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Amazon's massive layoffs; Founders cash in IPO
Amazon will cut tens of thousands of corporate roles in a major workforce reshuffle. This and more in today's ETtech Top 5.
Intel beats shareholder lawsuit over $32 billion stock plunge
Intel's stock price sank 26% last August 2, one day after the chipmaker announced more than 15,000 layoffs and suspended its dividend, hoping to save $10 billion in 2025.
Amazon shareholder sues board, Bezos over Blue Origin launch contracts
An Amazon shareholder has filed a lawsuit against founder Jeff Bezos and the Amazon board alleging directors failed to fully vet a decision to award launch contracts for the company's Project Kuiper satellite project to Blue Origin, Bezos's space company.
Till debt do us part: will startups go the PharmEasy way, and other top tech & startup stories this week
This week’s ETtech newsbreak on PharmEasy going for a rights issue at a price 90% lower than its peak valuation of $5.6 billion to repay debt has tripped alarm bells in several startups that have taken debt financing.
Tata to infuse $2 billion into super-app Neu; tech firms slashed over 1.5 lakh jobs this year
Tata Group is planning to infuse another $2 billion into its super app venture Tata Neu, news agency Bloomberg reported, citing people familiar with the matter. This and more in today’s edition of ETtech Top 5.
Twitter sues Indian govt; ED raids Vivo offices in money-laundering case
Last week we reported that the Indian government had given Twitter until July 4 to heed its takedown requests or lose immunity from prosecution for content posted on its platform. Twitter complied with the requests earlier this week but is now suing the government, saying some of the takedown orders amount to an abuse of power.
Making C-suite roles lucrative: In 2018, Elon Musk changed the way CEOs got paid
Many companies opened the floodgates for what they paid their leaders in 2021.
Amazon sues ED; tech IPOs 'need better pricing disclosures'
Amazon has sued the ED, accusing it of conducting a "fishing and roving inquiry" and asking the Delhi High Court to quash the probe.
Zomato’s $500m bet on Grofers, Sebi's missive on IPO ads
Zomato, which has twice tested—and aborted—its own grocery delivery service since the start of the pandemic, is now in talks to invest up to half-a-billion dollars in Grofers.
Sebi proposes new rules for startup IPOs; SoftBank eyes Indian fintech
India's markets regulator has made several proposals for startup IPOs in a paper it released on Tuesday.
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