Tag Archives: cuts

BENGALURU, Jan 16 (Reuters) – India’s ShareChat, a short video-sharing platform backed by Google (GOOGL.O) and Temasek, said on Monday it let go of around 20% of its employees, as startups face increasing pressure from investors to cut costs. “There is a growing market consensus that the current global economic downturn would be a much more sustained one, and we thus have to, unfortunately, seek more cost savings by reducing our team size,” ShareChat Chief Executive Officer Ankush Sachdeva… Source link

By Aditya Kalra BENGALURU (Reuters) -India’s ShareChat, a short video-sharing platform backed by Google and Temasek, said on Monday it let go of around 20% of its employees, as startups face increasing pressure from investors to cut costs. “There is a growing market consensus that the current global economic downturn would be a much more sustained one, and we thus have to, unfortunately, seek more cost savings by reducing our team size,” ShareChat Chief Executive Officer Ankush Sachdeva said… Source link

ShareChat, a short video-sharing platform backed by Google and Temasek, said on Monday it let go of around 20 per cent of its employees at a time when startups are facing increasing pressure from investors to cut costs. “There is a growing market consensus that the current global economic downturn would be a much more sustained one, and we thus have to, unfortunately, seek more cost savings by reducing our team size,” ShareChat Chief Executive Ankush Sachdeva said in an internal memo seen by… Source link

ShareChat, the Indian social media startup backed by Twitter, Google, Tiger Global and Temasek, has laid off 20% of its workforce — or over 400 employees — just a month after eliminating more than 100 roles. The startup informed its employees about the decision on Monday morning. It deactivated access to accounts and wiped out all data of impacted employees, a person familiar with the development told TechCrunch. In December, ShareChat laid off nearly 5% of its… Source link

[unable to retrieve full-text content]Google-backed ShareChat cuts 20% of workforce  Yahoo Finance Source link

So much for that Tesla stock (TSLA) bounce. Shares of the EV maker fell more than 4% in pre-market trading on Friday amid fresh U.S. price cuts for the Model 3 and Model Y. The stock had rallied about 9.5% in the past five sessions as traders speculated a bottom was forming after a 65% decline in 2022. Tesla cut the Model 3 base version by $3,000 to $43,990, according to an update on its website. The Model 3 Performance variant saw a price cut of $9,000 to $53,990. As for the Model Y Long… Source link

Tesla (TSLA) shares are climbing higher today despite a mixed slew of news out of one of its most important markets, China. Reports over the weekend detail a number of protests at Tesla showrooms, as recent Tesla buyers complained about the automaker’s decision to cut prices on Friday. The price cut was the second decrease in the past three months, as Tesla tries to boost demand in the competitive Chinese market. Reuters reports Tesla also cut prices in Australia, Japan, and South… Source link

Tesla (TSLA) stock fell early Friday after the company cut the price on two of its models in China, the automaker’s second cut in three months as it battles waning demand in the country. Tesla cut prices on its China Model 3 by 13.5%, which now starts at $33,515, and its Model Y by 10%, which now starts at $37,899, according to calculations from Reuters. Shares of the company fell more than 7% at the market open on Friday following the news, setting a new 52-week low for the automaker. Tesla… Source link

By Jeffrey Dastin and Uday Sampath Kumar (Reuters) -Amazon.com Inc’s layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday. The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company’s e-commerce and human resources organizations, he said. The cuts amount to 6% of Amazon’s roughly 300,000-person corporate workforce and represent a… Source link

No Federal Reserve officials thought it’d be appropriate to begin cutting rates in 2023, and officials worried that easing in financial conditions could complicate the central bank’s efforts to bring down inflation, according to internal discussions at their policy meeting three weeks ago. Minutes from the central bank’s December policy meeting released Wednesday showed while Fed officials welcomed easing October inflation data, they stressed that it would take substantially more evidence… Source link