India, South Korea MoU on trade remedy approved
New Delhi, Aug 9 : The Union Cabinet on Thursday gave its ex-post facto approval to the Memorandum of Understanding (MoU) between India and South Korea on trade remedy cooperation.
Signed in July during the visit of the South Korean President to India, the MoU will promote cooperation between the two countries in areas like anti-dumping, subsidy and countervailing and safeguard measures.
The Cabinet meeting was chaired by Prime Minister Narendra Modi.
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Microsoft to pause hiring in U.S. consulting division amid cost-cutting measures
Washington: Microsoft is set to pause hiring in its U.S. consulting business as part of broader cost-reduction efforts, according to an internal memo reported by CNBC. The move aligns with the company's strategy to manage expenses while prioritizing investments in artificial intelligence (AI).
The tech giant plans to allocate approximately $80 billion in fiscal 2025 to expand data centers aimed at training AI models and deploying AI-driven and cloud-based applications. As part of the cost-cutting measures, the consulting division will temporarily suspend hiring new staff and back-filling roles, consulting executive Derek Danois reportedly informed employees.
The memo also urged employees to avoid travel expenses for internal meetings, favoring remote sessions instead. Additionally, the division plans to slash marketing and non-billable external resource expenditures by 35%, aligning with policies set by the Microsoft Customer and Partner Solutions organization, which employs around 60,000 people.
Microsoft has not responded to requests for comment on the matter.
