Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Retail giant <keyword id="80487" type="General" weightage="100" keywordseo="Walmart" source="Orion">Walmart</keyword> is laying off hundreds of employees at its e-commerce facilities across the US as part of an adjustment in staffing "to better prepare for the future needs of customers". Walmart is shrinking its workforce as many retailers plan on roughly flat or declining sales, reports CNBC. A company spokesperson said that this decision was not made lightly. "We're working closely with affected associates to help them understand what career options may be available at other Walmart locations," the spokesperson said in a statement. About 200 workers will be affected at Walmart's southern <keyword id="9753" type="General" weightage="20" keywordseo="new-jersey" source="Orion">New Jersey</keyword> facility, reports Reuters. Walmart's rival <keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> has slashed 27,000 jobs in two rounds and another retail major <keyword id="6359938" type="General" weightage="80" keywordseo="target" source="Orion">Target</keyword> plans to cut up to $3 billion in total costs over the next three years. Walmart anticipates slower sales growth and lower profits in the coming fiscal year. The company said last month that it expects same-store sales for its US business to grow between 2-2.5 per cent, excluding fuel. Online sales have continued to grow, though at a slower pace than during the peak of the pandemic. In its fourth quarter, Walmart delivered strong revenue growth globally with strength in stores and e-commerce. Total revenue was $164 billion, up 7.3 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/dating-platform-bumble-reveals-how-cricket-impacts-dating-in-india/slidelist/98969815.cms">Batting for love: Dating platform Bumble reveals how cricket impacts dating in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/japan-supermarket-sales-drop-for-first-time-in-eight-months/articleshow/98970942.cms">Japan supermarket sales drop for first time in eight months</a>

Walmart lays off hundreds of employees to 'prepare for the future'

<ul><li>Two weeks ago, American retail giant Walmart laid off 56 employees across levels — including eight senior-level executives. </li><li>Over 36 Indian executives that were impacted by the move have now reached out to the US headquarters of the retailer quoting layoffs to be ‘unfair’ and not performance-based. </li><li>Given that, a compliance team from the US office may visit India to conduct a thorough investigation on the development. </li><li>The downsizing happened as the retailer saw little scope in adding physical stores in the country. </li></ul>Two weeks ago, American retail giant <a href="https://www.businessinsider.in/careers/news/walmart-sheds-brick-and-mortar-weight-as-it-plans-to-go-online-with-flipkart/articleshow/73220455.cms?src=hp_nav">Walmart laid off employees across levels</a>— including those in the senior management — as it moves from physical stores to e-commerce business. On Monday, over 36 Indian executives that were impacted by the move, reached out to the US headquarters of the retailer quoting layoffs to be ‘unfair’ and not performance-based. “We have written to them individually as well as a group because the company went ahead with the firing process even after an assurance in December that there will not be any layoffs. Some had even threatened to be whistleblowers in recent real estate deals where due process was not followed,” ET <a href="https://m.economictimes.com/industry/services/retail/fired-walmart-india-executives-write-to-headquarters/articleshow/73642285.cms">reported</a> citing three former executives. Given that, a compliance team from the US office may visit India to conduct a thorough investigation on the development. However, the retailer claims to have a strong ethical programme in place and the company will review allegations seriously. “We are committed to growing in India, doing so in compliance with all applicable laws and in a way that benefits our associates, local businesses and the communities where we operate,” a Walmart spokesperson <a href="https://m.economictimes.com/industry/services/retail/fired-walmart-india-executives-write-to-headquarters/articleshow/73642285.cms">told</a> ET. Walmart had earlier confirmed that it has laid off 56 employees, including eight in the senior management — adding that the impacted employees shall be offered severance benefits and outplacement services. The downsizing happened as the retailer sees little scope in adding physical stores in the country. It may put more weight behind Flipkart — which it bought for ₹1.13 lakh crore in 2018. However, Walmart’s exit from physical stores coincides with Flipkart’s expansion to the food retail segment in India. Flipkart FarmerMart is aimed to sell local products online — directly to consumers. Yet another online-physical combination — Amazon and Future Retail too are bunching their strategies together as they prepare for an onslaught from India’s richest man — Mukesh Ambani, who is planning to merge Jio’s digital capabilities with his retail venture JioMart which recently marked its e-commerce debut. Walmart entered wholesale business in India in 2007 with the Bharti Group. It currently runs 28 'Best Price' Modern Wholesale Stores — selling to small shopkeepers — across the country. The retail major has over 5,000 employees in India — including 600 based at its head office, Business Standard <a href="https://www.business-standard.com/article/companies/walmart-india-fires-around-50-executives-as-part-of-restructuring-report-120011300200_1.html">reported</a>. See also: <a href="https://www.businessinsider.in/careers/news/walmart-sheds-brick-and-mortar-weight-as-it-plans-to-go-online-with-flipkart/articleshow/73220455.cms?src=hp_nav">Walmart sheds brick and mortar weight as it plans to go online with Flipkart</a> <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-e-commerce-venture-jiomart-makes-a-silent-debut-calls-for-pre-registrations/articleshow/73046911.cms">Reliance’s e-commerce venture JioMart makes a silent debut, calls for pre-registrations</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-rushes-to-bring-kishore-biyani-future-group-online-days-after-mukesh-ambani-jiomart-launch/articleshow/73116395.cms">Amazon rushes to bring Kishore Biyani’s Future Group online, days after Mukesh Ambani’s JioMart launch</a>

The curious case of Walmart India layoffs and whistleblower allegations reaches US headquarters

<ul><li>The company said that it was scaling down its employee size in India, as there has been no intimation from the government regarding a possible solution to the ban. </li><li><keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword> was banned in late June by the Indian government in the middle of rising tensions at the India-China border.</li><li>Even with all the ups and downs in its businesses across the globe, <keyword id="3749909" type="PERSON" weightage="20" keywordseo="Bytedance">Bytedance</keyword> has reportedly raked in $37 billion in revenue in 2020, including $7 billion in profit.</li></ul>Chinese giant ByteDance has fired hundreds of employees in India, as the ban on Chinese apps including the company’s popular app TikTok remains banned in the country. In an email to its employees on Wednesday morning, the company said that it was scaling down its employee size in India, as there has been no intimation from the government regarding a possible solution to the ban. “We initially hoped that this situation would be short-lived, and that we would be able to resolve this quickly. Seven months later, we find that has not been the case. Many of you have patiently waited to hear how this would play out, which has been very stressful. Thank you for your continued belief and trust in us,” wrote TikTok CEO Vanessa Pappas and VP of Global Business Blake Chandlee in an email to India employees today, as reported by <a href="https://techcrunch.com/2021/01/26/bytedance-to-cut-jobs-in-india-amid-tiktok-ban/">TechCrunch</a>. TikTok was banned in late June by the Indian government, as were 58 other Chinese apps in the middle of rising tensions at the India-China border. Soon after, over hundred other Chinese apps were banned in the country over privacy and data concerns. “We have worked steadfastly to comply with the Government of India order issued on June 29, 2020. We continually strive to make our apps comply with local laws and regulations and do our best to address any concerns they have. It is therefore disappointing that in the ensuing seven months, despite our efforts we have not been given a clear direction on how and when our apps could be reinstated. It is deeply regretful that after supporting our 2000+ employees in India for more than half a year, we have no choice but to scale back the size of our workforce. We look forward to receiving the opportunity to relaunch TikTok and support the hundreds of millions of users, artists, story-tellers, educators and performers in India," said a TikTok spokesperson. Not just in India, TikTok saw complications in its business in India as former US President Donald Trump threatened to ban the app unless the company sold off its business to an American company – which it was eventually to Walmart and Oracle. However, even with all the ups and downs in its businesses across the globe, Bytedance has <a href="https://www.techinasia.com/bytedances-revenue-doubled-37b-2020-sources">reportedly</a> raked in $37 billion in revenue in 2020, including $7 billion in profit. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/old-vehicle-owners-may-have-to-pay-up-to-3800-per-year-as-green-tax/articleshow/80473971.cms">Old vehicle owners may have to pay up to ₹3,800 per year as ‘Green tax’</a> <a href="https://www.businessinsider.in/careers/news/cag-is-hiring-more-than-10000-accountants-and-auditors-around-the-country/articleshow/80476566.cms">CAG is hiring more than 10,000 accountants and auditors around the country</a>

After firing hundreds of employees, Tiktok says it hopes to relaunch in India soon

<ul><li><keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> has put a halt to its expansion plans in India — sacking nearly 56 employees. </li><li>The retailer is shedding brick and mortar weight as it sees no scope in placing physical stores in the country and may go online with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>. </li><li>The development comes in the backdrop of Reliance <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>’s debut in the ecommerce space. </li><li>The company’s wholesale business has been suffering losses. The company recorded accumulated losses of ₹2,181 crore as of March 2019, as per Economic Times report.</li></ul>American retail giant Walmart has put a halt to its expansion plans in India — sacking nearly 56 employees. This is almost a third of its senior talent pool. "We are looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organized in the right way. As part of this review, we have let go 56 of our associates across levels at the corporate office. All of the 56 impacted associates -- 8 in the senior management and 48 in the middle and lower management -- have been offered enhanced severance benefits and outplacement services to support their transition.” said Krish Iyer, President &amp; CEO, Walmart India. The retailer sees little scope in adding physical stores in the country. It may put more weight behind Flipkart — which it bought for ₹1.13 lakh crore in 2018. This is as rival Reliance JioMart’s made its debut in the ecommerce space. “It’s happening because focus is shifting to e-commerce rather than physical (stores),” said the company. The American multinational reportedly laid off executives including vice presidents across verticals — agri business, FMCG and real estate — at its Gurgaon headquarters. More exits are expected in three months time. However, the company has denied the anticipations regarding more layoffs. "A report appearing in the section of the Press speculating second round of layoffs in April is baseless and incorrect.," it said. It also plans to shut a fulfillment centre in Mumbai as the company’s wholesale business is suffering losses. The company recorded accumulated losses were at a massive ₹2,181 crore as of March 2019, as per Economic Times report. Walmart’s exit from physical stores coincides with Flipkart’s expansion to the food retail segment in India. Flipkart FarmerMart is aimed to sell local products online — directly to consumers. Yet another online-physical combine - Amazon and Future Retail too are bunching their strategies together as they prepare for an onslaught from India’s richest man - Mukesh Ambani and his ostentatious plans to merge his digital capabilities with Jio to his retail venture, JioMart. "Our members are increasingly becoming omni-channel shoppers. We are thus investing heavily in technology and have a healthy pipeline of Best Price stores. This will provide our members a true omni-channel and convenient shopping experience in the future.," Walmart said. Walmart entered wholesale business in India in 2007 with the Bharti Group. It currently runs 28 'Best Price' Modern Wholesale Stores — selling to small shopkeepers — across the country. The retail major has over 5,000 employees in India — including 600 based at its head office, Business Standard <a href="https://www.business-standard.com/article/companies/walmart-india-fires-around-50-executives-as-part-of-restructuring-report-120011300200_1.html">reported citing sources</a>. See also: <a href="https://www.businessinsider.in/business/ecommerce/news/jiomart-launch-date-january-26-mukesh-ambani-ecommerce-debut-will-include-electronics/articleshow/73141917.cms">EXCLUSIVE: JioMart will launch mobile phones and electronics on January 26 and soon, everything under the sun in e-commerce</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-and-flipkart-invest-in-ninjacart-that-has-1200-warehouses-for-grocery-delivery/articleshow/72468829.cms">Walmart and Flipkart invest in Ninjacart that has 1,200 warehouses for grocery delivery</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-a-whopping-28-3-billion-from-its-singapore-based-parent/articleshow/72348456.cmshttps://www.businessinsider.in/business/ecommerce/news/flipkart-raises-a-whopping-28-3-billion-from-its-singapore-based-parent/articleshow/72348456.cms">Walmart-owned Flipkart invests ₹28.3 billion into its India unit</a>

Walmart sheds brick and mortar weight as it plans to go online with Flipkart

New Delhi, Jan 13 () Walmart India on Monday said it is letting go 56 of its employees, including eight from senior management level, as part of restructuring exercise.
The company, which operates 28 cash-and-carry stores in the country, said it is looking at ways to operate more efficiently.
"We are also looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organized in the right way. As part of this review, we have let go 56 of our associates across levels at the corporate office," Walmart India President &amp; CEO Krish Iyer said in a statement.
All of the 56 impacted associates, eight in the senior management and 48 in the middle as well as lower management, have been offered enhanced severance benefits and out placement services to support their transition, he added.
Iyer, however, ruled out a second round of layoffs in April, terming the speculation as baseless and incorrect. 
He said the company remains committed to growing its B2B cash and carry business in India.
Walmart opened six new best price modern wholesale stores, one fulfilment centre and the company's sales grew 22 per cent in 2019, he added.
"We have recently made significant investments to serve our members better and will continue to do so. This includes investments in our brick and mortar stores as well as e-commerce.
"Our members are increasingly becoming omni-channel shoppers. We are thus investing heavily in technology and have a healthy pipeline of best price stores. This will provide our members a true omni-channel and convenient shopping experience in the future," Iyer noted.
Layoffs at Walmart's brick and mortar business began after it bought a majority stake in e-commerce retailer Flipkart in an around USD 16 billion deal in 2018.
Walmart, as per its strategy to strengthen presence in the Indian market and also compete head-on with global rival Amazon, had announced a mega deal to pick up 77 per cent stake in Flipkart.
Walmart had started B2B e-commerce in July 2014 from its Lucknow and Hyderabad 'Best Price Store' and was later extended to other stores.
It was among one of the first companies in India, which had adopted the omni-channel retail system by integrating online and offline formats here. MSS MR
BAL

Walmart lays off 56 employees in India; denies 2nd round of downsizing in Apr

<ul class="summary-list"><li>Demand for tech workers at non-tech companies has <a href="https://www.bain.com/insights/despite-tech-layoffs-competition-for-talent-remains-fierce-infographic/" target="_blank" rel="noopener">reportedly</a> outstripped demand at tech firms.</li><li>Workers with experience in Web3, AI, and cybersecurity are still highly sought after, one report says. </li></ul>It's been a tough few months to be a tech worker.Tech jobs, highly sought after for their <a href="https://www.businessinsider.com/tech-companies-using-layoffs-recession-to-push-pay-back-down-2023-1">high pay and cushy benefits</a>, seem less secure than ever as <a href="https://www.businessinsider.com/tech-companines-that-havent-had-layoffs-job-cuts-yet-2023-1">nearly every</a> major tech company has cut headcounts and slashed budgets in the past six months. The bloodbath shows no sign of slowing down: Nearly 95,000 tech workers <a href="https://www.businessinsider.com/layoffs-sweeping-the-us-these-are-the-companies-making-cuts-2023">have been laid off</a> in the first few weeks of 2023, <a href="https://layoffs.fyi/">according</a> to layoff tracker layoffs.fyi. <h2>A silver lining for tech workers?</h2>However, it's not all bad news for recently laid-off tech workers: Many of their skills are still in high demand, but they may need to get more creative in their job search, a <a href="https://www.bain.com/insights/despite-tech-layoffs-competition-for-talent-remains-fierce-infographic/">report</a> from Bain &amp; Company finds. According to Bain, job postings calling for people with tech expertise are growing within non-tech industries. "The growth of demand for tech talent from non-tech business has really been a game-changer," said Jonathan Frick, a partner at Bain and one of the study's authors.Using publicly available job postings and US government data, Frick and his team determined that demand for tech workers at non-tech businesses outpaces demand at tech businesses for the first time. Companies across industries are using more technology, causing a greater need for people with software engineering skills, Frick said. He used Walmart and Amazon as an example: one is traditionally seen as a retailer, and one is seen as a tech company, "but the reality is that they've had to converge in terms of what kind of skills they need," he said.<h2>Workers with Web3, AI backgrounds in demand</h2>Wajid Mirza, founder of Xperti, a recruiting firm specializing in IT and software development roles, said the report's findings ring true at his company. While some tech projects have been paused or canceled, Mirza said he still sees strong demand for software developers among government and retail clients. The team at Bain found that skills in Web3, AI, data science, cloud computing, and cyber security were among the most in-demand at non-tech companies. Job openings for workers with Web3 and AI experience grew 237% and 108%, respectively, between the fourth quarter of 2020 and the third quarter of 2022, according to Bain's findings. Frick estimates that the demand for workers in these fields in the US, India, and Europe still vastly outstrips the supply. Mirza said his tech recruiting firm had seen a similar trend. "For certain types of jobs, it's still pretty hard to find resources," he said. <h2>The pay question</h2>Whether non-tech firms, such as retailers, can pay the same sky-high salaries as their tech counterparts remains another story. "They're trying to find other ways to attract these people because they just don't have the same ability to print cash that some of the big tech companies have," Frick said, though he predicted that companies might get "creative" in order to attract workers in high demand.

There are plenty of open jobs for tech workers &mdash; they're just not at tech companies

<a href="https://www.businessinsider.com/sam-altman-return-openai-ceo-2023-11"></a><ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! To our US readers: happy day before Thanksgiving — or as I like to call it, quasi-Friday.There's nothing like a photo of the Milky Way galaxy to put things in perspective before the holidays. Check out this new, stunning image from <a href="https://www.businessinsider.com/james-webb-telescope-new-image-milky-way-colorful-heart-2023-11" target="_blank" rel="noopener">NASA's James Webb Space Telescope</a> of the heart of the Milky Way.In today's big story, we're looking at <a href="https://www.businessinsider.com/sam-altman-return-openai-ceo-2023-11" target="_blank" rel="noopener">Sam Altman returning to the helm of OpenAI</a>. (Yes, you read that right.)What's on deck: <ul><li>Markets: Binance's CEO will step down and plead guilty in an <a href="https://www.businessinsider.com/binance-cz-fine-hamas-islamic-state-treasury-department-2023-11" target="_blank" rel="noopener">anti-money-laundering probe</a>.</li><li>Tech: Jack Dorsey told Block employees he's <a href="https://www.businessinsider.com/jack-dorsey-ending-pips-at-block-names-new-cto-2023-11" target="_blank" rel="noopener">changing the way their performance is tracked</a>.</li><li>Business: Check out our <a href="https://www.businessinsider.com/meet-rising-stars-of-madison-avenue-2023-11" target="_blank" rel="noopener">rising stars of Madison Avenue</a> who are revolutionizing advertising.</li></ul>But first, guess who's back.<h3>The big story</h3><h2>OpenAI hits 'undo'</h2><a href="https://www.businessinsider.com/sam-altman-return-openai-ceo-2023-11"></a><div type="image" title="Sam Altman" height="682" width="910" msid="105422673" hostid="261" sizebytes="52234"></div>He's baaaaaaaaaaack.Less than five days after his shocking ouster, <a href="https://www.businessinsider.com/sam-altman-return-openai-ceo-2023-11" target="_blank" rel="noopener">Sam Altman is set to return to OpenAI as its CEO</a>. To be sure, the news isn't quite finalized — an important caveat these days. <a href="https://twitter.com/OpenAI/status/1727206187077370115?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1727206187077370115%7Ctwgr%5E2636d2c9eca91b8e3bb69f6a6027fc088a7103f0%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.businessinsider.com%2Fopenai-board-larry-summers-bret-taylor-adam-dangelo-sam-altman-2023-11" target="_blank" rel="noopener">OpenAI posted on X</a> Wednesday that it "reached an agreement in principle" to bring back Altman. But it seems Altman really pulled off one of the quickest CEO boomerangs in corporate history.It's a fitting culmination to what has been one of the wildest sagas to hit Silicon Valley since, well, ever.(If you're still trying to catch up on everything that went down, <a href="https://www.businessinsider.com/timeline-sam-altman-openai-shock-firing-microsoft-switch-2023-11" target="_blank" rel="noopener">start here</a>.) Some of you might view all this drama as a giant nothing burger: After all that, we're just back to where we started?!But that's not an accurate read on this. For one, OpenAI's board, <a href="https://www.businessinsider.com/marissa-mayer-comments-openai-board-broken-2023-11" target="_blank" rel="noopener">which sat at the center of all this drama</a>, has changed. Silicon Valley veteran Bret Taylor and former Treasury Secretary Larry Summers <a href="https://www.businessinsider.com/openai-board-larry-summers-bret-taylor-adam-dangelo-sam-altman-2023-11" target="_blank" rel="noopener">joined the board</a>, with Taylor set to chair. Adam D'Angelo is the lone holdover from the previous board. The changes reportedly won't stop there. The board will eventually expand, and OpenAI's <a href="https://www.businessinsider.com/why-it-was-easy-openai-board-fire-ceo-sam-altman-2023-11" target="_blank" rel="noopener">unique governance structure</a> will be overhauled, <a href="https://www.theverge.com/2023/11/22/23967223/sam-altman-returns-ceo-open-ai" target="_blank" rel="noopener">according to a report from The Verge</a>, citing people familiar with the matter. There will also be an investigation into how the whole saga went down, The Verge also reported. <a href="https://www.businessinsider.com/sam-altman-return-openai-ceo-2023-11"></a><div type="image" title="Sam Altman/Satya Nadella" height="1440" width="1920" msid="105422674" hostid="261" sizebytes="140484"></div>Many people will paint the past few days' events as a weird but minor setback in OpenAI's ultimate history.Greg Brockman, OpenAI's confounder and president who <a href="https://www.businessinsider.com/openai-president-greg-brockman-quits-sam-altman-ceo-ousted-2023-11" target="_blank" rel="noopener">quit in solidarity with Altman</a>, indicated it was back to business as usual. Shortly after the news broke, he posted on X that <a href="https://twitter.com/gdb/status/1727208843137179915" target="_blank" rel="noopener">he would start coding again</a>, followed by a <a href="https://twitter.com/gdb/status/1727230819226583113" target="_blank" rel="noopener">selfie with OpenAI employees celebrating</a>.OpenAI's investors would certainly like that to be the case. They've spent the past few days nervously watching what is likely the crown jewel of their portfolios teeter <a href="https://www.businessinsider.com/news-today-november-21-sam-altman-openai-tech-ai-2023-11" target="_blank" rel="noopener">dangerously close to a full-on implosion</a>. They'd like it back on track toward <a href="https://markets.businessinsider.com/news/stocks/openai-share-sale-chatgpt-90-billion-valuation-artificial-intelligence-investing-2023-9?_gl=1*1gpsnf3*_ga*MTQwNDU1NzEzMS4xNjkyMjgzNDcy*_ga_E21CV80ZCZ*MTcwMDY0MDUyOS4zNTEuMS4xNzAwNjQ1NjUwLjYwLjAuMA.." target="_blank" rel="noopener">another eye-popping valuation</a>. But can things just go back to normal?Take Altman, who, ironically, is now arguably one of the most untouchable executives in the world. His firing led <a href="https://www.businessinsider.com/openai-workers-threaten-to-quit-over-sam-altman-firing-2023-11" target="_blank" rel="noopener">nearly everyone at OpenAI to threaten to quit</a>. That type of <a href="https://www.businessinsider.com/sam-altman-openai-founder-ousted-ceo-genai-workers-quit-2023-11" target="_blank" rel="noopener">loyalty toward an executive is almost unheard of</a>, Business Insider's Tim Paradis writes. It gives Altman incredible leverage going forward. The next time a dispute arises, how can you argue with the guy who has an entire company willing to walk with him? Microsoft's CEO Satya Nadella, <a href="https://www.businessinsider.com/altman-openai-nightmare-microsoft-investor-says-2023-11" target="_blank" rel="noopener">a key figure in the past few days' drama</a>, comes out a winner. By helping to reinstall Altman at OpenAI, he stabilizes a <a href="https://www.businessinsider.com/microsoft-caught-up-with-google-ai-openai-chatgpt-2023-2" target="_blank" rel="noopener">key piece of Microsoft's AI strategy</a>. But it didn't come easy. In the midst of the turmoil, Microsoft CTO Kevin Scott said the company would hire hundreds of OpenAI employees. <a href="https://www.businessinsider.com/microsoft-employees-fume-promise-hire-openai-2023-11" target="_blank" rel="noopener">That did not sit well with some current Microsoft staffers</a>, who have dealt with layoffs, a salary freeze, and cuts to its bonus budget this year, Business Insider's Ashley Stewart and Julie Bort write.<h2>3 things in markets</h2><a href="https://www.businessinsider.com/binance-cz-fine-hamas-islamic-state-treasury-department-2023-11"></a><div type="image" title="Binance CEO, Changpeng Zhao" height="750" width="1000" msid="105422675" hostid="261" sizebytes="13520"></div><ol><li> Binance's CEO will step down and plead guilty in an anti-money-laundering probe. The justice department said <a href="https://www.businessinsider.com/zhao-changpeng-binance-billionaire-crypto-mcdonalds-fast-food-wealth-lifestyle-2022-10" target="_blank" rel="noopener">Changpeng Zhao</a> is pleading guilty to breaking anti-money-laundering law. Meanwhile, Binance will pay a <a href="https://www.businessinsider.com/binance-cz-fine-hamas-islamic-state-treasury-department-2023-11">$4.3 billion fine</a> at a federal court, per the treasury department. </li><li> Christmas came early for the stock market. But is that a good thing? December is usually a strong month for the markets, <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-santa-claus-rally-christmas-inflation-economy-chatgpt-2023-11" target="_blank" rel="noopener">leading some to dub it a "Santa Claus Rally."</a> But with the S&amp;P 500 up 10% since late October, some wonder if that means we'll have a quiet December. However, another indicator shows <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-investors-rally-sectors-2024-datatrek-wall-street-2023-11" target="_blank" rel="noopener">the rally could last to year's end</a>.</li><li>The ETF market is getting the Ozempic treatment. HRTS is a new ETF that tracks companies <a href="https://markets.businessinsider.com/news/etf/ozempic-weight-loss-etf-eli-lilly-novo-nordisk-stock-market-2023-11" target="_blank" rel="noopener">involved in anti-obesity and cardiovascular-related treatments</a>. And while we're talking ETFs, ones that track <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-meme-investors-gamestop-etf-wall-street-retail-2023-11" target="_blank" rel="noopener">meme stocks are on the rise</a>.</li></ol><h2>3 things in tech</h2><a href="https://www.businessinsider.com/elon-musk-twitter-antisemitism-drama-good-for-rivian-competition-2023-11"></a><div type="image" title="A Rivian charging at an EV charging station" height="666" width="888" msid="105422677" hostid="261" sizebytes="49058"></div><ol><li> Rivian is the real winner in Elon Musk's latest drama. The Tesla CEO boosted a post that expressed antisemitic sentiments. And now, some Tesla owners are saying that they'll <a href="https://www.businessinsider.com/elon-musk-twitter-antisemitism-drama-good-for-rivian-competition-2023-11" target="_blank" rel="noopener">ditch their vehicles in favor of Rivians</a>.</li><li> Jack Dorsey is getting rid of performance improvement plans. Instead, the Block cofounder and CEO is in favor of "parting ways immediately." Managers will move away from annual reviews. Instead, they'll be "constantly evaluating" workers so they can "<a href="https://www.businessinsider.com/jack-dorsey-ending-pips-at-block-names-new-cto-2023-11" target="_blank" rel="noopener">part ways without delay</a>."</li><li>Leaked email: Amazon's six new areas of focus for its artificial general intelligence group. The newly created group is going through major restructuring. Now, it's <a href="https://www.businessinsider.com/amazon-agi-ai-restructuring-new-products-2023-11" target="_blank" rel="noopener">focusing on areas</a> like conversational assistant services, foundational models, and data services.</li></ol><h2>3 things in business</h2><a href="https://www.businessinsider.com/best-side-hustles-for-introverts-2023-11"></a><div type="image" title="digital illustration of woman working on a computer" height="680" width="907" msid="105422678" hostid="261" sizebytes="34044"></div><ol><li> Side hustles for introverts. These <a href="https://www.businessinsider.com/best-side-hustles-for-introverts-2023-11" target="_blank" rel="noopener">remote online businesses</a> don't require face-to-face interactions. The top options include UX designing, blogging, and online survey taking.</li><li> Meet the 30 rising stars of Madison Ave who revolutionized advertising this year. The changemakers include people from a variety of roles and backgrounds, including media, creativity, strategy, and production. <a href="https://www.businessinsider.com/meet-rising-stars-of-madison-avenue-2023-11" target="_blank" rel="noopener">Meet them here</a>.</li><li>Millennials say they need $525,000 a year to be happy. A Nobel prize winner's research <a href="https://www.businessinsider.com/millennials-annual-income-price-of-happiness-wealth-retirement-generations-survey-2023-11" target="_blank" rel="noopener">shows they're not wrong</a>. Factors like high inflation, interest rates, and student loans have impacted Americans' financial happiness.</li></ol><h2>In other news</h2><ul><li><a href="https://www.businessinsider.com/israel-hostage-deal-major-diplomatic-breakthrough-gaza-war-2023-11" target="_blank" rel="noopener">Israel and Hamas agree to hostage deal in a major diplomatic breakthrough.</a></li><li><a href="https://www.businessinsider.com/trump-worst-day-ny-fraud-trial-thanks-to-defense-witness-2023-11" target="_blank" rel="noopener">Donald Trump has worst day yet in NY civil fraud trial as underling's scribbled note ties him to conspiracy</a></li><li><a href="https://www.businessinsider.com/turbulence-getting-worse-cause-climate-change-bumpy-flight-2023-11" target="_blank" rel="noopener">Be warned: Flights are getting bumpier</a>.</li><li><a href="https://www.businessinsider.com/taylor-swift-swifties-white-millennial-suburban-democrat-50k-eras-tour-2023-11" target="_blank" rel="noopener">Meet the typical Swiftie: A white suburban millennial woman who may have spent $1,300 to go to the Eras Tour</a>.</li><li><a href="https://www.businessinsider.com/how-to-deal-with-stress-burnout-work-mental-health-professional-2023-11" target="_blank" rel="noopener">"I burned out as a management consultant after debilitating migraines. Now I deal with stress much better — here's my advice.</a>"</li><li><a href="https://www.businessinsider.com/walmarts-black-friday-crowds-chaos-over-employees-couldnt-be-happier-2023-11" target="_blank" rel="noopener">Walmart Black Friday crowds and chaos are a thing of the past — but the deals could be better than ever</a>.</li><li><a href="https://www.businessinsider.com/elon-musk-grimes-moving-california-avoid-texas-court-custody-battle-2023-11" target="_blank" rel="noopener">Elon Musk fights to keep custody battle in Texas, where he'd only have to pay $2,760 a month in child support</a>.</li><li><a href="https://www.insider.com/dangerous-foods-2017-8" target="_blank" rel="noopener">17 of the most dangerous foods in the world</a>.</li></ul><h2>What's happening today</h2><ul><li>India is hosting the virtual G20 Leaders' Summit. Expected attendees include Russian President Vladimir Putin.</li><li>Happy birthday, Billie Jean King! Jamie Lee Curtis, Scarlett Johansson, and Hailey Bieber are also celebrating today.</li><li>Earnings today: John Deere <a href="https://markets.businessinsider.com/earnings-calendar" target="_blank" rel="noopener">and other companies</a>.</li></ul><h3>For your bookmarks</h3><h2>Advice from the world's oldest people</h2><a href="https://www.insider.com/changes-researchers-made-from-centenarian-longevity-advice-2023-11"></a><div type="image" title="LongeviQuest's Ben Meyers, Yumi Yamamoto, and Fabrizio Villatoro with Japan's oldest person, Fusa Tatsumi on her 116th birthday" height="853" width="1138" msid="105422679" hostid="261" sizebytes="97276"></div>Longevity researchers share four life changes they've made based on advice from over 1,000 centenarians. Their tips include staying away from "toxic people" and <a href="https://www.insider.com/changes-researchers-made-from-centenarian-longevity-advice-2023-11" target="_blank" rel="noopener">occasionally having treats</a>.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

Sam Altman's return to OpenAI doesn't necessarily mean a return to normalcy

New Delhi, Jan 13 () Following are the top business stories at 1818 hours:
 
DEL70 BIZ-INFLATION
Retail inflation jumps to 7.35 pc in Dec, crosses RBI's comfort level
New Delhi: Retail inflation jumped sharply to 7.35 per cent in December 2019, surpassing the RBI's comfort level, mainly due to high food prices, a government data showed on Monday.
 
DCM26 BIZ-LD WALMART-LAYOFF
Walmart sacks 56 employees, including 8 top execs; says no plan to exit India
New Delhi: World's largest retailer Walmart Inc on Monday said it has sacked 56 of its executives in India, including eight from senior management level, as it restructures its business in the country. 
 
DEL57 BIZ-RUPEE-CLOSE
Rupee extends gains by 8 paise to 70.86 against US dollar
Mumbai: The rupee rose 8 paise to settle at 70.86 against the US dollar on Monday as investor sentiment strengthened amid positive global cues and gains in domestic equity market.
 
DCM38 BIZ-GST-FRAUD
Revenue dept detects 931 GST fraud cases through data analytics
New Delhi: The Department of Revenue has identified 931 cases of fraudulent GST refund claims through data analytics and has now tasked the GST data analytics wing to scrutinise all past and pending refund claims filed all over the country for inverted duty structure, sources said. 
 
DEL55 BIZ-LD STOCKS
Benchmarks soar to record highs on earnings, global cues; Infy rallies 5 pc
Mumbai: The Sensex and Nifty vaulted to record highs on Monday as investors scooped up tech, banking and metal stocks amid a rally in global markets in anticipation of the US-China trade deal.
 
DCM37 BIZ-SEBI-LD CMD
Sebi extends deadline to Apr 2022 to split CMD post
New Delhi: Markets regulator Sebi has deferred by two years to April 2022 its directive for listed companies to split the roles of chairman and managing director in view of demand from corporates and to keep compliance burden lower in the wake of the current economic scenario. 
 
 
 
 
 
 SHW
SHW

Business highlights

Good morning! This is the tech news you need to know this Wednesday.<ol><li><a href="https://www.businessinsider.com/twitter-fact-checks-false-trump-tweets-mail-in-voting-2020-5?op=1">Twitter has for the first time added fact-checking links to Trump's false tweets about voting by mail</a>. Trump falsely claimed on Tuesday that mail-in ballots cast in California will be "substantially fraudulent" and result in a "Rigged Election."</li><li><a href="https://www.businessinsider.com/facebook-mark-zuckerberg-dismisses-changes-algorithm-encourages-polarization-extremism-2020-5">Mark Zuckerberg reportedly brushed aside internal research that showed Facebook exposed users to more and more extreme views</a>. Though Facebook's experts found that the platform contributed to divisive rhetoric, senior executives dismissed proposed changes, some which would adversely affect user engagement. </li><li><a href="https://www.businessinsider.com/youtube-deleting-comments-china-government-sponsored-hacker-army-2020-5">YouTube has been auto-deleting comments about China's government-sponsored hacker army, but says it is 'an error in our enforcement systems.'</a> The video platform has been deleting comments that contain two phrases that are directly tied to criticism of the Chinese government.</li><li><a href="https://www.businessinsider.com/local-news-outlets-amazon-provided-content-without-telling-viewers-2020-5">11 local news stations praised Amazon's health and safety practices but didn't tell viewers the company had provided the content</a>. The script and footage used in the nearly identical segments were part of a package pre-produced by Amazon spokesperson Todd Walker and distributed to news stations in a press release.</li><li><a href="https://www.wsj.com/articles/amazon-in-advanced-talks-to-buy-self-driving-car-tech-company-zoox-11590538611?mod=djemalertNEWS">Amazon is in advanced talks to buy self driving car company Zoox in a move that would expand the e-commerce giant's reach in autonomous-vehicle technology</a>. The companies are discussing a deal that would value Zoox at less than the $3.2 billion it achieved in its last private funding round in 2018, The Wall Street Journal reported.</li><li><a href="https://www.wsj.com/articles/advertisers-seek-to-revise-deal-terms-with-streamer-quibi-11590519825?mod=djemalertNEWS">Major advertisers are seeking to revise the terms of their deals with streaming service Quibi after its lackluster launch last month</a>. Companies including PepsiCo, Taco Bell, and Walmart, have asked for the changes because of concerns about the service's low viewership or the impact of the coronavirus pandemic on their businesses, the Wall Street Journal reported.</li><li><a href="https://www.businessinsider.com/google-will-reopen-offices-on-july-6-2020-5">Google will reopen offices starting July 6 for a small number of employees, but warns that things will 'look and feel different' than when they left</a>. Employees who do return will be met with a very different office, CEO Sundar Pichai said, promising that there will be "rigorous health and safety measures in place."</li><li><a href="https://www.cnbc.com/2020/05/26/apple-to-open-about-100-more-stores-in-us-focus-on-curbside-service.html">Apple plans to open approximately 100 more stores in 21 states this week</a>. When the stores re-open, about 130 Apple stores will be operational in the United States with most focusing on curbside services.</li><li><a href="https://www.businessinsider.com/uber-india-cuts-600-jobs-amid-coronavirus-outbreak-2020-5">Uber cut 600 jobs from its India offices as the ride-hailing giant's wave of layoffs go global</a>. India's countrywide lockdown to contain the spread of the coronavirus has hit both Uber and its South Asia ride-hailing competitor Ola hard.</li><li><a href="https://www.engadget.com/switzerland-swisscovid-coronavirus-contact-tracing-app-pilot-153813626.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cudGVjaG1lbWUuY29tLw&amp;guce_referrer_sig=AQAAAEWfUy71dsZAcpUqxvqw7ksyum_CAs5kMAPi38RO83OnvDUXnPhcVGChHUKc8XRViHXsCST2zy1oi-5WobkshjDrZ4hwES_MOZWeyjVdKpf9t8wu6BUbWHKwk1grLDPw09gbplZY-tGPqh-BsLdPRhcdb50MmJv8U5G8yaDTDwTQyaDTDwTQ">Switzerland has piloted a contact tracing app using Apple and Google's tech, becoming the first country to do so</a>. SwissCovid will alert users if someone who has been in close proximity to them has tested positive for Covid-19.</li></ol>Have an Amazon Alexa device? Now you can hear <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword> each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.You can also <a href="https://newsletter.businessinsider.com/join/free">subscribe to this newsletter</a> here — just tick "10 Things in Tech You Need to Know."Read the original article on <a href="https://www.businessinsider.com/10-things-in-tech-you-need-to-know-today-may-27-2020-5">Business Insider</a>

10 things in tech you need to know today

Courtesy AltoAlto Pharmacy chief technology officer Jamie Karraker and CEO Matt Gamache-Asselin<ul class="summary-list"><li>Alto Pharmacy, a startup that delivers medications, just became the SoftBank Vision Fund's first foray into the pharmacy business.</li><li>Reuters reported in January that Alto had <a href="https://www.reuters.com/article/us-altopharmacy-funding-exclusive/exclusive-softbank-leads-latest-alto-pharmacy-funding-round-at-over-1-billion-valuation-idUSKBN1ZT19K?il=0">raised $250 million in a round led by SoftBank Vision Fund 2, which valued the company at more than $1 billion. </a></li><li>"Really from the beginning I was surprised by the level of depth and rigor that got put on profitability and economics," Alto CEO Matt Gamache-Asselin said of SoftBank's investment in the startup. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>SoftBank is turning to US consumer healthcare startups as it begins to make its next round of mega-investments.SoftBank's Vision Fund 2 led a $250 million investment round in Alto Pharmacy, a startup that uses couriers to deliver medications from its brick-and-mortar locations. GreenOaks Capital, Jackson Square Ventures, Olive Tree Capital and Zola Global also joined in on the Series D round. In total, the startup has <a href="https://www.businessinsider.com/alto-pharmacy-raises-50-million-2018-12">raised more than $350 million</a>. The investment marks the start of Vision Fund 2's foray into US consumer healthcare, according to a person familiar with the mater. The Vision Fund team plans to make more investments into consumer-facing healthcare, such as <a href="https://www.businessinsider.com/booming-direct-consumer-healthcare-business-2018-10">direct-to-consumer health companies</a> and <a href="https://www.businessinsider.com/disruptive-primary-care-companies-iora-health-one-medical-chenmed-2019-8">primary care companies</a>, the person said.The latest funding round puts Alto's valuation at more than $1 billion, <a href="https://www.reuters.com/article/us-altopharmacy-funding-exclusive/exclusive-softbank-leads-latest-alto-pharmacy-funding-round-at-over-1-billion-valuation-idUSKBN1ZT19K?il=0">Reuters reported</a>. The funding was also reported in January by <a href="https://www.cnbc.com/2020/01/30/alto-raises-250-million-from-softbank-vision-fund-2-others.html">CNBC</a>. Reuters said that Vision Fund 2 contributed the majority of the $250 million.Alto has plans to use the funds to grow its footprint nationally, after years of focusing on the startup's northern and southern California footprints, CEO Matt Gamache-Asselin told Business Insider. The startup will enter five to 10 markets over the next year, he said."We really spent the first four years refining that playbook," Gamache-Asselin said. Alto marks the latest big-ticket investment for the SoftBank's Vision Fund 2, <a href="https://www.businessinsider.com/softbank-108-billion-vision-fund-ii-2019-7">which was announced in July 2019</a> and has yet to close. To date, SoftBank Group is the sole investor in Vision Fund 2.SoftBank's Vision Fund is known for pouring hundreds of millions into growing companies like WeWork and Uber, but lately has come under scrutiny as WeWork's initial public offering fell apart and some investments expected out of the Vision Fund <a href="https://www.axios.com/softbank-walk-away-startups-honor-creator-seismic-8d4adc0c-dcfb-42d3-982e-f422a9963be8.html">have fallen through</a>. A number of SoftBank-backed companies like WeWork, Oyo, and Zume, <a href="https://www.businessinsider.com/heres-how-many-people-have-been-laid-off-at-softbank-companies-2020-1">have gone through layoffs</a> as their businesses faltered.Read more: <a href="https://www.businessinsider.com/softbank-backed-oyo-layoffs-us-offices-2020-1">Oyo, the 'jewel' in SoftBank's startup portfolio, just announced more layoffs in the US weeks after cutting thousands of jobs in India and China</a><h2>What it's like when SoftBank invests</h2>Despite the challenges at SoftBank, from where Gamache-Asselin sits, the process hasn't felt that different from other venture investors he's met with. "There's more mystery around SoftBank than there probably should be," Gamache-Asselin said. "In most ways they've behaved and acted like every other Silicon Valley investor we've worked with."The talks between Alto and the SoftBank team began about 18 months ago, around the time Alto was raising its last round of funding. The talks became more serious starting 6 months ago, at which point the investment had to be vetted with SoftBank's investment council via a video conference, which included SoftBank Group CEO Masayoshi Son.While SoftBank has backed a number of enterprise healthcare and biotech companies like Collective Health and Roivant, Alto's the first consumer healthcare investment made by <a href="https://visionfund.com/team/justin-wilson">Justin Wilson</a>, a partner who's also an investor in <a href="https://www.businessinsider.com/softbank-backed-oyo-layoffs-2020-1">Oyo</a> and <a href="https://www.businessinsider.com/softbank-backed-compasss-real-estate-agent-tech-stack-2019-12">Compass</a>.Even early on as Alto started talking to the Vision Fund team, Gamache-Asselin noted an emphasis on profitability while thinking about the startup's future. "Really from the beginning, I was surprised by the level of depth and rigor that got put on profitability and economics," he said. Read more: <a href="https://www.businessinsider.com/how-to-raise-money-from-softbanks-vision-fund-2019-9">Here's everything we know about how startups raise money from SoftBank's $100 billion Vision Fund</a><h2>How Alto is taking on the pharmacy market</h2>Alto CEO Gamache-Asselin told Business Insider that the company has recently launched into new markets, expanding into Seattle and Denver in January. Alto also operates in Las Vegas.Prior to that, Alto had just been in California markets around San Francisco and Los Angeles. Alto's also expanded to 400 employees, or as Gamache-Asselin dubbed them, "Altoids." The ranks include veterans from <a href="https://www.linkedin.com/in/layne-martin-b96b563/">McKesson,</a> <a href="https://www.linkedin.com/in/stefan-boyd-50b33a1/">Amazon</a>, and <a href="https://www.linkedin.com/in/neil-frye-54755319/">Dropbox</a>.For now, Alto only offers fertility medications out of its pharmacies in Seattle and Denver. Partners wanted Alto to be in those markets, Gamache-Asselin said, which helped get the startup into those areas. Alto hasn't completed all the contracting and administrative work to operate as a full-service pharmacy in those cities yet, he said.Gamache-Asselin said the startup has expanded at a measured pace over time, because it didn't want to outgrow its ability to provide good service to patients. It's not been easy to grow as fast as the startup would like, even in the initial California markets, he said.Read more: <a href="https://www.businessinsider.com/how-independent-pharmacists-survive-against-amazon-cvs-2018-11">Amazon is threatening the future of independent pharmacies. Here's how they're fighting back.</a>Alto's growth comes at a time when the pharmacy industry is getting more competitive, as new entrants like Amazon look to make a foothold while existing players like CVS Health and <a href="https://www.businessinsider.com/walgreens-stock-and-strategy-microsoft-partnership-for-clinics-2020-1">Walgreens</a> look for a more sustainable business model. Amazon <a href="https://www.businessinsider.com/amazon-pharmacy-pillpack-acquisition-merger-latest-push-into-healthcare-2018-6">in 2018 acquired</a> the online pharmacy PillPack, launching it into the prescription-drug business.Alto, which was founded in June 2015, isn't alone in the business of prescription delivery via couriers. Others, including the New York City-based Capsule, are taking a similar approach to getting folks their medications. Capsule for its part raised <a href="https://www.bloomberg.com/news/articles/2019-09-13/pharmacy-startup-capsule-raises-200-million-to-grow-beyond-nyc">$200 million in 2019</a> as it plots a national expansion. <a href="https://www.businessinsider.com/how-independent-pharmacists-survive-against-amazon-cvs-2018-11">Independent pharmacies</a> as well as retail giants like <a href="https://www.businessinsider.com/cvs-health-offers-prescription-delivery-2018-6">CVS</a> have also been exploring ways to deliver medications to people. Read more: <a href="https://www.businessinsider.com/health-strategies-of-cvs-health-walmart-amazon-kroger-and-walgreens-2019-9">Companies like Walmart, CVS, and Amazon are beefing up their healthcare strategies. Here are their plans to upend the $3.6 trillion industry.</a><a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-far-sneeze-cough-germs-can-travel-2018-10">This animation shows how far your sneeze can actually travel</a></h3>

SoftBank's Vision Fund 2 just made its first bet on a buzzy US pharmacy startup. The CEO of Alto told us how he plans to use the fresh $250 million.

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">IBMIBM CEO Ginni Rometty.</div></div></div>President-elect Donald Trump has created a new advisory group of business leaders to "frequently" advise him on economic matters.The list includes big names like Jack Welch, the former Chairman and CEO of General Electric, Jamie Dimon, the Chairman and CEO of JPMorgan Chase &amp; Co and Bob Iger, The Walt Disney Company Chairman and CEO.But there is only CEO from the tech industry. IBM's Ginni Rometty. Rometty is an interesting choice for a lot of reasons. She's not from the center of the tech universe, Silicon Valley. IBM is headquartered in New York. We don't know if she knows Trump personally or not, but as a fellow New Yorker, its likely they've at least hobnobbed a time or two.Rometty<a href="http://www.businessinsider.com/ginni-rometty-is-a-true-geek-2015-2"> is a bona fide geek</a> who definitely has a vision for how tech is going to change the world. She calls it "cognitive computing" and she believes the day is coming when humans will consult thinking, learning, rational computers for every decision that they make. She's sees this brave new computing world changing actually "changing who you are," she's <a href="http://www.businessinsider.com/ibm-ceo-smart-computers-will-change-you-2016-1">said in various keynote speeches. </a>And IBM under Rometty has publicly taken stances regarding potentially discriminatory state laws. Her name was among 80 who signed<a href="http://www.businessinsider.com/apple-ibm-facebook-ceos-oppose-law-2016-3"> a letter asking North Carolina to repeal its controversial bathroom law,</a> which forbids transgender people from using bathrooms based on their gender identify and also forbids local governments from creating other ordinances that outlaw discrimination based on sexual orientation or identity.<h2>At odds on outsourcing</h2>On the other hand, IBM, particularly under her leadership, is a classic global American company that <a href="https://www.bloomberg.com/news/articles/2015-05-19/iowa-spent-50-million-to-lure-ibm-then-the-firings-started">routinely lays off US workers</a>. The company employs about 380,000 people and in <a href="http://www.computerworld.com/article/2520399/it-outsourcing/ibm-stops-disclosing-u-s--headcount-data.html">2010 it stopped disclosing its US headcount</a>, amidst criticisms that it has been offshoring jobs to countries like India.This is the kind of thing Trump campaigned against. He even criticized <a href="http://www.wsj.com/articles/ibm-ceo-offers-donald-trump-advice-1479289309">IBM's layoffs</a> in a Nov. 6 campaign speech in Minnesota, <a href="http://www.wsj.com/articles/ibm-ceo-offers-donald-trump-advice-1479289309">the Wall Street Journal reported.</a>Shortly after Trump won the election, Rometty <a href="https://www.ibm.com/blogs/policy/ibm-ceo-ginni-romettys-letter-u-s-president-elect/">penned an open letter to him</a>.In it, she praised his ideas and suggested that the federal government (which is a huge IBM customer) buy more IBM technology in the future. She gave pitches on hiring IBM to "fight government waste" and to help the Department of Veterans Affairs with its health care issues.She also suggested Trump focus on vocational training as an alternative to college, offering IBM's model of 6-year high-schools as a model. And she applauded his tax reform ideas, which promise to cut corporate taxes and allow companies to bring home their offshored cash hoards at a low tax rate, too. The letter didn't, however, mention any of his campaign positions on social issues that were the subject of protests and riots nationwide at the time.And that caused one IBM employee to write her own open letter to Rometty to announce her resignation in protest of Rometty's letter to Trump. The <a href="https://shift.newco.co/an-open-letter-to-my-boss-ibm-ceo-ginni-rometty-cf40c3ed5ddb#.ugof307t2">employee's letter went viral</a>. It accused IBM under Rometty of "a willingness to legitimize threats to our country for financial gain."So all-in-all, a very interesting choice of the CEO selected to represent the tech industry.Here's the full list from a press release <a href="https://www.blackstone.com/media/press-releases/article/president-elect-trump-establishes-the-president-s-strategic-and-policy-forum">issued by Blackstone.</a><ul><li>Stephen Schwarzman (forum chairman), chairman, CEO, and cofounder of Blackstone</li><li>Paul Atkins, CEO of Patomak Global Partners, former commissioner of the Securities and Exchange Commission</li><li>Mary Barra, chairwoman and CEO, General Motors</li><li>Toby Cosgrove, CEO, Cleveland Clinic</li><li>Jamie Dimon, chairman and CEO, JPMorgan Chase &amp; Co.</li><li>Larry Fink, chairman and CEO, BlackRock</li><li>Bob Iger, chairman and CEO, The Walt Disney Company</li><li>Rich Lesser, president and CEO, Boston Consulting Group</li><li>Doug McMillon, president and CEO, Wal-Mart Stores Inc.</li><li>Jim McNerney, former chairman, president, and CEO of Boeing</li><li>Adebayo "Bayo" Ogunlesi, chairman and managing partner, Global Infrastructure Partners</li><li>Ginni Rometty, chairwoman, president, and CEO of IBM</li><li>Kevin Warsh, Shepard Family Distinguished Visiting Fellow in economics at the Hoover Institute, former member of the Board of Governors of the Federal Reserve System</li><li>Mark Weinberger, global chairman and CEO, EY</li><li>Jack Welch, former chairman and CEO, General Electric</li><li>Daniel Yergin, Pulitzer Prize winner, vice chairman of IHS Markit</li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/places-on-google-maps-you-cant-see-2016-11">7 places you can't find on Google Maps</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="pteGJuNzE6aqsfMCzpxuMIAqKUyVke3D" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

There's only one tech CEO on Trump's economic advisory team - and she's not from Silicon Valley

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Before the market opens on Thursday, here's what you need to know. Shake Shack crushed earnings. The burger chain announced <a href="http://www.businessinsider.com/shake-shack-q1-earnings-may-13-2015-5">adjusted earnings of $0.04 per share</a>, outpacing the $0.03 loss that was anticipated. Revenues surged 56.3% to $37.8 million, easily topping the $33.96 million Wall Street was expecting. The closely followed Same-Shack Sales metric jumped 11.7% for the first quarter, and the company announced it expects full-year revenues of $161-$165 million with same-store sales growth in the low- to mid-single digits. John Chambers left Cisco with a bang. The departing CEO led Cisco Systems to a <a href="http://www.businessinsider.com/cisco-reports-third-quarter-earnings-2015-5">top and bottom line beat</a> in his final quarter. Cisco announced revenues rose 5.1% to $12.1 billion, slightly outpacing the $12.07 billion that was expected. On the bottom line, the company earned an adjusted $0.54 per share, topping the Wall Street estimate of $0.53. Chambers will become executive chairman in July after spending the last 20 years as CEO. J.C. Penney posted a mixed quarter. The retailer lost $0.55 per share, easily beating the $0.77 loss that was anticipated. Revenues edged up 2.0% to 2.857 billion, which was just shy of the $2.86 billion analysts were expecting. <a href="http://www.usatoday.com/story/money/2015/05/13/jc-penney-earnings-report/27248097/">The company raised the lower end of its same-store sales forecast</a> to an increase of 4% to 5%, up from its previous guidance of 3% to 5%.India's wholesale prices fell for a sixth straight month. India's Wholesale Price Index fell 2.65% year-over-year, which was faster than the 2.2% YoY drop that was expected. The number was <a href="http://www.wsj.com/articles/indias-wholesale-prices-fall-for-sixth-consecutive-month-1431588191">largely impacted by the 13% drop in oil prices</a> versus a year ago. The rate of food price growth slowed to up 5.73% YoY from the 6.31% rise in March. India's rupee is up 0.5% at 63.7012 per dollar. The Philippines' central bank kept policy unchanged. Bangko Sentral ng Pilipinas <a href="http://www.bloomberg.com/news/articles/2015-05-14/philippines-holds-interest-rates-with-growth-seen-accelerating">held its benchmark interest rate at 4.00%</a>, as expected. The central bank upped its inflation forecast for 2015 to 2.3% as a result of the weaker peso and unseasonal weather. The Phillipines' peso strengthened 0.2% to 44.591 per dollar. Saudi Arabia says its plan to hurt US shale is working. Saudi Arabia's production hit a record high 10.3 million barrels per day in April. <a href="http://www.ft.com/intl/cms/s/2/69350a3e-f970-11e4-be7b-00144feab7de.html#axzz3a5a6C0mu">A Saudi official told FT</a>, "There is no doubt about it, the price fall of the last several months has deterred investors away from expensive oil including US shale, deep offshore and heavy oils." West Texas Intermediate crude oil is trading higher by 0.2% at $60.62 per barrel. Wal-Mart is testing an unlimited shipping service. The world's largest retailer is <a href="http://www.bloomberg.com/news/articles/2015-05-13/wal-mart-to-test-online-shipping-service-to-rival-amazon-prime">testing an unlimited shipping service</a> that will compete with Amazon Prime. The service will cost $50 per a year, and deliver items purchased on-line in three days or less. Sharp is in a fight for its survival. The electronics maker <a href="http://www.businessinsider.com/afp-japans-sharp-to-report-1.6-bln-loss-thousands-of-job-cuts-reports-2015-5#ixzz3a5ZXz5qk">will announce a $1.68 billion loss for its fiscal year, and thousands of layoffs</a>, as it struggles to survive. Japanese Newspaper Nikkei suggests as much as 10% of Sharp's labor force could be out of work. Global stock markets are mostly lower. Japan's Nikkei (-1.0%) led the way lower in Asia while France's CAC (-0.1%) slips in European trade. S&amp;P 500 futures are up 9.25 points at 2103.75. US economic data flows. Initial and continuing claims and PPI will be released at 8:30 a.m. ET. while natural gas inventories are scheduled to cross the wires at 10:30 a.m. ET. US Treasury will auction $16 billion 30-year bonds at 1 p.m. ET. The US 10-year yield is down 4 basis points at 2.25%. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-to-burpee-full-body-workout-2015-3">This simple exercise will work out every muscle in your body</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lyeGY3dDqIOrfWUeyzqcSzvAuvKi9t3n" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before the opening bell

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Eugene KimSalesforce CEO Marc Benioff welcomes Uber CEO Travis Kalanick into the winners' circle.</div></div></div>Investors and technology enthusiasts focus on the new: New companies, new products, new technologies. But the real runaway successes - the hundred-billion dollar companies - come when a tech product has become such an integral part of everybody's lives that nobody thinks about it anymore. It's just there.Think about the Windows PC. The web browser. Google. The iPhone. In 2015, there weren't a lot of great new tech products or categories. What was the iPhone of this year? The Apple Watch? Hoverboards? Please.Mostly, existing products and companies consolidated their gains. These five companies exemplified that trend. None of them rocked the world with a brand new product or category. But all of them quietly consolidated and are well positioned to dominate in 2016.<h2>Uber </h2>This was the year that the world's largest "startup" became part of the standard vocabulary in the U.S., like Google did in the last decade. "Let's get an Uber" has replaced "Let's call a cab." Uber has even become common in <a href="http://www.xxlmag.com/news/2015/03/14-hip-hop-songs-uber-shout-out/">hip-hop lyrics</a>. Behind the scenes, Uber continued its clever strategy of <a href="http://www.businessinsider.com/uber-apps-are-everywhere-2015-12">making its app available anywhere and everywhere</a> - an expensive prospect that few other app companies bother with - and so far it hasn't been dented by lawsuits that seek to force it to reclassify its drivers as employees rather than contractors.One of Uber's earliest competitors, Sidecar, just <a href="http://www.businessinsider.com/sidecar-is-shutting-down-2015-12">threw in the towel</a>. The other big one, Lyft, keeps raising money, but outside of San Francisco and techies in a few other cities like Austin, nobody calls a Lyft. They call an Uber. Lyft's main play now is teaming up with international competitors like Didi (China) and Ola (India) to stop Uber's expansion into those countries. Barring some major black swan - a huge global downturn that makes it impossible to raise cash to cover its expansionary burn, some major legal or personnel setback - look for 2016 to be the year where Uber vanquishes all doubt. One big tech winner emerges from the ranks of startups in every generation - Amazon from the dot-com era, Facebook from the web 2.0 era. Uber is the winner of the current post-recession era. Uber is still private and <a href="http://www.businessinsider.com/uber-is-about-to-raise-a-giant-round-at-a-65-billion-valuation-heres-how-thats-even-possible-2015-11">restricts its stock trading</a>, but its most recent valuation of $62.5 billion puts it into pretty good company:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Statista</div></div></div><h2>Facebook</h2>Facebook was already ubiquitous in most people's lives before this year, but the company consolidated its gains this year, expanding well beyond a place where people share news about their families and into one of the top communications companies in the world.Forget Apple's iMessage - Facebook doesn't even have a mobile phone platform and its Messenger app (which is <a href="http://www.businessinsider.com/facebook-messenger-ambitions-2015-10">just getting started</a>) and WhatsApp apps reach more than a billion people between them.Instagram has replaced Facebook as the social app of choice among teens - which is fine, since Facebook owns it. Facebook is turning into one of the top destinations (alongside Google's YouTube) for online video. It's also scaring the pants off the media industry as it becomes the top way people share news stories.But perhaps the best evidence of Facebook's consolidation over social media can be seen relative to its two biggest competitors. Twitter's number of monthly average users stalled out this year and it went through a troublesome CEO change and layoffs. LinkedIn is doing better - its monthly average user base <a href="http://investors.linkedin.com/secfiling.cfm?filingID=1271024-15-29&amp;CIK=1271024">grew 11%</a> between Q3 2015 and a year before - but it's a fraction of Facebook's size, at around 100 million monthly users, versus <a href="http://www.businessinsider.com/more-than-1-billion-people-a-day-used-facebook-in-september-2015-11">1.55 billion for Facebook</a>.That's right - about one-fifth of the world's people use Facebook at least once a month.Meanwhile, Facebook has a ton of futuristic projects cooking, from the virtual reality Oculus Rift, which will launch next year, to gigantic solar-powered drones that beam Internet down to developing countries. It will dominate in 2016.Here's Facebook's stock performance for the year - up over 37%.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Yahoo Finance (screenshot)</div></div></div><h2>Amazon</h2>Like Facebook, Amazon the e-commerce site was already ubiquitous in most people's lives, and this year it continued to dominate - more than half of Americans said they'd do <a href="http://www.businessinsider.com/amazon-dominates-holiday-shopping-2015-12">"most"</a> of their holiday shopping on Amazon. WalMart was number two, with only 16%.But a lot of people didn't realize how ubiquitous Amazon has become inside businesses as well.This was the year that became clear, as Amazon broke out the financial results of its Amazon Web Services business, which allows companies to outsource their computing needs to Amazon's massive world-spanning infrastructure rather than having to build and maintain their own data centers. Surprise number one: It's <a href="http://www.businessinsider.com/aws-earns-1-billion-a-year-on-6-billion-in-profit-2015-4">profitable</a>. Surprise number two: It's already massive, on track to book more than $7 billion in revenue in 2015.We've long known that buzzy startups from Yelp to Foursquare to Spotify run on AWS. Now, we know that big companies like Netflix, Intuit, and Juniper (a company that sells networking gear!) are moving their full infrastructure over to AWS as well. Microsoft, Google, and a host of other cloud computing companies are making progress, but Amazon is the one to beat. Its stock more than doubled this year - up 125% to date.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Yahoo Finance (screenshot)</div></div></div><h2>Salesforce</h2>Do you use Salesforce every day? If the answer is no, walk over to somebody at your company who is involved with selling your product. Do they use Salesforce every day? Chances are, they do.According to <a href="http://www.forbes.com/sites/louiscolumbus/2015/05/22/gartner-crm-market-share-update-47-of-all-crm-systems-are-saas-based-salesforce-accelerates-lead/">Gartner</a>, Salesforce is both the number-one and fastest-growing entry in a product category called CRM, which helps salespeople track leads and sales info. In other words, it's consolidating its top position. Its revenue is growing around 25% per year, and as CEO Marc Benioff continues to remind investors on every earnings call, it is on track to hit $10 billion in annual revenue faster than any other <keyword id="6356323" type="UNKNOWN" weightage="60" keywordseo="Enterprise">enterprise</keyword> sales company.But more quietly, Salesforce has also become a major player in the Silicon Valley enterprise ecosystem. It's the <a href="http://www.businessinsider.com/salesforce-is-top-investor-in-saas-2015-10">number-one venture investor in cloud software</a> companies - ahead of every VC firm, with stakes in a bunch of enterprise upstarts on the IPO train, including Box (which went public early this year), Dropbox, and Twilio (both expected to go next year).Salesforce has also created the beginnings of a strong ecosystem, with developers building apps that work with companies' Salesforce installations, and an entire app store for companies to download and install them.Its quiet rise is reminiscent of how Microsoft went from an enterprise laughingstock in the 1990s - hard to remember now, but IT departments once considered Windows PCs annoying nuisances or toys and never imagined Microsoft software running in their data centers - to one of the top enterprise software companies by the end of the next decade. No wonder Microsoft approached Salesforce with a <a href="http://www.businessinsider.com/buyer-of-salesforce-was-microsoft-2015-5">$50 billion buyout offer</a> earlier this year. And it could try again.Salesforce has also delivered a nice 34% gain to investors this year.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Yahoo Finance (screenshot)</div></div></div><h2>Netflix</h2>As Tim Stenovec at our sister site Tech Insider <a href="http://www.businessinsider.com/how-netflix-won-2015-2015-12">pointed out</a>, Netflix has had a banner year, with more than a dozen new shows, Emmy nominations galore, international expansion, and a brand new pop culture expression. (Nobody ever said they were going to "AOL and chill," did they?)But the real story here is that TV watching habits are finally starting to change: ratings for TV shows at their scheduled times <a href="http://www.businessinsider.com/tv-ratings-decline-2015-9">fell off a cliff this fall</a>, and the number of U.S. homes with cable TV subscriptions <a href="http://www.businessinsider.com/cable-tv-subscribers-plunging-2015-8">started dropping</a> for the first time ever this year.Cord-cutting is real, and Netflix has pole position as the top creator of online-delivered TV-like entertainment. Amazon may be nipping at its heels, and industry players like Hulu may catch up, but Netflix pioneered the way.Plus, it's had the best performance this year of any major tech stock - up more than 144%:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Yahoo Finance (screenshot)</div></div></div><h2>What about...?</h2>There are a lot of big, older companies that did OK this year but did not set the world on fire. Briefly:<ul><li>Apple remains the biggest company in the world, but faces the possibility of a first-ever decline in iPhone sales, and its high profile product launches last year - the Apple Watch, Apple Music, and Apple TV - were so-so to poor. Apple will continue to be a massive cash generating machine, but 2015 was a building year, or as Nilay Patel at <a href="http://www.theverge.com/2015/12/28/10676272/2015-apples-year-in-beta">The Verge aptly wrote</a>, this was a beta year. Not a power consolidation year.</li><li>Google Alphabet. When the most important events of your year are a name change, business restructuring, and a big government antitrust investigation, it's hard to call that a winning year. Google's core ad business remains strong, its revenues and profits are still growing nicely, and and it clearly won the search wars once and for all. But Android is still fragmenting, Facebook is nipping at its heels in video, and none of the new Alphabet projects have taken off yet. 2015 was a reset year for this company. We'll see if it can gain ground next year.</li><li> Microsoft. Everybody loves a comeback, but even with the relative success of Windows 10, the fact remains that Microsoft's mobile platform strategy has largely failed and it's been relegated to distributing its (very lucrative) Office apps on Apple's and Google's mobile platforms. Microsoft also seems to be successfully navigating the enterprise shift to the cloud, but it's still well behind Amazon - which, 10 years ago, had no enterprise business at all. Hololens looks amazing, but it's not out yet. Satya Nadella is a breath of fresh air, but he inherited low expectations. The company's next few earnings reports will be telling.</li></ul>There are also a bunch of younger companies that still have some proving to do. Two to note:<ul><li>Snapchat is growing like crazy - unlike its social media competitors outside Facebook - but there's this weird age barrier where nobody over 30 can figure out what it's about. That's not the sign of a mainstream success, that's the sign of a fad. Snapchat could certainly change that like Facebook did, but it's too early to say.</li><li>Airbnb is often mentioned in the same breath as Uber as one of the companies helping normal people make use of excess capacity (homes instead of cars), but it's not as ubiquitous as Uber is yet. Plus, where's its mobile strategy? Everyone knows you order an Uber and visit Facebook from your phone. Airbnb is still a desktop kind of thing, mostly, with no obvious mobile component.</li></ul>Anybody you think I missed? Make your case in comments, or drop me an angry email. Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.

You Searched For "Walmart India Layoffs" and got 13 results

Walmart lays off hundreds of employees to 'prepare for the future'

IANS

The curious case of Walmart India layoffs and whistleblower allegations reaches US headquarters

Prerna Sindwani

After firing hundreds of employees, Tiktok says it hopes to relaunch in India soon

Sanchita Dash

Walmart sheds brick and mortar weight as it plans to go online with Flipkart

Prerna Sindwani

Walmart lays off 56 employees in India; denies 2nd round of downsizing in Apr

PTI

There are plenty of open jobs for tech workers they're just not at tech companies

Samantha Delouya

Sam Altman's return to OpenAI doesn't necessarily mean a return to normalcy

Dan DeFrancesco

Business highlights

PTI

10 things in tech you need to know today

Callum Burroughs

SoftBank's Vision Fund 2 just made its first bet on a buzzy US pharmacy startup. The CEO of Alto told us how he plans to use the fresh $250 million.

Lydia Ramsey

There's only one tech CEO on Trump's economic advisory team - and she's not from Silicon Valley

Julie Bort

10 things you need to know before the opening bell

Jonathan Garber

These were the five most dominant tech companies of 2015

Matt Rosoff

Popular Keywords

Buying Guides