Estimated read time 1 min read
Business & Economy

Swiggy To Lay Off 400 Employees To Cut Costs Ahead Of IPO: Report

Food delivery platform Swiggy is set to lay off 400 employees in a fresh round of job cuts, reports said. This comes a year after the company announced it was “bidding goodbye to 380 talented Swiggsters” as part of a restructuring exercise. According to reports, the second round of layoffs, which has been initiated as cost-cutting measure, will impact around 7% of the food delivery giant’s workforce of 6,000 employees. Workers in tech, customer service and corporate roles are likely to be hit the hardest by the job cuts. 

Estimated read time 1 min read
Business & Economy

Russian Oil Saves India’s Import Costs By About $2.7 Billion

India saved roughly $2.7 billion by importing discounted Russian oil in the first nine months of this year, according to calculations based on government data, helping it support economic growth and easing pressure on its trade deficit.

Estimated read time 1 min read
Business & Economy

Number of IPOs Reached a Multi-year High Due to Favorable Valuations and Pricing

So far in the current fiscal, 166 companies have gone public through IPOs, compared to 164 in the previous full year. In the last 10 years, the highest such new public offerings were in 2017-18 when 188 companies had gone public, data showed. These numbers include large companies, which list on the main board of the bourses, and SMEs.