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Nvidia CEO Jensen Huang Resigns Amid Scandal; CFO Colette Kress Named Interim Chief

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Nvidia CEO Jensen Huang has resigned with immediate effect amid a mounting controversy surrounding the US technology giant, marking a major leadership shake-up at the company. In an announcement dated November 12, Nvidia said its Board of Directors had accepted Huang’s resignation as President, Chief Executive Officer and board member. Colette Kress, the company’s Executive Vice President and Chief Financial Officer, has been appointed interim CEO while the board begins searching for a permanent successor. The search will consider both internal and external candidates. Kress, who joined Nvidia in September 2013, has overseen the company’s financial operations and played a significant role in its expansion. Before joining Nvidia, she spent nearly 25 years in finance leadership positions at major technology companies, including Cisco and Microsoft. She will retain her CFO responsibilities alongside her interim CEO role. The board has also appointed Harvey C. Jones as its first-ever Chair. Jones brings more than three decades of experience as an entrepreneur, technology executive and venture investor. He previously served as CEO and Executive Chairman of Synopsys. Commenting on the transition, Jones expressed confidence in Kress and the existing leadership team, highlighting their understanding of the company’s operations, customers and business strategy. He added that Nvidia’s operations, customer commitments and product development roadmap would continue without disruption. Kress said her immediate priority would be to build on the foundation established by Huang during his 33-year association with the company. She reaffirmed Nvidia’s commitment to advancing accelerated computing and artificial intelligence while maintaining its focus on customers, partners, developers and shareholders. The board acknowledged Huang’s significant contribution to Nvidia and the wider technology industry, describing his legacy as instrumental in shaping the company’s global position. Meanwhile, Nvidia is scheduled to announce its third-quarter fiscal 2027 financial results on November 17, followed by an earnings conference call later that day. Source: NVIDIA

Nvidia CEO Jensen Huang Resigns Amid Scandal; CFO Colette Kress Named Interim Chief Read More »

ITC’s employee costs surge 14% to Rs 1,887 crore in Q2 FY27 as net profit falls 18.7%

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ITC Ltd reported a 14 per cent year-on-year increase in employee benefit expenses to Rs 1,886.52 crore in the second quarter of FY27, up from Rs 1,654.49 crore in the corresponding period last year. The rise of approximately Rs 232 crore came even as the diversified conglomerate witnessed a decline in its consolidated net profit. The company’s consolidated net profit attributable to owners fell 18.7 per cent to Rs 4,168.40 crore in Q2 FY27, compared with Rs 5,126.11 crore in Q2 FY26. Meanwhile, consolidated net revenue grew 3.9 per cent year-on-year to Rs 20,269 crore. ITC’s EBITDA declined 16.8 per cent to Rs 6,126.53 crore, while its operating profit margin narrowed to 27.85 per cent from 34.33 per cent in the year-ago quarter. The higher employee expenditure was reported amid varied performances across the company’s business segments, with non-cigarette FMCG and paperboards businesses registering growth, while the cigarette segment continued to face challenges. FMCG and paper businesses support growth ITC’s non-cigarette FMCG segment recorded a 19.1 per cent increase in revenue to Rs 7,218.36 crore during the quarter. Segment profit before tax rose 31.4 per cent to Rs 576.69 crore. According to the company, its FMCG business achieved double-digit revenue growth for the fourth consecutive quarter. Biscuits, snacks, noodles, spices, salt, frozen foods, homecare products and notebooks were among the categories contributing to the performance. The paperboards, paper and packaging segment also reported a strong recovery, with revenue climbing 35.9 per cent year-on-year to Rs 3,017.45 crore. Segment profit increased 50.7 per cent to Rs 273.32 crore. ITC’s agri business posted a 12.7 per cent rise in revenue to Rs 4,550.60 crore, while segment profit grew 14.3 per cent to Rs 518.41 crore. However, the cigarette business remained under pressure, with segment profit declining 26 per cent to Rs 4,044.49 crore from Rs 5,462.10 crore in the corresponding quarter of the previous fiscal year. The company attributed the challenging business environment to the impact of changes in cigarette taxation. While employee benefit expenses recorded substantial growth during the quarter, ITC’s financial disclosures did not specify the reasons behind the increase, leaving it unclear whether the rise was linked to salary revisions, additional hiring, changes in employee benefits or other workforce-related costs. Source: Economic Times    

ITC’s employee costs surge 14% to Rs 1,887 crore in Q2 FY27 as net profit falls 18.7% Read More »

Google, Meta Push Back Against ICE Requests for User Data Amid US Immigration Crackdown

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Google, Meta and other major technology companies are pushing back against increasing demands from US immigration authorities for user information, as the Trump administration intensifies efforts to identify and monitor online critics of its immigration policies. According to a report by The Wall Street Journal, technology companies are increasingly challenging broad data requests, delaying responses to subpoenas and strengthening policies that notify users when government agencies seek access to their information. The companies are facing growing pressure to balance legal obligations, customer privacy and concerns about potential political retaliation. Immigration and Customs Enforcement (ICE), which operates under the Department of Homeland Security (DHS), has reportedly stepped up its monitoring of online platforms, including YouTube, Facebook, Instagram, Reddit, TikTok and X, particularly accounts and content it considers threatening to immigration officers or enforcement operations. Authorities have increasingly relied on administrative subpoenas to obtain user information. Unlike judicial warrants and grand jury subpoenas, these orders can be issued and approved directly by ICE officials without obtaining prior judicial authorisation. Former government officials from both major political parties have raised concerns about the growing use of this approach. The scale of government data requests has also drawn attention. Google received approximately 28,600 US government subpoenas between January and June 2025, with comparable volumes recorded during the second half of the year. Meanwhile, Meta disclosed that it provided at least some user information in 88.8 per cent of US government requests received between July and December 2025. In recent weeks, the DHS has reportedly joined hands with the Department of Justice to pursue grand jury subpoenas, which carry more significant legal consequences for companies that refuse to comply. Tech Companies Face Legal and Political Pressures The growing dispute has raised concerns among technology executives about potential investigations and regulatory consequences. Leaders at Meta are reportedly assessing the possibility of increased congressional scrutiny if Democrats gain control following the upcoming midterm elections. Google executives are also weighing the risks of resisting government requests against the possibility of administrative retaliation, particularly amid ongoing federal antitrust proceedings involving the company. US lawmakers have already questioned technology companies over their handling of sensitive customer information. Representative Shri Thanedar, who helped launch an investigation into corporate compliance earlier this year, said executives should be prepared to justify their decisions under oath. Google, responding to the concerns, said its procedures are designed to protect customer privacy while meeting legal obligations. The company added that it challenges government demands when they are excessively broad. Meanwhile, federal authorities have maintained that their actions comply with existing legal requirements. An ICE spokesperson said the agency conducts its operations in accordance with applicable laws and policies. Source: TOI

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Microsoft Offers Voluntary Buyouts to 60,000 Employees Amid Rising AI Investments

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Microsoft has announced a voluntary buyout programme for approximately 60,000 employees, representing more than a quarter of its global workforce, as the technology company seeks to control costs and finance its expanding investments in artificial intelligence (AI). According to a source familiar with the matter, the programme will cover employees across several divisions, including AI experiences, Copilot, finance, human resources, Xbox, and Windows + Devices. Marketing, commercial business and security teams will be excluded from the initiative. Microsoft Chief People Officer Amy Coleman said in an internal memo that the offer would provide eligible employees considering opportunities outside the company with a supported transition option. She added that the programme would also help participating business units adjust their workforce to evolving organisational requirements. The move comes as Microsoft and other major technology companies continue to invest hundreds of billions of dollars in AI infrastructure, including data centres and advanced chips. These substantial expenditures have attracted investor attention over concerns about the potential returns on such investments. Microsoft has projected capital expenditure of $175 billion for the 2026 calendar year. The company reported 223,000 full-time employees worldwide as of June 30, 2026, according to its annual filing. The latest buyout offer follows an earlier voluntary programme introduced this year for approximately 9,000 employees, accounting for around 7% of its US workforce. In July, Microsoft also announced plans to eliminate 4,800 jobs, representing approximately 2.1% of its global workforce, as part of a restructuring of its Xbox gaming business. The changes included plans to divest up to five gaming studios as the company sought to improve returns from the division. The latest voluntary buyout scheme will be available to eligible employees at level 70 and below in participating teams across Canada, India, the United Kingdom and the United States. Microsoft described the initiative as a time-limited programme informed by lessons from its previous voluntary retirement scheme. Eligible employees were expected to receive further details shortly after the announcement. Source: Reuters  

Microsoft Offers Voluntary Buyouts to 60,000 Employees Amid Rising AI Investments Read More »

Amazon to Hire Over 300,000 Workers for US Holiday Season, First Increase in Three Years

/ Human Resource Community

Amazon has announced plans to recruit more than 300,000 workers across the United States for the upcoming holiday season, marking its first increase in seasonal hiring in three years as the e-commerce giant prepares for a rise in customer orders. The company had maintained seasonal recruitment at around 250,000 workers annually over the past three years. The latest hiring drive will include seasonal, part-time and full-time positions across its core US operations. The recruitment expansion comes amid expectations of stronger holiday spending. The National Retail Federation forecast last week that US holiday sales would grow by 4.2% year-on-year, exceeding $1 trillion this year. Amazon also announced changes to employee benefits. From next year, seasonal workers who work at least 30 hours per week will become eligible for the healthcare benefits available to regular full-time employees. The move follows Walmart’s recent expansion of healthcare benefits for its workforce as rising medical expenses and the increasing cost of living continue to put pressure on American households. Amazon’s hiring announcement comes shortly after the company disclosed a limited number of layoffs in its retail division earlier this month. The company said full-time employees would receive a minimum wage of $20 per hour, with average pay reaching nearly $24 per hour. Seasonal workers will earn an average hourly wage of $20. The increased recruitment is expected to help Amazon manage the anticipated surge in holiday orders while providing temporary employment opportunities during one of the busiest periods for the US retail industry. Source: Reuters  

Amazon to Hire Over 300,000 Workers for US Holiday Season, First Increase in Three Years Read More »

Only 6% of companies achieve significant financial gains from AI: McKinsey survey

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Despite widespread improvements in employee productivity, only a small proportion of companies are translating artificial intelligence (AI) adoption into substantial financial returns, according to McKinsey’s 2026 State of AI survey. The report found that 80 per cent of respondents had experienced improvements in individual productivity through AI. However, only 37 per cent reported a positive impact on earnings before interest and taxes (EBIT), while just 6 per cent of organisations qualified as high performers in AI implementation. McKinsey noted that companies making the greatest progress are redesigning their operating models around products, customer journeys and business processes. Such an approach can accelerate decision-making, strengthen accountability and help businesses respond more quickly to changing priorities. The report emphasised that there is no universal operating model for achieving AI success. Instead, organisations need to simplify workflows, eliminate unnecessary handoffs and ensure resources can be redirected efficiently as business requirements evolve. Only 11 per cent of surveyed organisations had reached the stage of fundamentally rethinking work and value creation through AI. The findings also pointed to growing organisational complexity, with coordinator roles expanding at approximately 1.5 to two times the rate of line roles over the past five years. According to McKinsey, AI could help businesses reduce administrative complexity and improve coordination rather than introduce additional layers of processes and oversight. Stanford economist Erik Brynjolfsson, in a recent conversation with McKinsey, argued that businesses risk overlooking AI’s broader potential when they focus primarily on reducing workforce numbers. He highlighted the importance of reorganising work to take advantage of the new capabilities that AI makes possible. However, the report warned that excessive automation could undermine employee development by removing opportunities to acquire essential skills through routine tasks. If AI agents take over entry-level responsibilities traditionally used to build professional expertise, organisations could face a future shortage of experienced workers capable of exercising sound judgement. A separate survey on AI readiness revealed a significant difference between individual confidence and organisational preparedness. While 70 per cent of respondents said they felt personally ready to work with AI, only 27 per cent of leaders considered their organisations prepared for the changes associated with an agentic AI future. McKinsey stressed the need for clear AI governance frameworks that establish appropriate usage guidelines and define accountability. As an example, the report cited a global life sciences company whose policy requires AI to support employees without undermining human creativity, expertise, autonomy or oversight. Employees remain responsible for work produced with AI assistance. The report concluded that the organisations extracting the greatest value from AI would not necessarily be those deploying the largest number of AI agents or automating the most tasks. Instead, long-term success would depend on rethinking how businesses create value and aligning workflows, talent strategies and leadership practices with the capabilities of AI. Source: ANI

Only 6% of companies achieve significant financial gains from AI: McKinsey survey Read More »

India Salaries Expected to Rise 9.1% in 2027 Amid Global Economic Uncertainty: Aon Report

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Average salaries in India are projected to increase by 9.1% in 2027 as companies seek to attract and retain skilled employees while managing rising workforce costs and uncertain global economic conditions, according to a report released by professional services firm Aon on Wednesday. The estimate comes from Aon’s Annual Salary Increase and Turnover Survey for India 2026-27 and is broadly in line with the average salary hike of 9% recorded in 2026. The study covered more than 1,200 organisations across 45 industries, making it one of India’s largest compensation surveys. The report noted that strong domestic consumption, continued investments and export growth are supporting business confidence, enabling employers to maintain compensation spending while remaining focused on cost efficiency. Among sectors, non-banking financial companies (NBFCs) are expected to record the highest salary increases at 10.1% in 2027. The energy sector is projected to follow with increments of 9.9%, while real estate and infrastructure companies are expected to offer hikes of 9.8%. Roopank Chaudhary, Partner and Rewards Consulting Leader for Talent Solutions India at Aon, said employers are increasingly directing compensation towards critical roles and employees with skills in high demand. He noted that stable salary budgets, alongside a modest increase in non-merit adjustments in manufacturing and technology, indicate a growing emphasis on market competitiveness and workforce priorities. The survey also highlighted rising employee attrition, with the overall rate reaching 18% in 2026, compared with 16.2% in 2025 and 17.1% in 2024. The trend underscores the continuing challenge of retaining talent amid competition for skilled professionals. Meanwhile, the adoption of artificial intelligence (AI) productivity tools continued to expand across workplaces. Established usage increased to 56% in 2026 from 46.1% in the previous year, with adoption spreading across all major job categories examined in the survey. Amit Kumar Otwani, Associate Partner at Aon’s Talent Solutions India, emphasised that employers must look beyond regulatory compliance when implementing the Wage Code. He highlighted the importance of evaluating its wider implications for workforce management and costs while communicating changes effectively to employees. Source: IANS  

India Salaries Expected to Rise 9.1% in 2027 Amid Global Economic Uncertainty: Aon Report Read More »

Green Cards Not Central to Workforce Strategy, Says TCS CEO Amid Shift to Local US Hiring

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Tata Consultancy Services (TCS) has said that green cards have never been a central component of its workforce strategy, as the IT services major reduces permanent residency applications for H-1B employees and expands local recruitment in the United States. TCS CEO K. Krithivasan said the US suspension of green card processing would not significantly change the company’s approach to talent management. He noted that applications for permanent residency filed by the company in recent years had fallen to single-digit levels, as explained by the company’s human resources leadership. The company has been increasing its reliance on locally recruited professionals in the US, who now account for 50 per cent of its workforce. TCS plans to hire an additional 15,000 employees in the country over the next five years. Of its approximately 30,000-strong US workforce, around 11,000 employees are on H-1B visas. Krithivasan explained that the company’s operating model involves employees travelling from India to the US for client assignments lasting two to three years before returning. He highlighted the continuous movement of talent between onsite and offshore operations as a key feature of its workforce strategy. TCS also said fresher recruitment would remain aligned with business demand rather than a predetermined annual target of 40,000. The company hired 10,000 fresh graduates in the September quarter, compared with 14,000 in the preceding quarter. Meanwhile, TCS has increased its intake of AI-native talent from Indian universities by 50 per cent as it strengthens its artificial intelligence capabilities. Chief Human Resources Officer Sudeep Kunnumal said these recruits were adapting naturally to AI-led work and delivering strong results for clients. The company added 4,258 employees during the quarter, taking its total headcount to approximately 5.9 lakh. Its annualised AI revenue crossed $3.1 billion, contributing more than 10 per cent of overall revenue. Krithivasan also highlighted emerging AI-led engagements, including projects involving Porsche and Best Buy, in which TCS helps clients rethink their operating models to adapt to changing business requirements. The company aims to help organisations transition towards AI-first operations rather than focusing solely on revenue acquisition or protecting existing business. TCS expects growing demand for AI services to compensate for productivity-driven pricing pressures in traditional technology services. However, Krithivasan indicated that a more decisive shift in the balance could take between six quarters and three years. He added that technology spending could remain stable or rise modestly as businesses invest in AI, technology modernisation and operational improvements. Source: TNN  

Green Cards Not Central to Workforce Strategy, Says TCS CEO Amid Shift to Local US Hiring Read More »

India’s AI Talent Demand to Exceed Available Workforce by Over 3.5 Times in 2026: Report

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India’s demand for artificial intelligence (AI) professionals is projected to reach approximately 1.4 million in 2026, while the available talent pool is estimated at around 400,000, creating a demand-supply gap of more than 3.5 times, according to the inaugural BinQle Talent Intelligence Report 2026. The report warns that the widening shortage of skilled professionals could create challenges for businesses and Global Capability Centres (GCCs) as organisations increasingly integrate AI into their operations. Sushant Acharya, Co-Founder and Chief Business Officer of Bengaluru-based BinQle, said India’s ability to capitalise on its AI potential would depend on how effectively organisations identify, develop and deploy the skills required by the evolving technology landscape. The report highlighted shortages of industry-ready professionals across artificial intelligence and machine learning, cloud architecture, cybersecurity, data engineering, DevOps and full-stack development. This talent crunch has contributed to salary increases of 30 to 35 per cent in specialised technology roles. It also noted that fewer than half of candidates meet industry expectations for workplace readiness. According to the report, AI is transforming existing job roles rather than simply eliminating them. As a result, AI proficiency, data literacy, adaptability and cross-functional communication are becoming increasingly important. With 39 per cent of existing skill sets expected to become outdated by 2030, the report emphasised the need for continuous learning and reskilling. To address the growing gap, the report recommended that organisations anticipate skill requirements 12 to 18 months in advance, connect reskilling initiatives with measurable business outcomes and develop specialised as well as local talent pipelines. It also called for stronger employer branding around AI adoption and greater use of flexible workforce strategies. Source: PTI

India’s AI Talent Demand to Exceed Available Workforce by Over 3.5 Times in 2026: Report Read More »

GST Council May Consider Input Tax Credit on Employee Insurance Premiums

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The GST Council is expected to consider a proposal to allow employers to claim input tax credit (ITC) on GST paid for insurance policies provided to their employees at its meeting on October 7. Under the current Goods and Services Tax framework, individuals purchasing life or health insurance for themselves or their families are eligible for GST exemption. However, when companies purchase insurance coverage for employees, GST is currently levied and businesses are generally unable to claim input tax credit on the premium. At present, an 18% GST is applicable to group life and health insurance policies purchased by employers. The proposed change could allow businesses to offset the tax paid on such premiums through ITC, potentially reducing the overall cost of providing insurance coverage to employees. Sources said the move could make employee insurance more affordable for employers and encourage wider coverage across the organised workforce. Since group insurance is a common employee benefit offered by organised-sector companies, lower costs could also support greater adoption of insurance products. The proposal, if approved, could have implications for both employers and the insurance industry by reducing the effective cost of providing employee health and life cover. Source: PTI

GST Council May Consider Input Tax Credit on Employee Insurance Premiums Read More »