Latest news with #LateRatanTata
India.com
18 hours ago
- Business
- India.com
Bad news for employees of this company as it plans to sack 3500 workers, not Narayana Murthy's Infosys, Ratan Tata's TCS, IBM, name is...
Narayana Murthy, Late Ratan Tata and Azim Premji- File image (Left to right) In a massive development for global business and demand loss, Citigroup Inc. has announced its plan to cut around 3,500 jobs at its technology centres in Shanghai and Dalian, China by early Q4 2025. It has also announced that the job cuts are being done aimed at its global effort to simplify operations and improve risk and data management. Here are all the details you need to know about the recent step by Citigroup. 'Citi continues to pursue the establishment of a wholly owned securities and futures company in China,' Marc Luet, banking head of Japan, Asia North and Australia, was quoted as saying by a report by the Economic Times. Citi's broader strategy The downsizing move reportedly comes after Citi's broader strategy to reduce its reliance on IT contractors. The group is reportedly aiming to strengthen internal IT capabilities after regulatory scrutiny over data governance. The Economic Times report also says that Citi will only have around 2,000 staff in China after the tech job cuts, including a few hundred at the tech unit. Chinese Vice Premier meets Chair of Citigroup In a recent development for the Citigroup, Chinese Vice Premier He Lifeng met with Chair of Citigroup John Dugan and CEO of Carlyle Group Harvey Schwartz separately in Beijing. The Chinese VP said that China's economy has continued its notable rebound, while high-quality development efforts are resulting in solid progress, demonstrating strong resilience and great vitality, as per a report carried by Reuters. The Chinese Vice Premier added that China will continue to expand its high-level opening up to the outside world, offering broad space for the long-term and stable development of multinational companies. Dugan said that Citigroup Inc. is willing to deepen its presence in the Chinese market and will further enhance investment cooperation with China. (With inputs from agencies)
India.com
3 days ago
- Business
- India.com
India's only company in global technology companies list is…, not Narayana Murthy's Infosys, Ratan Tata's TCS, Wipro, name is….
Narayana Murthy, Late Ratan Tata, Azim Premji (Left to right) Mukesh Ambani's Reliance Industries has secured a spot as the sole Indian company in the top 30 publicly traded global technology firms, according to a comprehensive 340-page report titled 'Trends – Artificial Intelligence.' The report shows the rapid global adoption and transformative influence of AI technologies. The ranking is also based on market capitalization so it kept Reliance Industries among the world's tech leaders. The top eight positions are dominated by US giants like Microsoft, Nvidia, Apple, Amazon, Alphabet, Meta Platforms, Tesla, and Broadcom. Taiwan's TSMC is ranked 9th, followed by China's Tencent. Reliance, with a market capitalisation of USD 216 billion, is ranked 23rd, according to the list. 'Over the past 30 years (1995-2025), just five companies remained on the top 30 most highly valued publicly traded global technology companies – Microsoft, Oracle, Cisco, IBM and AT&T,' the report said. It went on to list Reliance alongside the likes of Nvidia, Apple, Amazon, Alphabet, Meta, Tesla, Alibaba, Salesforce and China Mobile as the new entrants. 'In 1995, the USA had 53 per cent (16 of 30) of the most valuable tech companies and 70 per cent (21 of 30) in 2025,' it said. In 1995, Japan had 30 per cent (9 of 30) of top tech companies and zero in 2025. The UK, Singapore, Hong Kong, Mexico and Malaysia had 1 each, but now none are on the list. 'In 2025, new geographic entrants include China with 3, Germany with 2, Taiwan with 1, Netherlands with 1, South Korea with 1 and India with 1,' it said. Taiwan has only one company on the list – TSMC – the company produces 80-90 per cent of the world's most advanced semiconductors and 62 per cent of global semiconductors. According to the report, India has the most number of ChatGPT mobile app users in the world. It accounts for 13.5 per cent of monthly active users of the artificial intelligence (AI)-powered chatbot developed by OpenAI. It is ahead of the USA (8.9 per cent), Indonesia (5.7 per cent) and Brazil (5.4 per cent). Pakistan has 3 per cent of users. India also accounts for 6.9 per cent of active global users of Chinese AI app DeepSeek, behind China (33.9 per cent) and Russia (9.2 per cent). 'Artificial intelligence is reshaping the modern landscape at breakneck speed. What began as research has scaled into emerging core infrastructure across industries – powering everything from customer support to software development, scientific discovery, education, and manufacturing,' the report said. AI, it said, is accelerating, touching more domains, and becoming more embedded in how work gets done. 'Catalysing this growth is the global availability of easy-to-use multimodal AI tools (like ChatGPT) on pervasive mobile devices, augmented by a steep decline in inference costs and an explosion in model availability. Both closed and open-source tools are now widely accessible and increasingly capable, enabling solo developers, startups, and enterprises alike to experiment and deploy with minimal friction,' it said. Whether through embedded intelligence in SaaS or agentic workflows in consumer apps, the interface layer is being rewritten in real time. On the computer side, investment continues to scale dramatically. Capital expenditures across major cloud providers, chipmakers, and hyperscalers have hit new highs, driven by the race to enable real-time, high-volume inference at scale. The investment is not just in chips, but also in new data centres, networking infrastructure, and energy systems to support growing demand. 'Whether this level of capital expenditure persists remains to be seen, but as AI moves closer to the edge – in vehicles, farms, labs, and homes – distinction between digital and physical infrastructure continues to blur,' the report said. (With Inputs From PTI)
India.com
28-05-2025
- Business
- India.com
Ratan Tata's TCS CEO earned Rs 260000000 salary, Azim Premji's Wipro, Narayana Murthy's Infosys CEO earns…, India's highest paid IT CEO is…
Narayana Murthy, Late Ratan Tata and Azim Premji- File image (Left to right) CEO and MD of TCS, K Krithivasan, earned Rs 26.52 crores in salary in FY25. It's hiked by around 4.6 percent from FY24, according to the company's annual report. This included a base salary of Rs 1.39 crore, Rs 2.12 crores in benefits, perquisites, and allowances, and Rs 23 crores in commissions. However in FY24, HCLTech's CEO, C. Vijayakumar, was the highest-paid Indian IT CEO who was earning Rs 84.16 crore. Infosys CEO Salil Parekh earned Rs. 66.25 crores in FY24. Wipro's newly appointed CEO Srini Pallia got a package of around Rs. 50 crores. TCS COO Salary In Q4FY25, TCS appointed Aarthi Subramanian as the chief operating officer (COO) after the retirement of NG Subramaniam (NGS). Subramanian will earn a basic salary of Rs. 10,80,000 per month, from May 1, 2025, with a maximum of Rs. 15,00,000 per month. NGS earlier earned Rs 11.55 crores in FY25, as compared to Rs 26.18 crores in full year FY24, which was also higher than Krithivasan's package. TCS Employee Hike The percentage increase in the median remuneration of employees in FY25 was 6.3 percent. 'The average annual increase was in the range of 4.5-7 percent, with top performers receiving double digit increment in India. However, during the course of the year, the total increase is in the range of 5.5-7.5 percent, after accounting for promotions and other event based compensation revisions,' the report stated, adding, 'Employees outside India received a wage increase varying from 1.5-6 percent.' 'The increase in remuneration is in line with the market trends in the respective countries. In order to ensure that remuneration reflects the Company's performance, the performance pay is also linked to organization performance and individual utilization in addition to individual performance,' the report explained.
India.com
15-05-2025
- Business
- India.com
Bad news for employees of this company as it sacks 100 employees for..., not Narayana Murthy's Infosys, Ratan Tata's TCS, Wipro, IBM, name is...
Narayana Murthy, Late Ratan Tata and Azim Premji- File image (Left to right) Bad news for Amazon employees: In massive development coming from Amazon and a matter of bad news for the IT sector employees across the world, Amazon, a global IT giant has reportedly laid off hundred employees within its Devices and Services division. As per the statement of the company quoted by a report covered by CNBC, the jobs within its Devices and Services division represented a small number of the total jobs in the unit and the reported layoff was a part of the regular business review of the company. Here are all the details you need to know about the recent news from Amazon. Amazon sacks employees in Devices and Services unit For a background information about the role that the Devices and Services unit is responsible for, readers should note that their role includes that of developing popular hardware products such as the Echo smart speakers, Fire TV devices, and Ring security systems. 'As part of our ongoing work to make our teams and programs operate more efficiently, and to better align with our product roadmap, we've made the difficult decision to eliminate a small number of roles,' Amazon spokesperson Kristy Schmidt was quoted as saying in her statement by Times of India. 'We don't make these decisions lightly, and we're committed to supporting affected employees through their transitions', the CEO added in her statement about the company. Amazon's cost-cutting plan Readers should also note that Amazon CEO Andy Jassy has been on a mission to cut costs across the company. In the process of the cost cut, the company has laid off 27,000 employees since the beginning of 2022, the CNBC report said. The reason for this massive wave of layoffs in the Information and Technology world is the economic down turns the companies across the world are facing at this point in time. Readers also note that an official statement specifying the recent layoff at Amazon has not been issued and an official confirmation is awaited.
India.com
11-05-2025
- Business
- India.com
Bad news for employees of this company as it sacks 10000 employees, not Narayana Murthy's Infosys, Ratan Tata's TCS, Wipro, IBM, name is...
Narayana Murthy, Late Ratan Tata and Azim Premji- File image (Left to right) Panasonic layoff update: In a significant update amid the Indo-Pakistan tensions, a global giant has declared a massive layoff affecting hundreds of employees. In the recent development, Japanese electronics giant Panasonic, which supplies batteries to Tesla announced layoffs of 10,000 employees across Japan and worldwide. Here are all the details you need to know about the recent Panasonic layoff move. The company has decided to layoff four percent of its employees working in the company, which is a massive numbers approximately 230,000 employees. The company has taken this decision keeping profit in mind. Reason behind massive layoff 'Layoffs are necessary to achieve better performance than other companies', Panasonic Holdings CEO Yuki Kusumi said in an interview with Japan's Nikkei newspaper in April. Panasonic reveals future plans The move is part of the company's management reform aimed at responding to the dramatic changes in the global business environment, as per a report carried by CCTV. In addition to workforce reductions, Panasonic also plans to withdraw or shut down loss-making businesses, and streamline and consolidate indirect functions, the report said. According to its fiscal 2024 earnings report released the same day, Panasonic reported a revenue of 8.46 trillion yen (about 54 billion U.S. dollars), down 0.5 percent from the previous fiscal year, while its net profit dropped 17.5 percent year on year to 366.2 billion yen (about 2.53 billion U.S. dollars). (With inputs from agencies)
