The entire restructuring exercise – which is expected to be on for a few weeks more - is to focus more on its electric mobility business, where it is hiring “aggressively”, according to executives engaged in the recruitment process. The process has been ongoing across verticals including mobility, hyperlocal, fintech, and its used cars businesses.
Vijay Shekhar Sharma reiterated that the company continues to be on track to achieve operating profitability by September 2023.
Swiggy delivery personnel went on strike in Bengaluru last week and in Mumbai earlier.
Vedanta executives said at the conference that the company would target volumes of 240,000 sheets a month for its integrated display fab built at a $12 billion investment, and about 50,000 Wafer Starts Per Month (WSPM) from the semiconductor factory.
The brand is marketed by Scootsy Logistics Pvt Ltd and sells pulses, oils, spices, mixed seeds, flour, and other cooking essentials.
Eight out of 10 retail clients are seeking to deliver their business plans faster than ever and are also open to 100% offshoring to meet these goals, said Abhijit Niyogi, vice president and business unit head - retail UK & Europe, TCS.
While the pace of early-stage deals is still moderately higher, there is no rush to issue a term sheet (an agreement sent by an investor before finalising funding), indicating a reversal of sentiment from 2021 among the investor community.