Amazon.com Inc’s (AMZN.O) layoffs will now total more than 18,000 as part of a previously disclosed workforce reduction, Chief Executive Andy Jassy said in a public staff note on Wednesday.
The layoff decisions, which Amazon will announce on January 18, will primarily affect the company’s e-commerce and human-resources departments, he said. The layoffs represent 6% of Amazon’s roughly 300,000-person corporate workforce and mark a swift turn for a retailer that recently doubled its base pay ceiling in order to compete more aggressively for talent. Amazon employs over 1.5 million people, including warehouse workers, making it the country’s second-largest private employer after Walmart Inc. (WMT.N).
GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link
SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link
From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread. The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year. At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company. Jain is under pressure to step down… Source link
