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Information Technology (IT) News
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'BMW motorcycle as a sign-on bonus': These engineers are in extremely high demand in India
- India's tech industry has relied on a large and affordable workforce, but there is a dwindling supply of talent in critical areas such as AI and data science.
- According to a report by Bloomberg, some IT companies in India are going to the extent of offering new BMW Motorcycles as a sign-on bonus.
- The report suggests that data scientist specialists in Delhi are witnessing pay hikes of 35 per cent to 50 per cent every time they switch jobs. In India, there is a high demand for data scientists, machine-learning specialists, and skilled engineers.
- US-based companies like Flexcar are building teams in Indian cities like Bengaluru to access the highly skilled population and talent pool.
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Central Railway to launch mobile app for TCs to collect fines from ticketless passengers
- Central Railway's Mumbai division introduces a mobile app for collecting fines from ticketless travellers starting from Wednesday. The app has been developed in collaboration with a bank to assist every ticket examiner.
- Along with the mobile app, 50 ticket checkers of Central Railway's Mumbai division will also be provided with bodycams starting from Wednesday.
- This initiative aims to improve transparency and accountability during the fine collection process.
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Top high paying jobs that allow you work from home
- FlexJobs lists the top high-paying work-from-home jobs in several fields, including product management, IT project management, and front-end development, with earnings close to six figures or more.
- Medical directors & Cloud solutions architects are among the highest-paying work-from-home position, with salaries ranging from $132,700 to $276,000.
- Psychologists and security professionals are also in demand in the work-from-home job market, with the top 10% earning $119,000 and $147,000, respectively.
- With the pandemic changing the work culture, people have discovered that working remotely has its advantages, and it is becoming a viable option for many.
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How are employee costs trending in IT?
- Employee costs in top Indian IT companies have increased over the last four years.
- Manpower-related costs make up 60% of IT service companies' expenses.
- Employee costs outpaced revenue growth for TCS, Wipro, and HCL Technologies between 2019-20 and 2022-23.
- Wage costs as a share of revenue have increased to 55.9% in 2022-23, which is the highest in the last five years for all firms except Infosys.
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School districts took on Juul with a novel legal strategy & now they’re going after social media giants
- Law firms that secured a billion-dollar settlement from Juul for being a “public nuisance” are now targeting social media giants for exploiting children in the same way.
- The suits filed on behalf of public school districts against ByteDance, Snap, Meta, and Alphabet, argue that the companies’ social media platforms are contributing to an unprecedented mental health crisis.
- The firms claim that the tech companies “purposefully designed their platforms to be addictive and to deliver harmful content to youth.”
- The San Mateo County Board of Education in California is among the districts affected by social media trends and believes that the algorithms and designs of the technologies are intentional and sophisticated.
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TCS to give 12-15% salary hikes to top performers
- TCS is giving a 12-15% salary hike to its top-performing employees to reduce the current attrition rate of 20% to 13-14% in the second half of the fiscal year.
- The company is also considering raising the base salaries of campus recruits, which could prompt other IT firms such as Infosys, HCL Technologies, and Wipro to follow suit.
- TCS hired 44,000 employees from campuses last fiscal year and plans to hire another 40,000 in the current fiscal year.
- Despite a shrinking job market in the IT sector, TCS expects its attrition rate to fall to pre-pandemic levels in H2FY24.
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Infosys share price drops over 11% to trade at ₹1229.30 per share on the NSE, down ₹160 per share
- Infosys, a major IT company, saw a 10% drop in share prices during opening trade on April 17, 2023, hitting a lower circuit.
- Trading in the stock was halted for some time due to over 27 lakh sell orders with no buyers for the stock.
- Infosys missed revenue and profit expectations for the March quarter, leading traders to mount bearish bets on the counter prior to the result announcement.
- Over the past year, Infosys has dropped over 20%, with the 52-week low for the share price being broken on April 17, 2023.
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Internet companies to lose safe harbour if flagged content not removed: Govt
- Internet firms like Google, Facebook and Twitter will be held accountable for false content by the government-notified fact-checker, according to MoS for IT Rajeev Chandrasekhar.
- The fact-checker will serve as a reference point to combat misinformation and will not have an impact on free speech, Chandrasekhar said.
- The removal of safe harbour protection for intermediaries will require online platforms to take responsibility for the content posted on their platforms.
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Is keeping camera off in office and remote work meetings considered rude?
- According to a survey of 1,500 respondents, 47% of those aged 35 to 44 strongly agree that being off camera during virtual meetings is considered rude.
- The study shows that remote work culture has given rise to new etiquette expectations, with camera usage becoming a key element in fostering engagement and connection.
- Some employees have expressed concerns over privacy and the potential negative impact on work-life balance due to constant camera usage.
- Remote work experts suggest that camera-on policies should be balanced with the recognition of employee privacy and the need for occasional breaks from being constantly visible during work hours.
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5 important laws that salaried employees in India should know about
- Industrial Disputes Act protects salaried employees in India from layoffs and mandates compensation if laid off.
- Payment of Gratuity Act mandates payment of a stipulated amount after 5 years of continuous service.
- Maternity Benefit Act mandates benefits and prohibits discharge or dismissal during maternity leave.
- Employees State Insurance Act provides medical and financial assistance and requires contributions from employers and employees.
- Sexual Harassment of Women at Workplace Act mandates an internal committee for complaints and protects against sexual harassment.
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OpenAI rolls out ChatGPT plugins, search and discover like never before
- OpenAI has introduced ChatGPT plugins, a way to extend the scope of its chatbot language model. Plugins allow people to enter text commands, via typing or speech recognition, and have ChatGPT formulate a response using data from third-party services.
- If this can be done accurately and quickly, without excessive cost, OpenAI may have found the successor of traditional web search.
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Salesforce considers more job cuts amid profit push
- Salesforce Inc. may face another round of job cuts as the company prioritizes profitability, according to COO Brian Millham.
- The company recently eliminated 10% of its workforce, or around 8,000 employees, in its largest-ever headcount reduction.
- Salesforce is working with consultant Bain & Co. to review the business and make recommendations for further cost-cutting measures.
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Accenture's layoff News sparks 'panic' and 'anxiety' among India's IT professionals
- Accenture will lay off 19,000 employees globally as part of its cost optimization efforts in Q2 of fiscal 2023.
- This news has caused anxiety among engineering talent in India, where Accenture has a large employee base.
- Indian IT professionals worry that other tier-one IT companies may also announce layoffs.
- Accenture's management says hiring in Q3 will be minimal, and other IT companies are yet to hire freshers.
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Goldman Sachs recruiting head shares 4 Insider tips for securing a summer Internship
- Focus on your experience and achievements when applying for a Goldman Sachs internship.
- Tailor your application to the specific role you are applying for to stand out from other applicants.
- Highlight your passion for the finance industry and demonstrate your knowledge of Goldman Sachs and its values.
- Network and build connections by attending virtual events and reaching out to alumni to increase your chances of success.
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Developer added tribute to his wife in 'The Last Of Us' game
- 'The Last of Us' developer Peter Field's tribute to his wife made it into the Season 1 finale of the HBO show.
- In the game, Field named a baseball field "Bethany Clare Field" after his wife, and this same sign appears in the background of a scene in the TV show.
- Field was surprised to see the Easter egg survive the transition to live action TV, and believes HBO may have known what it was doing.
- The Last of Us franchise is continuing with Season 2 adapting The Last of Us Part II and a new multiplayer game in development, but the future of the series beyond that is uncertain.
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