The information technology (IT) industry is laying off thousands of employees across the globe and in India, on grounds of non-performance, lack of projects and rightsizing surplus staff as pressure mounts on firms due to an uncertain business environment. …
Read More IT Companies Resort To Layoffs As Pressure Mounts Due To Covid Crisis
Cognizant Technology Solutions will eliminate as many as 7,000 mid-senior level jobs globally and reskill about 5,000 employees as part of a plan to save costs and simplify the company’s organizational structure. “Such layoffs are already happening quietly in the industry…
Read More Cognizant Slashes Jobs As Part Of Cost Cutting, Revamp Plan
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In the rush to grow rapidly, several Indian startups have over the last year ventured into areas not directly related to their core businesses. For instance, in December 2017, ride-hailing startup Ola acquired food-delivery startup Foodpanda and e-commerce major Flipkart is reportedly in…
Read More An Indian Unicorn Admits It Screwed Up And Is Rebooting With Layoffs
Industry experts believe that Cognizant will not see much impact from its ongoing case with the income tax authorities in India. "Cognizant is not a company that is known to be non-compliant. That said, a company of its stature should…
Read More Cognizant Tax Evasion Issue Unlikely To Have Significant Impact
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Cognizant, the New Jersey-headquartered software services company with most of its operations in Chennai, is likely to lay off 6,000-10,000 “ redundant and non-performing” employees. “When global competition stepped in, Indian companies went through multiple levels of devaluation – for example…
Read More Cognizant Layoffs: Gloom Continues, Jobs In Tech And IT Companies Dry Up
India’s bustling startup ecosystem is in a state of hysteria as e-commerce major Snapdeal implodes. “I believe other startups will follow suit and by March more layoffs will be announced in other firms. There isn’t any choice. Companies will have…
The e-commerce industry in India has received another blow. On Wednesday, India’s third biggest e-commerce firm Snapdeal announced that it will be laying off employees. Though the company refrained from giving out exact numbers of people to be given the…
Online marketplace eBay will shut its global development centre in Bengaluru, laying off staff and taking back work to Silicon Valley on the day Donald Trump got elected as the 45th President of United States on promise of bringing back…
Read More First Casualty Of Donald Trump’s Win? eBay Sacks India Product Team
Amidst increasing scrutiny from investors because of falling revenue growth, micro-blogging platform Twitter has shut its Bengaluru development centre. “While India is seeing a lot of multinational companies setting up R&D centres, most of the work that happens out of India…
Read More Twitter Shuts Down Development Centre In Bengaluru
Indian e-commerce giant Flipkart, which has asked around 400 of its 33,000-strong workforce to leave the company on grounds of non-performance, said the move was in line with industry practices. Sanchit Vir Gogia, Chief Futurist, Founder and CEO of Greyhound…
Read More Layoffs Are In Line With Industry Practices: Flipkart
Amid concerns of Indian startups’ financial health, Flipkart – the country’s largest e-commerce firm – put 300-600 employees on a performance improvement plan that might result in layoffs. “Market correction has impacted e-commerce firms. This is beyond regular attrition. Downsizing…
Read More Amid E-retail Crisis, Flipkart Puts 300-600 Employees On Road To Layoffs
Intuit, a US accounting software company, has retrenched at least 440 employees globally and the wave has hit Indian shores, too. According to officials in the company's Bengaluru office, 35 employees including developers, sales and marketing staff were asked to leave last…
