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Zomato lays off 600 employees: Report

EntrackrEntrackr · 3m ago
Zomato lays off 600 employees: Report
Medial

Zomato lays off 600 employees: Report Zomato has reportedly given pink slips to as many as 600 customer support associates within a year of hiring them. This comes at a time when the food and grocery delivery major is witnessing slowing growth in its core food delivery vertical and mounting losses in its quick commerce arm, Blinkit. Moneycontrol was the first to report this development. Zomato had hired around 1,500 employees under its Zomato Associate Accelerator Program (ZAAP) a year ago for customer support roles, offering them the opportunity to be elevated to positions across sales, operations, program management, support, supply chain, and category teams within a year. However, a large number of these contractual workers did not receive renewals at the end of their tenures. The report added that Zomato’s affected workers were offered one month’s salary as compensation and were terminated without any notice period, citing reasons such as poor performance, lack of punctuality, among others. Entrackr has reached out to Zomato for comments.

Microsoft's AI Copilot to add new features next month

Economic TimesEconomic Times · 1y ago
Microsoft's AI Copilot to add new features next month
Medial

Microsoft will be introducing new features to its AI assistant Copilot to enhance user prompts and generate better responses. The new features include Auto-complete, which completes prompts if users are unsure how to finish them, and a rewrite feature that transforms basic prompts into more comprehensive ones. Copilot is currently being used by 500 Indian organizations, including Cognizant, Axis Bank, and Zomato. Microsoft's Office Suite applications are reported to offer significant productivity gains, such as reduced time spent on email and improved outcomes in document creation. A recent report co-authored by Microsoft and LinkedIn highlights the increasing importance of AI skills in hiring decisions, with 92% of Indian knowledge workers using AI tools at work.

Ageism Haunts Some Tech Workers in the Race to Get Hired

WiredWired · 1y ago
Ageism Haunts Some Tech Workers in the Race to Get Hired
Medial

Ageism continues to plague the tech industry, making it difficult for older workers to find new job opportunities. Despite the overall health of the US economy, tech companies have been laying off employees in large numbers. The issue of age discrimination in hiring has been highlighted in cases such as RelevantDB and IBM. Older workers often face bias due to stereotypes and perceptions about their ability to fit into a company's culture. These challenges, compounded by the increasingly competitive job market, have pushed older tech workers to adapt their job search strategies by building personal brands, networking, and emphasizing their contributions beyond their resumes. The ageism issue persists as tech workers with extensive experience struggle to find full-time employment and navigate automated hiring processes. Human connections and personal relationships can still play a crucial role in securing job opportunities. Despite the difficulties, older workers are finding ways to stay engaged and showcase their skills through side projects and initiatives. The solution to ageism in tech remains elusive, but job seekers are encouraged to be their authentic selves and continue persevering in their search for meaningful employment.

Exclusive: Aakash lays off employees amid strategic shift

EntrackrEntrackr · 10m ago
Exclusive: Aakash lays off employees amid strategic shift
Medial

Byju’s-owned Aakash Educational Services Limited (AESL) has laid off 80 to 100 employees over the past couple of months, according to sources familiar with the matter. “Aakash has fired anywhere between 80-100 employees, including senior and middle-level executives, who were impacted by the layoffs,” said one source, requesting anonymity. Several long-time employees, some with over 4 years of service, were also laid off in the past few weeks. An AESL spokesperson stated, “As a high-performance organization, our performance reviews, talent development interventions, and consequence management follow a biannual cycle. We are introducing new business models as part of the Aakash 2.0 strategy, which includes creating new roles, consolidating existing ones, and aggressively hiring new talent. Unlike other players in the category, we expect to be net hirers by the end of this year.” The spokesperson did not disclose the specific number of employees affected by the layoffs. This marks the first instance of layoffs at Aakash since its acquisition by Byju’s in April 2021, when the Bengaluru-based edtech giant spent around $940 million to acquire the company. However, the Chaudhry family, founders of AESL, refused to swap their remaining stake, citing governance concerns. Earlier this year, both companies withdrew their merger petition, continuing to operate independently under the Think and Learn brand. In April, Aakash appointed Deepak Mehrotra as its managing director and chief executive officer. The company is expected to surpass Rs 2,300 crore in operating revenue in FY23, according to its valuation report, though it has yet to file audited financial statements for FY23 and FY24.

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