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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Times Group entity says it is ‘streamlining’ operations.
Times Internet, which houses the digital properties of the Times Group, has laid off nearly 100 staffers, according to an executive at the group, who requested anonymity.
In an official statement to The Morning Context, a Times Internet spokesperson says the move is a result of “streamlining” operations, and it is a “one-time exercise” and a “right and necessary decision towards building a strong and sustainable business”.
The affected staffers form 5% of the workforce at Times Internet, according to the statement. “All affected employees are receiving full severance irrespective of tenure or contract with the company,” says the spokesperson. …
The two startups are seemingly doing well, leaving affected employees wondering about the real reason for the job cuts.
The beleaguered edtech startup is cycling through a revolving door of auditors as it tries to defend itself from lawsuits, livid lenders and layoffs.
The chairman emeritus of the troubled media conglomerate is once again calling the shots—firing people and overturning business plans.
