Monday, June 24

Tag: slowdown

Indian Startup Funding Sees Major Slowdown in Jan-Mar
ANALYSIS

Indian Startup Funding Sees Major Slowdown in Jan-Mar

The startup sector is not completely out of the woods as it saw a drop in investment of 36 per cent year on year at USD 236.81 million for the March quarter as investors are wary of early and mid-stage funding. According to a News Corp VCCEdge report, the startup sector saw 165 deals worth USD 236.81 million in the January- March quarter of 2017 while in the same period last year, it stood at USD 368.68 million by way of 314 deals. The report noted that early-stage funding went down as investors preferred to pump in money late. Angel and seed investments slumped both in volume and value terms, with deal volumes down to half with 120 deals in January-March compared to 245 in the same period of 2016. "A rise in Series-B funding even as seed and Series-A funding trends show a decl...
China’s ZTE to Slash About 3,000 Jobs: Sources
CHINA

China’s ZTE to Slash About 3,000 Jobs: Sources

Chinese telecom equipment maker ZTE, which is facing US trade sanctions that could severely disrupt its supply chain, is slashing about 3,000 jobs, including a fifth of positions in its struggling handset business in China, company sources said. The sources said the Shenzhen-based company, one of the world's biggest telecoms gear makers, is axing about 5 percent of its 60,000 global workforce. Its global handset operations will shed 600 jobs, or 10 percent of the total, with the cuts concentrated in China, where it has been losing market share. "Cuts in the handset business in China will be beyond 20 percent," said a senior executive who has been briefed on the lay-offs, which are scheduled to be completed within the first quarter. A local manager in one of the company's overse...