Kalyan Krishnamurthy, CEO of Walmart-owned ecommerce platform Flipkart, has assured the company’s employees that there will not be any job cuts or salary reduction due to the economic downturn created by the Covid-19 pandemic, The Mint reported. Krishnamurthy announced this during a virtual town hall, which saw the participation of over 8,000 employees of the company. He said Flipkart will honour offer letters and internships extended to potential employees. Krishnamurthy also said that the company is abiding by the rules laid down by the central government, during the 21-days lockdown in the country.
MeitY to rejig IT Act
The Ministry of Electronics and Information Technology (MeitY) is looking out for ideas to rebuild the Information Technology (IT) Act, 2000, The Economic Times reported. The government has reached out to stakeholder ministries, including the ministry of home affairs and department of telecom for their inputs, the report said. The report revealed that following MeitY's demand, the department for promotion of industry and internal trade has written to industry bodies for feedback. Industry lobby group national association of software and service companies (Nasscom), the confederation of Indian industry (CII), federation of Indian chambers of commerce and industry (FICCI), and Assocham received an email from DPIIT last week, it added.
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MoMagicTechnologies appoints Soumya Ranjan Acharya as VP for revenue and growth
Noida-based value-added services (VAS) company MoMagic Technologies has appointed advertising industry veteran Soumya Ranjan Acharya as its vice president for revenue and growth, effective April 8, 2020. In his new role, he will spearhead MoMagic’s business expansion plans across India and other geographies, according to a statement. Prior to MoMagic, he served as the business head at ZenithOptimedia India, a division of Publicis Groupe. He has also served companies like Madison World, Maxus, and Dentsu, among others.
upGrad onboards 4,000 learners online; aims to double the count
Online education platform upGrad has on-boarded 4,000 learners online at Rs 2.4 lakhs average revenue per user (ARPU) in March 2020. The platform aims to double its learners to 8,000, with the increase in the programme portfolio, as it will include more live sessions than recorded classes, industry mentorship talks from veterans like chairman and MD, HUL, Sanjiv Mehta, and non-executive chairman, Infosys Nandan Nilekani, according to the statement.