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Employees opting for UPS would be eligible for an assured pension of 50 per cent of the average basic pay drawn over the last 12 months before the superannuation for a minimum qualifying service of 25 years.
General Motors’ recent layoffs, impacting over 1,000 employees, are part of a cost-cutting strategy amid software issues, leadership changes, and program cancellations. This reflects broader tech sector downsizing trends in 2024.
In its latest report, Hindenburg last week accused SEBI chief Madhabi and her husband Dhaval Buch of having held “stakes in both the obscure offshore funds used in the Adani money siphoning scandal.”
One of the major initiatives under consideration is Foxconn's new mobile phone assembly unit, known as Project Elephant, to be established in Karnataka. With a substantial investment of ₹22,000 crore, the project aims to create over 40,000 jobs.
The company's decision to implement these layoffs is part of a broader restructuring initiative aimed at reallocating resources to key growth areas and enhancing operational efficiency. Cisco has stated that this restructuring will affect about 7% of its total workforce.
Founded in 2014, Dunzo has faced severe cash flow problems, high losses, and difficulties managing expenses and payroll, leading it to shift focus from quick commerce to B2B services. Reliance, which holds over 25% of Dunzo and invested $200 million, might acquire the startup at a reduced valuation.
Hindenburg Research's latest report alleges SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, were involved in offshore funds tied to the Adani financial scandal. The report also highlights past ties between IIFL, involved in Wirecard’s scandal, and the Buchs’ investments. The SEBI chairperson has expressed willingness to provide financial documents and criticized the report as baseless. Political reactions include calls for a Joint Parliamentary Committee investigation into the allegations and SEBI's handling of the Adani case.
Delhi Police uncovers expired food scam, 7 arrested in repackaging racket
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Professor Indranath Gupta appointed Dean of School of Law at SRMIST; Renowned technology law scholar joins leadership team
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Punjab announces AI curriculum for government schools from next month
Bihar Board invites applications for JEE, NEET free coaching faculty; apply by July 10
Punjab announces AI curriculum for government schools from next month
Bihar Board invites applications for JEE, NEET free coaching faculty; apply by July 10
ICAI CA Foundation May 2026 results declared, Sakshi Jain secures AIR 1
Operation Amistad earns widespread praise in Venezuela for India's earthquake relief mission
IAS officer Lokhande Sitaram appointed MHA Additional Secretary, gets additional charge of CBSE
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