Restructuring

German software firm SAP SE unveiled on Tuesday a $2.2 billion restructuring programme for 2024 that will affect 8,000 roles, as it seeks to better focus on growth in artificial intelligence (AI)-driven business areas.SAP said it expects generative AI to fundamentally change its business and has pledged to invest more than $1 billion by backing AI-powered technology startups through its enterprise capital firm Sapphire Ventures.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT…

Image Source : FILE CureFit, backed by Zomato has streamlined operations, resulting in 120 job cuts CureFit, a Zomato-backed fitness startup slashed 120 jobs earlier this week (in mid-January) in a restructuring exercise. As per the media report, the latest job cuts have impacted the workers across the brands of the company like Cultfit, Sugar.fit, Carefit among others…

The German business-software company said it will focus on business-related artificial intelligence. The German business-software company said it will focus on business-related artificial intelligence. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the…

Thunderful Group is joining the growing list of companies undergoing significant layoffs, as it’s announced it will be letting go of about 20% of its staff. In a press statement, Thunderful Group states that “actions will include both significant staff reductions and evaluation of divestment of non-strategic assets.” It then goes into how much money these cuts will make, which is rather ghoulish. The company states that it employs around 500 people, so a 20% cut will be around 100 people losing their jobs. “We have…

Happy Monday! Walmart-owned ecommerce behemoth Flipkart is undergoing significant restructuring, including an internal workforce reduction. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ Short-video apps and small-town content creators■ Startup India 2.0 coming soon■ Esports firms may cap player payoutsFlipkart may trim rolls by up to 7% in yearly refocus Flipkart, the country’s largest ecommerce firm, is in the thick of the action in the New Year. Even as it moves to close a billion-dollar…

The completion of Nasdaq-listed Russian tech company Yandex's restructuring is expected to be postponed until early 2024, three sources familiar with the negotiations told Reuters on Monday.Often referred to as "Russia's Google", tech firm Yandex was one of the few Russian companies with the potential to become a global business until Moscow sent troops into Ukraine in February 2022.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Senior Management ProgrammeVisitIIM…

Telefonica proposed a workforce restructuring plan that will affect 5,124 jobs in Spain as part of its reorganization.The Spanish telecommunications company on Monday told unions that it aims to implement a labor force adjustment plan by 2026, due to organizational, technical and production needs, a spokesperson from trade union UGT told Dow Jones Newswires.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Telefonicaproposed a workforce restructuring plan that will…

Cryptocurrency firm Gemini, the largest creditor of bankrupt crypto lending firm Genesis, sued Digital Currency Group (DCG) and its CEO on Friday after a dispute over a restructuring deal for the venture capital firm's troubled unit.DCG and Gemini, the two most prominent players in the crypto industry, have clashed several times over the past few months following the collapse of Genesis, which had filed for bankruptcy in January. Gemini has accused DCG and CEO Barry Silbert of "fraud" and "deception." The dispute came…

Credit: CC0 Public Domain Research funding determines the course of science and thus shapes future knowledge. However, funding allocation is inherently biased, non-optimal, and costly. Researchers from the University of Lübeck in Germany and other German research institutions propose a new way to restructure grant allocation processes that include an initial lottery for researchers to submit funding applications, followed by a…

Short-video-based social media app Chingari has laid off around 60 employees as part of its restructuring plan, the company said on Tuesday.Sources said that the total number of fired employees constitutes about 25 percent of the Chingari's total workforce but the company said that it has laid off only 20 percent of its workforce.When contacted, a Chingari spokesperson said, "We deeply regret the need for these workforce reductions of 20 per cent as a part of Chingari's organisational restructuring. These were one of the…