SHANGHAI, Nov 27 (Reuters) – Chinese tech giant Alibaba (9988.HK) has cut a quantum computing laboratory and team from its research arm, donating both the lab and related experimental equipment to Zhejiang University, the company said on Monday. A spokesperson for Alibaba’s DAMO Academy, Alibaba’s in-house research initiative which included the lab, said the academy…
ByteDance’s gaming ambition has been an expensive, short-lived pursuit. In late 2021, the TikTok parent’s plans for video games came into the spotlight after it became one of the firm’s six core business units, posing a new threat to incumbents such as Tencent and NetEase and rising star MiHoYo. Nonetheless, after two years of tepid…
News Update ByStartupStory | November 24, 2023 DealShare, the Indian ecommerce platform, is witnessing significant leadership changes as two of its co-founders, Vineet Rao and Sankar Bora, have parted ways with the company. This development follows a series of layoffs and business restructuring undertaken by DealShare earlier this year. In July, Vineet Rao resigned from his…
The company decided to shut down its B2B operations earlier this year, resulting in layoffs of over 100 employees Vineet Rao and Sankar Bora, Co-founders of DealShare have parted ways with ecommerce company amid business restructuring followed by multiple rounds of layoffs this year. Rao, who resigned as CEO in July, initially aimed to collaborate…
Sinead Cruise and Lawrence White Nov 24, 2023 5.03am Barclays is working on plans to save as much as 1 billion ($1.9 billion), which could involve cutting as many as 2000 jobs, mainly in the British banks back office, a person with direct knowledge of the proposals told Reuters. Managers at Barclays, led by chief…
Barclays is reportedly contemplating a sweeping overhaul that could yield savings of up to 1 billion ($1.25 billion) to enhance profitability. According to Reuters, this initiative may involve shedding as many as 2,000 jobs, primarily in the bank’s back office. Leadership’s review and focus Barclays’ top management, led by Chief Executive C.S. Venkatakrishnan, is actively…
Nov. 24, 2023 12:42 am ET LG Electronics will set up a new sales and marketing entity to oversee international business, part of a series of restructuring moves aimed at boosting the South Korean consumer-electronics makers competitiveness and growth. The Seoul-based company said Friday that its newly established overseas sales and marketing company will manage…
Nov 24, 2023 3.00pm Citis local bosses have new reporting lines as the Wall Street banks sweeping reorganisation reshapes its offices around the world. Australia and New Zealand country head Mark Woodruff now reports to Hong Kong-based Angel Ng, who oversees Citis North Asian and Australian cluster, people familiar with the management overhaul told AFR…
Melbourne-based top 50 firm Morrows has promoted Kellie Stark to the position of principal within the business and tax advisory division. It said Ms Stark, who began at Morrows in 2015, specialised in strategic planning and implementation services, corporate structuring, asset protection, performance improvement and managing reporting, and taxation consulting. Director Graeme Marks said Ms…
Han Schaminee is general manager Navigation and Automation at Wrtsil Voyage. 8:16 Restructuring operations can set a downward spiral in motion thats hard to recover from, posits Han Schaminee. Recently, a friend forwarded me a (translated) letter a Finnish CEO had sent to his employees. The CEO reported some severe headwinds for the company, but…