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News on Medial
Jobs Galore: How Indian Unicorns Have Changed The Face Of India’s Job Market
Inc42
·
1y ago
Medial
According to an Inc42 report, India’s 110 Indian unicorns today employ more than 4.5 Lakh individuals directly. Indian unicorns, prominent startups valued at over $1 billion, have significantly impacted the country's job market by creating diverse employment opportunities across various sectors. These unicorns, spanning industries like e-commerce, fintech, and edtech, have transformed the employment landscape, offering jobs ranging from technology and operations to marketing and sales, thus contributing to India's evolving economic ecosystem. Read the article by clicking on "View Source" to know more-
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Related News
Finding a Tech Job Is Still a Nightmare
Wired
·
1y ago
Medial
The tech job market has been hit hard in the past year, with tech companies globally laying off over 400,000 workers. The industry is still facing a tough market with a smaller number of job openings, hindering promotion opportunities and forcing more people to stay in their current jobs for longer. Big Tech companies like Meta, Google, and Amazon have cut tens of thousands of jobs, leading to hiring freezes. Job seekers in the tech industry are feeling anxious and desperate as they face fierce competition for limited job opportunities. The situation is particularly challenging for foreign workers in the US who face uncertainty regarding their visa statuses. Despite these challenges, some positive changes have emerged, including more open discussions about layoffs and increased connections among job seekers.
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A comprehensive list of 2023 & 2024 tech layoffs
TechCrunch
·
1y ago
Medial
In the tech industry, there have been significant layoffs in 2023 and 2024. Companies like Google, Amazon, Microsoft, and TikTok have all announced job cuts. The layoffs are a reflection of the challenges faced by tech companies, with many facing tough market conditions and needing to focus on efficiency rather than growth. The layoffs also highlight the impact on innovation and the human aspect of job cuts. The total number of layoffs in 2023 was 262,735, which is 59% higher than the previous year. The tech sector continues to face challenges, and it remains to be seen how the job market will evolve.
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Ex-Google employee struggles in Canada, says, ‘Indian experience undervalued!’
Livemint
·
9m ago
Medial
An ex-Google employee working in Canada has shed light on the challenges that Indian professionals face in the Canadian job market. In a viral video interview, he expressed frustration with his low salary and the disregard for his Indian work experience by Canadian employers. This highlights a growing trend of skilled Indian workers feeling undervalued and sidelined in the Canadian job market. The discussion comes amidst recent policy changes that have made it harder for international students and professionals to find work in Canada. This underscores the need for Canada to recognize and embrace global talent.
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Crypto job market in India declines, Bengaluru remains top hub, says Indeed
IndianStartupNews
·
1y ago
Medial
The cryptocurrency job market in India is experiencing a decline, according to data from job site Indeed. Job postings for crypto-related positions have decreased by 64.20%, while searches for such jobs have dropped by 15.20% between August 2022 and 2023. This decline is attributed to volatile market conditions and increased regulatory and safety concerns. Bengaluru is the leading contributor to the crypto job market, followed by cities like Pune, Mumbai, Gurgaon, Hyderabad, and Kochi. The most in-demand crypto job roles are Application Developers, Enterprise Architects, Full Stack Developers, Developers, and Data Engineers.
View Source
Indian Employers Optimistic About AI's Job-Creation Potential, Says Indeed Global Survey
Business Bytes
·
1y ago
Medial
According to a global survey by Indeed, Indian employers are optimistic about the job-creation potential of Artificial Intelligence (AI). Over 85% of Indian employers believe that AI will lead to the creation of new jobs within the next 1-5 years. The survey also highlights the importance of acquiring skills relevant to AI and technology for the evolving job landscape. This positive outlook reflects a growing recognition of AI as a tool for growth and innovation in the Indian job market.
View Source
Delhi unicorns on hiring spree amid funding winter; over 50,000 join startups
Livemint
·
1y ago
Medial
According to a report by PrivateCircle Research, Delhi-based unicorns saw a significant increase of 52,420 employees between September 2022 and July 2023, despite the global funding winter. However, the report also noted that 3.6 lakh employees left their jobs across Indian unicorn startups in the same period. Bengaluru's startup ecosystem experienced a decline in workforce, while only three Indian unicorns managed to maintain an attrition rate of under 1%. Overall, 111 unicorns employed 4,42,714 people in July 2023, showing a net increase from September 2022.
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Attrition falls in IT Inc.
Livemint
·
1y ago
Medial
Indian IT giants Tata Consultancy Services (TCS) and Infosys have reported their lowest attrition rates in years, indicating a subdued job market influenced by the rise of artificial intelligence (AI). Infosys recorded an attrition rate of 12.9% in Q4 2021, its lowest in 12 quarters, while TCS saw a rate of 13.3%, its lowest in nine quarters. The decline in attrition is in sharp contrast to the 20-30% rates seen in the early stages of the pandemic. The job market has shifted as candidates hesitate to change jobs due to uncertainty surrounding the impact of AI.
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Professor warns against STEM studies amid AI’s rise
Medial
·
1y ago
Medial
A Nobel Prize-winning economist has cautioned against focusing solely on science, technology, engineering, and mathematics (STEM) subjects due to the rise of artificial intelligence (AI). Christopher Pissarides highlights the risk of certain IT jobs being replaced by AI, urging young people to develop empathetic and creative skills that are less easily replaceable by technology. While there is a growing demand for STEM proficiency, Pissarides suggests that traditional face-to-face skills will still dominate the job market. He emphasizes the importance of managerial, creative, and empathetic skills, including communication and healthcare, which are less likely to be replaced by AI.
View Source
Indian Soonicorns Have Created 1.26 Lakh Jobs To Date
Inc42
·
1y ago
Medial
According to a recent report by Inc42, Indian soonicorns (startups valued at over $1 billion but not yet IPOed) based in Bengaluru, Mumbai, and Delhi NCR have created nearly 90% of employment opportunities. These soonicorns, which have raised more than $15 billion and have a cumulative valuation of over $40 billion, have created more than 126,000 jobs to date. Fintech soonicorns have emerged as the biggest employment providers, followed by ecommerce and enterprise tech sectors. Despite the challenges faced by Indian startups over the past two years, the number of unicorns in India is expected to rise to over 280 by 2030, led by fintech, ecommerce, and enterprise tech soonicorns.
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From algorithms to unicorn ambitions: The AI scale blueprint for India’s startups to be unveiled at ET Soonicorns Summit 2025 - The Economic Times
Economic Times
·
1d ago
Medial
The ET Soonicorns Summit 2025 in Bengaluru will focus on the pivotal role of artificial intelligence in transforming soonicorns—high-potential startups—into unicorns. The event will discuss AI investments, the development of Indian large language models, job impacts, and ethical considerations, providing a roadmap for AI-driven startups. With India hosting 121 unicorns, the summit will cover AI's contribution to scaling startups, culminating in discussions about India's ability to challenge global AI leaders.
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