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.
The resignation and departure of Bangladesh Prime Minister Sheikh Hasina amid violent protests have significantly disrupted India-Bangladesh trade, halting truck movement at key border points. The crisis has led to an estimated $300 million loss in export trade and nearly stalled exports. Businesses in Indian border states report over 80% decline. The situation might also delay a potential free trade agreement between the two nations.
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A special Air India flight brought 205 people, including 6 infants, from Dhaka to New Delhi on Aug 7 morning, an official said. Meanwhile, IndiGo said its special flight flew from Dhaka to Kolkata on Aug 6 to bring back Indian nationals from Bangladesh.
The 30-share BSE Sensex jumped 1,092.68 points to 79,852.08 in early trade. The NSE Nifty surged 327 points to 24,382.60.
For the fiscal year 2024-25, as of July 31, 2024, the number of registered MSMEs stands at 63.41 lakh.
The 30-share BSE Sensex plummeted 2,222.55 points or 2.74% to settle at over a month's low of 78,759.40, marking its worst single-day retreat since June 4, 2024. Nifty also saw its worst single-day fall since June 4, 2024, when markets crashed more than 5% due to general election results.
The 30-share BSE Sensex soared 388.15 points, or 0.47%, to hit an all-time intra-day high of 82,129.49 in early trade. The broader Nifty of NSE scaled the record 25,000 level for the first time, rising 127.15 points, or 0.50%, to 25,078.30.
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