HEADCOUNT
BPO jobs on a seesaw as bots call the shots
Voice AI is driving call centres even as hiring grows, but the shift towards complex tasks leaves freshers scrambling for a new career ladder.
Investors in other markets would be envious of India multiples: Rich Handler, chief executive of Jefferies
Jefferies CEO Rich Handler believes Indian equities remain reasonably valued despite the market correction and says easing long-term capital gains taxes could attract foreign investors. He sees opportunities in India's AI and data centre sectors, argues that global capital outflows reflect external pressures, and believes concerns about an AI bubble warrant a healthy pause rather than alarm.
Why Big Tech companies Microsoft, Google, Meta and others are opting for voluntary buyouts
In response to fluctuating market demands, Meta has rolled out voluntary exit packages in France aimed at workforce restructuring. This initiative is part of a broader trend as tech giants like Google and Microsoft implement similar measures globally to optimize costs. These packages offer employees the choice to depart with financial incentives and transition support, showcasing a more favorable approach compared to traditional layoffs amidst economic uncertainty.
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).
Indian GCCs set to add 35k jobs in 2027
ANSR expects these jobs – ranging from 30,000 to 35,000 - to be added by 160-175 new greenfield GCCs amid an increasing number of inquiries from US mid-sized companies. The caveat emptor: Experts say this interest is yet to translate into plans for large-scale relocation of jobs from the US.
US weekly jobless claims at 57-year lows amid low layoffs
Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 189,000 for the week ended October 31, the Labor Department said on Thursday. Economists polled by Reuters had forecast 196,000 claims for the latest week.
Google voluntary buyouts: What's the exit package, which teams qualify and how many employees are eligible after Microsoft's similar offer?
Google Voluntary Exit Programme Details: Google has expanded its voluntary buyout programme to selected employees in five countries. The offer comes as Microsoft rolls out a similar voluntary exit scheme covering around 60,000 employees. Here's a look at Google's severance package, eligible teams and the number of employees who could opt for the offer.
FICCI makes recommendations to FM ahead of Budget 2027-28, highlights LTCG exemption, TDS relief and faster tax appeals
FICCI has recommended the restoration of long-term capital gains tax exemption on listed shares in Budget 2027-28. The organization highlighted concerns regarding the withdrawal of foreign portfolio investments and the impact of capital gains tax. Additionally, it requested the government to implement lighter TDS rules and resolve backlog issues in tax appeals. FICCI emphasized the need for measures to provide certainty to investors over the long term.
Canva to cut about 22% of staff as growth slowdown triggers restructuring
Australian graphic design platform Canva Group said on Wednesday it would cut 1,271 jobs, or about 22% of its workforce, as part of a restructuring after growth slowed for the first time in a decade.
Happiest Minds Q2 Results: Profit rises 15% to Rs 62 crore; revenue up 12% to Rs 645 crore
Happiest Minds Technologies has seen a 15.12% rise in consolidated net profit for the September quarter FY27. Revenue from operations also increased by 12.5% compared to the previous year. The company announced an interim dividend of Rs 3.05 per equity share for the 2026-27 fiscal year. An exceptional charge was included in the quarter's results due to a proposed merger with ITC Infotech.
Coders out, VCs in: Investors bet billions on AI-first services
The AI-native services firms’ promise of high margins and rapid growth with fewer people has attracted the interest of VC firms. If Distyl AI raised $175 million at a $1.8 billion valuation a year ago, Wonderful raised $550 million at a $5 billion valuation in September.
HSBC to open Hong Kong AI Institute following Singapore launch
The AI unit will work with Hong Kong University of Science and Technology as its anchor academic partner, Elhedery said, though he did not disclose headcount details.
Banks report 10-50% gains in productivity, turnaround time and costs from AI-led initiatives
Several banks in India have implemented artificial intelligence initiatives that have increased productivity and efficiency significantly. Notably, Kotak Mahindra Bank has improved its handling of corporate servicing volumes by 20-30% with the same workforce. Axis Bank's AI solutions are enhancing customer experience and improving operational efficiency across its operations. HDFC Bank has reported a reduction in service delivery turnaround times by 30%, reflecting the impact of digitization.
Corporate offsites, incentive trips make a comeback as companies resume travel plans
Corporate offsites and incentive trips are witnessing a revival as companies resume travel plans. Businesses are now scheduling deferred trips alongside new programmes for enhanced team engagement. Popular destinations include both domestic locations like Goa and international options such as Japan and Thailand. Companies aim to create curated experiences that foster collaboration and learning among employees. The focus remains on building connections and strengthening team culture during these offsites.
Cognizant’s Q3 PAT jumps 128% to $627 million, revenue climbs 4.6%
Growth across its markets geographically and double-digit expansion in financial services as well as communications, media and technology boosted revenue by 4.6% YoY to $5.66 billion, meeting its own guidance range of $5.60-$5.68 billion. In constant currency, or excluding the impact of exchange rate fluctuations, revenue rose 4.8% from a year earlier and 3.3% sequentially.
US weekly unemployment claims hover near 57-year lows
Initial unemployment claims in the United States have decreased slightly to 194,000 for the week ending October 24. Labour market conditions continue to demonstrate resilience, remaining below 200,000 claims since mid-September. The ongoing conflict between the US and Israel, including Iran, has led to employer hesitancy regarding hiring increases. Additionally, continuing claims have dropped to 1.701 million, reflecting decreased overall unemployment.
Qualcomm job cuts in November: How many employees could lose their jobs and when will it be announced?
Qualcomm is set to implement further layoffs in November, as indicated by a memo from CEO Cristiano Amon. This decision, expected to impact 3% to 6% of the workforce in India and similar proportions worldwide, aims to boost performance and tackle unmet expectations. Amid challenges in the consumer electronics sector, the company is shifting focus towards expansion in data centers and AI technologies for stronger business diversification.
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.
87% of India CEOs confident of growth despite cyber, geopolitical risks: KPMG
Nearly 87% of Indian CEOs are confident about their companies' growth prospects in the next three years. They are increasing investments in cybersecurity to mitigate risks associated with growing threats. Attracting and retaining employees remains a major challenge along with skill gaps. Additionally, 66% of CEOs say sustainability is integrated into core strategies for future growth.
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