News in Numbers | Tech Mahindra may fire 1,500 employees, says report
In other news, the Central government owes Rs451.75 crore to Air India on 31 March
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What is it? The amount Paytm might pay to acquire rival Freecharge from Snapdeal, according to reports.
Why is it important? E-commerce firm Snapdeal had acquired Freecharge for $400 million in 2015. Freecharge is an e-wallets business, widely considered to be vulnerable to other payment options such as UPI, where it faces intense competition from rivals. Besides, even at the time of acquisition, there were concerns that Snapdeal might have overvalued Freecharge.
Tell me more: Paytm is in talks with Softbank to raise $1.9 billion at a valuation of $8 billion to $9 billion. Softbank owns 33% in Snapdeal. In its latest earnings report, Softbank said it has written down the value of its investments in Snapdeal and Ola by $1.4 billion.
What is it? The number of employees Tech Mahindra, the country’s fifth largest IT company, might fire.
Why is it important? Three of its four bigger rivals are already said to cut headcount, suggesting that this could be a season of layoffs in the sector. News about layoffs at Cognizant, Infosys and Wipro have hit the headlines in the last few days. TCS, India’s largest IT firm, is in the process of conducting performance appraisals—and hasn’t given any indication that it would follow suit.
Tell me more: As the news of layoffs spread, it’s gaining a political colour as an industry body sought government intervention in Tamil Nadu, one of the key hubs of IT majors. Telangana labour department is to meet Cognizant officials on Thursday over layoffs.
What is it? The number of machines that are running Windows 10 operating system.
Why is it important? While the number is impressive, it’s lower than what Microsoft expected to achieve. The behemoth which controls about 85% of market share in desktop operating system was aiming to reach 1 billion active installations by 2018. Even by last year, it was clear it would fall short.
Tell me more: According to one estimate, Windows, across various versions, has 84.14% market share, followed by Mac OX (11.6%) and Linux (1.53%).
What is it? The percentage growth in the number of passengers United Airlines flew in April 2017 compared to April last year.
Why is it important? A widely reported PR disaster—which followed after a passenger was violently deplaned—seems to have had no impact on its business. Its share price, which took a beating in the following days, is higher than what it was the day before the incident.
What is it? The amount the Central government owes to Air India, as on 31 March.
Why is it important? The amount mostly relates to use of its chartered planes by the prime minister, president and vice-president for their official visits. The biggest chunk of unpaid dues is Rs206.19 crore towards 22 visits made by the vice-president in the years 2008 to 2017.
Tell me more: Recently, Air India came under fire after Comptroller and Auditor General revealed that the carrier understated its operating losses by nearly $1 billion over financial years 2012-13 to 2014-15.
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