Freelancers in demand 😎
More job cuts, Virus is back in NZ, and telemedicine picking up.
Hi 👋, Tanvi here.
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Let’s go ahead and get started:
Stock market summary: 😒
S&P 500 - down 0.36%
Sensex - down 0.29%
Climate change pledge 🤚
In a bid to reduce its carbon footprint and help meet the Paris Agreement, India’s Infosys has now joined the Climate Pledge, a commitment co-founded by Internet giant Amazon and environment firm Global Optimism.
Infosys has committed to become a net zero carbon contributor and to power its all operations with renewable energy by 2040. Generally, the companies that sign the Climate Pledge agree to keep a check and measure greenhouse gas emissions regularly, and to implement decarbonization strategies in line with the Paris Agreement through changes in the business.
Telemedicine takes centre stage 🚨
The state of Karnataka will deploy Tele-ICU, an innovative at scale connected ICU facility to help its fight against COVID-19. The state has partnered with a startup CloudPhysician for this.
Through connected ICUs that read and monitor patients’ vitals in real time, KA is letting specialist nurses and doctors reach more patients remotely. This will improve doctor utilization across the board as well as help healthcare staff stay out of harm's way in treating at risk patients.
The facility will go live at two places covering close to a total of 50 beds in the trial phase.
The pandemic has accelerated tech adoption like nothing before. Healthcare and telemedicine are currently very hot areas for innovation. India has about 1 doctor per 100,000 patients nationwide in general, and technology like this could greatly help make healthcare accessible.
Freelancing gains momentum in India 📈
According to a study by Refrens, a Bengaluru based invoices and payment startup for freelancers, the freelancing business is showing signs of revival since the government eased the lockdown.
Refrens surveyed 1,400 respondents, which showed that around 64% respondents have more work now compared to the month of April. Roles like designers and writers are seeing a surge in demand, with nearly 76% saying they have more work in June than the last 2 months. Respondents agree that uncertain times are forcing companies to increasingly work with freelancers as a measure to reduce costs.
The pandemic has given the creator economy a boost as demand for creative services is up. Also trends like weak economic conditions coupled with job losses and work from home force companies who are looking to save on costs of a regular fixed employee to look for alternatives.
This could be a blessing in disguise for those looking for more control and flexibility over their work and life.
Ride hailing firm cuts staff 👎
The squeeze continues as Grab, the South East Asian ride hailing firm is set to lay off 300 of its employees citing economic fall out. This accounts for only 5% of its employees.
The layoffs came as part of the latest restructuring necessary to be more focused. The company has currently $3 Billion in cash reserves however according to sources.
The ride hailing industry has been disrupted by the pandemic as demand has vanished. Other Softbank backed companies such as Ola and Uber have also cut jobs.
Tweet of the day -
A second wave has begun emerging across parts of the world. States, countries and regions that were early in deprioritizing safety in favor of the economy have started seeing some increased hospitalizations.
While it's true that we have to continue supporting our local community and small businesses, it is highly advisable to stay away from crowds, wear PPE and follow basic sanitization rules.
Stay safe and lets hope this ends soon.
What else are we snackin’ 🍿
📱 Data consumption in India may touch 25 GB per month by 2025 - with rising smartphone connections in India and increased digital activity, Ericson predicts that per person usage of data may rise as high as 25 GB per month. Due to poor broadband connectivity, most Indians rely on their smartphones for internet access.
🚚 Hyperlocal delivery services to be launched by flipkart - partnering with a logistics startup ShadowFox, flipkart will start a 90-minute delivery service of stuff from stores nearby. Bangalore will be the first city for launch and test.
😷 Record Jump of 2000 COVID-19 deaths in india, death toll near 12,000 - couple of bad days for India. We lost our most prized in a border skirmish and now we added almost 2000 deaths due to COVID-19. Thankfully, the recovery rates still remain high.
🍾 Home delivery of alcohol will make it more accessible to women: United Spirits - gender parity in alcohol, nice! Ease of buying alcohol is one of the biggest hurdles for the spirit industry to overcome in selling its goods, and now it is hoping that buying with a click will make it easy for a lot more women especially to rejoice its offerings. Really? We’ll see.
😕 The virus is back in NZ- After nearly 24 days of being virus free, NZ has reported 2 new cases of Coronavirus. The new cases relate to 2 women from the same family who were given compassionate permission to visit a dying parent in the UK.
Hope you took a thing or two away from today’s edition. 😀
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