Business
Top 10 Richest Indian Professional Managers In 2025
Jayshree Ullal, CEO of Arista Networks, tops the list of richest Indian managers with a net worth of Rs 50,170 crore. (File Photo)

Satya Nadella, Chairman and CEO of Microsoft, ranks second among Indian professional managers with a personal wealth of Rs 9,770 crore. (File Photo)

Nikesh Arora, the CEO of Palo Alto Networks, takes third place with a net worth of Rs 9,190 crore. (File Photo)

Ignatius Navil Noronha, CEO of DMart, is the richest India-based manager on the list, with a fortune of Rs 6,570 crore from the retail giant. (File Photo)

Ajay Banga, President of the World Bank and former Mastercard CEO, holds the fifth spot with a total wealth estimated at Rs 5,970 crore. (File Photo)

Thomas Kurian, who leads Google Cloud, ranks sixth on the list with Rs 5,900 crore. (File Photo)

Google CEO Sundar Pichai is seventh with a net worth of Rs 5,810 crore. (File Photo)

Former PepsiCo CEO Indra Nooyi comes in eighth with Rs 5,130 crore. (File Photo)

Adobe CEO Shantanu Narayen is ninth with Rs 4,670 crore net worth. (File Photo)

Ajit Jain, Vice Chairman at Berkshire Hathaway, maintains his position in the list with a net worth of Rs 2,950 crore. (File Photo)
Business
Global stock markets are too high and set to fall, says Bank of England deputy
It is unusual for a senior figure at the Bank to be so forthright on market movements.
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Business
Nike cuts 1,400 roles in second round of layoffs this year
People walk past a Nike store in New York City, on April 2, 2025.
Kylie Cooper | Reuters
Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the organization, mostly concentrated in its technology department.
In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its Air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.
“Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” Alagirisamy wrote. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”
A Nike spokesperson said the layoffs are about better positioning the organization for the current pace of sports and accelerating its growth. The layoffs affect employees across North America, Asia and Europe and represent less than 2% of the company’s total global head count.
“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”
Affected employees will be notified beginning Thursday, Nike added.
CEO Elliott Hill has been working to turn Nike around after years of slumping sales. While Hill has made some initial progress, it’s come with some bumps in the road.
Nike announced 775 job cuts in January, primarily at its U.S.-based distribution centers, due to the company’s work in accelerating its use of automation. At the time, the company said the cuts are part of Nike’s goal to return to “long-term, profitable growth.”
Those layoffs came on top of a round of cuts last summer that affected less than 1% of Nike’s corporate staff as part of the company’s efforts to realign the business.
In its third fiscal quarter earnings report last month, the retailer warned that sales will continue to fall for the rest of the year, primarily led by an anticipated 20% decline in China during the current quarter.
— CNBC’s Jessica Golden contributed to this report.
Business
Meta says it will cut 8,000 jobs as AI spending grows
A key reason for the layoffs is Meta’s increased spending in other areas of the company, including AI, for which it will this year spend $135bn (£100bn). This is roughly equal to the amount it has spent on AI in the previous three years combined, according to a person who viewed the memo.
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