Dell lays off 5% of its global workforce: Report

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February 6, 2023

Dell Technologies Inc. has said it will lay off 6,650 employees, or about 5% of its global workforce, due to the decline in the personal computer market and a potential recession.

Dell has yet to disclose the departments most affected by the latest round of layoffs.

Co-COO Jeff Clarke stated in an internal memo that the company’s previous cost-cutting measures, such as a hiring freeze and travel curb, are no longer sufficient.

Dell stated that customers were reducing their information technology purchases in the quarter that ended on October 28 and reported revenue projections for the current quarter that fell short of analyst estimates.

About 55% of the company’s revenue comes from PCs.

According to preliminary data from industry and researcher IDC, Dell saw the biggest loss among significant firms, with a 35% decline compared to the same period in 2021.

When the company reports its fiscal fourth-quarter results on March 2, more information on the financial impact of the job cuts is expected.

To prepare for the uncertainties caused by the pandemic in 2020, Dell let go of an undisclosed number of employees.

Spotify CEO Daniel Ek launches healthcare startup Neko Health

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February 4, 2023

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Daniel Ek, the founder and CEO of Spotify, has launched a Swedish healthtech company called Neko Health, marking his entry into the healthcare industry.

According to a LinkedIn post by the company, Neko, launched after four years of intense research and product development, aims to produce a healthcare system that can assist people in maintaining their health through preventative measures and early detection.

Daniel co-founded Neko with Hjalmar Nilsonne, the founder of Watty, an AI-powered, smart home energy usage and insights platform in Stockholm, Sweden.

“In Sweden, healthcare costs have increased 50% faster than GDP since the year 2000, and in 28 of 32 EU countries, the increase has been even faster. This has resulted in an unreasonable burden on medical staff to do more every year and fewer resources than ever for prevention and public health,” Hjalmar said in the LinkedIn post.

He added that the company believes the solution is to move away from reactively treating the sick and move towards prevention and helping people stay healthy.

The Stockholm-based company said its strategy requires completely reimagining the patient’s experience and integrating the most recent developments in sensors and AI. The company claims to have developed a new medical scanning technology that enables extensive and non-invasive health data collection.

According to the company, Neko Body Scan’s first health centre in Stockholm can provide a complete health examination for people with skin and heart concerns.

“The scan is non-invasive, takes just a few minutes to perform, and is followed immediately by an in-person doctor’s consultation to discuss the results,” the company said, adding that all diagnostic results are ready during a single visit, so people don’t have to wait weeks.

Neko’s website says that it combines “more than 70 different sensors to capture a detailed picture of your health. The system is built by us from the ground up and is not available anywhere outside of our receptions.”

Neko Body Scan costs SEK 2,000 (about Rs 15,600). However, as per the company website, scans are currently sold out. But people can sign up for the waiting list.

Oberoi Realty buys eight acres land in Thane for Rs 192.31 crore

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February 3, 2023

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Oberoi Realty has acquired land of around 32.20 sq metres (about 8 acres) along Pokhran Road 2 from Blue Star (BSL) for Rs 192.31 crore, the company said in a BSE filing.

On February 2, 2023, it registered the conveyance for the said lands. The company’s existing lands, which measure about 2,40,140 sq metres (approximately 60 acres), are adjacent to the area it purchased from BSL.

Another recent land deal in Thane had Shoden Developers, a group of the House of Hiranandani group, buying 96,180 sq m of land at Kavesar from Kansai Nerolac Paints for Rs 655 crore.

Uplers announces appointment of Dhaivat Mehta as brand and marketing leader

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February 3, 2023

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Uplers, a talent platform for tech and digital talent, has appointed Dhaivat Mehta to lead the planning and execution of the marketing, brand, and communications functions.

The company stated that this move strengthens its executive leadership team and reflects its objectives to enhance global brand awareness and business growth, particularly in North America, Europe, Australia, and India. Uplers, which recently added this position, is creating a buzz in the market due to its remote and people-centric work culture.

Dhaivat was previously the Chief Marketing Officer of Cygnet Infotech. Before this, he was Capgemini’s global Brand Communications and Advertising Director.

Jaymin Bhuptani, Founder and CEO of Uplers, said, “At Uplers, we are super passionate about the opportunities that we are creating for Indian talent to join global companies. At the same time, we are helping global companies tap into the massive Indian talent ecosystem and help them hire amazing technology and digital talent from India. We truly believe that India, with its ever-growing talent ecosystem, can solve the global tech talent shortage. Dhaivat joins us at an important point in our journey. Uplers Talent Network is growing quickly, and we are starting to be seen as the go-to platform for Indian talent who are looking for full-time, remote, high paying jobs at global companies.”

“Dhaivat’s strong experience and insights will help us further realise our mission of simplifying remote hiring, making it easy for global companies to connect with India’s top tech and digital talent. We are determined to make both hiring and getting hired become simple, fast and reliable in this dynamic business environment,” said Nital Shah, Founder and COO of Uplers.

Mehta said, “Uplers fulfills the unmet need of global companies to source, vet, and hire top remote talent in a quick and seamless manner. Uplers is betting on India and Indian talent, and this is something which I’m personally passionate about. Whilst still in the early stages, the company has built a solid reputation among Indian tech and digital professionals, especially considering young India’s aspirations in the post-pandemic era. I’m excited to be a part of this outstanding team as we work towards our vision of building a talent ecosystem that’s made in India but delivering for the world.”

Lemon Tree Hotels signs a new hotel in Bharuch, Gujarat

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February 3, 2023

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Lemon Tree Hotels has announced its latest signing, Lemon Tree Hotel, Bharuch, Gujarat. Carnation Hotels Private Limited, a fully-owned subsidiary and the management arm of Lemon Tree Hotels Limited will manage the property’s management after it becomes operational in June 2025.

This property will feature 83 luxurious rooms, a restaurant, a banquet room, a gym, and other public areas. The distance between the property and the Vadodara and Surat airports is roughly 90 km, while the distance to the railway station is just 7 km. All India’s major cities are accessible from the property by public and private transport.

Speaking on occasion, Vikramjit Singh, president of Lemon Tree Hotels Limited, commented, “Though we are just at the beginning of February, this is our third signing this year, and we are looking at carrying this momentum forward in the coming months. We signed 19 hotels in the previous calendar year, and with 3 hotels already signed in CY23, we are looking to top that number this year through our asset-light expansion strategy.”

“We are happy to announce our expansion in Gujarat with our valued partner, The Maple Hospitality. We already have 5 operational hotels in the state, and another 2 upcoming, including this one. We have found that Gujarat has immense tourism potential and are looking at adding more hotels and resorts in the state to our existing portfolio”, he further added.

TimesPro, The Job Plus team up to launch certificate programme in Hotel and Hospitality Management

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February 2, 2023

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TimesPro and The Job Plus have partnered to launch the certificate programme in Hotel and Hospitality Management with placements for students willing to start their career journey in the hospitality industry.

With the help of this certificate programme, students will be given the practical knowledge and skills they need to excel in their field of interest and get experience by working with reputable brands.

Through TimesPro’s cutting-edge Interactive Learning (IL) platform, this five-month hybrid certificate programme in Hotel and Hospitality Management will be delivered in Direct-to-Device (D2D) mode.

It strengthens learners’ fundamental knowledge and conceptual understanding while providing practical experience in various hospitality disciplines, including accommodation, food and beverage service, and banqueting. Additionally, student employment opportunities may be in theme parks, tourism agencies, hotels, and restaurants.

The programme will include three months of on-the-job training with a stipend and two months of hybrid learning. The students will be placed with domestic and international hospitality companies after completing the five-month programme in various job roles, including Front Desk Associate, Steward, food and beverage service executive (Captain), bartender, and House Keeping Executive.

Anish Srikrishna, CEO, TimesPro, said, “The hospitality industry will witness phenomenal growth as India emerges as a preferred tourist destination and attract millions of international and domestic visitors. The certificate course in Hospitality and Hotel Management, launched by Times Pro in collaboration with The Job Plus and The People Network, will provide learners with skills that resonate with the changing industry requirements and employment opportunities across leading organisations.”

Freightify secures $12mn in a Series A round

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February 2, 2023

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Freight rate management SaaS platform, Freightify, has raised $12 million in Series A funding led by Sequoia Capital India. TMV and Alteria Capital also participated, along with existing investors Nordic Eye Venture Capital and Motion Ventures. Both debt and equity are involved in the round.

As it enters new geographies and functional areas, it will utilise the funds to improve its product offerings and add new functionalities, increase brand awareness globally, build channel partnerships, extend its global sales presence, and strengthen its marketing initiatives. Additionally, the company will actively hire throughout all regions, especially in Chennai.

“The freight forwarding industry is a cornerstone of the global trade economy, and despite the massive size, much of the industry remains constrained by manual processes and runs on paper, Excel sheets, and phone calls,” said Mayank Porwal, VP, Sequoia India.

“Freightify, a vertical SaaS platform, is solving this problem by helping freight forwarders automate rate management and make everyday operational workflows fast and efficient so that they can focus on serving customers and growing their business,” he added.

The company has previously raised $2.5 million in funding, bringing the total to $14.5 million.

Freightify’s SaaS platform allows freight forwarders to procure, manage, and provide quotes for freight pricing (along with any applicable ancillary fees) in less than two minutes. To better assist their customers, forwarders can set up a digital storefront. It features track and trace solutions that give freight forwarders instant access to real-time vessel locations and automatic milestones.

Currently, Freightify helps more than 200 freight forwarding companies that offer global logistics services across 45 countries to digitise their business.

In 2016, Raghavendran Viswanathan, who had previously worked in logistics, supply chain, and freight management for DHL and Panalpina, founded Freightify, which has its headquarters in Singapore and a development team in Chennai.

Raghavendran said his mission is to democratise technology for freight forwarders. “We solve their challenges through our comprehensive SaaS platform, giving them and their customers a live pricing platform like the ones used by travellers to compare airfares, showing real-time rates on a single screen.”

In addition to expanding in North America, Freightify has been rapidly expanding across Europe, Australia, and key regions in the Asia Pacific.

India’s unemployment rate falls to four-month low of 7.14% in Jan: CMIE

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February 2, 2023

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Data from the Centre for Monitoring Indian Economy (CMIE) showed on Wednesday that India’s unemployment rate dropped 7.14% in January from 8.30% the previous month, the lowest level in four months.

According to the report, the unemployment rate in urban areas dropped from 10.09% to 8.55% in January, while the rate in rural areas dropped from 7.44% to 6.48%.

Jammu and Kashmir had the highest unemployment rate among the states at 21.8%, followed closely by Haryana (21.7%) and Rajasthan (21.1%).

According to the report, the unemployment rate in January in Delhi was 16.7%, Goa was 16.2%, Assam was 16.1%, and Tripura was 16.0%.

It further revealed that unemployment was the lowest in states like Chhattisgarh at 0.5 per cent, followed by Odisha at 1.5 per cent, Tamil Nadu at 1.8 per cent and Madhya Pradesh at 1.9 per cent.

“It is safe to say that employment has improved over the last few quarters, however, we still have a long way to go given each year, in absolute terms, we have added nearly 20 million to the workforce, making the gap wider day by day,” TeamLease Services co-founder and executive vice president Rituparna Chakraborty said.

Aditya Narayan Mishra, managing director and CEO of CIEL HR Services, stated that January 2023 had the lowest unemployment rate over the previous three months, making it a good start to the year.

He said that various economic and geopolitical factors have been causing the unemployment rate to fluctuate over the past few months.

“IT, technology and startups have suffered in the last six months, however, we anticipate more jobs to be created over the months of 2023, which will reduce the rate further. Budget 2023 has also focused on job creation in agritech, education, tourism, infrastructure, healthcare, financial services, healthcare and MSME sectors, indicating that the unemployment rate may continue to fall in the following months,” he said.

Mishra added that initiatives to improve people’s skills would enable them to meet various sectors’ hiring requirements.

The Fern Hotels and Resorts launches The Fern Habitat, Jaipur

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February 1, 2023

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The Fern Hotels & Resorts, the leading environmentally sensitive hotel chain in India, has opened The Fern Habitat, Jaipur, its second unique apart’hotel. This is the company’s fourth hotel in Pink City and its 10th hotel in Rajasthan.

Speaking of the launch, Suhail Kannampilly, CEO of Concept Hospitality-The Fern Hotels & Resorts, said, “The Fern Habitat is our eco-friendly Apart’otel chain. This new brand compliments our other three Fern, Fern Residency and Beacon hotels in the fascinating city of Jaipur. We welcome our business and leisure guests to come and experience this new offering in Rajasthan’s state capital.”

Prashant Gupta, managing director of Anukampa Avas Vikas LLP, mentioned, “We are excited to have The Fern Habitat as our brand partner with Concept Hospitality to launch the second eco-friendly Fern Habitat branded hotel in India, offering our guests environmentally sensitive facilities that The Fern Hotels are well known for. Our hotel will additionally benefit from the strong sales presence the Fern brand enjoys with the leading online portals and the top travel agents, consolidators and corporate clients all over India.”

The Fern Habitat, Jaipur, is ideally located on Ajmer Road and is only a 15-minute drive from most of the city’s important business and tourist destinations. To accommodate up to 400 guests for conferences, training programs, meetings, events, and wedding functions, the resort offers 105 contemporary, comfortable, and spacious rooms, a multi-cuisine restaurant & bar, and 6 banquet & meeting rooms. Excellent alternatives for dining, shopping, and entertainment are nearby. This is an ideal place to stay in Jaipur because of its convenient location and range of facilities and amenities.

FM Sitharaman announces a number of measures to support start-ups in India

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February 1, 2023

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Finance Minister Nirmala Sitharaman on Wednesday announced in her budget speech proposed the extension of the date of incorporation for income tax benefits to start-ups from 31.03.23 to 31.3.24. The FM also proposed to increase the benefit of carrying forward losses for startups to 10 years.

“Entrepreneurship is vital for a country’s economic development. We have taken a number of measures for start-ups, and they have borne results. India is now the third largest ecosystem for start-ups globally and ranks second in innovation quality among middle-income countries,” said Sitharaman.

The budget measure is being implemented as the startup industry experiences a funding winter, with investors only investing about $25 billion in Indian startups in 2022, down from $42 billion across 1,500+ deals in 2021.

The Startup India Seed Fund Scheme received a budget allocation of Rs 283.5 crore from the government for the fiscal year 2022–23, an increase over the Revised Estimates of about Rs 100 crore in the previous budget. The Fund of Funds for Startups received a budget allocation of Rs 1,000 crore.

“To unleash innovation and research by start-ups and academia, a National Data Governance Policy will be brought out. This will enable access to anonymized data,” she said on Wednesday. Further, an Agriculture Accelerator Fund will be set-up to encourage agristartups by young entrepreneurs in rural areas. The Fund will bring innovative and affordable solutions for challenges faced by farmers, she said.

To encourage startups in the country, the government has taken several actions. Fund of Funds for Startups (FFS) scheme, Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) are implemented as part of the Startup India initiative to provide capital at various stages of a startup’s business cycle.

To nurture innovation and encourage private investment in the startup ecosystem, the government established the Startup India initiative in January 2016.

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