29 May, 2020
The latest episode of the TechThisWeek podcast brings you news and insights on hand-picked developments in the startup and enterprise technology ecosystems in India. Our top stories for the week are:
- Startup and IT sector companies continue to trim people costs through lay-offs and furloughs. BookMyShow, Lendingkart, Uber and CarDekho announced lay-offs as Covid-19 impacted revenues across sectors. IT majors IBM and Cognizant also announced significant job-cuts especially in the middle-management.
- IT majors as well as food technology unicorn Zomato saw top deck reshuffles. Wipro named Capgemini veteran Thierry Delaporte its first foreign-origin CEO who will replace Abidali Neemuchwala. Cognizant COO Srinivasan Veeraraghavachary joined a slew of top executives who have left the company since Brian Humphries took over as CEO in April 2019. Zomato elevated its CEO of food delivery business Mohit Gupta to co-founder in a bid to retain top management.
- In phase 4.0 of the national lockdown, the government of India backed contact tracing app for Covid-19, Aarogya Setu continued to be in the news. On Tuesday, MeitY opened up the Android source code for the app.
- Startup deals shrunk to almost half of last week with an overall amount of $50 million raised by seven companies.