A recent job posting by IT giant Cognizant offering an entry-level salary of ₹2.5 lakh per annum has sparked a heated debate on social media. While some users criticize the low pay compared to the CEO’s ₹186 crore salary, others defend it as a decent starting point for fresh graduates. The controversy highlights the ongoing discussion about fair wages and the value of entry-level positions in India’s IT sector.
Karnataka IT Minister Priyank Kharge has addressed concerns regarding a proposed amendment to extend working hours for IT employees to 14 hours, stating that there is a misconception about the bill and that he is willing to provide further clarity to the media. The proposal has sparked controversy, with the Karnataka State IT/ITeS Employees’ Union (KITU) expressing opposition and allegations of pressure from the IT industry on the government.
IT companies in Karnataka are proposing an extension of work hours to 14 hours, sparking controversy and raising concerns about job security. The proposal has faced strong opposition from employees’ unions who fear job losses due to a potential shift to a two-shift system. This comes amidst a heated debate on job reservation for Kannadigas in the private sector.
IT industry stalwarts N R Narayana Murthy and Kris Gopalakrishnan have expressed their hopes for the upcoming government to foster an environment conducive to wealth creation and innovation. They advocate for ‘compassionate capitalism’ and ample opportunities for ethical entrepreneurs to drive economic growth. Additionally, they emphasize the need for increased investment in research and higher education institutions, suggesting that alumni should contribute more to their alma maters.
IT giant Cognizant has issued a stern directive to its employees, declaring that failure to comply with its return-to-office policy could result in termination. The company has been urging its workforce to resume working from offices for three days per week, but many have remained reluctant despite repeated reminders. Cognizant’s management has now made it clear that further violations will be considered serious misconduct and subject to disciplinary action, including dismissal.
Tata Consultancy Services (TCS) CEO K Krithivasan’s annual compensation for FY24 stood at ₹25.36 crores, making it the lowest among the large IT firms in India. However, it is important to note that Krithivasan’s salary was for a 10-month period compared to the full year for the outgoing COO, NG Subramaniam, who earned more than the CEO. Despite a marginally lower salary, Krithivasan’s compensation includes basic pay, benefits, allowances, and a commission of ₹21 crore. He currently holds approximately 11,232 stocks in the company. In comparison, other leading IT firms such as Infosys and Wipro have yet to release their annual reports for FY24. However, in FY23, Infosys’ CEO Salil Parekh had the highest remuneration of ₹56 crore, followed by Wipro’s newly appointed CEO Srinivas Pallia with ₹50 crore annually.
IT major Tech Mahindra reported a significant drop in its net profit for the March quarter, with a year-on-year decline of 41%. The company’s net profit stood at ₹661 crore in the quarter ending March 2023, marking a sharp decrease from ₹1,117.70 crore reported in the same quarter last year. This financial setback has cast a shadow over the company’s performance, as it navigates the challenges of the global economic landscape.
