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In a big hit to Infosys, the Royal Bank of Scotland (RBS) has cancelled a major contract that will impact as many as 3,000 of Infosys’ employees and impact revenues for the year by about $40 million. The cancellation came following RBS’ decision to abandon its plan to float a separate standalone UK bank -Williams & Glyn (W&G). RBS had awarded a five-year 300-million-euro IT contract to Infosys and IBM for W&G. The major portion of that, may be as much as $200 million, was to go to Infosys. “Infosys...

Flipkart is reportedly laying off its employees who have failed to meet professional expectations. Quoting the sources in the company, the ET report stated that the decision is expected to impact 700 to 1,000 staff. “The cleanup is a part of the process of making Flipkart a lean organization,” ET report quoted one of the people cited above. The move, while not unique to Flipkart, is reflective of the challenging times for the online retail industry, as well as the company, which is attempting to find a balance between saving costs and...