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<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

<ul><li><keyword id="19897758" type="General" weightage="100" keywordseo="samsung" source="keywords">Samsung</keyword> will lay off over 200 people in India</li><li>Employees across various departments will be affected</li><li>Affected employees will receive three months of salary</li></ul> The tech industry has seen a wave of layoffs in the recent months and another company has now joined the fray. <keyword id="19945681" type="General" weightage="20" keywordseo="samsung-electronics" source="keywords">Samsung Electronics</keyword>, known across the world for its smartphones, appliances, and much more, has now decided to cut more than 200 jobs in India. The layoffs come at a time when the company is grappling with lesser sales due to lower consumer demand, a report in ET reveals. <h2>Samsung plans to lay off people in India </h2> Industry insiders told ET that the layoffs will affect various departments including mobile phones, home appliances, and consumer electronics. The cuts are part of Samsung’s broader effort to lower costs and maintain profitability during this challenging period. The layoffs represent around 9-10 percent of Samsung’s managerial staff in India, where the company employs about 2,000 executives. Those affected will receive three months’ salary along with a severance package offering one month’s salary for every year of service. <h2>Samsung's restructuring plans </h2> As part of its cost-cutting measures, Samsung is also considering merging some of its business divisions, such as television and home appliances. This restructuring, which aims to streamline operations and reduce inefficiencies, could lead to further layoffs. While no official decision has been made yet, reports suggest that the final plan will be confirmed after Diwali, a key festival season in India. The report also mentioned that Samsung has already frozen new hires, and positions left vacant by executives who have resigned are not being filled. Additionally, the company is expected to reduce the number of off-roll employees to further cut costs. <div type="Article" hostid="261" msid="112853351" title="Samsung launches AI-powered washing machines, all you need to know" mstype="2" mssubtype="0"><payload><![CDATA[See also]]></payload></div> <div type="Article" hostid="261" msid="112165411" title="India&amp;#39;s smartphone shipments dip 2% in Q2 2024 as heatwave, slower demand takes toll" mstype="2" mssubtype="0"><payload><![CDATA[See also]]></payload></div>

Samsung Electronics plans to lay off over 200 Indian employees to reduce costs, details inside

The state of the job market has been worrisome for people across the country ever since companies started carrying out large scale layoffs. In 2022, Twitter (now called X) laid off thousands of employees and eventually, companies like Meta, Google, Amazon, Microsoft and so on also began handing the pink slip to employees. Thousands of people took to social media platforms to share their ordeals. While some have successfully moved on to new roles now, many are still searching for opportunities, elevating competition in the job market. However, the situation isn't so grim everywhere. <keyword id="78512" type="General" weightage="100" keywordseo="iim-calcutta" source="Orion">IIM Calcutta</keyword> students bagged offers worth nearly 2 lakh per month for their summer internship programme. Curious? Read on to know more. The 61st batch of IIM Calcutta's flagship MBA programme saw all 475 students secure internships during the recent placement season. The numbers also speak volumes: a staggering median stipend of ₹2 lakh per month, a record-breaking achievement, and an average of ₹1.89 lakh that closely follows. And it doesn’t stop there—the highest domestic offer came in at ₹3.67 lakh, while international placements soared with top offers of ₹6.75 lakh per month. For many, this success story from IIM Calcutta is a reminder that when it comes to premium talent, there’s always a demand, even when the world feels uncertain. Professor Ritu Mehta, Chairperson of Placement Activities at IIM Calcutta, said as per a report in ET, "The outcome of the <keyword id="23806452" type="General" weightage="20" keywordseo="summer-internship-offers" source="keywords">summer internship offers</keyword> has yet again demonstrated the future readiness of our students in a highly competitive landscape. Globally, there is an ongoing recalibration of managerial jobs and pullback of job postings, hence we are very grateful to our recruiters to repose their trust in our students and our academic processes." Meanwhile, IIM Calcutta said, "The cluster-cohort placement process that involved various policies such as ‘dream offer’ enabled recruiters to find a better student-recruiter fit, making the overall process a win-win for both recruiters and students." For the unversed, IIM Calcutta, established in 1961 as the first Indian Institute of Management, is one of the most prestigious business schools in India and is globally renowned for its academic excellence. Known for its rigorous MBA programme, it has built a reputation for producing leaders equipped with strong analytical and strategic thinking skills. The institute has consistently attracted top-tier recruiters across various industries, and people across the industry keep a close eye during its placement season.

₹1.89 lakh per month for summer internship! Freshers at this institute bag bumper monthly stipend

<ul><li>The <keyword id="149163" type="General" weightage="80" keywordseo="walt-disney-company" source="Orion">Walt Disney Company</keyword>'s flagship streaming service Disney+ lost four million subscribers in its second quarter that ended April 1.</li><li>In its Q2 2023, the company reported 157.8 million subscribers, compared to 161.8 million in the previous quarter.</li></ul>New Delhi, Entertainment giant The Walt Disney Company's flagship streaming service Disney+ lost four million subscribers in its second quarter that ended April 1, as the company approached its third round of layoffs. In its Q2 2023, the company reported 157.8 million subscribers, compared to 161.8 million in the previous quarter. The key reason behind the decline was Disney+Hotstar, which lost 8 per cent of its subscriber base -- from 57.5 million in Q1 2023 to 52.9 million in Q2. "Disney+Hotstar average monthly revenue per paid subscriber decreased from $0.74 to $0.59 due to lower per-subscriber advertising revenue," the company said in a statement. The drop in the Indian subscribers is mainly because the platform did not retain streaming rights for the Indian Premier Cricket (IPL) League. Overall for the company, the revenues for the quarter and six months grew 13 per cent and 10 per cent, respectively. "We're pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we've been making throughout the company to realign Disney for sustained growth and success," said <keyword id="249798" type="General" weightage="80" keywordseo="robert-iger" source="Orion">Robert Iger</keyword>, CEO, The Walt Disney Company. Disney plans to reduce its workforce by 7,000 jobs as part of a larger reorganisation that will see the company cut $5.5 billion in costs. The fresh round of job cuts is likely to affect <keyword id="2774035" type="General" weightage="50" keywordseo="disney-entertainment" source="Orion">Disney Entertainment</keyword> and ESPN, as well as <keyword id="745727" type="General" weightage="80" keywordseo="disney-parks" source="Orion">Disney Parks</keyword>, Experiences and Products. "I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide and I am mindful of the personal impact of these changes," Iger had said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-launches-passkeys-for-hassle-free-login-to-gmail-and-youtube-without-a-password-heres-how-to-set-them-up/articleshow/99977103.cms">Google launches Passkeys for hassle-free login to Gmail and YouTube without a password - here's how to set them up</a> <a href="https://www.businessinsider.in/tech/news/apples-safari-is-the-worlds-second-most-used-and-least-vulnerable-desktop-web-browser/articleshow/99926825.cms">Apple’s Safari is the world’s second-most-used and least vulnerable desktop web browser, yet only 1% of Indians use it</a>

Disney+ loses 4 mn subscribers as fresh layoff round approaches

New Delhi, Even as tech giant <keyword id="6355629" type="General" weightage="100" keywordseo="google" source="Orion">Google</keyword> continues to cut down staff, a sacked Indian employee stated that the layoffs are not based on performance. In a LinkedIn post, Google India employee Animesh Swain stated that pink slips were also served to employees with highest ratings. The list also has names who were recently awarded promotions. "The people who managed to stay (including me) are not necessarily better than those laid off," Swain was quoted as saying in the post. Another employee Gurugram-based Aakriti Walia, working as a Google Cloud programme manager, was laid off just 10 minutes before a meeting. "The 'access denied' message on my system left me numb as I was preparing for my meeting just 10 mins away," Walia posted on the professional networking platform. "As I celebrated my 5-year Googleversary just a few days ago, little did I know it would be my last," she said. Earlier, Jennifer Vaden Barth, a creative Strategist at Google, said that the "layoff impacted very talented and highly rated professionals". Barth, who had worked at Google for 15 years said that "layoffs hit women particularly hard, especially women over 40". Meanwhile, in a bid to further cut costs, Google has even asked employees who return to work to share their work desks with a "partner" to maximise office space. Google India has recently terminated more than 400 employees. The layoffs at Google India were part of the larger job cuts that impacted 12,000 workers globally at the company. Denying that the layoffs were done "randomly", Alphabet and Google CEO Sundar Pichai had said earlier that he is "deeply sorry" for reducing the workforce. In an email to employees, Pichai said he takes "full responsibility for the decisions that led us here". The layoffs at Google's parent company were expected amid the deepening funding winter that has hit companies of all sizes in the global slowdown and recession fears. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oppos-new-flexion-hinge-has-made-flip-phones-more-practical-and-crease-minimal/articleshow/98213979.cms">Oppo’s new Flexion hinge has made flip phones more practical and crease minimal</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambanis-jiocinema-to-take-on-disney-hotstar-and-amazon-prime-with-free-4k-ipl-streaming/articleshow/98150380.cms">Mukesh Ambani’s JioCinema to take on Disney+ Hotstar, and Amazon Prime with free 4K IPL streaming</a>

Google layoffs not based on performance: Sacked Indian employee

<keyword id="399907" type="General" weightage="50" keywordseo="meta" source="Orion">Meta</keyword>, the parent company of Facebook, has announced that it was laying off about 11,000 employees, or 13 per cent of its global workforce. It's the first mass redundancy exercise for the 18-year-old social media behemoth. Its Asia-Pacific headquarters in <keyword id="6356662" type="General" weightage="100" keywordseo="singapore" source="Orion">Singapore</keyword> was not spared. Media reports speculated that out of the estimated 1,000 employees here, perhaps up to 100, have been affected, majority of whom are tech workers including software engineers. Based on 2021 Singapore Ministry of Manpower figures, about a quarter of the 177,100 employment pass holders or around 45,000, are from India. Employment pass holders are the highest qualified foreign professionals that are allowed to work in the country and must earn at least SGD 5,000 (USD 3,700) per month. No doubt many of these are impacted by not only Meta's layoffs but also other redundancies happening in the tech sector. Technology companies around the world and in Singapore, a major tech hub where many of the tech giants host their regional headquarters, are freezing hiring or downsizing in the face of sluggish consumer spending, higher interest rates and inflation. Singapore-based gaming and ecommerce powerhouse Sea Limited, the parent company of Garena, (publisher of games like League of Legends and Free Fire), and Shopee, made two rounds of cuts in June and September and rescinded job offers. Sea had 67,300 employees as at the end of 2021, double its headcount the year before, according to the company's most recent annual report. Following a net loss of USD931 million in the second quarter of this year, and amidst mounting cost of borrowing and a slowing global economy, the company scaled back its overseas footprint and periphery businesses with the aim to boost profitability by consolidating its position in its key markets and core products. The company did not reveal the number of job cuts but the job losses in Singapore and in its offices around the world is estimated to be in the hundreds. "Last year, a lot of what happened was a lot of cheap capital in the market flooded the market (which) allowed companies to grow really at any cost," said <keyword id="15509891" type="General" weightage="50" keywordseo="jessica-huang-pouleur" source="Orion">Jessica Huang Pouleur</keyword>, a partner at venture capital firm Openspace, to CNBC in June. "What happened was people hired very rapidly. You have a problem; you just throw people at it. I think we'll likely see more of it to come over the course of the next few months." Among the Southeast Asian companies that downsized in the middle of the year are Singapore-based digital wealth manager, StashAway which laid off 31 employees, or 14 per cent of its headcount, and currency exchange Crypto.com which let go 260, or 5 per cent of its workforce in Singapore. Meanwhile, Malaysian online shopping platform iPrice also retrenched 250 workers or 25 per cent of its employees, and Indonesian education tech company Zenius made more than 200 employees redundant. In November, digital payments startup <keyword id="944108" type="General" weightage="50" keywordseo="stripe" source="Orion">Stripe</keyword> and social media network Twitter were among the companies that reduce jobs in their Singapore offices. On November 3, Stripe announced said it would cut its global workforce by 1,000 or 14 per cent. After the job cuts, Stripe will have about 7,000 employees. Some Singapore-based jobs were impacted. A day later, Twitter chopped off half its global headcount or about 3,700 employees a week after Elon Musk's takeover. Those in the Singapore office were also affected. Singapore's Straits Times reported that the among those impacted were staff from its engineering, sales and marketing teams. Startups in the region were particularly badly affected due to a fall in venture capital funding levels this year. According to a Crunchbase report, funding in the region dropped by 7 per cent in the first quarter of 2022 to USD36.3 billion compared to the same quarter last year. Many tech companies expanded rapidly during the COVID pandemic as much of the world stayed at home and formed habits which created a spike in demand for online services. As consumer behaviour began to normalise after the lockdowns, some of these habits have shifted. This coupled with inflation and rising interest rates has put a squeeze on all tech companies. Some call the recent fall in share prices of big tech companies an overdue correction. While revenue and jobs in the tech will be impacted in the short-term, and market volatility is likely in the near future, the tech industry is expected to continue to grow in the long-term. A recent article published by consulting and recruitment specialist Mercer says that the demand for tech jobs and talent continues to outstrip supply in Asia. The evidence Mercer claims is in the starting salaries for graduates with a computing degree. Comparing Mercer's data from 2018 and factoring the time it generally takes for one cohort in most locations to complete an average degree course; there has been significant growth, primarily driven by massive hiring in emerging tech markets such as Vietnam (59 per cent increase) as well as lower-tier cities in China (22 per cent increase). Furthermore, economies across Asia are becoming more digital. According to research from Google, Temasek Holdings and Bain &amp; Co., the internet economy in Southeast Asia is projected to double to USD363 billion by 2025, surpassing the previous forecast of USD300 billion. The tech industry always goes through "periods of major adjustments and corrections", such as the "dotcom bubble" in the mid-1990s to early 2000s, said Dr Natalie Pang to Channel NewsAsia. Dr Pang is the principal investigator at the Centre for Trusted Internet and Community at the <keyword id="87108" type="General" weightage="50" keywordseo="national-university-of-singapore" source="Orion">National University of Singapore</keyword>. "Widespread adoption of tech at work and at home drove significant growth for the industry during the last two years of the pandemic, but the post-pandemic era has highlighted the need to adjust and correct," she added. "In the case of the recent layoffs, I would say that tech is in a major period of adjustment." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indices-open-flat-as-investors-await-october-inflation-data/articleshow/95500085.cms">Indices open flat as investors await October inflation data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/cloud-lending-platform-lentra-raises-60-million-will-use-funds-for-product-strengthening-and-global-expansion/articleshow/95499744.cms">Cloud lending platform Lentra raises $60 million, will use funds for product strengthening and global expansion</a>

How Singapore tech layoffs are impacting Indians

E-commerce startup <keyword id="1249046" type="General" weightage="100" keywordseo="dukaan" source="Orion">Dukaan</keyword> has replaced 90 per cent of its customer support team with an artificial intelligence (AI) chatbot, founder and CEO Suumit <keyword id="1858" type="General" weightage="80" keywordseo="shah" source="Orion">Shah</keyword> informed on Tuesday. Attributing the decision to prioritising profitability, he said customer support costs reduced by 85 per cent while resolution time went down from over two hours to three minutes. "We had to lay off 90 per cent of our support team because of this AI chatbot. Tough? Yes. Necessary? Absolutely," Shah tweeted. Several Twitter users criticised the tweet, deeming it insensitive. "Given the state of economy, startups are prioritising "profitability" over striving to become "unicorns", and so are we," Shah added. He explained in detail about Lina, the AI assistant which he claimed, replaces generic and delayed responses, as well as limited availability of resources and poor communication. After 12 tweets, Shah said that the company is hiring for multiple roles. When asked by a Twitter user about the assistance provided to the laid off staff, he asked them to look out for his LinkedIn post, reiterating that it was a tough decision. "As expected, 'someone' will get offended on behalf of 'someone else', so I had this reply ready: Assistance ke bare mein jab Linkedin pe post karunga tab dekh lena mere dost, yahaan Twitter pe log "profitability" dekhte hai "sympathy" nahi", Shah tweeted. "Laying off is never a pleasant experience, why is the need to proclaim and be proud about it," a Twitter user wrote. The announcement comes after Union Minister of State for Electronics and IT Rajeev Chandrasekhar deemed any concerns about AI threatening jobs as "nonsense". SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oppo-reno-10-pro-plus-vs-oneplus-11-mobile-comparison-of-price-and-features/slidelist/101664468.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oppo-reno-10-pro-plus-vs-oneplus-11-mobile-comparison-of-price-and-features/slidelist/101664468.cms" target="_blank">Oppo Reno 10 Pro Plus vs OnePlus 11 – Which flagship phone wins the battle</a><a href="https://www.businessinsider.in/india/news/as-north-indian-states-battle-severe-monsoon-parts-of-maharashtra-see-water-shortage/slidelist/101660130.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/as-north-indian-states-battle-severe-monsoon-parts-of-maharashtra-see-water-shortage/slidelist/101660130.cms" target="_blank">As North Indian states battle severe monsoon, parts of Maharashtra see water shortage</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch July-end</a>

Dukaan lays off 90% staff for AI bot, attributes decision to focus on profitability

About seven in 10 (71 per cent) professionals in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> are confident about keeping their jobs in 2023 despite the rough macroeconomic conditions and global layoffs, a report showed on Monday. There is a stark difference in the confidence levels of freshers and entry-level professionals and the ones with more than six years of experience. While 63 per cent of professionals with 0-3 years of experience are confident about retaining their job, this number jumps up to 83 per cent for professionals with more than six years of experience, according to the report by edtech company <keyword id="6559242" type="General" weightage="80" keywordseo="great-learning" source="Orion">Great Learning</keyword>. "With a tighter job market in 2023, skill development will be as critical as ever. The increase in intent to upskill in 2023 among professionals is expected given how rapidly technology and business practices are evolving," said <keyword id="7634970" type="General" weightage="80" keywordseo="hari-krishnan-nair" source="Orion">Hari Krishnan Nair</keyword>, Co-Founder of Great Learning. In 2022, 79 per cent of professionals were planning to upskill, while in 2023, that number has risen to 83 per cent. The highest proportion of the workforce, who plan to upskill, are from <keyword id="16486077" type="General" weightage="20" keywordseo="it/tech" source="Orion">IT/Tech</keyword> and <keyword id="6356925" type="General" weightage="80" keywordseo="bfsi" source="Orion">BFSI</keyword> sectors, followed by education/training, manufacturing, and the automobile industry. Indians are primarily looking to upskill in software development, data science and analytics, <keyword id="50691" type="General" weightage="80" keywordseo="digital" source="Orion">digital</keyword> marketing, management, and <keyword id="7161942" type="General" weightage="20" keywordseo="ai/ml" source="Orion">AI/ML</keyword> domains, said the report. "In 2023, the primary motivation for Indians to upskill is career growth within their current organisation. This is followed by personal interest and the expectation of new job opportunities as a result of upgraded skills," it added. In general, more male professionals enrolled in upskilling programs in 2022, but the gap in representation becomes more pronounced at higher levels of work experience. This is even lower than the general industry trend for female representation at senior positions, the report mentioned. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/world-radio-day-just-tune-in-radios-charm-persists-on-simplicity-accessibility/articleshow/97857807.cms">World Radio Day: Just tune in, radio's charm persists on simplicity, accessibility</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-group-stock-prices-fall-on-monday-after-moodys-cuts-outlook/articleshow/97855581.cms">Adani Group stocks battered on Monday after Moody’s cuts outlook for four companies</a>

71% Indian professionals confident to retain jobs in 2023 despite global layoffs

<ul class="summary-list"><li>Nadia Said is a 25-year-old IT project manager at a Fortune 100 tech company.</li><li>She grew up believing a job provides financial security but is risking it to take an adult gap year.</li></ul>This as-told-to essay is based on a conversation and emails with Nadia Said, a 25-year-old IT project manager at a major tech company where she started working full-time in 2020.Said has been working from Asia since May but plans to quit in September to go on an adult gap year, also known as <a target="_blank" class="" href="https://www.businessinsider.com/how-plan-save-job-career-break-mental-health-2023-9">a career break</a>. Said did not want to disclose the name of her company for privacy reasons, but her employment has been verified by Business Insider.The following essay has been edited for length and clarity.I come from a big family. My parents are both Indian immigrants.The message that I got when I was younger, seeing my parents go through what they went through, is that a job can provide you that stability you need to pursue your other passions.When I was in my second year at Temple University, I got the opportunity to work at my company as an intern.<div type="image" title="IT project manager Nadia, wearing a long-sleeved top and smiling." height="960" width="1280" msid="112746140" hostid="261" sizebytes="78998"></div>I was juggling working with a full-time student workload in a challenging degree. I graduated in December 2019 and was able to get a full-time job offer.<h2 id="970e8426-48d3-446b-93bb-a27aa4273250">My workload kept piling up in an industry that wasn't as stable as I thought</h2>I joined in 2020. A few months later, <a target="_blank" class="" href="https://www.businessinsider.com/great-resignation-what-to-know-who-is-quitting-2021-9">the Great Resignation</a> took place. I saw a lot of my teammates quit, transfer, and move on.I went from being this fresh grad trying to get as much experience as possible to helping with this increasing workload — with fewer people.I was consistently handed really challenging projects. It seemed like if I couldn't deliver, there was no one else. Everyone else was stretched thin, and there was no new hiring at this time.In late 2022, the company announced it was going to be doing layoffs.<div type="image" title="Members of the Alphabet Workers Union (CWA) hold a rally outside the Google office in New York in response to layoffs in February 2023." height="852" width="1280" msid="112746142" hostid="261" sizebytes="73194"></div>At that time, a lot of companies were starting to <a target="_blank" class="" href="https://www.businessinsider.com/layoffs-sweeping-us-these-are-companies-making-cuts-2024">announce layoffs</a> — all the big ones, Microsoft, Google, Amazon, everyone.For someone who went into this field because of the job security, it seemed like, "OK, it's not as secure as I thought." I was talking to a friend who was working at a tech company. She told me, "If they lay me off, it's fine. I'll just take my savings and travel to Asia until I figure out what's next for me."I was like, "Oh my God, you can do that? You can just decide to take a year off?"<h2 id="fa1e88fa-521f-4786-b52a-38982138a13f">I've budgeted $15,000 for my year off in Asia</h2>Later that year, I took 10 days off, and I traveled to South Korea.Coming back from that trip and seeing the impending layoffs, and also being fairly burned out from working five years straight at this really high-tech company, I started to put my plans in motion.I am preparing to take an adult gap year in September. It took about a year of planning. I wanted to be sure of my decision. I wanted to make sure I had enough in savings. I budgeted $15,000 to spend on the year.It helped that I was moving to Asia. With the currency exchange and everything, it is more reasonable for me, versus if I took a year off and traveled through Europe or even the States.I would love to spend time in India and reconnect with my culture.Working so far away in the States, I haven't been able to visit since I was a kid. It's really exciting for me that I might be able to spend months there.<div type="image" title="Nadia Said wears a purple saari and coordinating jewelry." height="1280" width="960" msid="112746294" hostid="261" sizebytes="75046"></div>I want to spend the time developing a good health routine for myself.I also want to spend some time <a target="_blank" class="" href="https://www.businessinsider.com/how-companies-are-teaching-workers-ai-skills-2024-4">upskilling</a> — tech is moving so fast that I need to try to keep up as much as possible. I also want to spend time on simple things, like reading books and meeting new people.I also want to preserve my mental health.I know that if I keep going in the long run, it's not going to be healthy for me. I definitely have a fair bit of anxiety going to work.<h2 id="a72ed2e7-e2e7-452f-a3d9-ee8160c8fe71">I know I'm taking a risk, but I'm putting myself first</h2>My parents are confused by the idea. That wasn't something they could ever think of.My mom mentioned <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/financial-independence-retire-early">the FIRE movement</a> to me. She said, "Why don't you continue to work for the next 10, 20, 30 years, and you can just retire early, and then you won't have to work again?"But for me, there's so much uncertainty. Your plan to keep working could just be stopped by a layoff.Going through the pandemic really taught me and a lot of my peers that the future is not really promised.There's a rejection of hustle culture. What's the point of giving so much loyalty? We definitely know that no job is going to be loyal to us.I'm definitely taking a step back in my career. I've built up all this clout over time with this employer. If I continued to work at the pace I did, I would have another big promotion in two years.My big fear is that when I come back, I'm going to be ready to get a job and there won't be one available for me.But I truly believe that taking a break will make me a better employee.I will return with more knowledge and experience that's needed to do the job.

I'm quitting my job at a big tech company to travel. Hustle culture is overrated — I'm taking a year off. 

<ul><li>As <keyword id="29405" type="General" weightage="20" keywordseo="slowdown" source="Orion">slowdown</keyword> blues pinch, the quickest way to save money is to cut down people-related costs. </li><li>Trimming of perks is likely to be restricted to the IT/ITES industry and some others. </li><li>Some perks which were used as incentives to get people back to office, have slowly been toned down or done away with.</li></ul>There was a time not too long ago when perks offered at Google were the talk of the town. Apart from a lot of usual stuff, there was free food, snacks, free onsite gyms, massage therapists, decompression capsules where you could catch a nap during the day, onsite laundry services and what not. Recently Google cut down on some of these perks to drive down costs. Coming on the heels of massive layoffs, this made news. Will Indian companies follow suit? “Organizations are proliferating a cultural shift towards responsible use of resources and improving efficiency. They are also continually benchmarking with the peer firms and deciding on their positioning on compensation and benefits offerings. This can be construed as building alignment with the market and may not truly represent a larger trend on reduction in employee perks” says Prateek Gupta, senior consultant, Aon, a human resource consulting firm. <cmsannotation type="cmsannotation" annotationid="With stress on protecting cash margins, companies likely to cut down on people costs" comment="subhead2" text="With stress on protecting cash margins, companies likely to cut down on people costs">With stress on protecting cash margins, companies likely to cut down on people costs</cmsannotation> Following the Covid-19 pandemic, and the Great Resignation, there was a surge in hiring and demand, which led to an inflationary economy. In India, foreign businesses and Indian businesses heavily dependent on overseas markets are being affected by the global macro slowdown. For at least the next 12 months, protecting cash and margins will be a crucial performance metric for businesses. “Everybody is trying to balance growth and margins. Since the growth is going to be muted, they want to get to a healthy margin that will compensate for muted or less than projected growth. So companies will focus on cash conservation and the margins. Whichever businesses have a high reliance on people costs, will come under a lens. There is a bit of a rationalization that is going to take but the rationalization is not going to be to the extent of what we are witnessing coming in from the West,” says Sandeep Chaudhary, CEO, PeopleStrong, a human capital management SaaS platform. As we know, the IT Industry is saddled heavily with cost pressures, and naturally, employees will be the subject of scrutiny. “With enough business not coming in and on the contrary, carrying the 2022 baggage of employment offers already rolled out, the quickest way to save money is to cut down people-related costs. Any cost-cutting measure helps companies to marginally cross over turbulence,” says Pratik Vaidya, MD &amp; chief vigilance officer at Karma Global, a tech enabled HR &amp; Compliance Organisation. Any trend that comes from the West, it is picked up in South Asia and many Indian companies will seize this as an opportunity to make certain practical adjustments to sustain business therefore some cosmetic changes are bound to happen here as well. “Free snacks and soft drinks, shuttle services, fitness sessions, yoga classes, on-site massage therapist, and general office accessories and equipment are some perks that have been cut or removed,” says Vaidya. Indian companies have been giving out perks to incentivize people to come back to office, but now those have been toned down as well. “I think this trimming will be restricted to IT/ITES industry till such time they turn around the corner and maybe at will, some other industry organizations will follow to some extent but overall, there will not be a big dip in perks enjoyed by people and given by other industries in India,” says Vaidya. <cmsannotation type="cmsannotation" annotationid="Indian employers still willing to keep perks on" comment="subhead2" text="Indian employers still willing to keep perks on"><keyword id="864895" type="General" weightage="20" keywordseo="Indian-employers" source="Orion">Indian employers</keyword> still willing to keep perks on</cmsannotation> “While tech bellwethers in the West are trimming down the perks, their counterparts in India are seen designing new ones to attract and retain employees. The need and importance of these perks is high in a hiring market. The current active talent demand across key tech cohorts, though low in comparison to a year ago, is sufficient to keep talent in churn,” says Kamal Karanth, co-founder, Xpheno, a staffing company. Despite a slow year, tech global capability centers (GCCs) in India had a high talent demand of over four lakh candidates for FY23, with a current active demand of 30,000. The IT sector, including tech services, products, and startups, has over 112,000 active job openings despite market challenges. The talent demand outlook for FY24 is expected to be similar to FY23. Attrition rates among tech cohorts remain significantly high in the over 15% range as the best talent continues to be poached and exchanged between employers. “While expansion hiring is a choice, replacement hiring isn't. With a sustained demand for top talent, employers know talent is precious and replacements are expensive. In a larger context, the comparative costs of keeping the perks on is lower compared to the costs of hiring, training and orienting,” says Karanth. He adds that amidst a larger austerity script, it is also an equally important messaging to resize or remove the perks. While the true dollar value of removing perks is debatable, it is a signaling that the enterprise is in no shape for extravagance. <cmsannotation type="cmsannotation" annotationid="Employers incentivizing employees to return to office" comment="subhead2" text="Employers incentivizing employees to return to office">Employers incentivizing employees to return to office</cmsannotation> There could be another reason while Indian employers are still trying to woo their employees. The pandemic affected employees from all these industries which caused people to work from home for more than two years. After getting acclimatised to this home working, returning to the office for all the days has not been the preferred option for many of them. Of course, a majority of the tech workforce refuses to come back. In fact, many companies have found it difficult to get their employees<a href="https://www.businessinsider.in/thelife/news/companies-want-their-employees-back-to-office-but-it-is-turning-out-to-be-difficult/articleshow/98602147.cms"> back to office</a>. “The need for the perks is only elevated given the current frictions around getting employees back to office,” says Karanth. This trend is particularly prevalent in the tech industry, where many companies have already announced plans to offer a hybrid work model or fully remote options for their employees. This may not translate into perks as we know them, but may include facilities that enable employees to adapt to a hybrid work mode. “Our survey indicates that organizations moving towards hybrid or back-to-office setups have been proactive in extending support through measures like relocation assistance (40% of responding organizations) and home office set-up allowances (53% of responding organizations),” says Gupta. <cmsannotation type="cmsannotation" annotationid="Perks will remain but with a focus on corporate wellness" comment="subhead2" text="Perks will remain but with a focus on corporate wellness">Perks will remain but with a focus on corporate wellness</cmsannotation> Some of the other perks which were used as incentives to get people back to office, have slowly been reduced or done away with. “Before the hybrid model could become a trendsetter in 2023, sometime in mid 2022, organizations were incentivizing employees to return by offering discounted meals, commuting benefits etc. But with the situation becoming near normal, and with companies recognizing employee engagement as crucial to performance and willing to add flexibility to office job and occasional working from home, have diluted the resistance with hybrid approach thereby softening the perks payout on the other side. But companies will have corporate wellness programmes to show its value and care for them,” says Vaidya. So with near normalcy in office, perks will be there but these will be mainly to attract and retain employees and for appreciation and recognition. However, some of the ‘cool’ perks are likely to go. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-companies-q4-revenue-likely-to-moderate-due-to-lack-of-significant-tariff-hikes/articleshow/99368163.cms">Telecom companies’ Q4 revenue likely to moderate due to lack of significant tariff hikes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/best-mobile-phones-under-20000-in-india-in-april/slidelist/99351495.cms">Best mobile phones under ₹20,000</a>

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