Weekend wrap: Experts talk about Sensex reaching 100,000 mark, Amazon plans major managerial cuts
Oct 4, 2024, 18:04 IST
Dear reader,
Yet another week comes to a close and India's financial landscape saw a slight dip after reaching for the skies last week. Yet, speculations around Sensex possibly reaching the coveted 100,000 mark in early 2025 are on the rise. Meanwhile, excitement is building for Coldplay’s upcoming concert in January next year. However, there is some bad news for those who have purchased or sold tickets via unauthorised means. BookMyShow has lodged an FIR to investigate the illegal sale and purchase of tickets.
On a more somber note, the tragic passing of a Bajaj Finance employee made headlines this week and reignited discussions around the pressing issues of workplace stress and mental health.
Coming to what’s happening in the corporate world, Amazon is considering a major overhaul of its management structure that could see thousands of managerial roles eliminated by next year, aiming for increased efficiency and significant cost savings. Additionally, popular YouTuber Ranveer Allahbadia recently faced a hacking incident, raising awareness about the importance of online account security and the necessary steps for recovery.
Join us as we explore these compelling stories and more, helping you stay informed and engaged in this ever-evolving landscape.
Top stories of the week:
Will Sensex touch the coveted 1,00,000 mark early next year? Experts weigh in
The Indian stock market experienced a significant growth, with the BSE Sensexsurpassing 85,000 points last week. However on Thursday, October 3, the Indian stock market faced a substantial decline. Bothbenchmark indices, Sensex and Nifty 50, ended the trading day down by more than 2%. Meanwhile, analysts are speculating that the index could reach the 100,000 mark by early 2025, bolstered by a ₹57,359 crore inflow from foreign investors in September—the highest in nine months.
Read more
BookMyShow took legal action against unknown scalpers involved in the reselling of tickets for Coldplay's "Music Of The Spheres World Tour " in India. The online ticket platform filed an FIR with the Mumbai Police on October 2, accusing scalpers of black market activity surrounding tickets for the band's highly anticipated shows in January 2025 at DY Patil Stadium in Navi Mumbai. BookMyShow might even consider cancelling the tickets purchased through unauthorised sources.
Read more
‘Being pressurised to meet targets at any cost, I am leaving’: Bajaj Finance employee dies by suicide, leaves note blaming work stress
A couple of days back, EY employee Anna Sebastian Perayil’s death had left the entire nation shocked. This week, yet another tragic incident has unfolded in Jhansi. A 42-year-old area manager, employed by Bajaj Finance, was found dead in his home on Sunday morning. According to a PTI report, the employee, named Tarun Saxena, ended his life by hanging, leaving behind a suicide note in which he alleged severe work pressure and mental harassment by his superiors.
Read more
Last month, CEO Andy Jassy announced plans to boost the ratio of individual contributors to managers at Amazon by at least 15% by the end of the first quarter of 2025. By reducing the number of managers, Jassy aims to streamline operations, eliminating unnecessary layers of management and enabling the company to operate more efficiently without bureaucratic obstacles. This initiative could potentially result in the loss of around 13,834 managerial positions by early next year, which Morgan Stanley estimates could lead to cost savings of between $2.1 billion and $3.6 billion, according to a note released on Thursday.
Read more
Ranveer Allahbadia YouTube channel hack – What steps should you take to protect and recover your account?
Ranveer Allahbadia, widely known as BeerBiceps, recently faced a setback when his YouTube channels were hacked, leading to the deletion of all his videos and the renaming of his channels. However, YouTube has since removed the hacked accounts, and they were restored today, along with all the original content. While Allahbadia, as a prominent YouTuber, was able to regain access to his accounts with relative ease, not everyone has the same resources or connections. This situation highlights the importance of knowing how to safeguard your account and the steps to take if it becomes compromised.
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Yet another week comes to a close and India's financial landscape saw a slight dip after reaching for the skies last week. Yet, speculations around Sensex possibly reaching the coveted 100,000 mark in early 2025 are on the rise. Meanwhile, excitement is building for Coldplay’s upcoming concert in January next year. However, there is some bad news for those who have purchased or sold tickets via unauthorised means. BookMyShow has lodged an FIR to investigate the illegal sale and purchase of tickets.
On a more somber note, the tragic passing of a Bajaj Finance employee made headlines this week and reignited discussions around the pressing issues of workplace stress and mental health.
Coming to what’s happening in the corporate world, Amazon is considering a major overhaul of its management structure that could see thousands of managerial roles eliminated by next year, aiming for increased efficiency and significant cost savings. Additionally, popular YouTuber Ranveer Allahbadia recently faced a hacking incident, raising awareness about the importance of online account security and the necessary steps for recovery.
Join us as we explore these compelling stories and more, helping you stay informed and engaged in this ever-evolving landscape.
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Top stories of the week:
Will Sensex touch the coveted 1,00,000 mark early next year? Experts weigh in
The Indian stock market experienced a significant growth, with the BSE Sensexsurpassing 85,000 points last week. However on Thursday, October 3, the Indian stock market faced a substantial decline. Bothbenchmark indices, Sensex and Nifty 50, ended the trading day down by more than 2%. Meanwhile, analysts are speculating that the index could reach the 100,000 mark by early 2025, bolstered by a ₹57,359 crore inflow from foreign investors in September—the highest in nine months.
Read more
Coldplay India 2025 concert: BookMyShow might cancel tickets sold through unauthorised channels, files FIR
BookMyShow took legal action against unknown scalpers involved in the reselling of tickets for Coldplay's "Music Of The Spheres World Tour " in India. The online ticket platform filed an FIR with the Mumbai Police on October 2, accusing scalpers of black market activity surrounding tickets for the band's highly anticipated shows in January 2025 at DY Patil Stadium in Navi Mumbai. BookMyShow might even consider cancelling the tickets purchased through unauthorised sources.
Read more
‘Being pressurised to meet targets at any cost, I am leaving’: Bajaj Finance employee dies by suicide, leaves note blaming work stress
A couple of days back, EY employee Anna Sebastian Perayil’s death had left the entire nation shocked. This week, yet another tragic incident has unfolded in Jhansi. A 42-year-old area manager, employed by Bajaj Finance, was found dead in his home on Sunday morning. According to a PTI report, the employee, named Tarun Saxena, ended his life by hanging, leaving behind a suicide note in which he alleged severe work pressure and mental harassment by his superiors.
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Read more
Amazon could cut 14,000 managers soon and save $3 billion a year, according to Morgan Stanley
Last month, CEO Andy Jassy announced plans to boost the ratio of individual contributors to managers at Amazon by at least 15% by the end of the first quarter of 2025. By reducing the number of managers, Jassy aims to streamline operations, eliminating unnecessary layers of management and enabling the company to operate more efficiently without bureaucratic obstacles. This initiative could potentially result in the loss of around 13,834 managerial positions by early next year, which Morgan Stanley estimates could lead to cost savings of between $2.1 billion and $3.6 billion, according to a note released on Thursday.
Read more
Ranveer Allahbadia YouTube channel hack – What steps should you take to protect and recover your account?
Ranveer Allahbadia, widely known as BeerBiceps, recently faced a setback when his YouTube channels were hacked, leading to the deletion of all his videos and the renaming of his channels. However, YouTube has since removed the hacked accounts, and they were restored today, along with all the original content. While Allahbadia, as a prominent YouTuber, was able to regain access to his accounts with relative ease, not everyone has the same resources or connections. This situation highlights the importance of knowing how to safeguard your account and the steps to take if it becomes compromised.
Advertisement
Read more
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India's biggest IPOs by issue size
9 brain exercises to improve memory and focus
Tired of Jaipur? Check out these 7 alternative places in Rajasthan