business news

Global consulting giant McKinsey & Co. has unveiled plans to cut nearly 360 jobs worldwide, affecting about 3% of its specialist and technically-skilled workforce. This move comes as McKinsey adjusts its capabilities to align with shifting client priorities amid a slowdown in demand for its services.

Suzie Cheikho, a longtime work-from-home (WFH) employee at Insurance Australia Group, has found herself at the center of a public debate after being terminated following an extensive period of performance monitoring. The incident has raised concerns about workplace surveillance and the impact on employees' mental health.

In a significant development for India's healthcare sector, Warburg Pincus, a prominent global growth investor, has made a substantial investment in Appasamy Associates Pvt. Ltd., the leading Indian brand specializing in ophthalmic equipment and intraocular lenses (IOLs). This investment marks a major milestone as the largest healthcare sector investment by Warburg Pincus in India.

At Intel's recent Vision event, the tech giant introduced its latest innovation in artificial intelligence (AI) processing, the Gaudi 3 chip. This unveiling marks Intel's strategic move to challenge Nvidia's stronghold in the semiconductor market, particularly in AI-powered applications.

Peyush Bansal, co-founder of India-based eyewear chain Lenskart, recently announced plans to establish a mega factory in Bengaluru. In a LinkedIn post, Bansal specified the need for 25 acres of land within 60 kilometers of Kempegowda Bengaluru International Airport for this venture. He invited companies with suitable factory land near the airport to contact Lenskart at megafactory@lenskart.in.

Elon Musk, the CEO of Tesla, has emphasized the significance of India's transition to electric vehicles (EVs) by stating that it's a "natural progression" for Tesla to provide electric cars in India, just like in other countries. This statement comes amid Tesla's strategic plans to establish a manufacturing presence in India and contribute to the country's burgeoning electric mobility landscape.

Surinder Chawla, the Chief Executive Officer and Managing Director of Paytm's banking unit, Paytm Payments Bank, has tendered his resignation citing "personal reasons." The company announced that Chawla's resignation would take effect from June 26. However, no details were provided regarding a potential successor to Chawla.

In a significant development, Taiwanese electronics giant Pegatron is reportedly in advanced discussions with The Tata Group to transfer control of its sole iPhone manufacturing plant in India to the Indian conglomerate. This move, backed by iPhone creator Apple, marks a strategic shift that could impact Apple's supply chain diversification efforts.

In an effort to alleviate its pilot shortage crisis, Vistara, a subsidiary of the Tata Group, has announced plans to source first officers from Air India. However, this move may not immediately resolve the ongoing challenges faced by the airline.

A passenger traveling on an Air India flight from Delhi to Bengaluru recently voiced dissatisfaction after discovering a broken window seat despite paying extra for it. The incident, which occurred on April 4, prompted the airline to address the issue with the help of an engineer.