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In view of the novel <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> outbreak worldwide and detection of a few positive cases in neighbouring states, the <keyword id="6354780" type="COMPANY" weightage="20" keywordseo="Karnataka">Karnataka</keyword> government has ordered holidays for children in lower and upper kindergarten classes in Bengaluru. The decision was taken on the advice of Karnataka Health Commissioner <keyword id="466862" type="PERSON" weightage="20" keywordseo="Pankaj-Kumar-Pandey">Pankaj Kumar Pandey</keyword>. The minister for primary and secondary school education S Suresh Kumar tweeted late Sunday night, "Further to the advice received from the health commissioner, holidays have been declared for KJG/UKG classes in <keyword id="2653254" type="LOCATION" weightage="20" keywordseo="Bengaluru-North">Bengaluru North</keyword>, South &amp; Rural Districts." In his letter to the principal secretary in the health and family welfare department S R Umashankar, Pandey asked him to close pre-KG, LKG and UKG classes in the city with immediate effect, till further orders to prevent the spread of COVID-19 virus.

Coronavirus: Karnataka government calls for early school holidays, after neighbouring states discovers new cases

In March 2010, two unidentified people opened fire at CISF personnel just outside the high-security Isro campus in Byalalu, near <keyword id="6354321" type="CITY" weightage="80" keywordseo="Bengaluru">Bengaluru</keyword>. Their suspicious movements had attracted the attention of CISF personnel guarding the facility. 
 On being questioned, they had opened fire at the guards, forcing them to fire in retaliation. The two men eventually escaped.Bengaluru police nabbed <keyword id="2790945" type="UNKNOWN" weightage="80" keywordseo="Pankaj-Kumar-Roy">Pankaj Kumar Roy</keyword>, alleged to be a <keyword id="2790966" type="UNKNOWN" weightage="80" keywordseo="high-profile-arms-dealer">high-profile arms dealer</keyword> who had even struck deals with <keyword id="38962" type="ORGANIZATION" weightage="80" keywordseo="LTTE">LTTE</keyword> agents, and confiscated weapons and ammunition. 
 According to <keyword id="105279" type="CITY" weightage="80" keywordseo="the-Times">The Times</keyword> of India, more recently, in September 2014, <keyword id="6430978" type="ORGANIZATION" weightage="80" keywordseo="Bengaluru-police">Bengaluru police</keyword> nabbed Pankaj Kumar Roy, alleged to be a high-profile arms dealer who had even struck deals with LTTE agents, and confiscated weapons and ammunition. 
 
Bengaluru, and even other parts of Karnataka, are slowly turning into places where people are armed with illegal guns and revolvers. Police and other agencies crack some cases, while others remain undetected. "There is a problem and it's growing. With the general level of tolerance in society declining, people are arming themselves, especially with illegal weapons. 
 This poses a great danger, and the department is working on such elements," a <keyword id="166593" type="POSITION" weightage="80" keywordseo="senior-police-officer">senior police officer</keyword> said. According to information from the ministry of home affairs (MHA), nearly 300 people have been arrested in Karnataka over the past four years in connection with illegal arms cases, and 337 weapons have been seized. Documents show that in 2011, a total of 141 arms were seized by various agencies in Karnataka and this remains the highest till January 2015. In the first month of this year alone, six weapons were seized and nine persons arrested, said TOI. 
 
"In 2012, we saw a lot of cases where people used weapons for bank or jewellery shop robberies. This was despite several seizures. But the number of seizures reduced and even the activity of such people has declined," the officer said. 
 Across India, the TOI report said, a total of 45,366 weapons have been seized from January 2011 to January 2015, and most of them, not surprisingly, from Jammu &amp; Kashmir, <keyword id="30033" type="COMPANY" weightage="80" keywordseo="Bihar">Bihar</keyword>, UP and other known states. In South India, <keyword id="37102" type="COMPANY" weightage="80" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> (including Telangana) tops the chart with 921 seizures, while <keyword id="20154" type="ORGANIZATION" weightage="80" keywordseo="tamil-nadu">Tamil Nadu</keyword> and Kerala have reported 290 and 139 seizures, respectively.

South India's growing gun culture causing panic

<ul><li>LTCG of up to Rs 1,20,000 in a single financial year is tax-free. </li><li>Effective July 23rd, 2024, <keyword id="21006654" type="General" weightage="100" keywordseo="indexation-benefits" source="keywords">indexation benefits</keyword> will no longer be available for real estate, gold</li><li>Effective July 23rd, LTCG will be charges at 12.5%, sans indexation benefit</li></ul> After FM <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> proposed to remove indexation benefits on <keyword id="20584761" type="General" weightage="20" keywordseo="long-term-capital-gains" source="keywords">long-term capital gains</keyword> (LTCG) on real estate, gold, and other unlisted assets, discussions were abuzz on the internet as to how this would lead to significantly higher <keyword id="20118944" type="General" weightage="20" keywordseo="taxation" source="keywords">taxation</keyword> on gains from <keyword id="20008581" type="General" weightage="20" keywordseo="property-sales" source="keywords">property sales</keyword>. Previously, LTCG on long-term capital gains was marked at 20%, but it came with indexation benefits, which eventually lowered the individual's overall <keyword id="19974193" type="General" weightage="20" keywordseo="tax-liability" source="keywords">tax liability</keyword>. Now, it has been lowered to 12.5%, but minus any indexation benefit. So, with indexation gone, how will gains from property sales be taxed going ahead? Is this applicable to all properties? What is set to change? Does it help that the <keyword id="22480102" type="General" weightage="20" keywordseo="LTCG-tax" source="keywords">LTCG tax</keyword> has been brought down from 20% to 12.5%? Lets take a deep-dive First, explain this long term short-term conundrum to me So, how much capital gains tax you're supposed to pay depends on how long you hold a particular asset before selling it. Prior to yesterday's announcement, there were 3 holding periods which determined whether an asset was held for long-term or short-term: The situation before- <ul><li>Shares, units of mutual funds would qualify for LTCG tax, if they are held for more than 12 months. If the holding period is less than 1 year, you'd have to pay short-term capital gains (STCG).</li><li>Real estate and immovable property would qualify for LTCG tax, if held for more than 24 months (2 years), along with indexation benefit. </li><li>Bonds, debentures and gold were to be considered long-term capital assets, if they were held for more than 36 months (3 years), with indexation benefit. </li></ul>But going ahead, there will only be two waiting periods which will determine whether an asset would be classified as long-term or short-term The situation now- <ul><li>For all listed securities (stocks, mutual fund units), the holding period for LTCG tax purposes would be more than 1 year (sans indexation benefits) All other assets (real estate, gold, bond, debentures) will qualify for LTCG tax, if they are held for more than 24 months (minus indexation benefits). </li></ul>What was the taxation situation earlier on long-term capital gains? What has changed? So, lets say Tara purchased a property in FY 2004-05 for Rs 20,00,000. In FY 2024-25, she decided to sell it for Rs 60,00,000. You'd think she'll have to pay a flat 20% on Rs 40,00,000, which was her total profit earned from selling her property (Rs 60,00,000-20,00,000). But this is where indexation swooped in and helped cushion the overall tax liability. Prior to July 23rd, 2024, the government considered something known as "indexed cost of acquisition" for determining an individuals' total LTCG tax liability, which was calculated using the following formula: [Cost Inflation Index (CII)value for transfer/sale year/CII for purchase year, or 2001-02 (whichever is later) X cost of acquisition]. Thankfully, you don't have to go about calculating this CII value, since the government does this for you, and notifies the same officially. What CII essentially does is that it compares the current prices of basket A(which contains a bunch of products and services) to the price of the same basket A in the year of comparison, to reflect the change in prices caused by inflation. So, for Tara, her indexed cost of acquisition would come down to Rs 64,24,778 [363(CII for 2024-25) /113(CII for 2004-05)X 20,00,000]. This would mean she incurred a capital loss of Rs 4,24,778, since her indexed cost of acquisition is more than her sales receipts. So, she does not need to pay any LTCG tax. She can set off this loss, but only against her other long term gains with a limit of Rs 2 lakh in one financial year, and can carry forward the same for a maximum of 8 years. However, this changed when the budget memorandum noted yesterday, "indexation available under the second proviso to section 48 is proposed to be removed for calculation of any long-term capital gains which is presently available for property, gold, and other unlisted assets. This will ease the computation of capital gains for the taxpayer and the tax administration". This means that indexation benefits on LTCG will be applicable starting July 23rd, 2024. To understand its impact, assume that this rule is in effect from April 1, 2024. In that case, Tara's LTCG will be a flat 12.5% of her total gains of Rs 38,75,000 (remember, Rs 1,25,000 per year on LTCG are tax-exempt). This would bring Tara's taxability to Rs 4,84,375 Long story, short, minus the indexation benefit, Tara will have to pay Rs 4,84,375 as long-term capital gains tax. However, there has been a slight increase in the basic tax exemption limit for LTCG. Previously, LTCG of up to Rs 1,00,000 in a single financial year was tax-free. But now, this threshold has been raised to Rs 1,25,000. Small wins! <div type="Article" hostid="261" msid="111956035" title="Decoding capital gains taxes: What FM Nirmala took from your pocket, what she gave you in Budget 2024" mstype="2" mssubtype="0"></div> Okay, is there something that continues to be the same for long-term capital gains? Yes, roll-over benefits continue without change. This means you can re-invest the proceeds from sale of your old property into buying a new, residential one, in order to avoid capital gains tax. But that too, is not without its share of catches: You can reinvest these funds in either 54EC bonds, which have a maximum annual investment limit of Rs 50,00,000. Or, you can avail this exemption for a maximum of 2 residential houses, provided your capital gains are limited to Rs 2 crore. Also, if you've it purchased a property, or held from before 2001, you can continue to avail indexation benefits, thanks to something called a grandfathering clause. Does indexation or lower tax rates work better? There's no general rule here. But a cursory look indicates that high capital gains would be favorably taxed under these reduced tax rates, while lower returns and holding periods would find indexation to be a better option. Says Pankaj Kumar, VP – Fundamental Research, Kotak Securities, "the Union Budget-FY25 has rationalized long-term capital gains tax on real estate transaction. It proposed to remove indexation benefits and reduce the long term capital gains tax rate from 20% to 12.5% with immediate effect (grandfathering for properties held before 2001). We find that the new capital gains tax structure for real estate favours investors, who have generated high IRRs, while investors with poor IRRs would be worse off in the new regime". "On the other hand, it is expected to have limited impact on end users who purchase homes for personal consumption. The budget has also talked about encouraging states to lower the stamp duty and consider lower duties for women buyers. Lowering of stamp duties would reduce the overall acquisition cost in high stamp duty states/markets like Gurgaon, Chennai, Mumbai and Kolkata", continued Kumar.

Budget 2024: How will long-term capital tax change your real-estate investments post-budget?

<ul><li>The <keyword id="2831405" type="General" weightage="20" keywordseo="riskometer" source="Orion">riskometer</keyword> is calculated based on a number of factors, including the type of assets of the <keyword id="6354820" type="General" weightage="20" keywordseo="mutual-fund" source="Orion">mutual fund</keyword>, the fund's volatility, and the credit quality. </li><li>Equity funds, which invest in stocks, are generally considered to be more risky than debt funds, which invest in fixed income instruments. </li><li>When choosing a mutual fund, it is important to consider your own <keyword id="2067937" type="General" weightage="20" keywordseo="risk-tolerance" source="Orion">risk tolerance</keyword> and investment goals. </li></ul>Mutual funds carry varying levels of risk. These risks can be influenced by factors such as the types of investments held within the fund, prevailing market conditions, and the chosen strategy of the fund manager. It is crucial for investors to evaluate their risk tolerance and align it with the fund's risk level before investing. This helps ensure that the chosen mutual fund aligns with their financial goals and comfort level with potential fluctuations in returns. <cmsannotation type="cmsannotation" annotationid="Market regulator’s initiative" comment="Subhead" text="Market regulator’s initiative">Market regulator’s initiative</cmsannotation> The mutual fund riskometer is a representation of the risk associated with a mutual fund scheme. It was introduced by the Securities and Exchange Board of India (<keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword>) in 2013 to help investors make informed investment decisions. In 2021, SEBI made some changes to the riskometer to improve its accuracy and transparency. The riskometer is based on a six-level scale, from low to very high, with each level represented by a different colour. <cmsannotation type="cmsannotation" annotationid="What the riskometer signifies" comment="Subhead" text="What the riskometer signifies">What the riskometer signifies</cmsannotation> The riskometer is calculated based on a number of factors, including the type of assets that the mutual fund invests in, the fund's volatility, and the fund's credit quality. “To assess the quality of a system, an average retail investor usually has little knowledge of risks because he is not familiar with them. Therefore, in order not to take unnecessary risks with his portfolio it is wise for them to examine the risk indicator,” says Mukesh Kochar, national head, Wealth, AUM Capital, a wealth management firm and mutual fund distributor. According to the riskometer, there are six levels of risk. <ul><li>Low </li><li>Moderately Low </li><li>Moderate </li><li>Moderately High </li><li>High </li><li>Very High </li></ul><cmsannotation type="cmsannotation" annotationid="How to use the riskometer" comment="Subhead" text="How to use the riskometer">How to use the riskometer</cmsannotation> When choosing a mutual fund, it is important to consider your own risk tolerance and investment goals. If you are a conservative investor, you may want to choose a fund with a low or low to moderate riskometer rating. If you are a more aggressive investor, you may want to choose a fund with a moderate to high or high riskometer rating. It is also important to remember that your risk tolerance may change over time. As you get older, you may become more conservative and want to reduce your risk exposure. Conversely, if you are young and have a long investment horizon, you may be more willing to take on risk. When investing in a mutual fund scheme, the investment horizon is very important. “Their investment horizon and the funds chosen for investments should be aligned. Short term investments should be allocated to low risk products, while long term investments may have a moderate or high risk rating,” says Kochar. Pankaj Kumar, Partner at Alpha Capital, a wealth management firm, agrees, “If your <keyword id="6133603" type="General" weightage="20" keywordseo="time-horizon" source="Orion">time horizon</keyword> is short, say one or two years, you should not go with a high amount of risk, because if a market turmoil happens you may end up losing money. But if you have a very long tenure then it makes sense to look into funds with higher risk.” says Kumar. <cmsannotation type="cmsannotation" annotationid="The riskometer is a starting point" comment="Subhead" text="The riskometer is a starting point">The riskometer is a starting point</cmsannotation> “ The riskometer is the same for almost all the equity funds. You cannot have large cap funds and small cap funds under the same category. There should be some amount of bifurcation among them,” says Kumar. The actual risk associated with a mutual fund can vary based on various factors, including the prevailing market conditions and the investment approach of the fund manager. Hence, it is essential for investors to thoroughly review the fund's prospectus before making an investment decision. “At this stage the riskometer is treating large cap or sector funds as equal at risk, which is not correct. So that's not the full proof, it's just a step in the right direction,” says Kochar. Once you have narrowed down your choices, take some time to research different mutual funds. Read the prospectus and compare the fees, performance, and risk rating of different funds. A financial advisor can help you assess your risk tolerance and choose the right mutual funds for your investment goals.

Riskometer: Your guide to choosing the right mutual fund

<ul><li>Karnataka's coronavirus toll crossed the 4,000 mark to reach 4,062 as 115 more patients succumbed to the virus, while 6,317 new infections took its tally to 2.33 lakh, an official said on Monday.</li><li>Health Commissioner Pankaj Kumar Pandey also said that 7,071 people have been discharged after treatment, taking the number of recoveries to 1.48 lakh.</li><li>Of the total cases, 80,643 are active and 695 patients are in ICU.</li></ul>Karnataka's coronavirus toll crossed the 4,000 mark to reach 4,062 as 115 more patients succumbed to the virus, while 6,317 new infections took its tally to 2.33 lakh, an official said on Monday. Health Commissioner Pankaj Kumar Pandey also said that 7,071 people have been discharged after treatment, taking the number of recoveries to 1.48 lakh. Of the total cases, 80,643 are active and 695 patients are in ICU. The state's death toll is led by Bengaluru, with 1,483 fatalities, with Mysuru a distant second at with 309. Bengaluru Urban continues to be the ground zero of the pandemic in the state, registering 2,053 more cases, raising the city's tally to 91,864, out of which 34,408 are active. Mysuru accounted for 597 infections, followed by Shivamogga (397), Ballari (319), Udupi (268), Hassan (250), Kalaburagi (211), Dharwad (201) and Belagavi (171). SEE ALSO: <a href="https://www.businessinsider.in/careers/latest-job-openings-at-google-microsoft-jp-morgan-goldman-sachs-ericsson-amazon-adobe-zomato-for-software-engineers/slidelist/77585263.cms">Google, Microsoft, JP Morgan, Goldman Sachs, Ericsson and other companies hiring software engineers in India right now</a> <a href="https://www.businessinsider.in/politics/world/news/barack-obama-has-privately-voiced-concerns-that-joe-biden-could-f-things-up-according-to-a-report/articleshow/77574349.cms">Barack Obama has privately voiced concerns that Joe Biden could 'f--- things up,' according to a report</a>

Karnataka reports 115 more deaths due to COVID-19

<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

New Delhi, Apr 17 () Sterlite Copper on Friday said it has contributed Rs 5 crore towards Tamil Nadu Chief Minister's Public Relief Fund in the battle against COVID-19.Besides, the employees of Sterlite Copper have voluntarily donated their one-day salary to support health and sanitation workers in Thoothukudi, Tamil Nadu, the company said in a statement."At a time when COVID-19 cases are steadily on the rise, various individuals and companies have responded by pooling their resources to help control the pandemic...the employees of Sterlite Copper have voluntarily donated their one-day's salary....Their combined efforts have helped raise a total amount of Rs 15 lakh," the statement said.On the ground, the company has tied up with 10 Self Help Groups (SHGs)comprising 150 members to manufacture and distribute masks and personal hygiene items across 20 villages in Thoothukudi, towards implementing proactive safeguards against the virus. Already, about 30,000 masks--out of a target of 50,000--have been distributed to 5,200 households in the district, and also to truck drivers operating in that area. In addition, 1,300 litres of liquid handwash, 13,000 bars of soap and 1,000 bottles of hand sanitizer have been provided to them as well.Sterlite Copper has also distributed 200 sets of personal protective equipments (PPEs) for the use of frontline health workers at the Tuticorin Medical College Hospital and Tirunelveli Medical College Hospital. The company is now in the process of securing an additional 200 sets of PPEs.Further, disinfectants such as sodium hypochlorite and bleaching powder along with appropriate disinfecting tools have been distributed across villages, positively impacting around 2 lakh people through pre-emptive actions."Battling the COVID-19 virus will require a coordinated effort from all sections of society, as it is something that affects all of us. Undertaking these initiatives has been our small way of helping...We are constantly looking for further opportunities to support efforts by the government and civic society," company's CEO Pankaj Kumar said. SID SID RUJRUJ

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Coronavirus: Karnataka government calls for early school holidays, after neighbouring states discovers new cases

PTI

South India's growing gun culture causing panic

BI India Bureau

Budget 2024: How will long-term capital tax change your real-estate investments post-budget?

Ira Alok Puranik

Riskometer: Your guide to choosing the right mutual fund

Anagh Pal

Karnataka reports 115 more deaths due to COVID-19

IANS

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

Anagh Pal

COVID-19: Sterlite Copper contributes Rs 5 cr towards Tamil Nadu Chief Minister's Public Relief Fund

PTI

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