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Information Technology (IT) News
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OLX joins global tech layoffs, to fire 1,500 employees
- Olx Group, owned by Prosus' internet group Naspers, to lay off 1,500 employees (15% of global workforce) due to slowing demand for its services.
- According to its website, Prosus-owned corporation has over 10,000 employees worldwide including offices in India, Bulgaria, South Africa, Poland, and Ukraine.
- A company spokesperson stated that OLX would be cutting staff in all countries, business units, and job functions.
- However, the number of employees which will be impacted by the layoffs in India is unknown.
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Building mud house was tougher than cracking JEE: IIT topper couple quit US jobs to do farming
- IT toppers Sakshi Bhatia and Arpit Maheshwari left US jobs for farming in India.
- The goal was to establish a natural farm called "Jeevantika," which is primarily a mud house.
- The IITians said in a statement that building the mud house was more challenging than passing the JEE exam.
- The mud house, on 1.5 acres of land, produces 85% of the couple's consumption with oil being the only exception as they lack the machinery.
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Indian-origin Sikh engineer wins PM Rishi Sunak's award for low-cost invention
- Navjot Sawhney, a British Sikh engineer, won PM Rishi Sunak's Points of Light Award for his energy efficient manual washing machine.
- The machine is designed for low-income groups and can be operated in areas without electricity.
- Sawhney started the Washing Machine Project about four years ago, inspired by his volunteering work in India.
- PM Rishi Sunak praised Sawhney's "ingenuity and compassion" in creating the hand-cranked machine.
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Is it a tech gadget or a bar of soap? Samsung's T7 Shield leaves internet confused
- Samsung recently released its new portable solid-state drive (SSD) called T7 Shield.
- They shared an image of the product on Instagram with a caption emphasizing the ruggedness and durability of the product.
- However, many users on the internet compared the SSD to a bar of detergent after the post was shared.
- Despite the comments, the post has received a lot of likes, with 19,000 people liking it.
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Want to earn over $100K in 2023? This job also offers you remote opportunities
- Full-stack developers have been named the top job in Indeed's annual ranking of the best jobs in the US, due to high demand across industries and a positive 10-year outlook.
- The ranking also took into consideration factors like salary and remote/hybrid job opportunities, with an average salary of $129,637 and at least 50% of the listings offering remote or hybrid options.
- The demand for full-stack developers, who are responsible for building and maintaining the front-end and back-end of websites and applications, has been increasing across various industries, not just in the tech sector.
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EY Germany to cut jobs in effort to improve profitability post-Wirecard scandal
- EY Germany announces plans to reduce 40 partners and 380 employees to improve profitability following the impact of the Wirecard scandal.
- It plans to cut jobs, focusing on reducing back-office costs to improve profitability in one of its largest global operations.
- The majority of the 40 partners being cut are from the audit practice, and the cuts represent about 5% of the 800 equity and salaried partners within EY's German business.
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'We are questioned over toilet breaks': Workers reveal shocking treatment at Amazon
- Amazon workers in UK strike over pay, share claims of severe conditions, timed toilet breaks.
- Two workers affiliated with UK's GMB tell BBC that Amazon uses a mechanism to recognize "great performance.".
- BBC quotes workers Darren Westwood and Garfield Hilton, stating managers question workers over toilet trips, one claims "robots in warehouse treated better."
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29-year-old engineer tweets 'flight hijacked' after being upset over diversion, arrested
- 29-year-old Dubai-based engineer was arrested by Delhi Police for posting a tweet claiming his flight from Dubai to Jaipur was hijacked.
- The arrest was made as the man, identified as Moti Singh Rathore, was allegedly upset over the flight being diverted and fought with airline staff.
- Passengers were evacuated from the plane after the tweet, but it was cleared and later departed after inspection.
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Software giant SAP to lay off 3,000 employees to focus on 'core business'
- SAP announces plans to cut 3,000 jobs and potentially sell its remaining stake in Qualtrics to focus on its cloud business and reduce costs.
- SAP currently holds a 71% stake in Qualtrics, a survey software company, which has a current market value of $7 billion.
- Despite the layoffs, SAP's cloud business revenue saw a 30% boost in Q4 due to strong demand for the company's software.
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Work for Money & Move On: Layoffs at Tech Giants leave disillusioned employees
- Google, Amazon, Microsoft, and Meta, previously considered as safe places to work, have recently carried out large layoffs.
- Google conducted the largest layoffs in its history, Microsoft announced it will lay off 10,000 employees in 2023
- Meta, which owns Facebook, Instagram, and WhatsApp, fired over 11,000 employees in November.
- Tech giants have faced backlash from employees over recent large-scale layoffs, with complaints of poor firing methods, lack of loyalty.
- Google is facing criticism for firing people despite a $17 billion net profit in Q3, and calls for the dismissal of CEO Sundar Pichai.
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Musk’s fortune soars $11 billion in 2 days while testifying
- Elon Musk's net worth has increased by $11 billion in a two-day period, according to Bloomberg.
- This is the largest increase in his wealth since November 2022.
- The increase in his net worth comes as he is giving testimony in San Francisco regarding a tweet he made in 2018 about taking Tesla private.
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Thousands of Indian IT professionals struggle to stay in US following layoffs
- Indian IT professionals in the US, who lost jobs at companies such as Google, Microsoft, and Amazon, are struggling to find new employment within their visa's time limit following termination of their employment.
- The Washington Post reports that 200,000 IT workers have been laid off since November, with high numbers in companies such as Google, Microsoft, Facebook, and Amazon.
- Industry insiders estimate that 30-40% of the laid-off IT workers are Indian IT professionals on H-1B and L1 visas.
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IT, startups may lose 20,000 workers in next six months
- After two years of hiring frenzy, India's IT and startup sectors may lay off 15,000 to 20,000 workers in six months.
- Recruitment consultants anticipate fewer recruiting mandates in the coming months and have opted not to enter any new firms at this time.
- However, despite the fact that some IT and startup companies are laying off employees to cut expenses, others in the same industries are hiring.
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Tech giants that have announced layoffs in recent weeks
- Google on Friday announced layoffs of 12,000 employees, representing 6% of its global workforce.
- Microsoft announced plans to reduce its workforce by cutting 10,000 jobs, representing nearly 5% of its total workforce, earlier this week.
- Amazon announced the layoffs of around 18,000 employees globally this week and Salesforce has also revealed plans to let go of 8,000 employees.
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Wipro lays off freshers; 800 employees allegedly fired after internal test
- Wipro dismisses freshers citing poor performance, number not revealed, sources claim termination of 800 employees.
- The company waives off training cost of 75,000 INR for terminated employees, as per the termination letter accessed by Business Today.
- Laid-off Wipro fresher criticizes delay in onboarding and subsequent firing over poor performance.
- Another terminated fresher employee accuses Wipro of using poor performance as a "convenient excuse" for firing people.
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