Page 4 - Tech Firms

Nearly 200,000 tech employees fired globally in 2023; more layoffs expected

According to recent data from layoff.fyi, a layoff tracker website, 702 companies have laid off 199,047 employees in 2023 so far worldwide

Digital intelligence Israel-based firm Similarweb cuts another 6% of staff

In November last year, Similarweb laid off about 10 per cent of its team, around 130 employees, when it announced its results for the third quarter of 2022

Retail tech firm Ace Turtle raises Rs 293 cr from Vertex, others

Start-up will use the funds to recruit talent and for business growth

Non-Tech industries to hire over 1 mn tech talent by FY28: TeamLease report

The company has launched its report 'Digital People Supply Chain Report - Tech in Non-Tech' for H1-2024

Top 25 tech firms' valuation grows $2.4 trillion in 2023, shows report

Meta, Apple, Amazon, Microsoft, and Google (FAAMG) stocks contribute more than 60 per cent of the tech stocks with $7.7 trillion

KKR to invest in consumer retail, healthcare and tech firms, says Co-CEO

PE firm, which is sitting on a $100 billion cash pile, is also keen to participate in PSU bank privatisation

Indian space tech firm designs chip to track school buses, weapons systems

A Bengaluru-based space technology company has unveiled an indigenously designed NavIC chip which can use India's own navigation satellite system to provide positioning services that have applications in civilian and defence sectors. The 12-nanometre chip can be fitted into a mobile phone or any handheld device and can receive signals from the Navigation with Indian Constellation (NavIC) or the Indian Regional Navigation Satellite System (IRNSS), the Global Positioning System of the US and the GLONASS constellation of Russia. Designed by the IIT-Kharagpur incubated Elena Geo Systems, the chip was on Thursday presented to Chief of Defence Staff Gen Anil Chauhan in the presence of Samir V Kamat, chairman of the Defence Research and Development Organisation (DRDO), and Chief of Air Staff Air Chief Marshal VR Chaudhari. Elena Geo Systems has entered into an agreement with a Taiwan-based chip manufacturer to ensure a steady supply of the NavIC chip. "We directly control the factory. ...

Amid layoffs, tech firms exploit H-1B visa programme, finds EPI Study

"Most employers hire H-1B workers because they can be underpaid and are de facto indentured to the employer," the EPI research said.

US big tech Google, Amazon struggle to lay off employees in Europe

In Europe, mass layoffs have stalled because of labor protections that make it virtually impossible to dismiss people in some countries without prior consultations with employee interest groups

HLL Infra Tech Services reports 58% jump in profit to Rs 27.76 cr in FY23

HLL Infra Tech Services Ltd (HITES) has reported a 58 per cent jump in net profit to Rs 27.76 crore in 2022-23 compared to Rs 17.6 crore in FY22 on higher revenue from the infrastructure division, the Health Ministry said on Thursday. The total turnover of the central public sector undertaking under the Health Ministry jumped by 19 per cent to Rs 361.38 crores in 2022-23 against Rs 303.40 crores in 2021-22. These significantly positive results were achieved largely due to the infrastructure development business which saw the completion of the new All India Institute of Medical Sciences (AIIMS) at Bhatinda, Gorakhpur and Guwahati and upgradation of multiple projects during the last fiscal year, the ministry said in a statement. HLL Lifecare Limited (HLL) is a 50-year-old CPSE under the Ministry of Health and Family Welfare, the statement said. With the objective to specifically focus on the Construction and Procurement business in the healthcare sector, HITES was raised on 3rd April

Kerala-based tech company develops AI to help expecting and new parents

Kerala-based tech company, Totto, on Monday announced the launch of Cuddle, a service which uses Artificial Intelligence (AI) to provide support to expecting and new parents throughout pregnancy and parenting. The company said Cuddle will provide a comprehensive suite of services designed to address the unique needs of each parent, including prenatal care and nutrition, postpartum recovery, infant development, and more. "Cuddle is now available on WhatsApp, offering parents a convenient and reliable way to access personalized guidance and assistance from a team of experts," the company said in a release. Jofin Joseph, the CEO of Totto said parents face a range of challenges every day, but the options to seek trusted advice are minimal. Joseph said parents can ask questions and share their concerns with the AI. "Our AI Assistant -we call her Janani'-can understand the parent's needs and provide personalized recommendations and insights tailored to each parent's unique needs and ...

'We can't pay you more', small tech firms tell laid-off Big tech employees

As lakhs of Big Tech employees make a beeline to secure a job as soon as possible, smaller tech firms are hiring the talented laid-off workers albeit with a caveat: We can't pay you any more

575 small firms hiring employees laid off by tech giants, says report

India stood third in global tech-hiring geographies, with the US and the European Union taking the lead

HCLTech named Titanium member at Intel awards for second straight year

Indian firm gets US tech giant's highest level of recognition technical innovation in computer networks

HP launches creator-focused Envy x360 15 series laptops in India: Details

The four laptops in HP's Envy x360 15 portfolio are available at a starting price of Rs 82,999

Arvind Kejriwal asks Centre to take note of mass layoffs in tech firms

Expressing his concerns at the mass layoffs across several tech firms, Delhi Chief Minister Arvind Kejriwal on Monday asked the centre to assess the situation in the country and take right steps. Several multi nationals have retrenched in the recent past leading to job cuts in the US and other countries. "The youths are being retrenched in large numbers from the IT Sector. The Central government must review the Indian situation and take right steps," Kejriwal said in a Hindi tweet. Earlier this month, Microsoft CEO Satya Nadella said that the company will lay off 10,000 workers, about five per cent of its total workforce, terming it a hard choice the tech giant had to make to remain a "consequential company" amid global economic uncertainties. Microsoft is the latest firm after Facebook and Amazon to cut jobs as the bloodbath in the technology sector continues in 2023. Describing the current times as a period of "significant change," Indian-origin Nadella said customers who ramped

Microsoft Teams Rooms on Android gets new features with Update 3: Details

Microsoft Teams Rooms update for Android devices brings features like a 4K display support, touch awareness, and more. Below are the details

Intel launches 13th Gen desktop processor with 6GHz clock speeds at $699

Chip-maker Intel has launched its new 13th Gen Intel Core i9-13900KS desktop processor with 6GHz (gigahertz) clock speeds

HCLTech bags deal to modernise IT operations for US insurer State Farm

Some employees of the American company will transfer to HCLTech and continue providing services

HCL Tech reports revenue growth of 19.6%; announces Rs 10 dividend

HCL Q3 results: The company added 2,945 new employees during the quarter, and the closing headcount was 222,270. The attrition rate in Q3FY23 stood at 21.7%