Skip to main content

Recession Fear 😨

 A recent wave of layoffs has impacted the workforce of a prominent tech company, Oracle, as over 3,000 employees were let go. This information was revealed by some of the affected workers.

  1. Amazon has also carried out layoffs in the Indian market.In recent months, several prominent tech companies, including Facebook, Google, Amazon, and others, have implemented large-scale layoffs, resulting in the termination of thousands of employees. This trend has not been limited to the tech industry alone, as companies like Vodafone and Twitter have also undergone significant downsizing efforts. Unfortunately, the wave of jobThe source further reports that the layoffs have impacted multiple teams within the company, including marketing, engineering, accounting, legal, and product departments. This information was shared by a former employee who is familiar with the situation. Although Oracle has not officially confirmed the layoffs, multiple employees knowledgeable about the matter have allegedly disclosed the details. It remains uncertain whether the affected employees will receive severance pay to compensate for their job loss. cuts doesn't seem to be subsiding, as reports of layoffs from various firms continue to emerge on a regular basis. One such instance is Oracle, which recently made headlines by letting go of over 3,000 employees, as reported by Business Insider.According to the same source, Oracle has not only carried out layoffs but has also implemented cost-cutting measures by freezing raises and promotions for its employees. The company has reportedly conveyed to its staff that they should not anticipate similar benefits for the remainder of the year. These actions indicate that Oracle may be facing financial challenges and seeking ways to reduce expenses.
  2. The source further reports that the layoffs have impacted multiple teams within the company, including marketing, engineering, accounting, legal, and product departments. This information was shared by a former employee who is familiar with the situation. Although Oracle has not officially confirmed the layoffs, multiple employees knowledgeable about the matter have allegedly disclosed the details. It remains uncertain whether the affected employees will receive severance pay to compensate for their job loss.

Labels:

Comments

Post a Comment

Popular posts from this blog

West Bengal Chief Minister's Nephew Summoned by CBI in Primary School Teachers' Recruitment Scam

Mamata Banerjee's nephew, Abhishek Banerjee, who is a Member of Parliament (MP) from West Bengal. The Central Bureau of Investigation (CBI) has issued a summons to Abhishek Banerjee to appear for questioning regarding a scam related to the recruitment of primary school teachers in the state. Abhishek Banerjee received the notice from the CBI after the Calcutta High Court rejected his request for relief against an order allowing the CBI and the Enforcement Directorate (ED) to interrogate him in connection with the scam. The CBI's anti-corruption branch, which has been investigating the case, has directed Abhishek Banerjee to appear at their Kolkata office on Saturday morning. Abhishek Banerjee stated that despite not receiving prior notice, he will comply with the summons as he believes he has done nothing wrong. He also challenged the CBI to arrest him if they have any evidence of corruption or misconduct. He expressed his willingness to cooperate with the investigation. Abhish
Post a Comment
Read more

"Unveiling the Hidden Treasures: Sanskrit's Ancient Scientific Knowledge and Its Modern Resurgence"

  In ancient times, India was a knowledge society that excelled in various fields like mathematics, medicine, metaphysics, and astronomy. Interestingly, much of this knowledge was documented in Sanskrit, one of the oldest languages in the world. However, it's intriguing to note that this knowledge later resurfaced as "discoveries by Western scientists" after several thousand years. The chairman of the Indian Space Research Organisation (ISRO), S. Somnath, recently emphasized the significance of Sanskrit at a university event. He highlighted that Sanskrit encompassed a wide range of subjects, including poetry, logic, grammar, philosophy, science, technology, and mathematics. Mr. Somnath mentioned a Sanskrit book called "Surya Sidhanta," which discussed the solar system and planetary movements. It's fascinating to learn that the knowledge recorded in Sanskrit spread to different parts of the world, only to return to India as discoveries made by Western scienti
Post a Comment
Read more

Study Reveals Indian Firms Have Highest Corporate Debt Vulnerability in Asia

  According to a study conducted by the International Monetary Fund (IMF), Indian firms have the highest corporate debt vulnerability among Asian countries. This vulnerability refers to the likelihood of defaulting on debt payments. The study indicates that a significant portion of corporate debt in India, China, and Thailand is held by firms with low interest coverage ratios, which signifies their susceptibility to default. In the case of India, around 31.1 percent of corporate debt is held by firms that are at risk of default. An additional 32.6 percent of debt falls into the category of firms with interest coverage ratios between one and four, implying that this debt could potentially become vulnerable to default if borrowing costs rise. Thailand has 28.03 percent of its corporate debt concentrated in firms with interest coverage ratios below one, while in China, it is 25.8 percent. On a global scale, approximately 16.8 percent of corporate debt is held by firms susceptible to defau
Post a Comment
Read more