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    ZESTMONEY LAYOFFS

    IPO-bound cos wary after poll results; NBFCs’ balancing act

    Happy Friday! New-age firms planning to go public are moving cautiously as stock market volatility remains a concern after the 2024 general election results. This and more in today’s ETtech Morning Dispatch.

    No NCLT stay on Byju's Friday EGM; reality check for laid-off startup CXOs

    Four investors — led by Prosus — moved the NCLT, seeking a stay on the planned EGM to effectively block the rights issue. The matter will now be heard on April 4.

    Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salaries

    Several CXOs laid off by startups are struggling to find new roles as traditional companies are unwilling to hire them at the inflated salary levels and fancy designations that attracted them to startups in the first place. This situation has led to a growing pool of 'unemployed CXOs' in the job market. Many of these executives are finding it challenging to secure new positions due to their above-market compensation packages and lofty titles. The influx of resumes from these individuals, who are seeking roles in large companies but are deemed overpriced, reflects this trend.

    Govt may tweak rules for AI firms, LLMs; FY23 financials for Unacademy, Myntra

    The amendments, to be notified soon by the IT ministry, could mandate that platforms that use artificially intelligent algorithms or language models to train their machines, are free of biases.

    FY23 earnings for Unacademy, Myntra; Union Bank staff spurn digital currency perks

    FY23 results for Myntra, ZestMoney, Curefoods, Unacademy, Sugar Cosmetics, and Kapiva presented a mixed picture on Wednesday, with surging revenues being mostly offset by wider losses. This and more in today's ETtech Top 5.

    ETtech Exclusive: Paytm lays off over 1,000 across units amid cost-cutting

    At least 10% on payroll hit in one of year’s biggest startup layoffs. Paytm spokesperson disputed the number of fired employees, but acknowledged layoffs, pointing out that it intends to save 10-15% of staff costs.

    The Economic Times
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