoghar: Union Home Minister Amit Shah on Saturday laid the foundation stone of a Rs 450-crore nano urea plant and township of the Indian Farmers Fertiliser Cooperative (IFFCO) in Jharkhand’s Deoghar.
Shah said it will help in reducing the dependence on import of urea and usher in development of the eastern region, particularly the Santhal Paraganas.
“Nano urea will benefit farmers, and it is already being exported to five countries,” he said.
Prime Minister Narendra Modi had inaugurated the world’s first nano urea plant in Gujarat last year, according to IFFCO. This will be India’s fifth such plant.
“PM Modi has given priority to all works related to land conservation across the country… Many urea factories were revived by Modi, and this small liquid urea factory built on 30 acres will manufacture about six crore bottles every year, which will make India self-sufficient by reducing imports in this sector,” Shah said.
The facility will prove to be useful in increasing production not only in Jharkhand but also in Bihar, Odisha and Bengal, he said.
Nano urea improves crop productivity, soil health and nutritional quality of the produce, IFFCO said.
The plant is scheduled to be commissioned in December next year, IFFCO Managing Director U S Awasthi said.

Awasthi said the unit will be constructed at a cost of Rs 300 crore and the township will entail an investment of Rs 150 crore.
The Jharkhand Industrial Area Development Authority (JIADA) has allotted 30 acres of land to IFFCO for the complex in Jasidih area in Deoghar district.
Shah said Primary Agriculture Credit Societies (PACS) would now function as Common Service Centres (CSC), and farmers can avail benefits of several services including no-dues certificates and birth and death registration certificates.
[ad_2]
#Amit #Shah #lays #foundation #stone #450cr #nano #urea #plant #Jharkhand
( With inputs from www.siasat.com )

February 4, 2023
IBM lays off 3,900 employees, bets big on hybrid cloud, AI

[ad_1]
New Delhi: Tech giant IBM is laying off 3,900 employees, which is a result of the spinoff of IT infrastructure services provider Kyndryl business and part of the AI unit called ‘Watson Health’.
The layoffs will cause a charge of $300 million in the January-March period to the company, according to IBM Chief Financial Officer James Kavanaugh.
“We have taken a number of significant portfolio actions over the last couple of years, which has resulted in some stranded costs in our business,” he said during the company’s earnings call late on Wednesday.
“We expect to address these remaining stranded costs early in the year and anticipate a charge of about $300 million in the first quarter,” Kavanaugh added.
IBM joins a slew of tech companies such as Meta, Alphabet, Microsoft and others in laying off thousands of employees amid the global economic headwinds.
In its quarter ending December 31, 2022, the company delivered $16.7 billion in revenue, $3.8 billion of operating pre-tax income, and operating earnings per share of $3.60.
“In our seasonally strongest quarter, we generated $5.2 billion of free cash flow,” said the company.
The revenue for the quarter was up over 6 per cent at constant currency.

Arvind Krishna, Chairman and Chief Executive Officer of IBM, said that to bolster the software portfolio, “we invested in hybrid cloud and AI capabilities”.
“This year, we’ll unlock more productivity, expand our strategic partnerships, and put more investment in specific growth markets. For 2023, we see revenue growth in line with our mid-single-digit model range and about $10.5 billion of free cash flow,” said Krishna.
[ad_2]
#IBM #lays #employees #bets #big #hybrid #cloud
( With inputs from www.siasat.com )

January 26, 2023