BUSINESS
Amazon Wholesale posts loss of Rs 480 crore in FY22 against Rs 43-crore profit in FY21
Amazon Retail India’s net loss widened to Rs 794 crore for the fiscal ended March 2022.
BUSINESS
Infosys warns employees moonlighting could lead to termination
Infosys warned employees that dual employment is not permitted by its employee handbook and code of conduct.
BUSINESS
Amazon India to waive 50% fee for new sellers in festive season
All new sellers registering on Amazon.in between August 28 and October 26, and launching within 90 days can avail a 50% waiver on the amount they pay to sell their products through the website, Amazon.in said in a statement.
BUSINESS
Bengaluru’s rain-related infra woes reignite WFH debate
While the city’s infrastructure problems need to be addressed on a war footing, experts feel that Bengaluru remains an attractive destination for employers and employees alike.
BUSINESS
Dunzo delivery workers protest in Bengaluru over changes in payment structure
Delivery partners are also upset over batching of orders, which they say will hit their daily delivery targets, and Dunzo's plan to reduce workforce
BUSINESS
Flood-hit Bengaluru residents face double whammy as delivery apps hit pause button
Quick commerce companies remain cautious as more rain has been forecast for the city and the overcast skies threaten to open up any time
BUSINESS
Atlassian plans to hire over 1,500 people in India by end of FY24
The company, which has more than 1,400 people at its R&D centre in Bengaluru, says it will hire across engineering, product, and design functions
BUSINESS
Should employees be allowed to moonlight? India Inc is a divided house
IT companies are waiting and watching whether it is making an actual difference on the work front before they take a step. Many feel it is difficult to supervise what a remote worker does during the office or after hours.
BUSINESS
Inflated salaries, falling margins, slowing demand: Why Indian IT companies are cutting variable pay
High levels of attrition, increasing travel costs, and fears of a recession that’s affecting demand for IT services are putting pressure on margins of tech companies.
BUSINESS
TCS says no delay in variable payout process, 100% being paid out in Q1
A TCS statement said that variable pay is paid either in month one or two, and that there is no delay in this process.
BUSINESS
Demand for IT companies to remain strong for next 18 months, experts say
A survey by investment firm Wedbush Securities shows that IT companies’ clients maintain a positive intent to spend on technology both in the second half of the calendar year 2022 and the first half of 2023
BUSINESS
Exclusive | Infosys cuts average variable payout to 70% for Q1 on margin pressure
Infosys’ move to reduce payout comes days after its rivals such as TCS and Wipro deferred or reduced variable payouts for the April-June quarter in a bid to defend margins.
BUSINESS
After Wipro, TCS delays June quarter variable pay of select employees
The employees were to receive their variable pay along with July’s salary, which will has be paid with August salary
BUSINESS
MC Exclusive | Wipro holds back April-June quarter variable payouts for mid, senior-level employees
Wipro's move to pause variable pay and defend margins comes amid fears of a possible recession in the US
BUSINESS
Company boards need people who think like founders: Nandan Nilekani
Nandan Nilekani maintains that he will stay at Infosys for as long as he is needed, but added that he is not going anywhere.
BUSINESS
People should be top priority in data protection law: Justice Srikrishna
The former Supreme Court judge said it’s understandable that the government wants to come up with a better data protection law as the various iterations of the bill were a “hotchpotch.”
BUSINESS
IIT Madras records most number of campus placements in an academic year
The average salary offered to students during placements was Rs 21.48 lakh per annum, and the highest salary offered was $250,000 or Rs 1.9 crore.
BUSINESS
Narayana Murthy fund Catamaran taps former Infosys execs MD Ranganath and Deepak Padaki for top roles
MD Ranganath will be Catamaran's Chairman, and Deepak Padaki will be the firm's President.
BUSINESS
Govt withdraws Personal Data Protection Bill 2019, to present new bill
The Centre told the members of the Joint Parliamentary Committee that a new Bill that fits into the comprehensive legal framework is being worked on.
BUSINESS
Big Tech job openings in India slump significantly amid larger slowdown
Active job openings across Facebook, Apple, Amazon, Microsoft, Netflix, Google were down to 9,000 from their average listing of at least around 40,000 jobs
BUSINESS
Uber lost $707 million on its Zomato investment in H12022
Uber currently holds 7.78% in Zomato.
BUSINESS
Have to expand beyond Bengaluru to touch $150 billion IT exports: Karnataka IT minister Ashwath Narayan
Ashwath Narayan wants to scale up IT exports to $150 billion in the next 3-4 years, which he says is an achievable target.
BUSINESS
Data analytics, Java, Cloud, the most-wanted digital skills in June quarter: Quess Corp
Junior and entry-level hiring requirements outpace other categories, with organisations looking at cost optimisation
BUSINESS
Cognizant cuts revenue guidance, attrition zooms to 36%
Growth across the company’s key verticals was also impacted barring communications, media and technology
