Humiliation and uncertainty are the words to describe the situation, says one of the many Twitter India staff who was handed a pink slip on Friday. That the laying off was perhaps on expected lines or that the microblogging platform itself erupted in support from ‘Tweeple’ or emphatic outsiders did not make things less painful, says another ex-employee. For scores of Twitter India staff, the grim reality of large scale firings — that also coincides with the dreaded layoff winter — is just about ‘sinking in’, days after popular platform was taken over by the world’s richest man Elon Musk.
Posts tagged Rediff
Festive fervour puts auto retail sales in fast lane (07-11-2022)
Aided by robust festive season offtake, automobile retail sales in India witnessed a 48 per cent annual jump in October, automotive dealers’ body Federation of Automobile Dealers Associations said on Monday. The total retail sales last month stood at 20,94,378 units, up 48 per cent from 14,18,726 registrations in October 2021. The registrations last month were even better by 8 per cent as against October 2019, a pre-COVID month. The festive season this year turned out to be the best for the industry in the last four years.
Boycott calls force advertisers to increase safeguards (07-11-2022)
American writer HP Lovecraft famously said that the oldest and strongest of fears is the fear of the unknown. For present-day advertisers and celebrities, this fear is showing up in the response they receive from social media to their brand communication. This is something AU Small Finance Bank and online food delivery platform Zomato recently experienced with their advertisements.
Sensex revisits 61K on gains in auto, energy stocks (07-11-2022)
Equity benchmark Sensex climbed over 230 points to reclaim the 61,000-mark on Monday, propelled by robust buying in auto, energy and metal stocks amid a firm trend in global equities. A strong rupee against the US dollar and persistent foreign capital inflows also supported the domestic equities, traders said. In a highly volatile session, the 30-share BSE Sensex ended 234.79 points or 0.39 per cent higher at 61,185.15. The index witnessed a high of 61,401.54 and a low of 60,714.36 during the session.
30 IndiGo planes grounded due to supply chain problem (07-11-2022)
IndiGo on Monday said that around 30 aircraft are grounded due to “supply chain disruptions” and the country’s largest airline is evaluating wet leasing of planes and other options to boost operations. At the end of September, the carrier — also the world’s seventh largest in terms of daily departures — had 279 aircraft in its fleet. It operates more than 1,600 daily flights and currently flies to 100 destinations, including 26 international ones.
Maruti Q2 turaround could boost auto sector stocks (07-11-2022)
Maruti’s results and the investor response indicate that quite a few stocks in the auto sector could be on the verge of a big bounce, says Devangshu Datta.
Why India Inc is moving to Dubai in droves (07-11-2022)
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
As Vi skips 5G launch, govt wants to see its biz plan (07-11-2022)
The Department of Telecommunications (DoT) has asked Vodafone Idea (Vi) to come back to it with a business plan soon in light of its decision not to launch 5G services for now (unlike its competitors Reliance Jio and Bharti Airtel) and in view of its assessment of the possible impact of BSNL’s impending launch of 4G in a few months and then 5G by August 15. “We are worried about Vi as we want to have three private players and one government player in the market. “The global trend now is to have two to three players.
Facebook follows Twitter, set for huge layoffs: Report (07-11-2022)
After job cuts at Twitter, Facebook’s parent company Meta is planning to begin “large-scale layoffs” this week in what could be the largest reduction to date at a “major technology corporation in a year that has seen a tech-industry retrenchment,” a media report said.
Banking Stocks: Time To Tread Cautiously (07-11-2022)
The sector seems set for a rally that may be somewhat temporary.