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Information Technology (IT) News
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US software company Databricks offers ₹2cr+ to IIT-Roorkee student
- The ongoing final placements at Indian Institutes of Technology (IITs) have witnessed an impressive start, with top firms offering crore-plus packages.
- Companies like Databricks breached the ₹2 crore mark at IIT Roorkee for an international role, while NK Securities emerged as a top paymaster at IIT-BHU with a ₹1.68 crore package. Notable recruiters included Optiver, Accenture Japan, Google, Goldman Sachs, and more.
- Despite global economic concerns, students secured salaries ranging from ₹15 lakh to over ₹2 crore, showcasing sustained interest from recruiters. The first phase of placements concludes in mid-December, reflecting the enduring appeal of IIT talent.
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Hiring in IT sector to remain slow in 2-3 quarters, says report
- Indian IT giants, including TCS, Infosys, HCL Tech, and Wipro, have reduced employee hiring over the last four quarters due to a demand slowdown and lower attrition levels following excessive pandemic-driven hiring, reports ICRA.
- Despite this, the average last twelve-month attrition for IT companies has dropped to 14% in September 2023 from 23% a year ago.
- The COVID-19-induced digitization demand initially led to record hiring, but macro-economic challenges in the US and Europe have slowed growth.
- ICRA expects muted hiring in the next two-three quarters as companies focus on profitability amid lower revenue growth and global uncertainties.
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Ola CEO Bhavish Aggarwal returns to alma mater IIT-Bombay for hiring
- Ola CEO Bhavish Aggarwal returned to his alma mater, IIT Bombay, for campus placements, participating in Day Zero interviews.
- Aggarwal shared on social media his excitement about interacting with bright and energetic students during the Day Zero campus interviews.
- Reflecting on his own journey, Aggarwal mentioned that he didn't secure a Day Zero job offer when he was a student at IIT Bombay.
- Day Zero is the first day of campus recruitments at many IITs, where top companies aim to secure talent by offering job positions to students, and landing a Day Zero placement is considered prestigious.
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IT hiring remains muted while demand for talent with functional skills rises in Q2 of FY24: Report
- IT sector hiring remained subdued in Q2 FY24, showing a decline in headcount for large IT services companies.
- Despite the overall muted hiring, there was a notable surge in demand for functional skills such as Development, ERP, Automotive Design, Testing, and Administration.
- Specific functional skills contributed to 65% of IT sector demand, with additional interest in Gen AI, Data Science, DevOps, Cloud, Automotive Engineering, Cyber Security, and Networking Specialists.
- India's IT sector is transforming beyond Bengaluru, with emerging tech hubs like Pune, Hyderabad, Mumbai, Chennai, and Delhi NCR gaining prominence, accounting for over 79% of technology job postings.
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Bengaluru techie dies of heart attack after India's loss to Australia in World Cup final
- Jyotish Kumar Yadav, a 35-year-old IT professional from Bengaluru, suffered a fatal heart attack following India's loss to Australia in the ODI World Cup final. The stress and tension during the match reportedly led to chest pain, ultimately resulting in his collapse.
- Yadav, who had returned to his hometown of Tirupati for Diwali holidays, was watching the match with friends and family. The festive gathering took a tragic turn as the match progressed, and India faced challenges in their batting performance.
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Indian IT employees forced to work 50 hours a week to meet deadlines: Data
- Indian IT employees average 45-50 weekly hours, exceeding the standard 40 hours, often due to project deadlines as per data from staffing firms.
- Industry's emphasis on hours over productivity, coupled with factors like commutes and stress, hinders optimal performance.
- Over five fiscal years, productivity per rupee spent on employee compensation has stagnated, impacting the industry's financial dynamics.
- A substantial 58% of IT workers in India report an average to poor work-life balance, highlighting the need for a cultural shift in the industry.
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IT firms can place staff in different locations: TeamLease RegTech CEO
- CEO of TeamLease RegTech, Rishi Agrawal, asserts that IT firms have the right to transfer employees to different locations based on business needs, and no permanent single location commitment can be guaranteed.
- The statement comes in response to allegations by the IT employees' union, NITES, claiming that TCS transferred over 2,000 employees without proper notice or consultation.
- Agrawal points out that employment terms are governed by the Industrial Employment (Standing Orders) Act of 1946. Offer and appointment letters, aligned with standing orders, outline the terms and conditions.
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Bihar farmer's son enrolls into IIT at 13, picked by Apple at 24
- Satyam Kumar, hailing from Bihar's Bhojpur district, entered the prestigious Indian Institute of Technology (IIT) in Kanpur at the remarkable age of 13 in 2013, securing the 679th rank and becoming the youngest Indian to achieve this feat.
- After an initial rank of 8,137 in 2012, Kumar retook the IIT exam, showcasing determination and breaking the record for the youngest IIT qualifier.
- Graduating in 2018 from IIT Kanpur, Kumar pursued a Ph.D. at the University of Texas in Austin, expanding his academic horizons.
- At 24, Kumar joined Apple as a machine learning intern until August 2023, marking a successful start to his professional career.
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TCS office in Bengaluru receives hoax bomb threat from laid-off employee: Reports
- Panic ensued at TCS Think Campus in Bengaluru on November 14 due to a hoax bomb threat received at the B block during the morning hours.
- TCS promptly alerted the Parappana Agrahara police station, leading to the immediate deployment of police officials, bomb disposal squad, and dog squad to the location.
- Preliminary investigations revealed a Hubli-based former female TCS employee as the alleged perpetrator, acting out of anger. The accused's identity was not disclosed in initial reports.
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Tech firms & startups sack about 2.5 lakh employees so far in 2023
- Over 2.5 lakh tech and startup employees globally have lost jobs in 2023, a 50% increase from 2022. Major companies like Google, Amazon, and Microsoft, as well as smaller startups, have contributed to this trend.
- Data from Layoffs.fyi shows that nearly 1,106 tech companies have laid off 248,974 employees by November 11, exceeding the 2022 total. The average daily layoffs over the last two years are 555, indicating a widespread impact across the tech sector.
- Retail tech and consumer tech experienced the highest layoffs in 2023. Anticipated further layoffs suggest ongoing challenges. Recent announcements from companies like F5, Viasat, and Splunk highlight the tech and gaming sectors' struggles.
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Non-IIT, Non-IIM student lands impressive Rs 1.13 crore job offer
- Saahil Ali, a DAVV graduate from Indore, secured a record-breaking Rs 1.13 crore annual package from Netherlands-based technology firm Adyen.
- His achievement challenges the conventional belief that top-tier institutions are the only path to lucrative job opportunities, showcasing the importance of skills and dedication over institutional tags.
- Before joining Adyen, Saahil gained diverse internship experiences at organizations like Eatburp Developers, Codenscious, Cliff.ai, Greendeck, Python Software Foundation, GitHub, and Cred, highlighting his versatility in the tech industry.
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Nordic region emerges as pocket of hope for Indian IT as other markets slow
- Indian IT giants, like TCS and Infosys, are thriving in the Nordic market, which grew from $24.4B in 2018 to $29.5B in 2023.
- With TCS having 20,000 employees and Infosys over 2,500, Indian companies are strategically expanding in the Nordics, establishing local centers and tailored strategies.
- Indian firms offer a 10-15% cost advantage, evidenced by deals like Infosys' $454M Danske Bank agreement, showcasing their prowess in digital transformation.
- Nordic clients choose Indian IT partners for sustainable cost reductions (1.5-2%), and managed-services outsourcing expenditures in the Nordics have rebounded by 9% in H1 2023.
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Platform Engineering: The Future of Software Development
- Platform engineering is a tech approach boosting app delivery and business value via self-service tools and automated infrastructure operations.
- It responds to the complexity of modern software architectures, alleviating the burden on non-expert end users managing intricate services.
- By 2026, 80% of large software engineering organizations are expected to establish platform engineering teams, acting as internal providers of reusable services and tools.
- Platform engineering involves dedicated product teams creating tailored engineering platforms, often starting with internal developer portals. The goal is to provide a seamless, self-service experience for developers and streamline the software development process.
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Why techies prefer GCCs over IT services companies?
- Techies favor Global Capability Centers (GCCs) and product firms with offer acceptance rates of 65-70%, surpassing the 50-55% rates for traditional IT services.
- GCCs provide better learning curves and long-term projects, allowing tech professionals to gain in-depth knowledge, from conception to execution.
- Techies are attracted to GCCs for progressive HR policies, flexibility, LGBTQ+ inclusivity, and appealing campus facilities, with occasional short-duration foreign visits for training.
- Product firms and GCCs offer significantly higher annual salary increments (up to 80%) compared to IT services companies (limited to 50%).
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Muskan Agrawal, India's 'top woman coder' and a BTech graduate, secures Rs 60 lakh job from LinkedIn
- Muskan Agrawal from IIIT Una secured a historic job offer of Rs 60 lakh per annum from LinkedIn, setting a new benchmark for the highest-ever salary package in the institute.
- Her journey started with winning the 'top woman coder' title at TechGig Geek Goddess in 2022, triumphing over 69,000 women coders.
- Muskan's active involvement in open-source projects earned her a spot in LinkedIn's mentorship program, providing valuable guidance from industry professionals.
- Joining LinkedIn in July 2023, Muskan now holds the role of a software development engineer, showcasing her skills and contributing to IIIT Una's successful placement record.
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