Musk and a team of advisers have been weighing a range of scenarios for job cuts and other policy changes at San Francisco-based Twitter, the people said, adding that the terms of the headcount reduction could still change. In one scenario being considered, laid off workers will be offered 60 days’ worth of severance pay, two of the people said.
The company's bookings - which reflect robustness of future revenue - declined 2% year-on-year, with financial services, largest vertical by business size, growing by 1.6% in constant currency during the quarter.
Chargebee cofounder and chief executive officer Krish Subramanian, based in The Netherlands, announced the layoffs on LinkedIn an hour before midnight on Wednesday, referencing an internal email he’d sent to colleagues.
Market leaders PhonePe and Google Pay are seeking an extension while Paytm wants the rules to take effect “as per the timeline”. Officials told us the government is monitoring the situation but won’t intervene.
Direct-to-consumer sleep-tech startup, The Sleep Company, has raised Rs 177 crore, led by Premji Invest who now owns roughly 15%-20% stake in the startup, sources aware of the deal told ET.
AI lending platform Upstart has laid off 7 per cent of its total workforce (around 140 employees), as it faces weakening demand for loans in the US due to significant hikes in interest rates.
Sarah Personette, who was chief customer officer and ad boss, tweeted on Tuesday that she resigned last week, adding to advertisers' uncertainty over how the social media company will change under Musk.