US-based IT firm Oracle is believed to have laid off approximately 12,000 staff in India, with another round of layoffs expected within a month, impacted employees said on Tuesday. Globally, the company has fired around 30,000 employees. "In India, around 12,000 employees have been laid off. The company is planning another mass layoff within a month," said two people impacted by the retrenchment, including one from the company's human resource department. The company has approximately 30,000 employees in India, including those affected by the layoffs. Oracle declined to comment on the development. Oracle, in an email sent to staff, said the employees were informed about certain organisational changes and "because of these changes, a decision has been taken to streamline the operations, and as a result, unfortunately, the position you currently hold will become redundant". The company has offered 15 days' salary to each employee who has completed a year...
Prime Minister Narendra Modi has underscored the BJP's hopes for a third term in the 2024 general election, saying the people of India trust the party that brought them this far.
In an interview with Financial times, PM Modi said, "They realise that our nation is on the cusp of a take-off... They want this flight to be expedited, and they know the best party to ensure this is the one which brought them this far."
In the wide-ranging interview, the Prime Minister also spoke of India's foreign policy that in a world that is "interconnected as well as interdependent", job creation, comparisons with China and the government's focus on Make in India.
His government, he said, has shown steady improvement in job creation and focussing on efforts that would make India the next big destination for investment.
"We aspire to create conditions where everyone sees value in being in India to invest and expand their operations here," the Prime Minister told FT.
"We envision a system where anyone from around the world feels at home in India, where our processes and standards are familiar and welcoming," he added.
This path is expected to be smoothed by the country's upward trajectory in terms of relations with world powers -- including the improved relation with the US and the increasing suspicion towards Beijing. .
"Our foremost guiding principle in foreign affairs is our national interest," PM Modi said. "This stance allows us to engage with various nations in a manner that respects mutual interests and acknowledges the complexities of contemporary geopolitics."
Regarding comparisons with China, where many feel India's growth spurt should be bigger than the current rate and concerns about corruption, administrative hurdles, and skills gap among the young, PM Modi said India cannot be compared to China.
"You have done a comparison with China, but it might be more apt to compare India with other democracies," he said.
"It is important to recognise that India wouldn't have achieved the status of the world's fastest-growing economy if the issues you've highlighted were as pervasive as suggested," he said. "Often, these concerns stem from perceptions, and altering perceptions sometimes takes time," he added.
Asked about Opposition allegations against his government that includes "targetting" of his detractors, PM Modi said there is a "whole ecosystem that is using the freedom available in our country to hurl these allegations" through media.
They have the right to do so, but "others have an equal right to respond with facts," he added.
from NDTV News- Special https://ift.tt/1igo9wN
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