AI IMPACT ON SALARY
Amid layoff season, this Bengaluru company is paying employees to quit and start their own business and return back if things don't work out
Amid layoffs and voluntary buyout offers at global tech companies, Bengaluru-based iD Fresh Food is encouraging employees to quit and start their own businesses. CEO Musthafa PC's entrepreneurship policy offers a partially paid sabbatical, mentorship, access to the company's business network and an option to return if their ventures fail.
These mid-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of over 25%, according to analyst
No doubt, the mood in the market has changed and the bulls seem to be back in a determined fashion. Don’t, however, expect the indices to keep climbing daily. There will be pauses. Also, though the things troubling the market have receded for now, they can still return. And these troubles are likely to be global rather than local.
China is the world's factory but still can't give jobs to youth: Sridhar Vembu says India has a problem that is about to get worse
China's position as the world's manufacturing powerhouse has not prevented a growing employment challenge among its educated youth. Despite its massive industrial base, advanced technology capabilities and a merchandise trade surplus of nearly $1.2 trillion, around 70% of unemployed people in the 20-24 age group reportedly hold university degrees. Zoho founder Sridhar Vembu has highlighted this contradiction, warning that India could face a similar problem.
AI gains fail to cool rising staff costs at Indian IT services firms
Although artificial intelligence (AI) and automation are changing the traditional labour-intensive model of IT services, they have yet to bring down employee costs for the country’s top six IT services companies—Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTM (formerly LTIMindtree).
Canva layoffs: Affected staffers to get 6 months’ pay, a MacBook, and $10,000 to start up
Canva has announced significant changes that will impact around 1,271 team members, driven by a downturn in revenue growth. To improve project management and empower decision-making, teams will be consolidated. From January, employees will need to work in the office two to three times a week. A support package will provide generous severance, healthcare benefits, and career assistance, alongside a grant program to help exiting employees pursue new career paths.
AI could wipe out $200 billion of IT services work by 2030: BCG
BCG’s Sreyssha George says Indian IT firms will have to rethink how they price work, hire freshers and pay AI talent, as clients move from paying for headcount to paying for outcomes.
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‘Facing ‘gerontonomia’, the West’s young opt for political extremes’
Tim Vlandas analyzes the influence of aging populations on electoral politics in advanced capitalist nations like Europe. Older voters display different policy preferences, emphasizing pensions over issues of younger demographics. Consequently, governments often allocate more resources to pension spending rather than investing in education and infrastructure. Young voters may become politically disenchanted, leading to radical shifts towards extreme parties.
AI can perform the work of 10 people, says Zoho’s Sridhar Vembu, warns of headcount impact
Sridhar Vembu, the visionary behind Zoho, raises alarms regarding the transformative role of AI on computer-related jobs. He posits that one AI-empowered individual might outperform several workers. While acknowledging impending job cuts, he is optimistic about fresh opportunities opening across different sectors. Vembu also points out the soaring costs tied to AI technologies, urging companies to pivot swiftly.
Bill Gates says next 20 years to be the most tumultuous in human history as Microsoft announces buyouts to 60,000 employees
Microsoft Layoffs: Bill Gates has warned that the next 20 years could be among the most tumultuous periods in human history as artificial intelligence and robots transform jobs and industries. The Microsoft co-founder believes AI could eventually create widespread abundance, but the transition may lead to job losses, economic uncertainty and a crisis of purpose for many workers. He has suggested shorter working hours, earlier retirement and selective AI adoption as possible ways to manage the disruption.
These large-, mid- and small-cap stocks can give more than 20% return in 1 year, according to analysts
There is really no doubt about what will happen in the short term. It is going to be tough. Trying to guess the exact day when things will improve is a waste of effort. But a frightened market is exactly when it helps to look the other way. Because markets go too far in both directions, not only the one that is hurting today.
Company townhall and results can tell 2 different tales; here's what to check if you are worried about your next hike or promotion
Keep manager’s reassurance and employer’s financials apart, says Devashish Chakravarty. Every three months, listed companies must disclose important events to the stock exchange and most of them explain their numbers to analysts. Long before you find an email from your HR, the company has already announced its hiring freeze or restructuring plans in its earnings call.
Planning a job switch? These sectors may see the biggest salary hikes in 2027
Salaries in India are projected to increase by 9.1% in 2027 after a 9% rise in 2026. Non-banking financial companies are expected to lead in salary growth with an increase of 10.1%. Employers face challenges in retaining talent amid rising attrition rates and the implementation of the Wage Code. AI skill demand is growing as companies adopt AI productivity tools at a significant pace.
Zoho skips pay hikes, cites raised AI costs and geopolitical backdrop
In a recent statement, Zoho's founder Sridhar Vembu announced that the company will not implement salary hikes for its employees. This decision stems from the soaring costs associated with artificial intelligence and notably increased server prices. Vembu also pointed to the current challenging geopolitical circumstances affecting their financial strategy. Despite a steady growth rate of approximately 12 percent, the prospect of layoffs looms as new revenue streams have diminished significantly.
AI crowds out fresh grads at Wall Street tech hubs in India
The landscape of entry-level employment for Indian graduates is shifting dramatically due to advancements in AI. As machines tackle more mundane tasks, the demand for conventional positions dwindles. This reality compels new graduates to acquire advanced skills for job acquisition. In response, universities are incorporating AI-focused programs to better equip students.
AI productivity gains reflecting in salaries would take another 12 months: Wipro’s Jasjit Kang
Wipro’s Jasjit Kang says broad productivity improvements remain elusive as the company looks for stronger AI, problem-solving and learning skills in new hires.
Cheating in hiring assessments takes an AI-turn
Cheating in recruitment assessments has dramatically increased, with 45% of tests flagged for integrity issues. AI-assisted methods have surged in use, transforming traditional cheating tactics into sophisticated techniques. Employers are now challenged to adapt their hiring processes to counteract these advanced cheating methods. Interview fraud is also rising, as candidates misrepresent their skills and identities. Continuous innovation in detection and verification is essential for maintaining recruitment integrity.
Dev Prabhakar Singh Tomar, grandson of Chambal 'baaghi', gets UPSC success: How after leaving his high-paying Netherlands job, he went on to secure Rank 629
Dev Prabhakar Singh Tomar secured All India Rank 629 in the UPSC Civil Services Examination 2025 after several setbacks. An IIT Ropar Electrical Engineering graduate, Tomar had worked in the Netherlands before quitting his job to prepare for UPSC. His journey took him through multiple failed attempts, a teaching job in Delhi and renewed preparation before finally clearing the examination.
New bounce in EPFO trampoline: How the wage ceiling revision will change things
Social security, like a trampoline, not only catches you but also enables you to bounce back. The system's core is to provide workers with a fund to draw from in times of emergency or at retirement, so that a temporary crisis doesn't become a lifelong hardship and trap them in debt.
ADB raised India’s FY27 growth forecast to 7%
The Asian Development Bank has raised its FY27 India growth forecast to 7% from 6.6%, citing strong public investment and resilience in services and electronics exports. The upgrade follows India’s stronger-than-expected 7.8% GDP growth in the June quarter, supported by investment, consumption, manufacturing and services.
Missed ITR deadline and TDS refund is due? Know how to claim your refund before it’s too late
Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing belated returns, potential fees, interest, and the crucial condonation process if even that window has passed. Understand the implications for carry-forward losses and deductions. Avoid common mistakes to ensure your refund is processed smoothly.
Trump says he will create 'AI Force' like Space Force, name AI czar; calls attack on AI latest 'Hoax'
US President Donald Trump said in a Truth Social post that he is forming an "AI Force", like the Space Force of his first term, and will soon announce an AI "Czar", as he called the "destruction" of AI the latest "Hoax" by the "Radical Left" Democrats.
Oracle begins new round of layoffs: Report
Per documents accessed by the publication, emails were sent to impacted employees across multiple departments. They were offered four week of base salary plus one week’s pay per year of employment.
India's retail credit market shifts to rural, GenZ borrowers via digital platforms
Younger consumers and rural households are driving India's retail credit market growth. These aspirational borrowers now account for most new credit originations. Digital platforms and alternative data are key to assessing these new customers. Lenders must adapt underwriting to understand diverse financial footprints. This shift promises wider credit access and financial inclusion for many.
Meta layoff made me rich: Ex-employee says he made more money after losing the job
Ex-Meta employee claimed on Blind that being laid off ultimately left them with more savings than they would have accumulated had they remained at the company. The employee said they secured another job before their termination period ended, allowing them to receive pay from both employers for about three months, along with an August stock vest, and invest around $30,000 of the additional income.
True Balance scores 100% of loan applications with AI, looks beyond credit bureaus to curb defaults
True Balance now uses AI for loan applications, retaining human review for some cases. This approach helps assess borrowers with limited credit histories effectively. The company has seen approval rates increase and defaults decrease significantly. Alternative data, like FASTag activity, supplements traditional credit scores for better profiles.
Semicon 2.0 takes shape; Zomato’s Hyderabad layoffs
The government has notified Semicon 2.0 to boost India’s semiconductor ecosystem. This and more in today's ETtech Top 5.
At just 16, he earns enough to pay his father Rs 2 lakh a month & has trained 5 lakh students: Who is this AI prodigy who has already met the UN chief?
Raul John Aju, a Class 12 student, has made a mark in the AI space by founding a startup focused on teaching artificial intelligence to learners worldwide. With more than 15 AI tools to his name, he has reportedly trained nearly five lakh learners globally. His meeting with United Nations Secretary-General António Guterres at an AI summit further highlights the growing recognition of his work.
AI & global uncertainty stand in the way of your big salary hike
India Inc is expected to offer an average salary hike of 9.2% in 2025, slightly lower than last year’s 9.3%, as companies adopt a cautious approach amid global geopolitical and economic challenges and AI advancements, according to Aon.
Netflix offers up to Rs 7.4 crores for AI management role amid industry concerns
Netflix is offering an annual salary of up to $900,000 for an AI manager to expand the company's use of machine learning and improve its content acquisition and personalised recommendations. The entertainment industry's increasing reliance on AI and algorithms has prompted concerns from Hollywood unions, such as actors' union Sag-Aftra, which has warned of the potential impact on creative freedom and livelihoods. While Netflix is committed to capitalising on AI, striking the right balance between technological advancements and preserving the interests of industry professionals will be essential for a sustainable and thriving entertainment industry.
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