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Why Narayana Murthy turned down Air India & 2 other jobs to join IIM at half the salary
- Infosys Founder Narayana Murthy was invited as the Chief Guest at IIM Ahmedabad's 58th convocation.
- IIM-A revealed that Murthy had three job offers from TELCO, TISCO, and Air India which offered him a salary of ₹1,600/month, but he chose to join IIM-A as Chief Systems Programmer at ₹800/month.
- The reason for his decision was that IIM-A was planning to install India's first time-sharing system, which he wanted to learn about.
- Murthy later went on to become the Chairperson of IIM-A, showcasing his long-standing association with the prestigious institute.
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UBS-Credit Suisse merger to result in up to 36,000 job cuts worldwide: Reports
- The Swiss government hastily arranged the takeover of Credit Suisse by UBS on March 19 to prevent a global financial meltdown.
- The merger could result in up to 36,000 job cuts worldwide, with up to 11,000 in Switzerland alone.
- UBS announced the appointment of former CEO Sergio Ermotti to handle the risks involved in the merger.
- Credit Suisse was embroiled in a series of scandals before the merger, including the bankruptcy of Greensill and the implosion of Archegos, a bribery scandal in Mozambique, and a money laundering case linked to a Bulgarian cocaine network.
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Indian startup ecosystem sees no new unicorn in 6 months, a first in 7 yrs: Report
- India's startup ecosystem has not seen a new unicorn in the last six months, according to a report by Moneycontrol.
- This marks the longest period of time in seven years that the sector has gone without a new startup valued at $1 billion or more.
- The last Indian startup to achieve unicorn status was Molbio Diagnostics in September 2022.
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