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Friday, Jul 11, 2025
The move comes after the SC upheld stringent antitrust directives last week, rejecting a Google challenge against a CCI ruling that said the company abused its market position.
Earlier, tech giants Microsoft, Facebook and Amazon had axed several employees.
The top court asked the NCLAT to decide Google's appeal against the competition regulator's order by March 31 this year.
"There is a growing market consensus that the current global economic downturn would be a much more sustained one, and we thus have to, unfortunately, seek more cost savings by reducing our team size," ShareChat Chief Executive Officer Ankush Sachdeva said in an internal memo seen by Reuters.
The US tech giant penned a blog 'The Heart of the Matter' to put across its point on how the orders would harm the digital ecosystem in the country.
Alphabet Inc's Google and Apple have in the past faced scrutiny from the country's competition watchdog, the Competition Commission of India (CCI), over alleged abuse of the application market.
He further said India will be a big export economy and that it needs to create a balance between safeguarding citizens and enabling companies to innovate with its framework.
The initiative will use 'prebunking' videos – designed to counter false claims before they become widespread – circulated on the company's YouTube platform and other social media sites.
There will be no restrictions for the next two years on these two apps accepting new customers and carrying on with financial transactions without hindrance.
In a release, the Competition Commission of India (CCI) said it has also directed to modify its conduct within a defined timeline.
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