Restructuring
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US Airline Shuts Down Operations Abruptly, Tells Passengers "Not To Go To The Airport"
A US-based airline has suddenly ceased all operations, leaving passengers shocked and stranded as they're urged not to go to the airport.
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WazirX Parent Zettai Urges Singapore Court to Review WazirX Restructuring, Extend Moratorium
Zettai, the parent company of crypto exchange WazirX, has approached the Singapore High Court seeking a reassessment of its financial restructuring plan. The filing also requests an extension of the ongoing moratorium, which has protected both Zettai and WazirX from creditor lawsuits while the company works on its reimbursement strategy.
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Citigroup To Cut 3,500 Tech Jobs In China Amid Global Restructuring
Citigroup is set to cut 3,500 tech jobs in China as part of a global effort to streamline operations and reduce costs, focusing on enhancing risk management and data governance.
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WazirX Restructuring Plan Rejected By Singapore High Court; Crypto Firm to Appeal Decision
WazirX users affected by the $230 million (roughly Rs. 1,970 crore) hack are set to face further delays before their money is reimbursed. On Wednesday, the Singapore High Court rejected the crypto exchange's restructuring scheme, despite it receiving approval from creditors in April. WazirX requires the court's permission to execute the restructuri...
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Indian Techie Shares How He Went From Rs 6 Lakh To Rs 18 Lakh To Rs 0 Salary In A Month
One young Indian developer took to Reddit to share how his dream turned into a nightmare after a job offer from a US startup was withdrawn just as he was set to join, leaving him unemployed.
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World Health Body Restructures, Cuts Budget After US Withdrawal
The World Health Organization tried to stabilise its finances at its annual assembly which ended, but still remains well short of reaching its already reduced target.
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TikTok Shop US Employees Told to Work From Home Amid Layoff Fears. Read Full Memo
The move is part of a restructuring of its operations as the company is facing immense regulatory pressures and business challenges in the US.
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Bajaj Auto Secures Rs. 5,431 Crore Loan to Support KTM AG's Restructuring Efforts
Bajaj Auto International Holdings BV will secure a loan of up to 566 million Euros or Rs. 5,431 crore for KTM AG's insolvency plan.
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WazirX Reimbursement Plan Faces Delay as Singapore Court Extends Existing Moratorium to June 6
WazirX has been directed by the Singapore High Court to complete some more documentation work before giving it the go-ahead to implement its restructuring scheme. For now, the Singapore court has extended its moratorium cover to WazirX and Zettai to 6 June.
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Japan's Panasonic To Cut 10,000 Jobs: Reasons For Layoffs And What's Next For The Tech Giant
Panasonic layoffs: Of the 10,000 employees slated to lose their jobs, half will be workers in Japan.
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OpenAI Negotiates with Microsoft for New Funding, Future IPO: Report
OpenAI and Microsoft are revising the terms of their partnership that will enable the ChatGPT maker to go public at a future date. A reset of the contract is crucial to a restructuring of the startup in which Microsoft has poured billions more since.
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OpenAI Plans to Cut Microsoft Revenue Share After Restructuring: Report
OpenAI plans to share a smaller fraction of revenue with Microsoft as it moves ahead with its restructuring. OpenAI said the percentage of revenue shared with Microsoft would drop by at least half by the end of this decade.
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Microsoft Is Key Holdout for OpenAI Restructuring Plan
OpenAI has walked back part of its effort to create a more conventional for-profit company. Microsoft, which has invested $13.75 billion (roughly Rs. 1,15,878 crore) in the startup, remains the biggest holdout among investors as the ChatGPT maker tries to restructure, according to several people familiar with the matter.
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OpenAI Can’t Dodge Elon Musk’s Fraud Claims in Restructuring Suit
US District Judge Yvonne Gonzalez Rogers in Oakland, California, on Thursday ruled that Elon Musk can pursue fraud claims in the complaint he filed against OpenAI last year. She also declined to dismiss an unjust enrichment claim against OpenAI and Microsoft Corp., a major investor in the startup.
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Apple Reportedly Moves Robotics Team Out of AI Division Ahead of Anticipated Restructuring
Apple is reportedly breaking up its artificial intelligence (AI) division and relocating two key product operations. As per the report, the Cupertino-based tech giant is currently moving its secretive robotics group to the hardware engineering division, after Siri was moved to the software engineering organisation in March. The process of taking aw...
-
US Airline Shuts Down Operations Abruptly, Tells Passengers "Not To Go To The Airport"
A US-based airline has suddenly ceased all operations, leaving passengers shocked and stranded as they're urged not to go to the airport.
-
WazirX Parent Zettai Urges Singapore Court to Review WazirX Restructuring, Extend Moratorium
Zettai, the parent company of crypto exchange WazirX, has approached the Singapore High Court seeking a reassessment of its financial restructuring plan. The filing also requests an extension of the ongoing moratorium, which has protected both Zettai and WazirX from creditor lawsuits while the company works on its reimbursement strategy.
-
Citigroup To Cut 3,500 Tech Jobs In China Amid Global Restructuring
Citigroup is set to cut 3,500 tech jobs in China as part of a global effort to streamline operations and reduce costs, focusing on enhancing risk management and data governance.
-
WazirX Restructuring Plan Rejected By Singapore High Court; Crypto Firm to Appeal Decision
WazirX users affected by the $230 million (roughly Rs. 1,970 crore) hack are set to face further delays before their money is reimbursed. On Wednesday, the Singapore High Court rejected the crypto exchange's restructuring scheme, despite it receiving approval from creditors in April. WazirX requires the court's permission to execute the restructuri...
-
Indian Techie Shares How He Went From Rs 6 Lakh To Rs 18 Lakh To Rs 0 Salary In A Month
One young Indian developer took to Reddit to share how his dream turned into a nightmare after a job offer from a US startup was withdrawn just as he was set to join, leaving him unemployed.
-
World Health Body Restructures, Cuts Budget After US Withdrawal
The World Health Organization tried to stabilise its finances at its annual assembly which ended, but still remains well short of reaching its already reduced target.
-
TikTok Shop US Employees Told to Work From Home Amid Layoff Fears. Read Full Memo
The move is part of a restructuring of its operations as the company is facing immense regulatory pressures and business challenges in the US.
-
Bajaj Auto Secures Rs. 5,431 Crore Loan to Support KTM AG's Restructuring Efforts
Bajaj Auto International Holdings BV will secure a loan of up to 566 million Euros or Rs. 5,431 crore for KTM AG's insolvency plan.
-
WazirX Reimbursement Plan Faces Delay as Singapore Court Extends Existing Moratorium to June 6
WazirX has been directed by the Singapore High Court to complete some more documentation work before giving it the go-ahead to implement its restructuring scheme. For now, the Singapore court has extended its moratorium cover to WazirX and Zettai to 6 June.
-
Japan's Panasonic To Cut 10,000 Jobs: Reasons For Layoffs And What's Next For The Tech Giant
Panasonic layoffs: Of the 10,000 employees slated to lose their jobs, half will be workers in Japan.
-
OpenAI Negotiates with Microsoft for New Funding, Future IPO: Report
OpenAI and Microsoft are revising the terms of their partnership that will enable the ChatGPT maker to go public at a future date. A reset of the contract is crucial to a restructuring of the startup in which Microsoft has poured billions more since.
-
OpenAI Plans to Cut Microsoft Revenue Share After Restructuring: Report
OpenAI plans to share a smaller fraction of revenue with Microsoft as it moves ahead with its restructuring. OpenAI said the percentage of revenue shared with Microsoft would drop by at least half by the end of this decade.
-
Microsoft Is Key Holdout for OpenAI Restructuring Plan
OpenAI has walked back part of its effort to create a more conventional for-profit company. Microsoft, which has invested $13.75 billion (roughly Rs. 1,15,878 crore) in the startup, remains the biggest holdout among investors as the ChatGPT maker tries to restructure, according to several people familiar with the matter.
-
OpenAI Can’t Dodge Elon Musk’s Fraud Claims in Restructuring Suit
US District Judge Yvonne Gonzalez Rogers in Oakland, California, on Thursday ruled that Elon Musk can pursue fraud claims in the complaint he filed against OpenAI last year. She also declined to dismiss an unjust enrichment claim against OpenAI and Microsoft Corp., a major investor in the startup.
-
Apple Reportedly Moves Robotics Team Out of AI Division Ahead of Anticipated Restructuring
Apple is reportedly breaking up its artificial intelligence (AI) division and relocating two key product operations. As per the report, the Cupertino-based tech giant is currently moving its secretive robotics group to the hardware engineering division, after Siri was moved to the software engineering organisation in March. The process of taking aw...
