Xiaomi hit by slowdown in smartphone market, revenues down 10 percent

Chinese smartphone company Xiaomi’s quarterly revenue fell by around 10 percent. The slowdown in the global smartphone market and declining demand in China have affected the company’s sales. Sales of its mobile devices fell by around 11 percent. The company’s sales during July-September were 70.5 billion yuan (about Rs. 80,900 crore). Xiaomi’s sales are slightly … Read more

Ministry of Labor issues notice to Amazon regarding retrenchment of workers in India

The Labor Ministry has sought a response from e-commerce giant Amazon on layoffs in India. Amazon plans to cut workforce at global label For this the company has offered Voluntary Separation Program (VSP) to a large number of workers in India. The Labor Ministry has issued a notice to Amazon’s unit in India following a … Read more