Cognizant hints at more job cuts, Ratan Tata boards Ola's EV arm, and more news

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Cognizant is looking to shed jobs after two quarters of lacklustre growth. Sources told Business Standard the layoffs could be higher and broader than those in 2017 and 2018, with “non-billable mid-level executives” such as managers and consultants likely to be the worst-hit. Most of these job cuts may happen in India, home to 70% of the company’s nearly 2.82-lakh-strong workforce. The IT firm confirmed it was evaluating “employee separation programmes,” but it didn’t elaborate. Last week, Cognizant halved its revenue guidance for FY20 after first quarter profit tanked 32%.

Tata Sons’ chairman emeritus Ratan Tata has put in an undisclosed sum in Ola Electric Mobility. The investment – part of the company’s ongoing Series A round – comes on the heels of a ?400 crore infusion by Tiger Global and Matrix India, the cab aggregator’s early backers. Ola Electric has been running several pilots, ranging from charging solutions to battery-swapping stations to development of viable EV infrastructure. Tata, who has backed ventures such as Paytm, Zivame, CarDekho and Urban Ladder, is also an early investor in Ola’s parent ANI Technologies.

Boeing failed to reveal an issue with the 737 MAX’s alert system for 13 months, reports The Wall Street Journal. In a new statement, the plane manufacturer admits it knew there was a problem with the cockpit safety alert but maintains the software issue “did not adversely impact airplane safety or operation.” Industry experts say Boeing only disclosed some information after the fatal October Lion Air crash, and then waited six weeks following a second deadly incident before disclosing the issue to the public and the FAA.

The Supreme Court has stayed a ?500 crore fine imposed on Volkswagen by the National Green Tribunal, saying “no coercive action” be taken against the automaker. The tribunal had slapped the penalty on the local unit of Volkswagen for allegedly damaging the environment by using “cheat devices” in its diesel cars. Volkswagen argued that its cars were compliant with Indian emission norms and didn't use cheat devices, even though it recalled 3.24 lakh vehicles in 2015 for technical updates.   

Even as India’s general elections enter the last lap, a spike in fake news is keeping fact-checkers on their toes. Citing fact-checking site Alt News, Quartz says there has been a nearly 40% rise in the volume of misinformation on social media. How are the propagators escaping detection? By deploying new techniques such as circulating lengthy text messages that make debunking tough and using old pieces of misinformation. WhatsApp is trying to curb fake content through moves such as limiting forwards and setting up a tip line, but experts say concrete results are unlikely unless it changes its stance on encryption and privacy.

Small, informal WhatsApp groups are emerging as an alternative to Swiggy and Zomato in Bengaluru. In several areas of the city, Scroll reports, office-goers seem to be taking to neighbourhood networks that deliver home-cooked food at nominal prices. But there are niggles in the model, too, such as wafer-thin profits and payment tracking. To be sure, more formal businesses – apps like FoodyBuddy and Masala Box, which connect buyers and home chefs – have been around for a while. Earlier, a RedSeer report said Bengaluru was India’s top city in terms of online food orders, accounting for nearly a third of overall volumes.

Idea of the Day: Learning how to read a room is an important skill to master, says Anne Finucane, vice-chairman at Bank of America.

“[You] have to pay close attention to those around you. It sounds simple, but studying and connecting with others is an underrated skill.”

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Monday's Rundown saw several comments on Cyclone Fani and anti-retroviral medications that limit the spread of AIDS. Top Commenter Abishek Muthian said governments should integrate these findings in their HIV campaigns to curb the stigma associated with the disease. Join the conversation here.