Indian Industry is witnessing massive layoffs and hiring freeze
Indian Industry is witnessing massive layoffs and hiring freeze.
Indian Industry is witnessing massive layoffs and hiring freeze
Indian Industry is witnessing massive layoffs and hiring freeze
Technology video | 263 views
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The telecom sector, which has lost over 100,000 employees in the last two years amid financial turmoil and consolidation, is set to turn a net hirer in FY20, with an expected 5% increase in manpower, executives said. They are looking to recruit from companies such as Microsoft, Google, Tata Consultancy Services, HCL Technologies, Ericsson and Nokia to help with network digitisation and preparing for 5G. Devina Sengupta reports. (Text: ET Bureau)
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On this day, Indian Captain Rohit Sharma made his T20I debut, witnessing former legendary Indian all-rounder Yuvraj Singh make history by smashing six sixes in an over!
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On this day, Indian Captain Rohit Sharma made his T20I debut, witnessing Yuvraj Singh make history!
Sports video | 116 views
Data scientists and Data engineers witnessing demand and growth
Data scientists and Data engineers witnessing demand and growth
Technology video | 109 views
During and post Covid, several companies doubled their sizes — including some small tech firms that hired crazily because the world was going towards digitization. “Now, when it starts becoming more ‘unit economics–driven,’ it will become an opportunity for some companies to cut their unnecessary load, and demand may also slow down, given the overall global macroeconomic scenario. Hence, employers are forced to re-adjust their cost structures to the available demand.”
Tech layoffs are skyrocketing and several enterprises are opting for mass layoffs and freezing hirings to maintain the profit ratio by tightening their belts and they are in a good faith that everything will go on-line, digital is going to drive the market on their own terms but creating a global scenario as the uncertainties in the market and challenging global macroeconomic conditions. Thousands of employees have lost their jobs in the country and are sharing their bitter layoff experience.
Job cuts are hitting the tech sector hard after years of unbridled growth. Facebook parent Meta, Twitter, Shopify, Salesforce, Stripe and CISCO have laid off thousands of employees to weather the rough macroeconomic conditions. The past few months have been difficult for people working in the private sector in India, particularly for employees of tech companies.
It’s not just the startups that are laying off people, but also storied IT services organizations. Amazon will continue to lay off employees in the coming year. Thankfully, there is no such prospect of recession in India.
Experts believe this might be just the beginning of job cuts in India. Startups with unicorn status including Byju’s Unacademy, Meesho, Ola, Blinkit, Cars24 and others, have laid off thousands of people in their workforce.
Secondly, organizations have been bullish and anticipating a higher valuation and a lot of inflow of funds from venture capitalists. Probably the organizations could not anti
Technology video | 168 views
The ongoing #RussiaUkraineWar has contributed to the layoffs in the job market as it has made the market more volatile. This is clearly visible from stock market volatility. A potential economic recession is a big red flag. With inflation soaring in most parts of the world, leading to a crisis in the job market as well. The International Monetary Fund has cited forecasts for global GDP growth in both 2022 and 2023 as gloomy. These measures involved increasing the interest rates.
We have seen how the U.S. multinational companies including tech giants Amazon, Meta, Intel, Twitter, Citi, Morgan Stanley and Adobe, announced massive layoffs. These developments are bound to have an impact on India’s export prospects, especially in the information technology sector. The Indian IT services firms are among the largest employers in the organized sector and any global economic trend is bound to have an impact on their growth projections.
The attrition rates or the number of employees per 100 quitting on their own, of the top two firms, TCS and Infosys, show that these rates are still high, which means that there is enough business for the sector for competitors to draw away employees with promise of higher salaries. For instance, all top companies except Wipro saw a rise in revenue and net profit.
The news of layoffs in the Indian start-up front is predominantly in Edtech, or the educational technology front. During the pandemic, there was a surge in demand as people were in lockdown, and were spending a lot of time on the internet. The overall consumption saw an upsurge following which the companies went to increase their output to meet the market requirements.
As the demand is coming back to pre-Covid levels and seeing the debt bubble almost about to burst and fearing recession, Managements during a recession look critically at headcount numbers to cut costs and protect profit margins as they are accountable to investors.
Experts
Technology video | 178 views
As the global financial situation weighs on wallets and portfolios, big names like Meta, Twitter and Amazon have all initiated #layoffs in 2022. November tech layoffs alone have surpassed 45,000 heads, with the largest firms trimming the fat by 10,000+ heads each.
Some companies that go private disappear from public view. But Not Twitter. It’s hard to think of another corporate takeover whose aftermath has drawn much of the media attention, with many details leaking out. And that has surely complicated Elon Musk’s life, for instance, scaring away advertisers and possibly making it harder to recruit employees. Even so, Musk’s view that it would be easier to restructure Twitter as a private firm—expressed in an April text to Twitter’s then chair, Bret Taylor—was still probably right.
After all, while we’ve heard a lot about the untrammelled nature of Musk’s management style, we know little about what’s most important—the state of Twitter’s business, such as its current level of revenue, expenses and debt levels. Yes… Musk borrowed $13 billion in debt that carried very high interest rates.
It’s possible, though, that he will use his latest sale of Tesla stock this week, raising somewhere around $3.5 billion, to pay some of that off. That’s one interpretation of his tweet: “At risk of stating obvious, beware of debt in turbulent macroeconomic conditions, especially when Fed keeps raising rates.” The bottom line is that without knowing the key financial details, we can’t really assess the state of play.
As reported by the Information, based on the snippets that have been reported—such as ad revenue falling in some regions by as much as half—you can guess that lower revenue has largely offset the cost savings from employee cuts. It’s also likely that at current valuation levels Twitter’s equity has been all but wiped out.
Assume that its revenue is running at an annualized level of $4 billion now, down 20% from 2021. Then appl
Technology video | 209 views
Founders are acutely aware of the slowdown in deal-making, and ‘expanding the runway’ is the mantra they are following to tide over the next quarters. So, startups are on the drawing board to implement those measures. Going back which will help them survive for the next 24 months.
Among companies to end layoffs in 2023, Google-backed Mohalla Tech Pvt Ltd, which runs social media site #ShareChat and short video platform Moj, topped the list with nearly 600 layoffs. It states that external macro factors affect the cost and availability of capital.
The Bengaluru-based company cut its workforce by around 20% in the latest round. Mohalla Tech also laid off its fantasy sports vertical Jeet11, which laid off around 115 employees in December.
Another Google-backed startup that laid off its employees in early 2023 is Dunzo. The instant commerce firm laid off 3% or about 90 employees as part of its restructuring. Product and supply chain employees were the most affected. “Some senior developers and at least two directors of engineering have been dismissed,” said a person with knowledge of Dunzo’s development.
The challenge of this “winner-takes-all” model in the corporate world is that the competition has to be decimated with whatever means necessary, the ultimate objective for the winner is a monopoly (the only buyer) and a monopsony (the only seller). There is no room for a second or third player in this model.
The “winner-takes-all” model requires an enormous amount of funding – business fundamentals such as profits or even revenue are not important. The model’s assumption is that equity can fund losses; revenues are not important until such time that there is only one player standing.
Food delivery major Swiggy reportedly plans to fire around 8-10% of its workforce, or 480-600 employees, to reduce costs amid the ongoing funding winter. The layoff at Swiggy will impact its product, engineering and operations teams, Fina
Technology video | 194 views
SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
Watch the full film 'SAMARPAN' online on
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- ASHI, Haryana's website - https://ashi-haryana.org/
About ASHI, Haryana:
Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.
All Rights Reserved - Pinaka Mediaworks LLP - 2019
Produced by: Association of Social Health in India (Haryana State Branch), Pinaka Mediaworks & Rolling Frames Entertainment.
Director: Ojaswwee Sharma
Production House - Pinaka Mediaworks LLP
- Associate Director: Rohit Kumar
- Editor: Bhasker Pandey
- Cinematography Team:
Raman Kumar
Harjas Singh Marwah
Surinder Singh
- Subtitles: Diveeja Sharma
For Pinaka Mediaworks LLP (India)
- Co-founder & CFO: Sunil Sharma
- Brand Communication Head: Diveeja Sharma
- Head of Post Production: Bhasker Pandey
- Legal Advisor: Vishal Taneja
Kids video | 573022 views
SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
Watch the full film 'SAMARPAN' online on
- Rolling Frames Entertainment - (https://rfetv.in)
- VEBLR - (https://veblr.com/)
- ASHI, Haryana's website - https://ashi-haryana.org/
About ASHI, Haryana:
Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.
All Rights Reserved - Pinaka Mediaworks LLP - 2019
Produced by: Association of Social Health in India (Haryana State Branch), Pinaka Mediaworks & Rolling Frames Entertainment.
Director: Ojaswwee Sharma
Production House - Pinaka Mediaworks LLP
- Associate Director: Rohit Kumar
- Editor: Bhasker Pandey
- Cinematography Team:
Raman Kumar
Harjas Singh Marwah
Surinder Singh
- Subtitles: Diveeja Sharma
For Pinaka Mediaworks LLP (India)
- Co-founder & CFO: Sunil Sharma
- Brand Communication Head: Diveeja Sharma
- Head of Post Production: Bhasker Pandey
- Legal Advisor: Vishal Taneja
Kids video | 108533 views
SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
Watch the full film 'SAMARPAN' online on
- Rolling Frames Entertainment - (https://rfetv.in)
- VEBLR - (https://veblr.com/)
- ASHI, Haryana's website - https://ashi-haryana.org/
About ASHI, Haryana:
Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.
All Rights Reserved - Pinaka Mediaworks LLP - 2019
Produced by: Association of Social Health in India (Haryana State Branch), Pinaka Mediaworks & Rolling Frames Entertainment.
Director: Ojaswwee Sharma
Production House - Pinaka Mediaworks LLP
- Associate Director: Rohit Kumar
- Editor: Bhasker Pandey
- Cinematography Team:
Raman Kumar
Harjas Singh Marwah
Surinder Singh
- Subtitles: Diveeja Sharma
For Pinaka Mediaworks LLP (India)
- Co-founder & CFO: Sunil Sharma
- Brand Communication Head: Diveeja Sharma
- Head of Post Production: Bhasker Pandey
- Legal Advisor: Vishal Taneja
Kids video | 108825 views
SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
Watch the full film 'SAMARPAN' online on
- Rolling Frames Entertainment - (https://rfetv.in)
- VEBLR - (https://veblr.com/)
- ASHI, Haryana's website - https://ashi-haryana.org/
About ASHI, Haryana:
Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.
All Rights Reserved - Pinaka Mediaworks LLP - 2019
Produced by: Association of Social Health in India (Haryana State Branch), Pinaka Mediaworks & Rolling Frames Entertainment.
Director: Ojaswwee Sharma
Production House - Pinaka Mediaworks LLP
- Associate Director: Rohit Kumar
- Editor: Bhasker Pandey
- Cinematography Team:
Raman Kumar
Harjas Singh Marwah
Surinder Singh
- Subtitles: Diveeja Sharma
For Pinaka Mediaworks LLP (India)
- Co-founder & CFO: Sunil Sharma
- Brand Communication Head: Diveeja Sharma
- Head of Post Production: Bhasker Pandey
- Legal Advisor: Vishal Taneja
Kids video | 36504 views
SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
Watch the full film 'SAMARPAN' online on
- Rolling Frames Entertainment - (https://rfetv.in)
- VEBLR - (https://veblr.com/)
- ASHI, Haryana's website - https://ashi-haryana.org/
About ASHI, Haryana:
Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.
All Rights Reserved - Pinaka Mediaworks LLP - 2019
Produced by: Association of Social Health in India (Haryana State Branch), Pinaka Mediaworks & Rolling Frames Entertainment.
Director: Ojaswwee Sharma
Production House - Pinaka Mediaworks LLP
- Associate Director: Rohit Kumar
- Editor: Bhasker Pandey
- Cinematography Team:
Raman Kumar
Harjas Singh Marwah
Surinder Singh
- Subtitles: Diveeja Sharma
For Pinaka Mediaworks LLP (India)
- Co-founder & CFO: Sunil Sharma
- Brand Communication Head: Diveeja Sharma
- Head of Post Production: Bhasker Pandey
- Legal Advisor: Vishal Taneja
Kids video | 86981 views
SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
Watch the full film 'SAMARPAN' online on
- Rolling Frames Entertainment - (https://rfetv.in)
- VEBLR - (https://veblr.com/)
- ASHI, Haryana's website - https://ashi-haryana.org/
About ASHI, Haryana:
Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.
All Rights Reserved - Pinaka Mediaworks LLP - 2019
Produced by: Association of Social Health in India (Haryana State Branch), Pinaka Mediaworks & Rolling Frames Entertainment.
Director: Ojaswwee Sharma
Production House - Pinaka Mediaworks LLP
- Associate Director: Rohit Kumar
- Editor: Bhasker Pandey
- Cinematography Team:
Raman Kumar
Harjas Singh Marwah
Surinder Singh
- Subtitles: Diveeja Sharma
For Pinaka Mediaworks LLP (India)
- Co-founder & CFO: Sunil Sharma
- Brand Communication Head: Diveeja Sharma
- Head of Post Production: Bhasker Pandey
- Legal Advisor: Vishal Taneja
Kids video | 58497 views
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