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Mastercard's NFT chief Satvik Sethi resigns, citing abuse & emotional suffering
- Satvik Sethi, Mastercard's product lead for NFTs, has resigned from the company due to harassment and emotional distress.
- In his tweets, he highlighted the company's inefficiencies, including issues with poorly managed processes and miscommunications.
- He also claimed that there were instances when he did not receive pay for several months unless he petitioned across the hierarchy.
- Sethi served a three-month notice before leaving the company, which he claims was an attempt to prevent him from quitting after informing HR about his problems.
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Amid layoffs, this Indian tech company gifted cars to its employees
- Tridhya Tech, an Indian tech company, gifts cars to 13 employees for good performance.
- The gifts were given to employees who have been with the company since its inception, and the company plans to continue this tradition of rewarding employees.
- Tridhya Tech is a software development company based in Ahmedabad, offering tech solutions in eCommerce, web, and mobile application development, serving clients in Asia, Europe, and Australia.
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Byju's cuts jobs, lays off over 1,000 employees
- Byju's cuts workforce by 1,000-1,200 as part of cost reduction effort.
- Affected teams include engineering, sales, logistics, marketing, and communications.
- Despite previous reassurances from CEO Byju Raveendran, the company has gone ahead with layoffs.
- Raveendran stated in an October internal email that the company will prioritize rehiring laid-off employees for newly created relevant roles.
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Intel slashes pay across company, CEO takes 25% pay cut
- Intel Corp has announced pay cuts for employees and executives, following a lower-than-expected sales forecast.
- The cuts range from 5% of base pay for mid-level employees to 25% for CEO Pat Gelsinger, with the hourly workforce's pay remaining unchanged.
- The cuts are meant to have a greater impact on executives and support investments and the overall workforce.
- An Intel spokesperson, Addy Burr, stated the changes are designed to help support the company's investments and workforce.
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Meet Sridhar Vembu, Tamil Nadu villager & founder of Zoho that made Rs 2,749 cr profit this year
- Sridhar Vembu is the founder of Zoho, a successful company with a profit of Rs 2,749 crore this year.
- Vembu hails from a small village in Tamil Nadu and is considered a self-made man.
- Zoho offers a wide range of business and productivity software, with a focus on affordability and accessibility for small and medium-sized enterprises.
- Vembu is a prominent figure in the Indian business community, known for his entrepreneurial success and innovative approach to technology.
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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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Global Dream Jobs Unveiled: Google search data shows most popular career choices
- The most desired jobs globally according to search engine data are pilot, writer, dancer, YouTuber, and entrepreneur.
- The US, Canada, UK, and Australia had the most searches for "how to be a pilot" with a median salary of $100,000 in the US.
- Dietitian is the top dream job in China, while comedian is the top dream job in Lebanon.
- Writing is the top dream job in India, New Zealand, and South Africa, with over 800,000 global Google searches, but with potential career risks.
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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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Want to land the hottest job in the market?
- The shortage of chief financial officers (CFOs) is currently one of the most pressing labor shortages for many companies.
- According to executive-search firm Spencer Stuart, assignments for CFO appointments across Europe, the Middle East and Africa have increased by nearly a third compared to the same period last year.
- As signs of inflation and rising interest rates indicate the end of low-cost borrowing, companies are looking for more from their finance directors.
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3M to lay off 2,500 manufacturing employees due to slow consumer demand
- On Tuesday, 3M announced that it plans to reduce its manufacturing workforce by 2,500 employees.
- The company's Chief Financial Officer, Monish Patolawala, stated that the decision was due to a slowing in organic sales volume during the first three weeks of January.
- In response, 3M intends to adjust its manufacturing levels and exercise financial discipline until sales volume improves.
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It's a 24x7 job, 'work life balance' mindset won't work: Zomato CEO posts vacancies
- Deepinder Goyal, CEO of Zomato, shared on LinkedIn that the company has 800 open positions available across five different roles.
- The job listing for 'Chief of Staff to CEO' states that it is a 24*7 job where the traditional employee mindset of work-life balance won't work.
- "You will be nothing less than a force multiplier and mini-CEO for the organisation," he added.
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Spotify joins Google, Amazon & Microsoft in layoffs to reduce costs
- Spotify is reportedly planning layoffs in an effort to cut costs, according to sources familiar with the plans, with layoffs expected as early as this week.
- The number of job cuts wasn’t specified. In October, Spotify let off 38 staff from its Gimlet Media and Parcast podcast studios, in addition to podcast editorial employees laid off in September.
- According to its Q3 earnings report, Spotify has around 9,800 employees.
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HCL Technologies plans to recruit 30,000 new employees in next 12 months: CEO C Vijayakumar
- HCLTech CEO, C Vijayakumar, announced plans for a significant recruitment drive, aiming to hire 30,000 employees within the next year, during an interview with BQ Prime at the WEF in Davos.
- HCLTech saw a significant decrease in attrition in the last quarter, going from 23.8% to 21.7%. Additionally, talent costs have also moderated, Vijayakumar said.
- The company has increased its efforts in recruiting new talent, he added.
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Wayfair to lay off more than 1,000 employees due to sales decline
- Wayfair Inc announced job cuts, more than 1,000 employees will be affected, according to Bloomberg news.
- In August, the company announced cuts of about 870 positions, representing about 5% of its global workforce, according to an anonymous source.
- Wayfair struggles with sales decline, due to pandemic-related revenue boom, per Bloomberg report.
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New workplace trend: Employees turn to 'Rage Applying' after 'Quiet Quitting'
- Rage applying is when frustrated employees apply for multiple jobs at once due to dissatisfaction with current job and boss.
- Individuals who engage in 'rage applying' are assertive in their job search, sending resumes to various companies and recruiters in search of better work environments and higher pay.
- Rage applying trend gains popularity after TikTok user successfully negotiates $25,000 raise by applying to multiple jobs at once.
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