Tag: slash

AP lone state to slash taxes on several local products: Finance Minister

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Rajamundry: Andhra Pradesh is the lone state in India that has managed to reduce taxes on several local products through the Goods and Service Tax Council, Finance Minister Buggana Rajendranath said on Thursday.
He said AP succeeded in waiving taxes, ushering reforms and reducing and correcting taxes on several products such as mangoes, mango pulp, extra-neutral alcohol and other items.
“After extensive deliberation and research, we succeeded in waiving tax on tamarind (chintapandu), an essential ingredient for cooking food,” said Rajendranath in a press release shared by the state government.

He said the government had received petitions for excluding tamarind from GST from Chittoor and Anantapur districts.
The finance minister observed that even the British government during colonial times had introduced a “Tamarind Tree Law”, which mandated that no such tree should be felled without the permission of the district collector, considering the crucial nature of this ingredient in cooking food.
Rajendranath noted that the tax was waived on reasoning with the Central government about the ubiquitous nature of tamarind, including reminding it of a colonial precedent of exempting the sour spice from taxation.
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#lone #state #slash #taxes #local #products #Finance #Minister
( With inputs from www.siasat.com )

April 27, 2023
Meta to slash around 4K high-skilled jobs this week: Report

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San Francisco: Meta (formerly Facebook) is reportedly set for another round of mass layoffs on Wednesday that will affect at least 4,000 highly-skilled employees, the media reported.
This week’s layoffs could be in the range of 4,000 jobs, according to a report in Vox, citing sources.
In March, Meta CEO Mark Zuckerberg announced the company would cut 10,000 jobs in the coming months.

In an internal memo seen by The Washington Post, Meta said that “the company will begin notifying employees on its technical teams whose jobs are being cut”.
Meta will also announce newly reorganised teams and management hierarchies, the report mentioned.
“Facebook parent company Meta will announce details about new job cuts on Wednesday, part of a months-long downsizing and restructuring effort that will trim 10,000 employees amid multiple waves of layoffs,” The Washington Post tweeted on Wednesday.
In March, Zuckerberg announced to sack an additional 10,000 employees via several job cut rounds in the coming months.
Zuckerberg said that overall, “we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired”.

The fresh cuts came just four months after he laid off 11,000 employees, or 13 per cent of the company, in November last year.
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#Meta #slash #highskilled #jobs #week #Report
( With inputs from www.siasat.com )

April 19, 2023
McKinsey to slash 2,000 jobs in one of biggest layoffs

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San Francisco: Global consulting firm McKinsey & Co is reportedly planning to slash about 2,000 jobs in one of the largest layoffs, the media reported.
The job cut is likely to focus on support staff who do not have direct contact with clients, reports Bloomberg.
The layoffs are reportedly part of ‘Project Magnolia’, which the consulting firm hopes will help preserve the compensation pool of its partners.
“We are redesigning the way our non-client-serving teams operate for the first time in more than a decade, so that these teams can effectively support and scale with our firm,” a company spokesperson was quoted as saying.
Last week, reports surfaced that global consulting firm KPMG is laying off 2 per cent of its workforce that will impact about 700 employees in the US, owing to a “sharp slowdown in its consulting business”.
According to The Financial Times, KPMG became the first of the Big Four accountancy firms (EY, Deloitte, and PwC) to reduce jobs amid global macroeconomic conditions.
According to the report, KPMG has also been struggling with the collapse in merger and acquisition activity, which has hit its deal advisory business.
The Big Four financial accounting firms went on a hiring spree in the wake of the pandemic, as demand for IT consulting and deal advisory work had surged.

Last month, global investment firm Goldman Sachs fired more than 3,000 employees.
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#McKinsey #slash #jobs #biggest #layoffs
( With inputs from www.siasat.com )

February 22, 2023