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The <a href="http://www.businessinsider.in/searchresult.cms?query=telecom+industry&amp;sortorder=effectivedate">telecom industry</a> will witness<a href="http://www.businessinsider.in/searchresult.cms?query=mergers+and+acquisitions&amp;sortorder=effectivedate"> mergers and acquisitions </a>in billions but one of the things that will take a huge hit is jobs. 
 
Amid the consolidation wave in the telecom sector, there is going to be huge <a href="http://www.businessinsider.in/searchresult.cms?query=job+losses&amp;sortorder=effectivedate">job losses</a>. 
 
“There is no doubt that staff at the head office and circle (offices) are on shaky ground," an HR head told ET, putting 10,000-25,000 jobs at risk. 
 
He said the consolidation will also hit those who are indirectly employed and the number could rise to as much as one lakh. 
 On an average, the <keyword id="34971" type="ORGANIZATION" weightage="20" keywordseo="telecom-industry">telecom industry</keyword> employs more than three lakh people to its workforce directly and indirectly. In the M&amp;As process, about one-third could lose their jobs. 
 
The year 2017 is going to see some big consolidations such as Idea Cellular and Vodafone Plc, Aircel and Reliance Communications (RCom), etc. 
 
"I cancelled my foreign trip with my child because I'd rather have some money saved up just in case," a middle-level executive at a telecom firm told ET. 
 
As per various reports, <a href="http://www.businessinsider.in/searchresult.cms?query=idea&amp;sortorder=effectivedate">Idea</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=vodafone&amp;sortorder=effectivedate">Vodafone</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=reliance+communication&amp;sortorder=effectivedate">RCom</a> and Aircel employ a total 48,000 people. 
 
Most affected departments could be circle chiefs, human resources and finance teams at the central and service area levels. 
 
 "This is such a terrible time. There is no way to show a strong result when there is an operator offering services for free," one of the circle chiefs at one of the merging companies told ET. 
 
There has been no official word from Vodafone, Idea, TELENOR, Aircel and RCom on this.

Telecom industry is going to witness massive layoffs; over 25,000 pink slips loom

<ul class="summary-list"><li>Allison Hemming started "pink-slip parties" in the early aughts after the dotcom bust.</li><li>The events helped laid-off tech pros network and land new jobs.</li></ul>Gather round, ye laid-off Gen Zers and millennials, and put down your phones. For this is a tale about how people of yore — Gen Xers and younger baby boomers — found reemployment after getting the ax.Our story begins with the bursting of the <a href="https://www.businessinsider.com/heres-why-the-dot-com-bubble-began-and-why-it-popped-2010-12">dot-com bubble in 2001</a>: Internet euphoria faded, venture capital dried up, and stocks slumped. Back then, like now, tech workers lost their jobs en masse.One of those laid-off employees was Allison Hemming, a plucky New Yorker with a side hustle as a tech-talent scout. One spring evening, Hemming planned a get-together with some friends who'd also lost jobs. At a bar in Manhattan's Chelsea neighborhood, they commiserated, laughed, drank, and talked shop. The gathering was both cathartic and productive.It also sparked an idea. Hemming began <a href="https://finance.yahoo.com/news/2010-10-04-pink-slip-party.html">running regular meetups</a> for laid-off tech workers — misery loves company, after all — giving them an opportunity to network and meet prospective hiring managers. Voila, the "<a href="https://www.bloomberg.com/news/articles/2000-12-25/have-pink-slip-will-party">pink-slip party</a>" was born. (Note to readers born after the invention of the iPod: A <a href="https://www.mentalfloss.com/article/29831/where-did-term-pink-slip-originate">pink slip</a> is a notice of termination.)Will the latest tech layoffs spur a return of pink-slip parties? <a href="https://www.bloomberg.com/news/newsletters/2022-12-06/will-big-tech-layoffs-spark-the-return-of-the-pink-slip-party">Bloomberg raised the question late last year</a>, citing <a href="https://www.insiderintelligence.com/content/big-tech-chaos-layoffs-losses-add-up">Big Tech's worker purge</a>. And since then, layoffs have crept upwards: More than 120,000 tech workers have lost jobs since the start of 2023, <a href="https://layoffs.fyi/" target="_blank" rel="noopener">according to layoff.fyi</a>. There's perhaps no one better to pose that question to than the originator of the concept. Insider recently caught up with Hemming, who today is the CEO of The Hired Guns, a tech-recruiting agency, to get her thoughts on everything from the current hiring landscape to Gen Z's social and professional mores to the importance of glow-in-the-dark bracelets at networking events.This transcript has been edited for clarity."Pink-slip parties" make getting laid off seem sort of fun. Or is that romanticizing the idea?The parties were fun! We had live music and stand-up comedy, and there was a real esprit de corps. Sounds like a "good-vibes only" atmosphere. As much as the parties were lovely and fun, they were also compassionate. When the turn happened, it happened quickly. There was an element of schadenfreude from people outside of tech — there was a feeling that we were getting our comeuppance.So we were really about trying to help people find new jobs to feed their families. If you'd been laid off, you got a hot-pink glow bracelet. Hiring managers got green bracelets, and you got a blue bracelet if you were there in solidarity. In the early days, some pink-slippers told me they didn't want recruiters there. I said, "No, you want them there. Trust me." A lot of people got hired out of those parties. Do the recent tech layoffs at <a href="https://www.businessinsider.com/amazon-employees-layoff-limbo-awaiting-plans-andy-jassy-2023-1" rel="">Amazon</a>, <a href="https://www.businessinsider.com/salesforces-benioff-bemoans-employee-leaks-in-internal-meeting-slack-message-2022-12" rel="">Salesforce</a>, <a href="https://www.businessinsider.com/google-layoffs-jobs-alphabet-work-employees-staff-sundar-pichai-2023-1" rel="">Google</a> and <a href="https://www.businessinsider.com/facebook-snap-employees-brace-for-another-round-of-layoffs-2023-1" rel="">Meta</a> give you a feeling of déjà vu? No. The industry is totally different. Back then, tech was its own little bubble. Now tech is everywhere, and overall, the layoffs are small relative to the sector. The tech workers losing their jobs today have a nice runway because a lot of big nontech companies are still hiring. They view these layoffs as an opportunity to upgrade their tech-talent pools and go after people they wouldn't otherwise have had access to. Do you think there's a role for pink-slip parties to play today? Yes. I look at what's happening at Musk's Twitter, and I think, "They could use a pink-slip party." But more importantly, I think Gen Zs and millennials would benefit from them. And they'd make the parties their own, which is as it should be. But I'm willing to help, so call me. Let's mix in the old-schoolers with the new-schoolers!But would such a shindig translate for younger generations who perhaps might be more comfortable networking online? Absolutely. Gen Z and younger millennials want camaraderie and togetherness. Of all workers, they feel most vulnerable at this moment. Many of them have worked remotely during the pandemic, and they've missed out on critical networking and mentoring relationships.In my recruiting practice, I'm seeing that this group wants to be back in the office or work hybrid. They want to be with people and to be in the room where it happens.Could there even be an equivalent online pink-slip party?Nobody's found one yet. The live experience is what made these parties special. During the pandemic, we tried every machination of Zoom and people still craved being together.

Pink-slip parties of the dot-com bust helped laid-off tech workers land new jobs &mdash; and need to make a comeback

Happy Friday, readers! I'm your chilly host, Jordan Parker Erb. Before I pour some eggnog and slip away into a weekend of general merriment, we've got some tech news to go over. First: Remember "<a href="https://www.businessinsider.com/pink-slip-parties-laid-off-tech-workers-network-jobs-2022-12">pink-slip parties</a>"? Admittedly, I don't, because when they were happening — during the dot-com bust — I couldn't even read yet, let alone understand the concept of mass layoffs.Anyways, the parties started as a way for laid-off workers to commiserate and meet with others in the same position, as well as potential new employers. Now, 20-some years later, pink-slip parties are being floated as a way to ameliorate the pain felt by recently laid-off tech workers. We've got more on that later.BTW: We won't be sending an edition on Monday, Dec. 26. We'll see you again on Tuesday.Now, let's get started.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://www.businessinsider.com/pink-slip-parties-laid-off-tech-workers-network-jobs-2022-12"></a>1. Will the latest tech layoffs spur a return of "pink-slip parties"? Pink-slip parties originated with the dot-com bubble burst, when laid-off employees would gather to commiserate, laugh, drink, and meet prospective hiring managers. As the industry goes through a similar downturn, the parties could — and, perhaps, should —<a href="https://www.businessinsider.com/pink-slip-parties-laid-off-tech-workers-network-jobs-2022-12"> make a comeback</a>.<ul><li>In 2001, when Internet euphoria faded, tech workers were laid off en masse. One such worker was Allison Hemming, a New Yorker with a side hustle as a tech-talent scout. One evening, she planned a get-together with some friends who'd also lost jobs. </li><li>Hemming began <a href="https://www.businessinsider.com/pink-slip-parties-laid-off-tech-workers-network-jobs-2022-12">running regular meetups</a> for laid-off tech workers — misery loves company, after all — giving them an opportunity to network. Thus, the "pink-slip party" was born. </li><li>Insider caught up with Hemming, who today is the CEO of The Hired Guns, a tech-recruiting agency. She shared her thoughts on everything from the current hiring landscape to the benefits of pink-slip parties for younger generations.</li></ul><a href="https://www.businessinsider.com/pink-slip-parties-laid-off-tech-workers-network-jobs-2022-12">Read our conversation with the icon behind "pink-slip parties."</a>In other news:<a href="https://www.businessinsider.com/budget-eats-host-june-xie-warred-with-hearst-was-fired-2022-12"></a><div type="image" title="June Jiuxing Xie in the foreground with shots of her cooking in the background" height="1500" width="2000" msid="96457501" hostid="261" sizebytes="216212"></div>2. The implosion of "Budget Eats." June Jiuxing Xie was a rising star at Hearst Magazines, where she charmed millions of viewers with her no-frills YouTube show "Budget Eats." For some, Xie was a hero, a union organizer whose star power gave her the internal clout to make noise. But for Hearst, which owns legacy publications like Esquire and Cosmopolitan, Xie's behavior was simply a nuisance. <a href="https://www.businessinsider.com/budget-eats-host-june-xie-warred-with-hearst-was-fired-2022-12">Read the full story here.</a>3. No, Sam Bankman-Fried and his parents didn't just shell out $250 million for bail. He didn't pay it upfront, but his parents' Palo Alto home helped secure his promise not to flee. <a href="https://www.businessinsider.com/how-sam-bankman-fried-bail-agreement-works-parents-home-2022-12">We explain how it works.</a> Plus, we broke down <a href="https://www.businessinsider.com/caroline-ellison-sam-bankman-fried-gary-wang-charges-sec-takeaways-2022-12">the charges facing SBF, Alameda Research CEO Caroline Ellison, and FTX cofounder Gary Wang</a>. 4. Google will soon kill the cookie. The loss of third-party cookies drastically devalues digital ads by making it harder to precisely target people and measure whether ads drove sales. 2023 will be the year to show whether cookie-replacement firms can save the ad industry's revenue. <a href="https://www.businessinsider.com/post-cookie-trade-desk-habu-must-prove-tech-save-advertising-12">More on that here.</a>5. Creators share how to make money on OnlyFans. The subscription platform has boomed in the last two years, offering a lucrative way for many influencers to earn money. From DMs to selling courses, <a href="https://www.businessinsider.com/how-to-make-money-on-onlyfans-according-to-creators-2022-2">creators broke down how to start earning money on the platform</a>.6. Elon Musk is cutting even deeper at Twitter as he tries to save it from financial ruin. The billionaire continues to trim expenses or areas of the company he deems too costly or unneeded, employees said. Office closures are being discussed, layoffs are ongoing, and some Twitter features are on the chopping block. <a href="https://www.businessinsider.com/elon-musks-twitter-kills-features-has-new-layoffs-seeks-funding-2022-12">See what else Musk is axing.</a>7. An employee laid off by Meta says he got a strange package from the company. The package, labeled "leaver," came with "sad" and "wow" emoji Christmas tree ornaments — but no note. <a href="https://www.businessinsider.com/ex-meta-employees-peculiar-packages-emoji-company-2022-12">Take a look at the "peculiar" delivery.</a>8. Major carmakers are being probed by the US Senate on whether they use forced Uyghur labor. The Senate Finance Committee sent letters to Tesla, Mercedes, and others, asking the automakers to check their supply chains for connections to the Xinjiang region. <a href="https://www.businessinsider.com/the-senate-probes-car-makers-on-links-to-uyghur-labor-2022-12">What we know so far. </a>Odds and ends:<a href="https://www.businessinsider.com/tele-prompt-ai-gpt-3-bot-what-to-say-meetings-2022-12"></a><div type="image" title="A remote worker attends a virtual meeting on their laptop." height="4024" width="5365" msid="96457504" hostid="261" sizebytes="356614"></div>9. Want to be more charismatic at work? There's AI for that. Two coders have shared a demo of a project they're calling <a href="https://twitter.com/danielgross/status/1604991443747352576">Tele-Prompt</a>: an AI-bot that listens in on work meetings and simultaneously generates interesting quotes that you could choose to interject into the conversation. <a href="https://www.businessinsider.com/tele-prompt-ai-gpt-3-bot-what-to-say-meetings-2022-12">See how it works.</a>10. See the top-rated TV shows of the year. Many TV shows debuted or released new seasons in 2022, but critics didn't love them all. Shows like "The Terminal List" and "The Watcher" received low marks from reviewers, while the highest-rated shows included "The Bear" and "The Boys." Check out this year's most popular shows, <a href="https://www.insider.com/ranking-popular-shows-released-this-year-2022">ranked from worst to best</a>.The latest people moves in tech:<ul><li>Twitter has reportedly lost <a href="https://www.businessinsider.com/elon-musk-twitter-deputy-general-counsel-legal-left-employment-jobs-2022-12">its last deputy general counsel, Regina Lima,</a> as its legal team shrinks.</li><li>A self-driving-car developer at Twitter resigned a month <a href="https://www.businessinsider.com/self-driving-car-developer-george-hotz-resigns-from-twitter-internship-2022-12">after starting his 12-week internship</a>.</li></ul>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb?lang=en">@jordanparkererb</a>.) Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

It's time to revive the 'pink-slip parties' of the early 2000s

<keyword id="6355315" type="General" weightage="20" keywordseo="Elon-musk" source="Orion">Elon Musk</keyword>, the businessman and magnate, last week fired over 50 per cent of Twitter employees once he took over the social media company. The world was astounded at the way it was done, without a human care and thought of any kindness behind it. There was no exit interview or interaction between the employees and the company and a call or a message was all that apparently one got as an adieu. Reverberating with the unceremonious exits of thousands of Twitter, Amazon, Meta and several other such companies, one was surprised about the dreaded pink slip that was given to all the selectors of the <keyword id="8675" type="General" weightage="20" keywordseo="indian-cricket-team" source="Orion">Indian cricket team</keyword> by the Board of Control for Cricket in India (<keyword id="6354756" type="General" weightage="20" keywordseo="bcci" source="Orion">BCCI</keyword>) as well. The loss in the semifinal stage of the T20 World Cup was the death knell for the wise men who failed to select the right winning squad for the prestigious tournament. The selectors in the past have been called various names. However, two of India's legendary cricketers, referred to them as 'A bunch of Jokers' and 'Court Jesters and Lame Ducks', which was pretty amusing at that time. Both were proven right. However, the Indian acceptance of 'This is the way it is' needs to inspire a change for the better in the future. One did feel sorry for the Chetan Sharma-led selection committee, which did not receive any written or verbal brickbats. However, they had their photographs splashed in several print and digital media, with the word 'Sacked' prominently displayed. They did select a squad that had all the skills and experience to combine themselves into a forceful and winning unit. The Indian think tank of the coach, captain and the support staff was outsmarted both on and off the field by England. India's loss needed fall guys and the easiest were 'the wise men of Gotham' -- the selectors. The BCCI, interestingly, since then has used the existing selectors to select the sides for India's upcoming series. The post of the selectors is now a well-remunerated one and is a full-time job and it, therefore, requires a professional approach. The most important task is in the selection of the selectors. There are certain criteria that are required to be met as regards the age being under 60 years as well as one should have played seven Test matches or 30 First-class matches etc. However, the most important appointment by the BCCI is the appointment of the Cricket Advisory Committee (CAC). The CAC selects the selectors and, therefore, the three members that represent it should have impeccable credentials. They, one feels, should have played over 25 Test matches and have a thorough knowledge of the game and what the position entails. The BCCI are fortunate that they have Roger Binny as their president, Dilip Vengsarkar and Shubhangi Kulkarni in their Apex Committee, three Indian Test cricketers who would be ideal people to select a very competent CAC. The selectors now are a professional outfit, wherein, the earlier requirement of five zonal representatives should be abolished. Earlier, this was necessary as the Ranji Trophy was played initially in their respective zones and thereafter teams qualified for the knock-out stage. In the present format, the zonal basis makes no sense as teams are now placed in groups from any part of India. The five selectors, similar to selection committees in other cricket-playing countries of the world, need to have individuals with the best credentials and capabilities. They could all be from one state or zone if need be. The vast amount of cricket being played domestically, one feels, each selector needs to have his own team of assistant selectors. The job now entails much more than just watching selective matches but a thorough analysis of players and their performance. India is a vast cricket-playing country and the challenge is for one to ensure that every talented Indian cricketer is identified and spotted on time. The talent-spotting programme, which was introduced under Vengsarkar many years ago, was a huge success. A similar approach should be conceptualised, with talent spotters from respective zones reporting to each of the five selectors. This would ensure a better coverage of unearthing aspiring cricketers from the junior to the senior-most level. At present, the IPL and the Under-19 India performers have become the hotbed for quick and early recognition. This is not the best solution as there are several other cricketers playing in the domestic circuit who have not been chosen in the IPL and have long passed the age of 19. A good example of late bloomers is Suryakumar Yadav. SKY, as he is popularly known, is batting like a man possessed, in limited-overs cricket. He has been a part of domestic cricket for many years and is at present 32 years old. He seems ready to play Test cricket, a format that evaded him till now. The time has come for a radical change on the appointment, scope and deliverables of a national cricket selector at all levels of the game. A common structure should be introduced that covers the cricket associations as well. The pink slips and sacking, one feels, is not the best way forward. A selector is, after all, only the facilitator and not the performer. The irony in this case was the facilitators became the fall guys whereas the ones who needed to perform are sitting unreprimanded. This definitely needs a comprehensive change. (Yajurvindra Singh is a former India cricketer) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-vs-new-zealand-odis-series-how-to-watch-match-dates-and-timing-squads-and-more/slidelist/95732575.cms">India vs New Zealand ODIs – How to watch, match dates and timing, squads and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/inox-to-screen-matches-of-fifa-world-cup-qatar-2022-live-in-its-cinema-halls-in-india/articleshow/95716463.cms">INOX to screen matches of FIFA World Cup Qatar 2022 live in its cinema halls in India</a>

'The dreaded pink slip given to all the Indian senior cricket selectors'

New Delhi, As global layoffs deepen, Indian startups are not far behind and have sacked thousands of employees in the past 3-4 months, with many more to be given pink slips in the coming months amid deepening funding winter. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, more than 21,000 employees have been laid off by more than 70 startups to day, including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, <keyword id="2808667" type="General" weightage="50" keywordseo="oyo" source="Orion">OYO</keyword>, Meesho, Udaan and many more. The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date. With the onset of January, more and more Indian companies are slashing jobs across the spectrum. The new year has already seen more than 16 homegrown startups sack employees in the country. Social media company <keyword id="3358959" type="General" weightage="80" keywordseo="sharechat" source="Orion">ShareChat</keyword> (Mohalla Tech Pvt Ltd) has laid off 20 per cent of its workforce due to uncertain market conditions. Backed by Twitter, Google, Snap and <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, ShareChat has about 2,300 employees, and the layoff impacted about 500 people at the company, Healthtech unicorn Innovaccer has sacked nearly 245 employees, or about 15 per cent of its workforce, across teams in India and the US. Innovaccer cofounder and CEO Abhinav Shashank cited an "uncertain macroeconomic environment" as the reason behind the job cuts, according to an internal mail sent to employees and accessed by leading startup news portal Inc42. This was the second layoff at the company in around 4-5 months' time amid the deepening funding winter and recession fears. In September last year, Innovaccer laid off nearly 120 employees, or less than 8 per cent of its workforce. Online food delivery platform <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> confirmed that the company is laying off 380 employees as food delivery growth slows. MediBuddy, an end-to-end digital healthcare platform in India, has laid off 8 per cent of its workforce, around 200 people, across all departments as a restructuring exercise. Homegrown online vehicle repair platform GoMechanic, backed by <keyword id="563136" type="General" weightage="50" keywordseo="sequoia-india" source="Orion">Sequoia India</keyword>, has laid off 70 per cent of its workforce as the startup struggles to raise funds amid serious concerns of accounting troubles. The company has asked the remaining staff to work without pay for three months, according to reports. Software-as-a-service (SaaS) voice automation startup Skit.ai has asked more than 115 employees to go, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter. Even IT giant <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> has laid off more than 400 fresher employees for poor performance in internal assessment tests. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a> <a href="https://www.businessinsider.in/business/news/an-app-that-wants-to-turn-fear-of-stock-markets-into-fun-raises-75-lakh-from-sharks/articleshow/97378121.cms">An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks</a> <a href="https://www.businessinsider.in/india/news/steps-taken-in-subsidence-hit-joshimath-inadequate-declare-himalayas-eco-sensitive-zone-say-experts/articleshow/97411665.cms">Steps taken in subsidence-hit Joshimath inadequate, declare Himalayas eco-sensitive zone, say experts</a>

70-plus Indian startups show exit door to 21K techies, more pink slips coming

<ul class="summary-list"><li>Celsius got its start back in 2004 as the first "negative calorie" soft drink.</li><li>The company lost half of its revenue when Costco stopped selling it in 2012, its CEO said.</li></ul>Long before Celsius became the beverage of choice for athletes like US Olympic sprinter Noah Lyles, the product hit the market in 2004 as the first "negative calorie" soft drink.In spite of its popularity among the weight-loss community, the brand struggled to get mainstream traction.Declining sales volumes led to a falling stock price, leading the company to be delisted from the Nasdaq exchange, which disallows any stock trading below $1 for extended periods.Arguably the bigger hit came in 2012 when Costco quit carrying the product, costing Celsius over half of its revenue in one go, CEO John Fieldly recalled during a recent interview."We got our pink slip from Costco," Fieldly told Logan Bartlett on Bartlett's <a target="_blank" class="" href="https://www.youtube.com/watch?v=PS0vwsMCOiA">podcast</a>. "That was a really scary time.""Then we got delisted out of Walgreens and CVS within the next 30 days," he added. "It was difficult."That all <a target="_blank" class="" href="https://www.gq.com/story/gq-clout-john-fieldly">happened</a> within a few months of Fieldly joining Celsius as CFO, and he has spent the subsequent years rebuilding the company from the studs. He would eventually be named CEO in 2018.On the podcast, Fieldly credited southern grocery chains Publix and HEB with sticking with Celsius through that challenging patch when other retailers were walking away.He also said that the decision to sell on Amazon helped propel the brand into a close rivalry with Monster at the top spot for energy drinks on the e-commerce site, as well as helping establish a consumer purchasing pattern that was unusual for the category."An energy drink is normally an impulse purchase," he said. Instead, customers were spending $25 on cases to stock their fridges, making Celsius "part of a daily lifestyle and a daily routine. That's really difficult to do, so we knew we had something special."Bit by bit, the market shifted and the appetite for so-called "<a target="_blank" class="" href="https://www.businessinsider.com/probiotic-drinks-gut-health-functional-wellness-cbd-toxic-2024-5">better for you</a>" foods and beverages grew.First with direct partnerships with retailers, then through a distribution agreement with AB InBev, Celsius grew from its niche in the health and beauty section and onto the beverage shelves to compete with juggernauts like Red Bull and Monster.In 2022, the company struck a <a target="_blank" class="" href="https://ir.celsiusholdingsinc.com/news/news-details/2022/CELSIUS-PepsiCo-Partnership/default.aspx">deal</a> with PepsiCo for an 8.5% stake in Celsius and distribution support, which led revenue to double.Now, Celsius is the third largest energy drink brand behind Red Bull and Monster, representing <a target="_blank" class="" href="https://www.businessinsider.com/celsius-popularity-washington-capitol-hill-energy-drink-2023-11">one-tenth of the sales in the segment</a>, thanks in large part to the Pepsi partnership, a spokesperson told Business Insider."If you took Celsius out of the energy drink category, it's flat to down so we're driving the incremental growth within the category, which is really great to see," he said.It's also carried by most US grocery retailers — including Costco.

Celsius CEO says one of the scariest times for the energy drink brand was getting 'pink slipped' by Costco

Crisis-hit <keyword id="19987725" type="General" weightage="20" keywordseo="spicejet" source="keywords">SpiceJet</keyword> plans to hand out pink slips to at least 1,000 employees in the coming days as the airline works to significantly reduce costs and streamline operations of its depleted aircraft fleet, officials said on Monday. Faced with financial woes, legal battles and other headwinds, the no-frills carrier might ask more staff to leave as there is excess manpower now compared to the number of planes in service. A final decision on the quantum of layoffs is expected this week, one of the officials in the know said. When contacted, a SpiceJet spokesperson said the airline has initiated several measures, including manpower rationalisation, for achieving profitable growth but did not provide any numbers. The airline has around 9,000 employees and is now looking at reducing the strength by 10-15 per cent, the official said, adding that layoffs are necessary to reduce the overall costs and annual savings could be up to Rs 100 crore. A reduction of 15 per cent would mean around 1,350 people will lose their jobs. The second official in the know said that layoffs are expected across departments and the final list is being prepared. People from the management and consultancy are working on chalking out the contours of letting staff leave, and all the departments have been asked to give their inputs, the official added. There was no official comment from SpiceJet on the proposed job cuts. The second official explained that the airline has stopped operations on certain RCS (Regional Connectivity Scheme) routes and at those stations, there is excess manpower, especially staff with lower salaries. Relocating such people will be a challenge, the official noted. Currently, SpiceJet has a fleet of little over 30 aircraft apart from 10 planes that are on wet lease. "As part of our turnaround and cost-cutting strategy, following the recent fund infusion, SpiceJet has initiated several measures, including manpower rationalisation, aimed at achieving profitable growth and positioning ourselves to capitalise on the opportunities in the Indian aviation industry. "Through this initiative alone, we anticipate an annual saving of up to Rs 100 crore," the airline spokesperson said in a statement. During a meeting with the airline's senior officials last month, SpiceJet Chairman and Managing Director <keyword id="19916067" type="General" weightage="20" keywordseo="ajay-singh" source="keywords">Ajay Singh</keyword> emphasised the importance of judicious spending and that he will personally oversee all major expenditures. The carrier will prioritise fleet upgrades, enhance on-time performance and cost-cutting measures will be implemented to streamline operations, according to an internal note last month. SpiceJet, which has undergone multiple ownership changes since inception and is currently helmed by Ajay Singh, is in the process of raising funds from various investors. On January 26, the carrier announced that it has received Rs 744 crore as the first tranche of the total Rs 2,250 crore proposed to be raised through the issuance of securities on a preferential basis. There were reports that there has been a delay in raising the requisite funds. The airline has also availed funds worth around Rs 1,000 crore under the government's Emergency <keyword id="20097541" type="General" weightage="20" keywordseo="credit-line-guarantee-scheme" source="keywords">Credit Line Guarantee Scheme</keyword> (ECLGS) and Singh has committed to infuse Rs 500 crore. In recent times, SpiceJet also witnessed lessors taking legal recourse to take back their leased aircraft due to non-payment of dues. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> is one of the world's fastest growing civil aviation markets and the domestic air traffic is on an upward trajectory. However, SpiceJet has been struggling for sometime now. In 2023, the carrier flew 83.90 lakh passengers and had a domestic market share of 5.5 per cent. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/wd-black-sn850x-ssd-review/articleshow/107557627.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/wd-black-sn850x-ssd-review/articleshow/107557627.cms" target="_blank">WD Black SN850X SSD review – a reliable gaming SSD</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-review/articleshow/106961567.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-review/articleshow/106961567.cms" target="_blank">OnePlus Open review – Feature-packed foldable in a premium design</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-review-top-end-camera-centric-smartphone-with-sleek-design/articleshow/106539033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-review-top-end-camera-centric-smartphone-with-sleek-design/articleshow/106539033.cms" target="_blank">Vivo X100 review – Top-end camera centric smartphone with sleek design</a>

Crisis-hit SpiceJet plans to hand out pink slips to at least 1,000 employees

<div class="KonaFilter image-container float_right"><div class="image on-image">Getty Images</div></div>Getting a pink slip can be demoralizing, to say the least. Luckily, these successful people prove that it's possible to bounce back.
Clearly, Mark Cuban was destined to become more than a computer store salesman, and J.K. Rowling wasn't passionate about her job as a secretary. Steve Jobs went through a crisis and eventual transformation after the company he created fired him.
For some, getting fired is exactly what they needed to launch into the success stories they are today.
Here are 19 people who got kicked to the curb and turned their termination into an opportunity.

19 People Who Found Great Success After Being Fired

19 Successful People Who Have Been Fired

<ul><li>Indian startup sector witnesses a rise in job losses, with over 27,000 tech employees affected and numbers increasing.</li><li>Nearly 26,868 employees have been handed over pink slips by 98 startups.</li><li>At least 22 <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startups have slashed 9,781 jobs to date.</li></ul>At least 27,000 tech employees at Indian startups have lost their jobs since the funding winter crept in last year, and the list is only growing. Nearly 26,868 employees have been handed over pink slips by 98 startups, including unicorns led by the edtech majors, according to data by leading startup news portal Inc42. At least 22 edtech startups have slashed 9,781 jobs to date. In the first five months into 2023, more than 8,000 employees lost their jobs in India by nearly 50 startups. Homegrown virtual events platform Airmeet sacked about 30 per cent of its workforce, or at least 75 employees, according to the report. Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, slashed nearly 35 per cent of its workforce as part of a restructuring exercise. Another homegrown edtech startup Teachmint laid off over 70 employees, its second round of job cuts after sacking about 45 workers more than five months ago. <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword>-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru, and <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> amid global macroeconomic conditions. The year 2023 has become the worst year for tech employees as nearly 2 lakh tech employees -- from Big Tech firms to startups -- have been sacked to date globally, as companies like <keyword id="399907" type="General" weightage="50" keywordseo="meta" source="Orion">Meta</keyword>, BT, <keyword id="15492" type="General" weightage="50" keywordseo="vodafone" source="Orion">Vodafone</keyword> and many others announced further plans to lay off more employees in coming months. As per the data by layoffs tracking site Layoffs.fyi, 695 tech companies have shown the doors to around 1.98 lakh employees so far this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

About 27K employees lost jobs at Indian startups to date, over 8K this year

<a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate">Startups</a> are going through a tough time. They are in news for all the wrong reasons, especially because they have been on a firing spree since the year 2017 has begun. 
 
As investors are <a href="http://www.businessinsider.in/searchresult.cms?query=funding&amp;sortorder=effectivedate">tightening their purse strings </a>and startups are now focussing on revamping operations and making profits, startups are targeting employees and cutting the workforce. 
 
In 2017, many small businesses such as <a href="http://www.businessinsider.in/searchresult.cms?query=yepme&amp;sortorder=effectivedate">YepMe</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=craftsvilla&amp;sortorder=effectivedate">Craftsvilla</a>, etc have been giving their employees nightmares, who are worrying over pink slips. 
 
The scenario at India’s third online marketplace <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal</a> is also not good as it has fired over 600 employees so far. 
 
The companies are looking to trim costs and employees are staring at <a href="http://www.businessinsider.in/searchresult.cms?query=lay-offs&amp;sortorder=effectivedate">job cuts</a>. 
 
Here are 5 companies that have massively laid-off employees

5
companies that fired employees in 2017

With <keyword id="6355055" type="COUNTRY" weightage="20" keywordseo="USA">USA</keyword> checking upon the immigration rules and the wave of automation already hitting the shores of IT hubs in India, instances of IT employees being handed over pink slips are rampant. While a year back, pink slips were given to employees for under-performance. But not now! Companies are asking employees to take four months’ salary and resign. In worst cases, they are being forced to put down their papers giving two months’ notice. Not just that, some tech employees in Electronic City <keyword id="6354321" type="CITY" weightage="100" keywordseo="Bengaluru">Bengaluru</keyword> are in the fear that those who don’t resign would be terminated by June. Besides, there hasn’t been any increment this year. Bengaluru has got the glory of IT capital since the 80s. Branded as Indian <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword>, Karnataka hosts around 3,000 IT companies, of which 750 are MNCs. Swanky offices, plush buildings and fat pay checks have made Indian middle class hooked to pursue career in IT soon after graduation. The city that shaped itself as a job creator is now facing the brunt of reality. Cognizant, which houses 1,50,000 Indian employees in its Bengaluru chapter has reports of 6000-10000 people being downsized. "Being the IT hub with many jobs in software services, Bengaluru will be the most affected in the current round of layoffs,” <keyword id="2421766" type="UNKNOWN" weightage="20" keywordseo="Alka-Dhingra">Alka Dhingra</keyword> of Team Lease employment solution told The Economic Times. While spokesperson of various IT companies unanimously site Visa regulations and automation responsible for job loss, employees refuse to buy. An IT company employee told ET that the number of visas being issued is the same as before. Moreover the threat of automation, he said, is for BPO sector and manufacturing units and not as much to the core developers. The inference that can be drawn is the companies are downsizing to increase their profit margins. Besides, they want freshers to do the same type of job than mid-level executives, which would again save these companies thousands of dollars. A software company employee, in conversation with the ET alleged that the HR department of his company has threatened to snatch his id card if he doesn’t resign in a week. He is now planning to relocate to other cities for jobs. IT industry is no more a luring sector for freshers who thought landing on a job is easier than they think. “One needs to keep in mind that there may also be a bigger reverse migration from the West, following incidents of racism and terror attacks. Additionally, any crisis management strategy would be hampered by the lack of data. Currently, we don't know how big the crisis is” Narender Pani, professor at the National Institute of Advanced Studies told the ET.

You Searched For "pink slip" and got 13 results

Telecom industry is going to witness massive layoffs; over 25,000 pink slips loom

BI India Bureau

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70-plus Indian startups show exit door to 21K techies, more pink slips coming

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Celsius CEO says one of the scariest times for the energy drink brand was getting 'pink slipped' by Costco

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Crisis-hit SpiceJet plans to hand out pink slips to at least 1,000 employees

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19 People Who Found Great Success After Being Fired

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19 Successful People Who Have Been Fired

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About 27K employees lost jobs at Indian startups to date, over 8K this year

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5 companies that fired employees in 2017

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Identity cards snatched and forced to leave: The IT company woes in Bengaluru are now real

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Over 2,093 tech employees given pink slips every day in 2023 so far

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