July 3, 2024 Ultimate Kronos Group (UKG), a prominent player in the staffing software sector, has executed a significant round of layoffs, affecting approximately 2,200 employees. The layoffs, amounting to about 14% of its workforce, were disclosed in an email sent by UKG CEO Chris Todd on July 3, just ahead of the July 4…
3 July 2024 Another round of layoffs has been announced by Redmond, Washington-based Microsoft as part of its ongoing staff restructuring. The computer behemoth, renowned for its wide-ranging product offerings and global presence, has not released precise employment figures for those impacted by these recent layoffs. Information about the Layoffs It has been reported that…
The National Company Law Tribunal (NCLT) has mandated that the troubled edtech giant Byju’s pay outstanding worker salaries regardless of its funding situation. If the tribunal’s warning was ignored, the Institute of Chartered Accountants of India (ICAI) would perform an audit. Following the NCLT’s Bengaluru bench’s consideration of a workers’ plea seeking restitution for unpaid…
In response to new US subsidies intended to boost local manufacture of electric cars (EVs), Chinese automakers are turning to Morocco. Chinese companies have made significant investments in this North African nation in an effort to benefit from the $7,500 credit offered to US automobile buyers. These investments are concentrated in Morocco because of its…
By the conclusion of the fiscal year (FY28), leading health insurance provider Star Health and Allied Insurance Co Ltd hopes to have doubled its gross written premium (GWP) to ₹30,000 crore. This difficult goal will be achieved by increasing market penetration in both urban and rural areas. The gross domestic product (GWP) of the Chennai-based…
July 3, 2024: The Indian Commerce Ministry is going to introduce a comprehensive online platform to assist exporters in navigating the non-tariff barriers (NTBs) they confront, which is a key step in strengthening India’s export landscape. With regard to minor export items in particular, this program seeks to bridge the knowledge gap and expedite the…
July 4, 2024 The Open Network for Digital Commerce (ONDC) is taking significant steps to integrate leading banks and fintech platforms to enhance last-mile credit services across India. This initiative follows the network’s early pilot programs for credit disbursal through its platform, aimed at financially underserved regions. Integration of Banks and Fintechs ONDC plans to…
In order to expand and mechanize the North Cargo Berth-III (NCB-III) for handling dry bulk cargo, JSW Infrastructure’s subsidiary, JSW Tuticorin Multipurpose Terminal, has won a concession agreement with the VO Chidambaranar Port Authority in Tamil Nadu. This project seeks to develop a cargo terminal with an annual capacity of 7 million metric tonnes and…
Former Reserve Bank of India (RBI) governor Urjit Patel has joined Britannia Industries’ board as an extra non-executive independent director for a five-year term. This move is seeking approval at the forthcoming Annual General Meeting scheduled for August 12, 2024, according to an exchange filing on July 2. Urjit Patel served as the Reserve Bank…
Unacademy, a leading name in India’s educational technology sector, has recently made headlines with a decision to downsize its workforce, affecting 250 employees across departments such as product development, marketing, and sales. This move is part of Unacademy’s strategy to streamline operations and boost efficiency in response to evolving market conditions. According to reports from…
