PayTM’s Layoffs, Doordarshan Going AI, Nishant Pitti’s Failed Acquisition Bid

Paytm braces for over 5,000 layoffs in a bid for efficiency, shaking up the fintech giant's workforce. Meanwhile, DD Kisan is set to revolutionize agricultural news with AI anchors Krish and Bhoomi debuting on May 26. LinkedIn finds itself under the MCA's microscope, reviewing fines for flouting beneficial ownership norms. In the travel sector, EaseMyTrip's Nishant Pitti withdraws from the GoAir acquisition bid, amidst the company's unexpected financial dip.

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What Matters

“Babul Ki Bidaai”: 5,000+ Layoffs Expected At Paytm Amid Push For Efficiency

In a surprising turn, Paytm is expected to lay off over 5,000 employees as part of a major cost-saving push, despite earlier assurances from founder Vijay Shekhar Sharma that no layoffs were on the horizon.

This move comes as the company aims to save INR 400-500 crore in employee costs, impacting a workforce that, in FY23, included an average of 32,798 employees globally.

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“AI Ka Doordrishya”: DD Kisan Joins The AI Brigade With 2 AI News Anchors Set To Debut On May 26

Get ready for a tech twist on DD Kisan as the channel debuts a fresh look and style on May 26, featuring AI Krish and AI Bhoomi, its new AI news anchors.

This innovation makes Doordarshan Kisan the first government TV channel in India to embrace artificial intelligence in such a dynamic role. Tune in to see how these digital hosts revolutionize the way we get our agricultural news.

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“Bhaari Mistake Ho Gaya”: LinkedIn Reviewing MCA Order After Fined For Flouting Beneficial Ownership Norms

LinkedIn is under scrutiny as it reviews an order from the Ministry of Corporate Affairs after being fined for violating beneficial ownership norms in India. The company's Indian arm and top executives face penalties under the Companies Act, 2013, sparking a compliance review.

LinkedIn assures its commitment to following local laws, stating, "We comply with the laws of the countries we operate in."

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“Kismet Ka Khel”: EaseMyTrip’s Nishant Pitti withdraws from GoAir bid

In a dramatic turn, EaseMyTrip’s CEO Nishant Pitti has withdrawn from the bid to acquire Go First, formerly GoAir. This joint bid with SpiceJet's Ajay Singh, totaling around Rs 1,600 crore, was one of two offers for the beleaguered airline.

The withdrawal coincides with EaseMyTrip reporting a Rs 15 crore loss, a stark contrast to their Rs 31 crore profit from the previous year, marking their first loss in three years.

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1. Delhi NCR-based EV fleet management startup Zypp Electric has secured $14 million from Japanese energy giant ENEOS. This fresh investment marks a significant boost for Zypp, coming from ENEOS Oil & Energy Pte Ltd, a subsidiary of the group.

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2. Nazara's Q4 profit shrank to INR 18 lakh, with operating revenue falling to INR 266.2 crore, impacted by charges for goodwill impairments and intangible assets totaling over INR 21 crore. Despite these setbacks, profit from continued operations rose to INR 17.1 crore.

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