India's quick-service restaurant (QSR) industry is showing early signs of demand recovery, but Macquarie highlights rising costs and intensifying competition from food-delivery aggregators as reasons for its cautiousness. According to Macquarie, post-fourth-quarter trends indicate a gradual improvement in dine-in demand across restaurant chains. Within the sector, Macquarie remains most constructive on franchise operators Devyani International, Sapphire Foods and Westlife Foodworld. However, the recovery remains uneven and is being overshadowed by inflationary pressures and the growing dominance of delivery platforms such as Zomato and Swiggy. The brokerage said same-store sales growth across the listed QSR universe is tracking broadly in line with or slightly ahead of fourth-quarter levels. However, restaurant brands continue to trail delivery aggregators in growth, highlighting a structural shift in consumer behaviour. To counter this trend, restaurant operators have increa...
Tech giant Google is laying off 12,000 employees, or 6 per cent of its workforce. Impacted by the job cut, a software engineer named Jeremy Joslin working in the tech giant since 2003 was laid off. The company gave him the news over an email.
In a tweet, Mr Joslin wrote, "It's hard for me to believe that after 20 years at #Google I unexpectedly find out about my last day via an email. What a slap in the face. I wish I could have said goodbye to everyone face to face."
In a LinkedIn post, Mr Joslin added, "I never thought it would happen like this."
On Friday, Google and Alphabet CEO, Sundar Pichai shared the difficult news with its employees. "We've decided to reduce our workforce by approximately 12,000 roles. We've already sent a separate email to employees in the US who are affected. In other countries, this process will take longer due to local laws and practices," the message read.
Mr Pichai said, "Over the past two years we've seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today."
Alphabet's job losses affect teams across the company including recruiting and some corporate functions, as well as some engineering and products teams.
The news comes during a period of economic uncertainty as well as technological promise.
from NDTV News- Special https://ift.tt/6SCOnWP
Comments
Post a Comment