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Shell to Cut Staff due to Fall in Crude Prices

Shell which globally employs 100,000 people has over 3500 employees in India has decided to cut 6500 jobs globally due to falling crude oil prices which may result in downsize in India as well. The company announced its plan to cut staff and profit after 37% year on year decline on its net profit. Other … Continue reading Shell to Cut Staff due to Fall in Crude Prices

Paytm to Increase Headcount to 5,000 by end March, Hire 1,900 People

In order to expand business and give neck to neck competition to rival snapdeal, Paytm plans to hire 1,900 persons to make its total headcount to 5000 over the next three quarters. out of 1900 two-third will be hired in operations and the rest in product engineering. Also, it is setting up two more offices … Continue reading Paytm to Increase Headcount to 5,000 by end March, Hire 1,900 People

Delhi HC Slams Ola

Delhi High court slammed ANI Technologies Pvt Ltd operated app-based Ola cab on violating the Supreme Court ruling 2001. As its taxis operate on diesel and not on CNG. The Delhi HC warned Ola if they won’t stop polluting the capital by using diesel cabs, the service will be forced to shut down and January … Continue reading Delhi HC Slams Ola

Ola to Raise Funds Again in Order to Keep Pace with Rival Uber

After raising $400 million in April, Ola is again in talks with its existing investors Softbank, Tiger, DST to raise $500 million which will make this $2.5 billion company worth $4.5 billion. After funding, Ola is planning to launch discounting schemes and new business including cafe, buses and grocery. The deal is estimated to be … Continue reading Ola to Raise Funds Again in Order to Keep Pace with Rival Uber

Nestle Replaces Etienne Benet with Narayanan

Owing to the Maggie controversy, Etienne Benet over saw the company’s operations. The swiss food giant Nestle decided to to transfer India MD Etienne Benet to its headquarters in Switzerland and will be replaced by Suresh Narayanan, chairman and CEO of Nestle Philippines. Other Important Headlines MNC’s fire top executives who fail to perform. Brookfield … Continue reading Nestle Replaces Etienne Benet with Narayanan

Indian Pharma Co. Lupin to Buy US Co. Gavis for $880m

Indian pharma company Lupin will make an expensive deal of buying less known US company Gavis for $880 million for its portfolio of specialised products and is hoping to safeguard sales in the all important US market which contributes nearly half of Lupin’s revenue. Other Important Headlines Flipkart and Snapdeal seeks to raise billion-$ this … Continue reading Indian Pharma Co. Lupin to Buy US Co. Gavis for $880m

Radio Mirchi Seeks to Strengthen North Network, Seeks to Buy ‘Oye’ in 4 Cities

The Times Group-run Entertainment Network India(ENIL)’s Radio Mirchi operating in 32 cities across the country now claims to have received approval from I&B ministry to buy TV Today’s Network ‘Oye’ in Amritsar, Jodhpur, Patiala and Shimla. Further ENIL is hoping to get approval to buy Delhi, Mumbai and Kolkata as well. Other Important Headlines Kinnevik … Continue reading Radio Mirchi Seeks to Strengthen North Network, Seeks to Buy ‘Oye’ in 4 Cities

Toshiba Caught up in Country’s Biggest Accounting Scandal of $1.2B Since 2011, Top Executives Resign

The 140 year-old Japanese company is caught up in country’s biggest accounting scandal amounting $1.2 billion since 2011. It is believed that unrealistic standards set by top executives led to the scandal. Also, the president along with two other executives resigned from their position and withdraws from taking the responsibility. Other Important Headlines Infosys posted … Continue reading Toshiba Caught up in Country’s Biggest Accounting Scandal of $1.2B Since 2011, Top Executives Resign

Tata Invested in Around 10 Companies, Mostly Ecommerce

In an interacting session with the students of Great Lakes Institute of Management at its 11th convocation, Tata Sons chairman Emeritus Ratan Tata revealed they have invested in around 10 companies mostly ecommerce including Snapdeal and Xiaomi in the past few months. Also, he recently invested in Coimbatore based startup firm, Ampere Vehicles. The amount … Continue reading Tata Invested in Around 10 Companies, Mostly Ecommerce

Barclays to Fire More Than 30,000 Employees Within Two Years

After firing its chief executive Antony Jenkins this month, Barclays plans to cut 30,000 jobs within two years. After The Finance Conduct Authority’s supervisory team conducted 186 visits to Barclays in 2014, the most among the biggest British banks. The bank sought the only way to address its chronic underperformance and double its share price … Continue reading Barclays to Fire More Than 30,000 Employees Within Two Years

SquadRun targets to create million jobs and 100 customers by 2020

SquadRun is a one-year old start up company which has identified pain points of internet companies and help deliver results via games by outsourcing the task to freelancers who play in exchange of currency on mobile wallets which can be redeemed later by using Paytm or PayU. Till now 40,000 people have downloaded this app, … Continue reading SquadRun targets to create million jobs and 100 customers by 2020

Tata Steel Identifies 720 Potentially Redundant Positions in UK

Global steel giant Tata Steels in planning to refocus on high-value segments like aerospace, as it tries to rebuild its business strategy which will end up to cut up of 720 jobs maily at its UK facility. On the Rotherham-based bar business, the firm is underperforming in the face of commodity grade steel being imported … Continue reading Tata Steel Identifies 720 Potentially Redundant Positions in UK

Adidas Appeals DIPP to Set Own Stores in India

Three years after the Adidas’s US brand Reebok was forced to close its all stores in India, Adidas has filled an application with the Department of Industrial Policy & Promotion(DIPP) for setting up fully owned stores in the country. Adidas, which competes with the likes of Nike and Puma is looking to reach 1,000 stores … Continue reading Adidas Appeals DIPP to Set Own Stores in India

Myntra Goes Global to Search for New CEO

As Mukesh Bansal, founder and CEO of Myntra.com has moved to a larger role at parent company Flipkart and is busy with taking the country’s largest ecommerce firm to the next level. Myntra, the country’s largest online fashion retailer is looking overseas candidates with proven Internet background and experience of setting up businesses of scale. … Continue reading Myntra Goes Global to Search for New CEO

Samsung Lost its Market to Local and Chinese Smartphone Players

Samsung’s smartphone market share fell from 28% to 21.5% in India in the quarter to June. The company, however, didn’t lose its position and still leads the overall handset market in the country with 18.9% share. Micromax maintained its second position with 12.6% share of the overall mobile phone market in the quarter to June. … Continue reading Samsung Lost its Market to Local and Chinese Smartphone Players

MY Kim to Replace Soon Kwon, India Head LG as the Market Slows Down

LG Electronics is to replace its managing director Soon Kwon, with MY Kim, formerly global head of marketing for the $56-billion firm’s television and audio business. LG Electronics has called this first-ever mid-year change of management on the back of poor sales growth during kwon’s tenure and a slowing market. Despite of the fact that … Continue reading MY Kim to Replace Soon Kwon, India Head LG as the Market Slows Down

CSR of Aditya Birla Group Launched Women Empowerment Programme

Aditya Birla Group’s unit, Aditya Aluminium Company has launched a women empowerment programme in the district of Odisha, Sambalpur. The initiative taken by CSR is to promote self help groups (SHGs) and help the rural women for starting venture like phenyl production, poultry farming and tailoring. According to COO of Aditya Aluminium, they are concerned … Continue reading CSR of Aditya Birla Group Launched Women Empowerment Programme

Banned Maggi Production Affected 1500 Workers

Maggi crisis has lead to the production of the Maggi to stop. This impacted not only the company revenue, but also the workers. Around 1500 workers are involved in producing maggi which are impacted by the ban on the production. The Company has not fired any of the employees but trying redeploy them. Not only … Continue reading Banned Maggi Production Affected 1500 Workers

Fixed Component of Salary Increased by Wipro

Wipro has raised the fixed component of employees at mid and junior level and reduced the variable components. Company has reduced the quarterly performance linked compensation (QPLC), where they have increased the fixed components. QPLC of junior level employees of band B1 and B2 has reduced from 10% and 12% of CTC to 5% and … Continue reading Fixed Component of Salary Increased by Wipro

Nestle would Take Time to Recover from Maggi Controversy

Maggi controversy has done a great damage to not only the revenue of the Nestle but also great damage to the goodwill of the company. Maggi contributed about 20-30% to the total sale of Nestle. The average monthly sale is estimated to be Rs 200 crore. According to the analyst, Prabhudas Lilladher, Amnish Aggarwal and … Continue reading Nestle would Take Time to Recover from Maggi Controversy

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