Monday, May 15, 2023

Tech layoffs: Cred-owned Happay lays off 15% workforce

Cred-owned startup Happay has reportedly laid off 15% of its workforce. Cred's Kunal Shah acquired the business expense management solutions Happay in 2021. The company has laid off the employees in a restructuring exercise. As reported by The Economic Times, the exact number of impacted employees is not known right now. However, the company has reportedly laid off about 10 to 15% workforce. https://ift.tt/ARcfKoY

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How India's IT services sector, which employs 6M people, contributes ~7% of GDP, and generates $300B+ annually, is shedding jobs as AI automates formulaic work (Financial Times)

Financial Times : How India's IT services sector, which employs 6M people, contributes ~7% of GDP, and generates $300B+ annually, is s...