Top headlines: Meta prepares for mass-layoff, Musk calls back fired workers

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After firing half of Twitter's workers, Musk now asks some to return

Twitter Inc., after laying off roughly half the company on Friday following Elon Musk’s $44 billion acquisition, is now reaching out to dozens of employees who lost their jobs and asking them to return.

Some of those who are being asked to return were laid off by mistake, according to two people familiar with the moves. Others were let go before management realized that their work and experience may be necessary to build the new features Musk envisions, the people said, asking not to be identified discussing private information. Read more

Facebook parent Meta is preparing large-scale layoffs this week: Report

Meta Platforms Inc is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday.

Meta declined to comment on the WSJ report. Facebook parent Meta in October forecasted a weak holiday quarter and significantly more costs next year wiping about $67 billion off Meta's stock market value, adding to the more than half a trillion dollars in value already lost this year. Read more

Maruti production cost has remained constant for years: R C Bhargava

Maruti Suzuki has been able to keep the cost of production of like-to-like vehicles pegged at nearly the same levels for years due its aggressive cost reductions.

“A study conducted by the company has shown that in like-to-like vehicles (taking out any additional costs due to value addition or new regulations on, say, emissions), our cost of production has remained constant for years,” said Maruti Suzuki chairman R C Bhargava. Read more

Edtech pioneer Ronnie Screwvala to build world's largest tech school

Edtech pioneer Ronnie Screwvala is planning to build the world’s largest tech school with offline and online campuses around the globe.

The move comes at a time when many unicorns recently fired employees in an attempt to conserve cash and focus on profitability amid steep losses and a funding winter. Read more

China's daily Covid cases jump to six-month high as outbreaks flare

China’s daily Covid cases jumped to the highest in more than six months, as outbreaks flared across the nation and health officials declared the nation will stick with its strict virus controls.

The country reported 5,436 cases for Sunday, up 27% from the day before to the most since May 2, when Shanghai was in the midst of its months-long lockdown. Read more