Ageism Haunts Some tech Workers in the Race to Get Hired
Hundreds of thousands of tech workers have been laid off since 2022. Some who don’t fit the young coder archetype say being more experienced can feel like a disadvantage. Key Points
WIREDEurope's Digital Markets Act Is Breaking Open the Empires of Big Tech
Tech giants now have to comply with the EU's Digital Markets Act. It aims to force open the biggest platforms to encourage competition and give users more choice in their digital lives. Key Points
WIREDMWC 2024 Day 2: From wearable AI to smartphones, here are major announcements
MWC 2024 showcases groundbreaking gadgets like Humane AI Pin, Nothing's Phone 2a, TCL's budget-friendly 50 series models, Techno's Dynamic1 robot dog, and Tecno's Pocket Go AR gaming set. These innovations promise to revolutionize daily tech interactions. Key Points
minttech Job Interviews Are Out of Control
Tech companies are famous for coddling their workers but after mass layoffs the industry's culture has shifted. Engineers say that getting hired can require days of work on unpaid assignments. Key Points
WIREDIn just one year, over 67000 jobs gone at Infosys, TCS, Wipro and tech Mahindra
2023 was a challenging year for tech professionals across the globe due to large-scale layoffs announced by various tech companies. Four IT giants - Infosys, TCS, Wipro and tech Mahindra - alone laid off over 67,000 employees. Key Points
India Today
Fat tech pay cheques shedup to 40% as slowdown bites
Salary offers for IT professionals have dropped 30-40% due to global macroeconomic headwinds and IT sector slowdown. Big tech companies rationalized their workforce, leading to lower pay packets. Early-stage startups are hiring CXOs and senior tech talent at realistic salaries, including variables in the compensation. Michael Page India is helping startups, including an edtech firm, with tech hiring. Key Points
Economic Timestech Mahindra shares plunge 6% on Q3 earnings. Here's what brokerages recommend
Shares of tech Mahindra fell more than 6% following disappointing Q3 results. Kotak Institutional Equities and Nuvama retained their 'Reduce' ratings. Kotak highlighted the long turnaround journey for tech Mahindra despite healthy revenue growth, citing macro challenges and weak telecom outlook. Nuvama called Q3 earnings a mixed bag with an uncertain outlook, noting lower EBIT margin and weak bookings. Key Points
Economic Timestech Mahindra Q3 results today: What to expect, how to trade the stock and key things to watch
Tech Mahindra Q3 results: tech Mahindra overall revenue and constant currency revenues likely to decline, offset by margin expansion up to 330 basis points. Deal wins expected to be muted due to lower working days and weak macro environment. Communication and enterprise segments are under pressure. Key Points
Economic TimesTikTok lays off 60 employees to reduce costs and reorganise workforce
TikTok has joined the growing list of tech companies implementing layoffs, with around 60 employees let go in a bid to lower costs. The move comes amid a broader economic slowdown in the tech industry, with giants such as Google, Amazon, and Meta also cutting jobs. Key Points
India TodayNo, the Great tech Layoffs of 2023 Aren’t Happening Again
Amazon, Discord, Duolingo, and Google all started 2024 with layoffs. But the tech job market isn’t facing the same trouble it did last year. Key Points
WIRED
India tech valuations put to the test as global headwinds put pressure on earnings
Indias tech sector index, which includes Infosys Ltd. and Tata Consultancy Services Ltd., rallied 12% in the three months through December, powered by a global rally in the space after a dovish pivot by the Federal Reserve. Indias tech stocks trade at about a 30% premium to the broader market. Improved sentiment aside, IT earnings remain under pressure. Key Points
Economic TimesGoogle, Amazon, other tech giants have paused hirings in India: Story in 5 points
Major tech giants like Google, Amazon, Meta, and Apple are slamming the brakes on hiring in India. The active job postings from these companies have plummeted by a staggering 90 per cent compared to 2022. Key Points
India TodayGoogle, Amazon, other tech companies may soon pause hiring in India, job openings down by 90 per cent
The Indian tech space is feeling the impact of the global economic slowdown with major tech giants like Google, Amazon, Meta, and Apple reportedly slowing their recruitment processes. The active job postings by these companies have plunged by 90 per cent compared to 2022. Key Points
India TodayUS consumer watchdog hands Wall Street rare win with Big tech crackdown
The U.S. consumer watchdog, not usually known to side with Wall Street lenders, has handed them a rare win by cracking down on Big tech companies that are increasingly encroaching on banking turf. Key Points
ReutersThe Government Is Now the Hottest tech Employer in Town
Meta, Google, Amazon, and other major tech firms have laid off thousands of people. The public sector has tried—and in some cases, succeeded—to lure them in. Key Points
WIRED
Nifty may touch 23,000 over next 1 year; largecaps to dominate: Dipan Mehta
“Across the board, I do not think there is any sector which is highly overvalued per se. But in two to three sectors, especially the external facing ones, like chemical and software, an investor needs to be a bit cautious. I would like to remain underweight in these two industries.” Key Points
Economic TimesUS consumer watchdog proposes rules for Big tech payments, digital wallets
The top U.S. consumer financial watchdog on Tuesday proposed to regulate tech giants' digital payments and smartphone wallet services, saying they rival traditional payment methods in scale and scope but lack consumer safeguards. Key Points
ReutersThe finance and tech gold rushes are over. Where will people seeking wealth turn next?
The tech industry's gold rush is coming to an end as venture capital funding and IPOs decline. The industry will likely shrink, employing fewer people and offering more normal returns. Key Points
mintIndia's tech Mahindra shares slide on biggest profit drop in 16 years
Shares of Indian IT services company tech Mahindra (TEML.NS) dropped to nearly a three-month low on Thursday, a day after the company posted its biggest profit drop in 16 years. Key Points
ReutersIndia's tech Mahindra posts biggest profit fall in 16 years
India's tech Mahindra (TEML.NS) on Wednesday posted its biggest fall in profit in over 16 years as expenses mounted and clients tightened spending amid a tough macroeconomic environment. Key Points
Reuters
Biden administration picks 31 regional tech hubs to spur US innovation
The U.S. Commerce Department has announced the names of 31 regional tech hubs that will be eligible for $500 million in federal funding to promote innovation in various sectors. The program aims to diversify the tech landscape in the United States and attract private sector investments in industries such as electric vehicle battery production, semiconductors, and clean energy. Key Points
Economic Timestech CEO Pava LePere's murder suspect arrested
Tech CEO Pava LePere's murder suspect arrested after warning issued. LePere was found dead in her luxury apartment. | World News Key Points
Hindustan TimesUS senators Warren, Graham kick off bipartisan anti-Big tech push
U.S. senators Elizabeth Warren, a Democrat, and Lindsey Graham, a Republican, said on Thursday they would push for an ambitious bill to create a new government regulator empowered to rein in Meta Platforms' (META.O) Facebook, Alphabet's (GOOGL.O) Google, Amazon.com (AMZN.O) and other Big tech platforms. Key Points
ReutersBig tech under pressure as Microsoft results put AI costs in spotlight
A number of U.S. big tech companies fell on Wednesday as Microsoft's results signaled how the high-stakes battle for AI supremacy will cost the tech giants that have seen their shares rally in recent months on hype around the technology. Key Points
ReutersIT stocks having their own Chandrayaan-3 moment. Did you miss the fineprint in Q1 results?
While TCS' June quarter numbers did not lead to upgrades, HCL Tech's figures were an all-round miss and Wipro's weak guidance drew bearish comments. But stock prices have another story to tell. Led by 7% weekly jump in Infosys and 5.6% rise in TCS, Nifty IT index ended last week higher by 4.7%. Key Points
Economic Times
Lamrin tech Skills University Punjab launches two future ready B.Tech courses
Lamrin tech Skills University Punjab has launched two future ready B.Tech courses. | Education News Key Points
Hindustan TimesTridhya tech IPO: GMP, subscription status on Day 2 and other issue details you need to know
Ahmedabad-based company Tridhya Tech's SME public subscription will end on July 5th. The company aims to raise ₹26.41 crore through the IPO. Key Points
mintMHT CET Counselling 2023 B.E, B.Tech registration process started
MHT CET Counselling 2023 B.E, B.Tech registration process started at cetcell.mahacet.org. | Competitive Exams Key Points
Hindustan TimesHumans at grave risk, 42 per cent CEOs believe AI can destroy humanity in 5-10 years
With the advancement of AI, top tech CEOs, including Twitter and Tesla head Elon Musk, are worried about artificial intelligence taking over humanity. The latest survey reveals 42 per cent of CEOs believe AI can take over mankind in the next few years. Key Points
India TodayEverything you need to know about moving to a tech role in a non-tech industry
Companies across all sectors are increasingly hiring professionals with technical expertise as technology takes center stage in business operations. There is a growing trend of non-tech companies hiring professionals with technology skills as they adopt new-age technologies. Through Great Learnings experiences with their learners, it was found that 47% of placed learners were from non-tech companies while 49% of companies that hired from Great Learning were also non-tech ones. Key Points
Economic Times
tech Mahindra Share Price Live blog for 02 Jun 2023
Tech Mahindra stock price went up today, 02 Jun 2023, by 0.29 %. The stock closed at 1117.75 per share. The stock is currently trading at 1120.95 per share. Investors should monitor tech Mahindra stock price closely in the coming days and weeks to see how it reacts to the news. Key Points
Mint81% of organisations witnessing a shortage of skilled tech workers, says EY and iMocha’s report
The demand for skilled tech workers has surged in recent times, not just in the field of information and technology, but across all industries. EY and iMocha's report reveals that 81% of companies have faced a shortage of 'power user or developer' tech skills, while only 19% had established a skill taxonomy. Key Points
Economic TimesKarnataka: Techies turn up in good numbers, vote in hope of brighter future for their city
Bengaluru, a prominent global tech hub, driving about a third of Indias software exports, is home to more than 3,500 IT companies and 79 tech parks. Techies from all over India have made the city their home. Far from being outsiders, many of them have enrolled as voters in the city. Key Points
Economic TimesIT stocks: Q4 worst since Covid days but dividend, buybacks can keep doomsday away
Indian IT companies have posted their worst results in 11 quarters, and stocks in tier-one tech firms have dropped up to 21% in the past three months. Weak demand for IT services is squeezing earnings, while there is little expectation of recovery in the first two quarters of the 2023 financial year, resulting in signs of a slowdown. As a result, BofA Securities, despite analysts being slightly overweight on the sector, has issued an underweight on Indian IT stocks with neutral ratings for Infosys and TCS, and predicting that Wipro and tech Mahindra will underperform. Key Points
Economic TimesED to tap lenders for info in Byju's probe; Pine Labs pauses IPO plan for now
The Enforcement Directorate (ED), days after probing premises linked to Byjus for alleged Foreign Exchange Management Act (FEMA) compliance issues, is planning to approach its lenders to seek more details on the edtech major's funding and loan transactions. This and more in todays ETtech Morning Dispatch. Key Points
Economic Times
Street gives thumbs up to HCL Tech's Q4 results. Why this IT firm is better placed than TCS, Infosys in FY24?
HCL tech posted 6.9% QoQ growth in Q4FY23 in BFSI verticals. On the contrary, Infosys saw a drop of 3.7% sequentially. However, TCS' BFSI business continued at a slower pace and witnessed a growth of merely 9.1% YoY cc. Key Points
minttech Mahindra shares fall over 7% in early trade. Here’s why
Tech Mahindra shares were down 5.17 per cent at Rs 1,030.65 apiece around 12:43 pm, in line with the broad-based weakness in IT stocks after weak earnings results by TCS and Infosys. Key Points
India TodayWhat’s driving mass layoffs in the tech sector globally?
The report said that almost half of those laid off belonged to the age group of 30-40 years and had an average work experience of 11.9 years. Key Points
Economic TimesAmid layoffs, this Indian IT company has announced 1000 job openings
While many companies are announcing multiple rounds of layoffs, there’s an Indian IT company that plans to hire more employees. Check out details. Key Points
India Today