Shreyas Srinivasan, Paytm's Chief Product Officer and head of consumer products, has left the company after Zomato acquired Insider.in. Srinivasan, who founded Insider.in, said the deal came at a perfect time for him to take a break and explore new interests. The acquisition, valued at INR 2,000 Cr, has helped Zomato grow its going-out business.
Freshworks is laying off 660 employees, about 13% of its workforce, as part of a global restructuring aimed at improving efficiency and aligning with key business goals. The changes, which should be completed by December 2024, will cost the company between $11 million and $13 million. The company plans to focus on Employee Experience (EX), AI, and Customer Experience (CX), offering severance and career support to affected employees.
The Supreme Court ruled that people with a light motor vehicle (LMV) license can now drive transport vehicles weighing up to 7,500 kg. The decision, made by a five-judge bench, also tackled insurance companies' refusal to cover accidents involving these drivers, pointing out there was no evidence showing that LMV license holders cause more accidents.
The Bombay High Court has ordered a Maharashtra Police officer to pay Rs 2 lakh to a man who was wrongfully arrested. Another police constable, the complainant in the case, was told to pay Rs 50,000 to his brother-in-law. The court found the arrest illegal because the charges were wrong and proper procedure was not followed. The case involved defamation and wrongful detention during a family dispute over marital cruelty.
Ichnos Glenmark Innovation (IGI) announced a 75% response rate for its experimental cancer drug ISB 2001 in a Phase 1 clinical trial for relapsed/refractory multiple myeloma. The drug showed good safety results, with no dose-limiting side effects. Full results will be shared at the American Society of Hematology Annual Meeting in December 2024.
India has ordered fintech companies to stop using PAN cards without permission to create customer profiles or access personal information. This move, led by the Indian Cybercrime Coordination Centre (I4C), comes in response to growing concerns over the misuse of PAN data and follows the Digital Personal Data Protection Act, 2023. The goal is to protect citizens' data and ensure that companies get proper consent before using personal details.
Zerodha founder Nithin Kamath warns that the Financial Independence, Retire Early (FIRE) movement overlooks hidden costs. While saving aggressively is important, Kamath points out the financial and emotional challenges of retiring early. He also suggests that the formula for building a nest egg might not be realistic because of rising future expenses, emergencies, and the psychological effects of early retirement.
Amazon is requiring employees to work from the office five days a week starting in January. AWS CEO Matt Garman said that in-person collaboration is crucial for innovation. Employees who don’t want to return to the office are encouraged to find another job. While some workers are on board, many are frustrated by the added commute time and stress, questioning if it’s more effective than remote work.
Three labourers lost their lives after a bridge under construction for the bullet train project collapsed in Anand, Gujarat. The fire department managed to rescue two workers, but one died later in the hospital. An investigation is underway to figure out what caused the collapse. The bridge is part of the Mumbai-Ahmedabad Bullet Train Project, designed to connect the two cities with high-speed rail.
A LinkedIn post has gone viral after a job seeker shared a surprising requirement: a job listing demanding candidates own an iPhone but offering only a ₹6,000-₹8,000 monthly stipend.