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Amazon to lay off 10K employees amid 'largest job cuts' in firm's history

Multinational tech giant Amazon plans to lay off around 10,000 people in its corporate and technology sectors starting as soon as this week, the New York Times reported.

When executed, this would be the largest job cuts in the company’s history.

Blackstone launches platform to expand foray in Indian data centre segment

Private equity player Blackstone said on Tuesday it is expanding its data centre business in India with the launch of Lumina CloudInfra. The company aims to add 600 megawatts of critical IT loads to its capacity in the next two years.

Lumina CloudInfra is building two data centres in Mumbai and one in Chennai, aiming to make them operational by April 2023. The company will expand its data centre presence in three additional centres—Pune, Hyderabad and the national capital region (NCR)--within a year, said a senior executive.

Tech Mahindra to come out with moonlighting policy this month

IT services major Tech Mahindra is in the final stages of framing its moonlighting policy, which may allow employees to take up side gigs if doing so would not hinder the work at the company, The Economic Times reported. It may roll out the policy this month.

Tech Mahindra joins a list of several IT services majors which are now framing or have already put in place a policy to allow their employees to take up gigs that are not directly in conflict with the parent firm

Piramal-Bain's IndiaRF invests Rs 550 cr for majority stake in Impresario

India Resurgence Fund (IndiaRF), an India-focused investment platform backed by Piramal Enterprises Limited and Bain Capital, has invested Rs 550 crores in food and beverage (F&B) company Impresario Entertainment and Hospitality Private Limited. With this, IndiaRF has become the majority shareholder of Impresario. Funds will be used by the company to fuel the further expansion of Impresario’s business.

Vedanta says priority is to complete doubling Electrosteel capacity to 3 MT

Vedanta Group on Tuesday said it was focused on completing the expansion of Electrosteel Steels Ltd to three million tonnes from 1.5 million tonnes amid rumours about the company's exit from the steel business. Anil Agarwal-led Vedanta Group scooped Electrosteel Steels four years ago

Tata Consumer and Tata Coffee shareholders approve merger at Nov 12 vote

Shareholders of Tata Consumer, Tata Coffee and TCPL Beverages approved the scheme of arrangement between the three companies, the voting for which was held on November 12

In March, Tata Consumer’s board had approved the demerger of Tata Coffee's plantation business into TCPL Beverages & Foods, a wholly-owned subsidiary of Tata Consumer Products. It also approved the merger of Tata Coffee's remaining business, consisting of its extraction and branded coffee business, with Tata Consumer Products.

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