The Coronavirus or Covid-19 pandemic has brought the world to a standstill, at least a major part of it, if not all. With countries religiously following lockdown for months, this stagnant period has shut down many small businesses and caused almost irreparable financial damage from which the citizens and economies are trying to limp back to normalcy. As workplace and businesses, both online and offline, start to open slowly, and in a staggered manner, many are worried about their safety at the workplace. Also, the question about how this would help the economy return to a strong position looms large. Work from home: Good or bad? It is heartwarming to see how organisations across the world are trying to find their own solutions to this never-before-encountered situation. Some organisations, like the micro-blogging site Twitter, were in favour of work from home and Twitter recently announced that its employees can work from home even after social-distancing norms are eased-up. However, … [Read more...] about Can a 4-day working week be the answer to revive the failing economy and strike work-life balance?
Gbu financial life
NEW DELHI: Consumer loan finance firm Home Credit India on Thursday said it has reduced its headcount by 1,800 employees due to slowdown caused by COVID-19 crisis. "The unprecedented coronavirus pandemic has affected every aspect of our life. It has impacted each one of us, our families, our customers, partners and businesses. These trying circumstances have compelled us to revisit and re calibrate our business strategy keeping sustainability and business continuity in mind," the company said in a statement. "Unfortunately, this includes reducing the size of our team to meet the demands of these exceptionally challenging times. After careful deliberations, we have taken the difficult decision to reduce our headcount by 1,800 employees in India," it said. It is a tough decision and as an organization and the company will try to help the impacted people in getting new opportunities, it said. For the next 12 months, it said, Home Credit India's talent acquisition team will actively … [Read more...] about Home Credit India lays off 1800 employees
Manish Mimani, CIO of Aviva Life Insurance has quit the company to start his own cybersecurity venture. Gurgaon-based Mimani’s new firm is called Protectt.ai Labs, at which he’ll be the founder and CEO. Protectt.ai Labs will focus on creating solutions in the enterprise security suite. The startup also aims to address challenges such as financial fraud, advanced malware attacks and more.“Our goal is to leverage AI & ML to build next generation mobile security and real time fraud management products. Protectt.ai has recently launched its B2B cyber offerings and B2C offerings will hit the market by mid of August. Our team size will expand to 120 in the next 6 months, and we are building a team of young technology enthusiasts. Our campus recruitment program has been announced. While we have launched our operations in India, we will soon be setting up centres in USA & Singapore,” Mimani reveals.On the transition from a CIO to CEO of a company, Mimani … [Read more...] about Manish Mimani CIO of Aviva LI quits to start a cybersecurity startup
A slew of factors from the implementation of the Goods and Services Tax, emergence of a set of technology-backed start-ups improving efficiency of logistics companies and existing players expanding operation buoyed by the government's massive spending plan for infrastructure has brought the sector into the limelight, making it more attractive than ever to private equity investors. … [Read more...] about PE investors put logistics sector in high gear
I have been reasonably confident that life will come back to near normal pretty quickly, says ED & CIO of HDFC AMC. Why don’t you share the big picture with us first and then I will get into the specifics.These are clearly unprecedented times. But yes, there is now some more clarity in views. The current year will be an outlier year and it will be an extremely difficult year for the economy because for two months almost half the economy did not function and that will lead to a significant economic impact; analysts now estimate between 5% to 10% GDP contraction in the current year and very broadly, those numbers appear to be realistic. It will have a significant fiscal impact as well because there will be severe loss of revenues. Corporate profitability will also be hit sharply, especially in sectors where the fixed costs component and discretionary element of sales is high. The good news is that the external side of India looks to be very strong and India is very uniquely … [Read more...] about India may see a trade surplus after 10-12 years; to keep currency stable: Prashant Jain