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Wayfair is set to cut 1,650 jobs, representing 13 per cent of its workforce, following a recent memo from CEO Niraj Shah that stirred controversy. The memo, leaked to the media, urged employees to work longer hours and drew criticism from both workers and the public. Wayfair, known for its home goods and furniture offerings, has faced several rounds of layoffs in recent years as the furniture market cooled off post-pandemic. The Boston-based company, which had approximately 14,000 employees as of early 2023, cited the need to align with its core principles and address past overhiring as reasons for the latest job cuts. In the leaked memo, Shah acknowledged the company's recent successes, including a 3.7 per cent increase in sales to $2.9 billion for the quarter ending Sept. 30, 2023. However, he emphasized the need for employees to be «more aggressive, pragmatic, frugal, agile, customer-oriented, and smart» to maintain and further the company's success.

the World Economic Forum in the snow-clad resort came to an end on Friday, emergence of artificial intelligence, never-ending geopolitical tensions, and the outcome of what's in store when half of the world's population is going to elect a new government this year, including in India and the US, dominated the Swiss Promenade talks. But for the outcome of the summit as Rich Lesser, chairman of Boston Consulting Group, said, “It’s unrealistic to think that Davos — or any meeting, anywhere in the world — in one meeting can rebuild trust when it’s fragmented on so many dimensions".

S Jaishankar met with his Maldivian counterpart Moosa Zameer on the sidelines of NAM Summit and held a “frank conversation” on India-Maldives ties. Withdrawal of Indian military personnel from Maldives and India’s solution to address situation was among the key talking points.

Elon Musk has said a report that his artificial intelligence (AI) company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal is inaccurate. «This is simply not accurate,» he said in a reply to a user post about the Bloomberg article on social media platform X.

China's Henan province, the official Xinhua news agency reported Saturday. The blaze at the Yingcai School in Henan's Yanshanpu village was reported to the local fire department at 11 p.m. (1500 GMT) Friday night, Xinhua said.

Nikki Haley hit back at former US president Donald Trump over his remarks questioning the former UN Ambassador's eligibility to run as president. «I know Trump well. He gets into name calling when he feels threatened and insecure. I'm not going to waste any energy on that,» Haley posted on X (formerly Twitter).

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Germany has approved Citizenship Law Reforms that are aimed at integration and skilled worker attraction. In a decisive move, German lawmakers voted 382-234 on Friday to approve legislation that relaxes the rules on obtaining citizenship and eliminates restrictions on dual citizenship. The proposal, advocated by center-left Chancellor Olaf Scholz's socially liberal coalition, aims to enhance immigrant integration and facilitate the recruitment of skilled workers. Are you immigration ready? Find out Under the new legislation, individuals can qualify for citizenship after residing in Germany for five years, or three years in the case of «special integration accomplishments,» compared to the current requirements of eight or six years. German-born children will automatically acquire citizenship if one parent has been a legal resident for five years, a reduction from the previous eight years. Moreover, the legislation eliminates restrictions on holding dual citizenship, a significant departure from the existing requirement for most individuals from non-European Union countries to renounce their previous nationality upon gaining German citizenship. The government emphasizes that approximately 14% of the population, more than 12 million out of 84.4 million inhabitants, does not possess German citizenship. Of this population, around 5.3 million have lived in Germany for at least a decade. Germany's naturalization rate is reported to be below the European Union average.

Canadian cities need to relax their zoning policies if they want to tap into billions in federal funds available for new home construction. That was one of the messages delivered by Sean Fraser, the federal minister of housing, to a lunchtime audience at the Empire Club of Canada in Toronto on Jan. 17. Here are three key take-aways from the event.

Gautam Adani summed up as he left Davos after participating in the annual World Economic Forum 2024. In a long LinkedIn post penning his experience during his stay in Davos and the interactions he had with global executives and thought leaders, Gautam Adani concluded that India's message and the actions it has taken resonate with the spirit of multilateralism and inclusiveness. The World Economic Forum's Annual Meeting took place in Davos from January 15-19, 2024. Union Ministers Hardeep Puri, Smriti Irani, and Ashwini Vaishnaw represented India in the Forum. At the 54th World Economic Forum Annual Meeting, global leaders met to rebuild trust, generate new ideas, and create partnerships to advance solutions to the challenges the world faces. «This was the Davos where my fellow countrymen in attendance would have left with their heads a little higher than usual.

wrote on LinkedIn. He added that the situation today underscores the critical need for enhanced multilateralism and international cooperation, which can be done only through the consensus emerging from global political leadership.

(Reuters) — Vans sneaker maker VF Corp (NYSE:VFC) said on Thursday the cyber incident that hit the company in December led to a breach of personal data of about 35.5 million consumers, and added that it does not expect a material impact to its financials.

(Reuters) -An Atlas Air (NASDAQ:AAWW) Boeing (NYSE:BA) cargo plane was forced to make an emergency landing at Miami International Airport after experiencing an engine malfunction shortly after departure.

boat accident in Harni lake on the outskirts of Vadodara city in Gujarat, three persons, including a manager of a contractor, have been arrested, said a police official on Friday. Following the tragedy on Thursday afternoon, the Harni police had registered an FIR under sections 304 (culpable homicide not amounting to murder) and 308 (attempt to commit culpable homicide) of the Indian Penal Code against 18 persons, including the partners of Kotia Projects, which was given the contract to run Harni Lake Zone by the civic body. «We have already arrested the manager of the Harni Lake Zone, Shantilal Solanki, and two boat operators — Nayan Gohil and Ankit.

Budget 2024: What is Vote on Account? Significance and more… Nirmal Bang expects fiscal consolidation in FY25 with a deficit likely at about 5.5 per cent of GDP, largely driven by moderation in government capex growth at 15 per cent. The brokerage firm highlighted the following six major themes that could dominate the Interim Budget 2024. Take a look: Nirmal Bang expects the fiscal deficit to come in at 5.5 per cent of GDP in FY25, led by moderation in capex growth to 15 per cent from an estimated 36 per cent in FY24.

Spanish court has ruled a former Facebook moderator's mental health was damaged by his work reviewing graphic content such as beheadings, in a case that could have implications for how social media firms work with moderators. The Barcelona court, upholding a decision by Spain's social security agency, said the psychiatric treatment the subcontracted moderator required was due to work-related issues, meaning he is entitled to extra compensation for sick leave.

Russia’s Central Bank has warned citizens about a crypto “scam” project based on the hit drama series The Boy’s Word: Blood on the Asphalt.

Quiver Quantitative — Reddit, the popular social media platform, is advancing its plans for an IPO in March, making it the first major social media company to go public since Pinterest (NYSE:PINS) in 2019. This move comes as Reddit, along with its peers, faces intense competition in the advertising domain from platforms like TikTok and Facebook (META). Reddit's IPO could also be a litmus test for its user community, which has been central to various «meme» stock rallies, including those of GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC).

Republican lawmakers in Kansas have passed a broad package of tax cuts promoted as widespread relief

Ice cream maker Ben & Jerry’s has reached its first contract agreement with workers at a retail shop in the Vermont city where the company was founded after the employees petitioned to unionize last year

WWE 2K has shared a social media post revealing the logo for WWE 2K24, accompanied by a date: 1.22.2024. While no additional details were provided, the specified date has already marked a significant event on fans' calendars for the anticipated unveiling on January 22.