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Ola Electric is cutting 500 jobs across verticals and levels as part of a restructuring exercise, according to people aware of the development. The company, which has come under the scanner for its poor aftersales service recently, had started the job cut in the September quarter. "It has been going on for some time now, starting around July. It has been a gradual process of removing redundant roles across verticals and levels," said a source. The exercise is expected to be completed by the end of this month. Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the person added. Earlier this month, Central Consumer Protection Authority (CCPA) had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric. Last month, the company had said that out of 10,644 complaints received from CCPA, it has resolved 99.1 per cent of the complaints.

Ola Electric cuts 500 jobs across verticals

New Delhi: <keyword id="21530712" type="General" weightage="100" keywordseo="Ola-Founder-Bhavish-Aggarwal" source="keywords">Ola Founder Bhavish Aggarwal</keyword> is placing bold bets on new-age technologies with a view for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to be at the forefront of the current global <keyword id="22912054" type="General" weightage="20" keywordseo="tech-transition" source="keywords">tech transition</keyword> led by AI, and build <keyword id="22912488" type="General" weightage="20" keywordseo="jobs-of-the-future" source="keywords">jobs of the future</keyword> in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity <keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="83" meta.entityid="Ola">Ola</keyword> Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs as the world cannot achieve a sustainable future without India, he added. "There is a global technology transition happening and AI is a very important technology of the future, and we in India need to lead this journey. If you look at the current state, I think we are still adopters of somebody else's technology paradigms, especially in the digital world," Aggarwal said, explaining why the Ola group had set up AI start-up Krutrim last year. One of the things in Krutrim is to build AI models on Indian data, which is more attuned to Indian use cases, Indian paradigms, he said, adding, "We are making our own AI, on our own cloud, on our own chip." Despite India producing 20 per cent of the world's digital data at present, he lamented that the country does not fully own the data, as 80 per cent are stored outside, which are then processed into AI and "brought back into India and sold to us in dollars". When asked about concerns over AI leading to job losses, he allayed the apprehension saying that the IT boom created jobs in India when people feared that computers would take away jobs, and AI is a similar tool. "AI is not going to replace anyone. Maybe that future is a few decades away... We don't need to get anxious about that future right now. We need to, as a country, see that AI is going to amplify productivity. If we don't get onto the bandwagon, we will be left behind...," he asserted. In his view, Aggarwal said the way forward is for India to become experts in future technology. "Future technologies bring with it jobs of the future, supply chain of the future. And if we are global leaders, we are the fastest adoptive market of future technologies (then) jobs of the future will be built in India, supply chains of the future will be built in India. This is the only way... If we focus on protecting the past, you remain uncompetitive," he added. Sharing his take on employment generation in India, Aggarwal said, "I actually believe the private sector has to do the bulk of the job creation. The government's job is to create the enabling environment, create the fundamentals, help correct imbalances wherever they are, be it trade imbalances, etc and incentivise wherever it needs to be incentivised, like the PLI schemes." The government's steps such as the employment-linked incentives will also encourage private industry, he said, adding "But fundamentally the private sector has to step up and do more". Asked if the government is doing enough to create that ecosystem for the private sector, Aggarwal said, "I'm not in the government, so I want to put the limelight on ourselves. Is the private sector doing enough? I think we all can do more, and I'm on the same page. We all need to do more." In response to a query on his views over the government in extending the fiscal concession that companies like Tesla have been demanding from India, he said, "It is very important for India to attract all kinds of investment, especially (from) world leading companies. "Tesla is a best in class company. The more companies like these invest into India, the better it is for India, in a broad sense as well for the industry." He further said, "The (EV) ecosystem, including my company, will benefit from it, because it will raise the bar on expertise, on excellence, on talent, everything..." About the newly-listed entity Ola Electric, he said, "Our mission at Ola electric is to really make India a global EV hub." The company will build products such as electric two and three-wheelers that Indians need for the country to be able to invent an EV and energy transition paradigm for itself, different from the current global solution for sustainability that is focussed on electric luxury cars, Aggarwal added. On Ola Consumer, he said the ride-hailing mobility vertical is fairly profitable, while it is investing into the new e-commerce for which it has partnered with ONDC.

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

<ul><li><keyword id="618493" type="CITY" weightage="20" keywordseo="digital-marketing">Digital Marketing</keyword> is an evolution of marketing using internet and technology-based methods and <keyword id="50691" type="COMPANY" weightage="20" keywordseo="Digital">digital</keyword> channels.</li><li>Digital marketing is among the most in-demand jobs, globally and in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>.</li><li>Business Insider brings you various openings in marquee companies for digital marketing roles in metro cities.</li></ul>Digital marketing is among the most in-demand jobs, globally and in India. The major reason behind this is that digitisation is ever-evolving and every brand requires a specialist to cope with this growing technology. Digital Marketing is an evolution of marketing using internet and technology-based methods and digital channels. Business Insider brings you various openings in marquee companies for digital marketing roles in metro cities — 1. Boston Consulting Group The American management consulting company is scouting for a <a href="https://careers.bcg.com/job/13276BR/Specialist-Digital-Marketing?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">Digital Marketing Specialist</a> for its New Delhi office. Experience and qualifications — A minimum of 4-5 years of experience in digital marketing with excellent understanding of all digital marketing concepts. The candidates should have post graduation/graduation in mass communication or a relevant field. Day to day task — Develop social media strategies and provide creative ideas for content marketing to promote on digital channels. 2. Ola The Indian ridesharing company is hunting for a talented Digital Marketing Specialist for its Benagluru office. Experience and qualifications — At least 2-4 years of experience in campaign and budget management with high tech consumer growth startups. Day to day task — Create, manage and optimise campaigns across all digital channels including Google, Facebook, Instagram, YouTube, and others. 3. Myntra The Indian fashion e-commerce company is looking for a young professional <a href="https://boards.greenhouse.io/myntra/jobs/5436913002?gh_src=bb272d8c2&amp;s=LinkedIn&amp;source=LinkedIn">Digital Marketing Associate</a> in Bengaluru. Experience and qualifications — The candidate should have over 3 years of experience in search engine optimisation (SEO) with an MBA degree in any discipline from a Tier I/II institution. Day to day task — Conduct relevant SEO audits for ongoing optimisation and review the business's content on a regular basis to identify opportunities and points of improvement. 4. Hotstar The online streaming and video entertainment platform is hiring a qualified <a href="https://jobs.lever.co/hotstar/96a3caea-2938-4e3c-a37e-9a56d6b21882">Digital Marketing professional</a> in Mumbai. Experience and qualifications — 4-6 years of relevant experience with digital media with an MBA degree in any discipline. Day to day task — Manage all digital campaigns, from ideation to media planning to optimisation and performance analysis. 5. Amazon The multinational e-commerce giant is scouting for an innovative <a href="https://www.amazon.jobs/en/jobs/1652842/digital-marketing-specialist?cmpid=SPLICX0248M&amp;utm_source=linkedin.com&amp;utm_campaign=cxro&amp;utm_medium=social_media&amp;utm_content=job_posting&amp;ss=paid">Digital Marketer</a> in Karnataka. Experience and qualifications — The candidate should have over 3 years of marketing experience. The ideal candidate should be social media savvy and up to date with the latest emerging trends and tactics. Day to day task — Measure and report performance of all digital marketing campaigns and assesses against goals. 6. Tata Cliq The flagship digital commerce initiative by Tata Group is hiring a <a href="https://jobs.lever.co/tataunistore/9b04ce33-16bc-4dc3-a6bc-b9198225527e">Digital Marketing Manager</a> in Mumbai. Day to day task — The candidate will be responsible for identifying and executing campaigns across new channels for both brand and performance marketing. 7. Unacademy The Indian educational technology company is hunting for a <a href="https://apply.workable.com/unacademy/j/8037C6BBD1/">Digital Marketing Director</a> in Bengaluru. Experience and qualifications — Minimum 10 years of experience in performance marketing, with experience of leading a team. The candidate should be an MBA degree holder in marketing or any other relevant field. Day to day task — Create and implement a digital marketing strategy to drive awareness, traffic, leads and conversions. 8. <keyword id="7442680" type="UNKNOWN" weightage="20" keywordseo="warner-media">Warner Media</keyword> The American multinational mass media conglomerate is looking for a powerful portfolio of a <a href="https://warnermediacareers.com/global/en/job/WAMEGLOBAL185662BREXTERNALENGLOBAL/Manager-Digital-Marketing?utm_source=linkedin&amp;utm_medium=phenom-feeds">Digital Marketing Manager</a> in Mumbai. Experience and qualifications — 8-10 years of work experience in digital marketing with a postgraduate degree preferably in marketing communications or related field. Day to day task — Provide insight into what works for the India market for better optimising of social infrastructure. 9. Swiggy India’s online food ordering and delivery platform is looking for a highly motivated and talented <a href="https://careers.swiggy.com/#/careers?src=linkedin&amp;p=eyJwYWdlVHlwZSI6ImpkIiwiY3ZTb3VyY2UiOiJsaW5rZWRpbiIsInJlcUlkIjozMzIxLCJyZXF1ZXN0ZXIiOnsiaWQiOiJsaW5rZWRpbiIsImNvZGUiOm51bGwsIm5hbWUiOiIifX0%3D&amp;reqid=3321">Digital Marketing Specialist</a> in Bengaluru. Experience and qualifications — Minimum 3 years of experience in digital marketing with background in setting optimising performance-based campaigns across Google Ads, search marketing, Facebook ads, and programmatic advertising. Day to day task — The major responsibilities include planning, implementing, and monitoring of the digital marketing campaigns across all digital channels. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/bank-po-and-clerk-exams-these-are-a-few-tips-and-tricks-that-can-help-you-clear-them/articleshow/85230720.cms">Bank PO/clerk exams: These are a few tips and tricks that can help you clear them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/these-free-cryptocurrency-courses-offer-everything-you-need-to-know-about-diving-into-the-crypto-market/articleshow/85369694.cms">These free cryptocurrency courses offer everything you need to know about diving into the crypto market</a>

Digital marketing jobs: Ola, Swiggy, Warner Media and more are hiring across India

<ul><li>According to <a href="https://www.indiatoday.in/education-today/jobs-and-careers/story/career-outlook-for-data-scientists-in-india-sky-high-pay-and-rising-demand-1825991-2021-07-09">analysts</a>, India is the second largest hub for <keyword id="6357343" type="General" weightage="20" keywordseo="data-science" source="Orion">data science</keyword> and it is predicted that the country will have more than 11 million job openings by 2026.</li><li>The Great Learning report reveals that 57% of the hiring managers believed that the gap between supply and demand exists at the entry level.</li><li>Business Insider brings you several job openings in marquee companies for data scientist roles .</li></ul>Data science has been one of the most in-demand jobs especially in the last few years. However, 92% hiring managers witnessed a massive supply gap in data scientists in India, revealed a report by edtech platform Great Learning. According to <a href="https://www.indiatoday.in/education-today/jobs-and-careers/story/career-outlook-for-data-scientists-in-india-sky-high-pay-and-rising-demand-1825991-2021-07-09">analysts</a>, India is the second largest hub for data science and it is predicted that the country will have more than 11 million job openings by 2026. Analysts further reported that there were more than 93,000 jobs in data science that were vacant during August last year. The Great Learning report further reveals that 57% of the hiring managers believed that the gap between supply and demand exists at the entry level or fresher level while 27% of them believe that the talent gap exists in the mid-level roles of team lead and project management, which highlights the need to upskill both early stage and mid-career professionals with enterprise-specific use cases of data science. Business Insider brings you several job openings in marquee companies for data scientist roles — 1. IBM The American multinational technology company is looking for a full-time data scientist to join their New Delhi office. Eligibility — The candidate should have 5 plus years of experience in data engineering and data science and 2 plus years of consulting experience within specific industries with strong domain expertise and business acumen. PhD or masters in Science, Technology, Engineering, and Mathematics (STEM)-related fields with knowledge in quantum computing. Key responsibilities — Engage and educate client data science teams to define promising areas for quantum exploration. Collaborate with industry and solutioning experts to design and shape experiments to demonstrate quantum-enabled advantage. 2. Accenture The global technology services company is hiring a full-time Data Science Associate Manager for their Gurugram, Bengaluru and Kolkata office. Eligibility — Knowledge of statistical techniques and machine learning algorithms, and analysis tools like R, Python. Key responsibilities — Create insights from predictive statistical modeling, mathematical knowledge, tools, and techniques to solve complex problems and deliver value. Collaborate with Accenture teams to address business issues and influence change using strategy, industry, and analytical skills. 3. McKinsey and Company The management consulting firm is actively recruiting Data Scientist — Quantum Black for its Gurugram office. Eligibility — Masters degree or PhD level in the field of computer science, machine learning, applied statistics, mathematics. Experience in statistical modelling and machine learning techniques. Key responsibilities — Work on complex and extremely varied data sets from some of the world’s largest organisations to solve real world problems. Develop data science products and solutions for clients as well as for our data science team. 4. Gartner The technology research and consulting company is hiring an Associate Data Scientist for its Gurugram office. Eligibility — 1-3 years hands-on experience building machine learning models, natural language applications of artificial intelligence business capabilities. Bachelor's degree in a quantitative field (maths, statistics, computer science, engineering, etc.) required or master’s degree or PhD in the same field. Key responsibilities — Work on Data science projects in close collaboration with the data engineering team, product owners and business leaders to deliver high value business capabilities. Responsible for maintaining proper documentation and further code-reusability principles. 5. EY The multinational professional services company is scouting for data scientists with NLP for its Noida office. Eligibility — 4 plus years of experience in machine learning, statistical modeling, quantitative analysis, forecasting, data visualisation, recommendation engine etc., and 2 plus years of professional experience in software development in languages like Python, spark. Experience in data processing with Python, SQL and understanding of natural language processing concepts. Bachelor’s or master’s degree in math, statistics, information technology, computer science, economics, or a related field. Key responsibilities — Balancing excellent business communication skills with a deep analytical understanding is needed. Applying data Science, machine language algorithms, using standard statistical tools and techniques for solving client business problems. 6. Ola The multinational ridesharing company is looking for a data scientist for its Bengaluru office. Eligibility — PhD or master’s with over two years of relevant experience or bachelor’s in technology (B.Tech) with over four years of relevant experience in operations research, applied mathematics or statistics or econometrics, electrical or systems engineering, physics or similarly highly quantitative field. Key responsibilities — Building an intelligent system using techniques in machine learning, optimisation, signal analysis, and statistics. 7. Deloitte The multinational professional services company is hunting for a data scientist for its Mumbai office. Eligibility — At least 6-9 years of experience in descriptive and predictive analytics and over three years of experience in implementing and executing data science projects throughout the entire lifecycle. Bachelor’s or master’s degree in quantitative fields. Key responsibilities — Manage a portfolio of data science projects across various verticals. Oversee and improve machine learning (ML) models developed by the team &amp; identify scope for model improvements &amp; best practices. 8. Jio The Indian telecommunications company is actively recruiting data scientists for its Bengaluru and Hyderabad offices. Eligibility — 2 to 8 years of experience in development or research on artificial intelligence (AI) algorithms. B.Tech or M.Tech or PhD in computer science, AI/ML or related fields. 9. Tech Mahindra The Indian multinational information technology and business process outsourcing company is hiring data scientists for its Bangalore, Pune, Hyderabad, Chennai, Noida, and Mumbai offices. Eligibility — 3-12 years of experience in the relevant field. Expert level proficiency in at least one of the upcoming technologies like deep learning, NLP, Computer Vision, recommender systems. 10. PayPal The online payments giant company is scouting for a data scientist for its Bengaluru office. Eligibility — Over 3 years of relevant experience with graduation from a recognised university or over 2 years of relevant experience with a master's degree from a recognised university. Key responsibilities — Day-to-day duties include data analysis, monitoring and forecasting, creating the logic for and implementing risk rules and SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/federal-bank-is-offering-internships-for-fresh-graduates/articleshow/87151028.cms">Federal Bank is offering internships for fresh graduates — Check out stipend, incentives and other details</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms">Indian employees to get the biggest salary hikes amongst Asia-Pacific countries next year</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-employees-to-get-the-biggest-salary-hikes-amongst-asia-pacific-countries-next-year/slidelist/87158215.cms"></a>

Jio, Ola, Accenture, IBM and more are looking for data scientists across India

Ride-hailing major <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> on Monday clarified that nearly 200 engineers, including some in the software vertical, have been asked to go from its 2,000-strong engineer workforce -- 10 per cent of the headcount -- as part of a larger restructuring exercise towards its electric dream. The company denied sacking 500 employees, adding that it is "centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions". CNBC first reported that nearly 500 employees are being laid off from the various software verticals of <keyword id="21936" type="General" weightage="50" keywordseo="ani" source="Orion">ANI</keyword> technologies which operates as <keyword id="6362049" type="General" weightage="50" keywordseo="ola-cabs" source="Orion">Ola Cabs</keyword>. "The company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months," said the ride-hailing company. The Bhavish Aggarwal-run company has nearly 1,100 employees in its core ride-hailing business. Earlier restructuring exercises impacted employees across product, marketing, sales, supply, tech, business, and operations verticals at the company, affecting nearly 500 employees that "were a result of restructuring in the Cars and Dash businesses". The ride-hailing major recently shut down its used vehicle business <keyword id="3295694" type="General" weightage="50" keywordseo="ola-cars" source="Orion">Ola Cars</keyword>, as well as its quick-commerce business, <keyword id="13052888" type="General" weightage="50" keywordseo="ola-dash" source="Orion">Ola Dash</keyword>, as the company shifted focus on its electric two-wheeler and car verticals. Ola said it plans to hire 5,000 engineers as it doubles down on new engineering verticals and strengthens capabilities across vehicle, cell, battery, manufacturing and autonomous streams. However, <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola Electric</keyword>'s sales are diminishing and it sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July. More than half a dozen senior executives have quit Ola Electric in recent months while over 30 senior executives have left Ola in the past two years. Recently, Ola Electric's head of advanced battery engineering, Ashok Saraswat, moved on. Saraswat, who joined SoftBank-backed Ola last year, is reportedly joining a company that is entering the battery business. As EV two-wheeler sales drop amid battery fire fears, Okinawa Autotech, PureEV and Ola Electric recalled 6,656 vehicles after the battery explosion incidents increased in the country. The government has said it is extra vigilant about the safety standards of EVs and experts are on the job. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ev-battery-can-charge-in-three-minutes-a-harvard-backed-company-claimed/articleshow/94295446.cms">Harvard-backed company makes an EV battery that fully charges in three minutes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ola-laying-off-500-employees-from-its-software-verticals-report/articleshow/94294728.cms">Ola laying off 500 employees from its software verticals: Report</a>

Laying off 200 engineers to 'centralise' operations, clarifies Ola

<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

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Ola Electric cuts 500 jobs across verticals

PTI

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

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Digital marketing jobs: Ola, Swiggy, Warner Media and more are hiring across India

Vaamanaa Sethi

Jio, Ola, Accenture, IBM and more are looking for data scientists across India

Vaamanaa Sethi

Laying off 200 engineers to 'centralise' operations, clarifies Ola

IANS

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

Anagh Pal

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