Multi-cloud technology services provider Rackspace Technology this week unveiled restructuring that will result in the laying off of about 10 percent of the companys US workforce. Rackspace said it is investing between US$65 million and US$70 million to re-align resources towards fast-growing product and services offerings, including towards cloud services focused on such initiatives as…
The Delhi High Court has granted interim protection to a homebuyer of Shubhkamna City residential project in Greater Noida West against a loan recovery proceedings initiated by a bank. While staying the proceedings pending before the Debt Recovery Tribunal (DRT) in Delhi, initiated by Bank of Maharashtra, a Bench of Justice Vipin Sanghi and Justice…
Rupert Murdochs News Corp Australia has swung an axe in its commercial division after tapping consultancy McKinsey & Company to assist with another restructure. News Corp sources familiar with the restructuring plans, who spoke on the condition of anonymity, estimated between 30 to 50 commercial roles were cut in recent weeks as the changes were…
Kilburn-based Railroad Transport has been placed in voluntary liquidation with more than 100 staff around Australia made redundant. Liquidator Tarquin Koch said the amount owed to them would be north of $2.1 million, but employee entitlements are covered under the federal Fair Entitlements Guarantee Scheme. Although the company made slight losses on annual revenues of…