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News on Medial
Stripe is laying off 300 people, but says it still plans to hire in 2025
TechCrunch
·
6m ago
Medial
Stripe is laying off 300 employees primarily in product, engineering, and operations roles, despite plans to increase its workforce by 17% to about 10,000 by year-end. The restructuring aims to ensure the company has the right personnel to execute its plans effectively. Previously, in November 2022, Stripe had cut 14% of its workforce. The company's valuation stands at $70 billion, and it continues to focus on growth and restructuring over going public.
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Scale AI lays off 200 employees: ‘We ramped up our GenAI capacity too quickly’
The Verge
·
23d ago
Medial
Scale AI is laying off 14% of its workforce, approximately 200 employees, as part of a restructuring effort. This move comes a month after Meta's significant investment in the company. CEO Jason Droege cited that the rapid expansion of their generative AI capacity led to inefficiencies and redundancies. The company plans to refocus on core areas and streamline operations to adapt better to market changes, with intentions to hire in Enterprise and Public Sector in the latter half of 2025.
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Mysuru layoffs: NITES threatens protest; Infosys says testing norms communicated to trainees
YourStory
·
5m ago
Medial
Infosys faced criticism after laying off over 300 trainees who failed internal tests at its Mysuru campus. The IT workers’ union NITES threatened protests if the government doesn't act against the perceived injustice. Infosys maintains that performance assessments were clearly communicated as part of their training program, which is globally recognized. They provided severance pay and support to affected trainees. NITES insists on accountability and justice, considering the layoffs unfair and threatening protests if ignored.
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Physics Wallah lays off 120 employees
Economic Times
·
1y ago
Medial
Edtech startup Physics Wallah is considering laying off 70-120 employees, representing less than 0.8% of its workforce, due to performance concerns. The company plans to hire 1,000 additional employees in the next six months. Physics Wallah, which offers coaching for engineering and medical entrance exams, became a unicorn last year after raising $100 million in funding. It aims to generate a revenue target of Rs 2,500 crore in FY24, with Rs 1,900 crore from its core operations.
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Infosys to recruit up to 20,000 fresh graduates in FY25; CFO says employee utilisation rate at 85%: Report | Mint
Livemint
·
1y ago
Medial
Indian IT company Infosys plans to hire between 15,000 to 20,000 fresh college graduates in the 2024-2025 financial year. Despite a challenging job market, the move highlights their intent to continue expanding their workforce. In the previous financial year, Infosys hired 76% fewer freshers. The company has adopted an agile hiring strategy, conducting recruitments both on and off-campus. Rival company Tata Consultancy Services (TCS) also plans to recruit nearly 40,000 fresh graduates in the same financial year. Infosys experienced a decrease in employee strength, yet saw an increase in net profit and revenue in Q1FY25.
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Tech layoffs 2025: Turmoil as ADM trims 700 jobs, Salesforce slashes 1,000 after Microsoft, Meta, and Amazon axe
Livemint
·
6m ago
Medial
In 2025, major tech and corporate firms, including ADM and Salesforce, are implementing significant layoffs amid market challenges. ADM plans to cut 700 jobs globally to save costs due to market uncertainties. Salesforce is laying off over 1,000 employees while hiring for AI initiatives, with laid-off staff able to reapply internally. Microsoft, Meta, and Amazon are also reducing jobs, citing performance and economic reasons, contributing to widespread industry employment turmoil.
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ReshaMandi's uncertain future after $40 million loss
Inshorts
·
1y ago
Medial
Hit by a cash crunch and revenue challenges, ReshaMandi started laying off employees in June 2023. It offered employees a ‘chance’ to work without salaries for three months. The employees who did so found out that there was no cash for any of the pending salary payments. These employees are still awaiting their dues.
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Rivian says it is laying off 10 percent of its workforce as EV woes deepen
The Verge
·
1y ago
Medial
Electric vehicle manufacturer Rivian announced that it is laying off 10% of its workforce due to concerns about slower EV sales. The decision was made following the company's fourth-quarter earnings report, in which it stated that it is unlikely to produce more vehicles this year than it did in 2023. The layoffs are expected to affect over a thousand employees, primarily salaried workers. Rivian cited economic uncertainties and high interest rates as reasons for its flat production outlook for 2024, with plans to produce 57,000 vehicles. The company will also be unveiling its second-generation R2 vehicle next month.
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Infosys let go of 240 trainees after assessment, offers upskilling programmes
Economic Times
·
3m ago
Medial
Infosys has laid off 240 trainees after they failed internal assessments, despite additional preparation support and multiple attempts. Previously, 300 trainees were let go for similar reasons. The company offers affected trainees free upskilling programs through NIIT and UpGrad, along with one-month's pay and outplacement services. Financial results for Q4FY25 showed a 12% decline in net profit, with revenue rising by 8%. Infosys plans to hire 20,000 freshers in fiscal 2026.
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Bullish on India’s UPI, neo-banking and credit growth story: Razorpay
Business Today
·
1y ago
Medial
Razorpay, a full-stack payments and banking platform for businesses, is bullish on India’s fintech story on the back of growth gems like UPI, neo-banking and credit, which happen to be its fast-growing businesses in India. “The growth of payments has been exponential in the last few years. There were 10 billion UPI payments last month and that speaks of the kind of scale we’ve achieved. There are 200-300 million Indians who are paying via UPI but we have a population of more than 1 billion. While the payments pool has expanded from 30 million people to now 300 million people, it still has some distance to go,” Shashank Kumar, Founder & Managing Director, Razorpay told Business Today.
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US Payments Giant Stripe Goes Invite-Only In India
Inc42
·
1y ago
Medial
Stripe, the US-based fintech company, has announced its plans to expand its infrastructure to support more users by the second half of 2025. This comes as the company faces challenges in onboarding new users in India due to the evolving regulatory landscape in the country. The move follows reports of Stripe exploring a joint venture with State Bank of India to enter the Indian market.
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