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Stock Market Live: Indian shares trimmed losses to trade in range lifted by heavyweights RIL, ITC and Axis Bank, however, losses in HDFC Bank, HUL and Infosys kept capped the gains. Axis Bank surged 5 percent post its Q1 numbers as brokerages raised target price, whereas HUL, Bajaj Finance results did not impress the Street.
Microsoft Corp’s professional networking site LinkedIn said on Tuesday it would cut about 960 jobs, or 6 percent of its global workforce, as the coronavirus pandemic is having a sustained impact on demand for its recruitment products. California-based LinkedIn helps employers assess a candidate’s suitability for a role and employees use the platform to find new job. Jobs will be cut across sales and hiring divisions of the group globally. Announcing the plan in a message posted on LinkedIn’s website, Chief Executive Ryan Roslansky said the company would provide at least 10 weeks of severance pay as well as health insurance for a year for US employees, and will hire for newly-created roles from laid-off staff.