From Byju's declining revenues to the review of Suzuki V-Strom SX, here are our top reads of the week
1) Moonlighting: India Inc's problem with hustlers
Wipro Chairman Rishad Premji, speaking at the AIMA (All India Management Association) National Management Convention, said that the company had fired 300 employees over the past few months, who were found working directly with Wipro's competitors. On September 15, IBM India MD Sandip Patel called moonlighting unethical. On September 13, media reports stated that Infosys had sent an email to its employees, complete with lines like ‘no two-timing’ and ‘no double lives’, warning them of strict disciplinary action, including termination, if they are found to be moonlighting. In the era of the talent war among Indian IT companies, these moves have started a discussion. We bring you some voices. Read More
2) At the end of the rainbow
Unicorns and rainbows are two inseparable concepts. Or at least pop culture has you believe so. The startup ecosystem has a different, rather gritty tale and, this time, Byju's is telling it. The edtech unicorn quickly became the poster child of a successful Indian startup when the pandemic pushed for online learning. The facade was beautiful. On September 14, Byju’s revealed the company’s FY21 (2020-21) financials. The numbers let everyone know that the world’s most-valued edtech company has now become the world’s most expensive edtech company for investors after a decline in its FY21 revenue. Under public scrutiny for losses, layoffs and a toxic work culture, where does Byju Raveendran's company go next? Read More
3) Brace for impact