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AI to Transform, Not Terminate Jobs: Amazon CEO Andy Jassy

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Artificial intelligence is poised to redefine the workplace rather than eliminate jobs, according to Andy Jassy, CEO of Amazon. Addressing widespread concerns about AI-driven unemployment, Jassy suggested that fears of large-scale job losses are likely exaggerated. In a recent media interaction, Jassy acknowledged that many roles which have depended heavily on human labour over the past two to three decades may require fewer workers in the future. However, he stressed that this shift does not mean employment opportunities will vanish altogether. Instead, the structure and skill requirements of jobs are expected to evolve. “I do believe that a lot of the jobs that we’ve thrown human beings at the last 20 or 30 years, you won’t need as many human beings doing those same jobs. But I also think there will be other jobs created. And that has always happened in every technology shift,” he said. Backing this perspective, a recent report by Morgan Stanley suggested that AI’s long-term impact on employment may be less disruptive than widely feared. While automation will affect certain roles, the report stated that most workers are unlikely to be permanently displaced. Instead, many are expected to transition into new or emerging roles — some of which do not yet exist. Morgan Stanley drew comparisons with major technological advancements over the past 150 years, including electricity, mechanised farming, computers and the internet. These innovations transformed industries and reshaped job requirements but did not eliminate the need for human labour. The report also referenced the introduction of spreadsheets in the 1980s as an example. While spreadsheets reduced demand for some clerical tasks, they enabled financial professionals to focus on more strategic and high-value responsibilities, ultimately creating new career pathways within the sector. Industry leaders and analysts therefore suggest that AI will reshape the workforce, demanding new skills and adaptability, rather than causing widespread unemployment. Source: IANS

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India Inc Likely to Grant 9.1% Average Salary Hike in 2026; GCCs Lead with 10.4% Growth: EY Report

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Corporate India is projected to offer an average salary increment of 9.1% in 2026, with Global Capability Centres (GCCs) emerging as the frontrunners in pay growth, according to the latest Future of Pay report by EY India. GCCs are expected to record the highest average increments at 10.4%, fuelled by sustained global demand for digital and advanced technology expertise. The financial services sector is likely to follow closely with projected hikes of around 10%, while e-commerce firms may offer 9.9% increases. Life sciences and pharmaceutical companies are anticipated to roll out average hikes of 9.7%. The report also signals a moderation in workforce churn. Overall attrition declined to 16.4% in 2025 from 17.5% in 2024, reflecting a relatively stabilising employment environment. However, over 80% of employee exits continue to be voluntary, indicating that job switches are largely driven by better career prospects rather than downsizing. Among sectors, financial services reported the highest attrition at 24%. Professional services and hi-tech and IT segments also experienced elevated turnover levels. In contrast, GCCs demonstrated comparatively stronger retention, with attrition standing at 14.1%. Abhishek Sen, Partner and Leader – Total Rewards, HR Technology and Learning at EY India, noted that organisations are increasingly reassessing their talent investment strategies. He emphasised that compensation strategies are shifting beyond annual increments to focus on rewarding critical skills while maintaining long-term sustainability. A notable trend highlighted in the report is the transition towards skills-based pay models. Nearly half of the surveyed organisations are moving away from conventional role-based compensation structures to frameworks that prioritise specific capabilities. Professionals skilled in artificial intelligence, generative AI, machine learning, cybersecurity, and cloud computing are commanding salary premiums ranging between 30% and 40%, reflecting the strategic importance of these competencies in driving business growth. Additionally, variable pay is becoming a more significant component of overall compensation. The average variable pay as a proportion of fixed salary rose to 16.1% in 2025, up from 14.8% the previous year. Source: IANS  

India Inc Likely to Grant 9.1% Average Salary Hike in 2026; GCCs Lead with 10.4% Growth: EY Report Read More »

AI Could Hit Global Jobs Like a ‘Tsunami’, Warns IMF Chief

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Artificial intelligence could reshape the global labour market with the force of a “tsunami”, potentially disrupting millions of jobs and rattling financial systems, cautioned Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). According to IMF estimates, nearly 40 per cent of jobs in emerging economies and about 60 per cent in advanced economies could be affected by AI. While the technology is expected to eliminate certain roles, it will also enhance and create others. However, Georgieva acknowledged that policymakers still lack clear strategies to help workers transition smoothly into the evolving AI-driven economy. She warned that AI could exacerbate inequality within and across nations, favouring countries and individuals with advanced technological capabilities while leaving others behind. Unchecked expansion of AI, she said, may also create instability in financial markets. Despite the concerns, Georgieva highlighted AI’s significant growth potential. The technology could lift global output by nearly 0.8 percentage points, pushing economic growth beyond pre-pandemic levels and opening new avenues for employment. For India, she noted, such momentum could support its ambition of becoming a developed nation under the “Viksit Bharat” vision. The IMF chief emphasised that countries investing in digital infrastructure, skill-building, and AI adoption will be better positioned to benefit. She outlined three key risks: widening inequality between technological “haves” and “have-nots,” threats to financial stability, and large-scale job displacement. The IMF has earlier cautioned that rapid AI-related investments, particularly in the US, could risk forming a speculative bubble reminiscent of the early 2000s dot-com crash. Source: TNN

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Ambani, Adani Turn India AI Summit into High-Stakes Talent Hunt Amid $50B Investment Push

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India’s two biggest business houses — Mukesh Ambani and Gautam Adani — are turning the ongoing India AI Summit into a high-stakes talent hunt, as competition to build cutting-edge artificial intelligence tools intensifies across the country. Senior executives from Reliance Industries Ltd. and Adani Group have been actively scouting young engineers at the summit, with candidates queuing up to showcase resumes, AI prototypes, and GitHub portfolios. With AI expertise still a niche skill set in India’s vast technology workforce, companies are moving quickly to secure top talent. Priyanshi Bavishi, a marketing executive at AdaniConnex Pvt. Ltd., said the summit offers an ideal platform to connect with qualified professionals. “The industry is still niche, so the qualified people have great prospects,” she noted. The week-long event has drawn global tech heavyweights, including Sundar Pichai of Alphabet Inc. and Sam Altman of OpenAI, alongside French President Emmanuel Macron, who is scheduled to deliver the keynote address. For Prime Minister Narendra Modi, the summit serves as a global showcase for India’s software prowess and tech-savvy workforce. The country has already attracted $50 billion in AI-related investments, positioning itself as an emerging force in the global AI race. Corporate announcements during the summit underscored that momentum. Anthropic revealed a partnership with Infosys Ltd. to build advanced AI solutions tailored for specific industries. Meanwhile, the Adani Group unveiled plans to invest $100 billion in data centers by 2035. Google has also committed $15 billion toward developing what it calls its first AI hub in India. Consulting firms are equally aggressive in recruitment. Siddharth Sood, a consulting partner at Ernst & Young LLP, said the focus is shifting beyond traditional service roles. “We are a service-oriented nation. But we are looking for ideapreneurs,” he said, highlighting demand in areas such as AI-driven cybersecurity. At the summit venue, AI engineers, data scientists, and cloud developers are among the most sought-after profiles. Recruiters from Dell Technologies and Salesforce are leveraging the event to access candidates they might not reach through conventional online hiring channels, where automated screening systems often filter out applicants. Viral Tank, senior manager in analytics at Deloitte Haskins & Sells LLP, described the atmosphere as mutually beneficial. “It works both ways. I am looking for people. They are looking for jobs,” he said, noting the strong turnout of students since early morning sessions. While global corporations deepen their AI footprints and Indian conglomerates ramp up infrastructure spending, the government is aiming to expand domestic AI model development and boost funding further. Even as India accelerates its efforts, it continues to trail China in overall AI scale and deployment — making talent acquisition a critical battleground in the country’s next phase of digital growth. Source: Bloomberg  

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Dentsu Appoints Takeshi Sano as Global CEO Amid Record Loss and Strategic Overhaul

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Japanese advertising major Dentsu Group has named Takeshi Sano as its next Global Chief Executive Officer, ushering in a major leadership transition as the company confronts significant financial headwinds. Sano will replace long-serving chief Hiroshi Igarashi, whose departure concludes a career spanning nearly four decades with the group. The change will become effective after the company’s 177th Ordinary General Meeting of Shareholders on March 27, 2026. From that date, Sano will assume the roles of Executive Officer, President and Global Chief Executive Officer. Igarashi, who joined the company in 1984, exits at a time when dentsu is seeking to strengthen its competitive edge and accelerate structural reforms. The leadership shake-up is part of a broader effort to streamline operations and reposition the organisation for long-term global growth. The management reshuffle also includes several senior-level appointments. Yoshimasa Watahiki will take on the roles of Executive Officer, Executive Vice President and Global Chief Corporate Affairs Officer of dentsu, alongside serving as Chief Operating Officer of dentsu Japan. Arinobu Soga will step down from his position as Executive Officer, Executive Vice President and Global Chief Governance Officer. Shigeki Endo, currently dentsu’s Global Chief Financial Officer, will be appointed Director, Executive Officer and Global Chief Financial Officer effective March 27. Endo joined the company as Global CFO Designate in July 2024 and formally assumed the CFO role in February 2025. His previous experience includes senior finance positions at ITOCHU, GE, BAT and Accenture Japan. The leadership overhaul follows a challenging financial year. For the year ended December 2025, dentsu posted a record consolidated net loss of 327.6 billion yen, primarily driven by a 310.1 billion yen impairment charge related to weak overseas operations. The net loss widened from 192.1 billion yen in the previous year, while operating losses increased to 289.2 billion yen from 124.9 billion yen. Sales, however, rose 1.7 per cent to 1,435.2 billion yen. In response to the results, the company announced it would not declare an annual dividend. Born in March 1970, Sano joined Dentsu Inc. in April 1992 and has held several senior leadership roles. He previously served as Managing Director of the Business Transformation Division in 2021 and became Chief Executive Officer of Business Transformation in 2023. Since January 2024, he has been Chief Executive Officer of dentsu Japan and Director, President and Chief Executive Officer of Dentsu Inc. Sano’s elevation places a transformation-focused executive at the helm during a critical period for the global advertising and marketing industry, which continues to face pressure from digital disruption, cost restructuring and underperforming international businesses. Investors and stakeholders will be closely watching whether the new leadership team can stabilise overseas operations and restore profitability. Source: peoplematters  

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30 Crore Workers Likely to Join Nationwide Strike on February 12, Say Trade Unions

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A coalition of 10 central trade unions has confirmed that a nationwide general strike scheduled for Thursday, February 12, will proceed as planned, with an estimated participation of nearly 30 crore workers across India. The joint platform had earlier announced a strike call on January 9, 2025, protesting what it described as the Centre’s “anti-worker, anti-farmer and pro-corporate” policies. Trade union leaders now claim that this upcoming agitation could witness even greater participation than previous nationwide protests. Speaking to the media, All India Trade Union Congress (AITUC) General Secretary Amarjeet Kaur said that not fewer than 30 crore workers are expected to take part in the February 12 strike. She pointed out that during the July 9, 2025 agitation, around 25 crore workers had joined the movement. According to Kaur, the strike is likely to impact nearly 600 districts across the country — an increase from approximately 550 districts that were affected during last year’s mobilisation. She attributed the anticipated turnout to extensive groundwork at district and block levels, along with backing from farmers’ groups and various federations. On the question of the strike’s effect in BJP-ruled states, Kaur stated that Odisha and Assam are expected to witness a complete shutdown, while significant disruptions are anticipated in several other states as well. In a joint statement, the trade union forum said the Samyukt Kisan Morcha has extended full support to the strike and related mobilisations. Agricultural workers’ unions are also actively participating, with particular emphasis on the restoration of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). The unions claim that awareness drives and campaigns have been carried out nationwide across government offices, public and private sector establishments, industrial hubs, and rural and urban communities. Student and youth organisations have reportedly joined outreach efforts in multiple locations, while sections of the general public have expressed solidarity with the demands. Strike notices have been issued across most industries and sectors, and organisers describe preparations as comprehensive. Among their key demands are: Withdrawal of the four new labour codes and associated rules Scrapping of the Draft Seed Bill and the Electricity Amendment Bill Repeal of the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act Restoration of MGNREGA Withdrawal of the Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025 The joint forum comprises major trade unions including INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF, and UTUC. Source: PTI

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Cognizant plans to hire up to 25,000 fresh graduates in 2026

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IT services firm Cognizant announced plans to recruit around 24,000–25,000 freshers in 2026, marking a sharp ramp-up in entry-level hiring as part of its strategy to strengthen the “bottom of the pyramid” workforce. The proposed intake represents a nearly 20 per cent increase compared with 2025, when the company hired close to 20,000 graduates. Speaking during the company’s Q4 2025 earnings call, Cognizant CEO Ravi Kumar S said the company is reshaping its talent pyramid by pushing high-value technology expertise down to early-career employees with the support of artificial intelligence. Kumar highlighted the growing non-linearity between revenue and headcount, noting that Cognizant is deliberately decoupling growth in revenues from workforce expansion. In 2025, the company’s revenues rose 6.4 per cent in constant currency terms, while headcount grew by just 4 per cent, leading to a 5 per cent rise in revenue per employee. He said the company is increasingly hiring school and college graduates, with each year seeing a higher intake than the previous one. The objective, Kumar explained, is to enable entry-level employees with advanced capabilities early in their careers, helping build a broader talent pyramid and driving efficiency at scale. Out of the 20,000 graduates recruited in 2025, Cognizant said about 16,000 are already deployed on client projects, while the remaining 4,000 are undergoing training. CFO Jatin Dalal said the company plans to scale this number by around 20 per cent in 2026, targeting an intake of up to 25,000 freshers. The company also pointed to a shift in its hiring approach, moving away from a linear model to a graded recruitment framework. This includes a premium hiring track called “Tech Wizards” for candidates from the Indian Institutes of Technology (IITs), alongside other categories such as power programmers and software engineers. Kumar said Cognizant now places greater emphasis on “learnability” rather than years of experience, arguing that younger graduates adapt faster in a rapidly evolving technology environment and require less unlearning of legacy software practices. Responding to concerns around AI-driven job losses, Kumar said while technology may eliminate outdated roles, it creates far more opportunities by modernising legacy systems and reducing technical debt across enterprises. Cognizant reported an 18.7 per cent year-on-year rise in net income to USD 648 million for the December quarter. Revenue for Q4 2025 stood at USD 5,333 million, up 4.9 per cent from USD 5,082 million in the same period last year. The company’s total workforce as of December 31, 2025, was 351,600, up by 14,800 employees compared with a year earlier. Source: PTI  

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Hindustan Coca-Cola Beverages Announces Key Leadership Appointments; Ritesh Pratap Singh Named CHRO

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Hindustan Coca-Cola Beverages (HCCB) has announced a set of senior leadership appointments as part of its push to strengthen execution across critical business functions, including supply chain, commercial operations, people, and transformation. The company has named Avinash Kant Kumar as Head of Integrated Supply Chain, Vinay Nair as Chief Commercial Officer, Ritesh Pratap Singh as Chief Human Resources Officer, Sunaina Dhanuka as Head of Strategy, and Girish Sivaraman as Vice-President, Commercial Transformation. Commenting on the leadership changes, HCCB CEO Hemant Rupani said the appointments underline the company’s focus on building robust execution capabilities and deepening organisational strength to support its next phase of growth. Avinash Kant Kumar will oversee end-to-end supply chain operations, with an emphasis on resilience, efficiency, and scalability. He brings over 30 years of experience across supply chain, procurement, and operations, and joins HCCB from Jubilant Foodworks, where he served as President. His earlier stints include leadership roles at McCain Foods, Reliance Retail, Al Foah, and Procter & Gamble. Vinay Nair, appointed Chief Commercial Officer, will lead the company’s commercial strategy and drive growth across channels and markets. With 25 years of experience in the Coca-Cola system, he has played a key role in building partnerships and expanding market presence. Ritesh Pratap Singh, the new Chief Human Resources Officer, will head HCCB’s people and culture agenda, focusing on leadership development, organisational capability, and fostering a high-performance culture. He joins from Tata Projects and has previously held senior HR roles at Tata Trusts and IHCL (Taj Hotels). Sunaina Dhanuka has been elevated to Head of Strategy, alongside her current role as Chief of Staff to the CEO. She will lead the company’s growth and transformation initiatives. Her career spans multiple roles within the Coca-Cola system across ASEAN and South Pacific regions, as well as experience with global organisations such as Unilever, Macquarie, Morgan Stanley, and Arthur Andersen. Girish Sivaraman, appointed Vice-President, Commercial Transformation, will drive HCCB’s commercial transformation efforts, focusing on go-to-market excellence, sales effectiveness, and capability building. He brings extensive experience across India and international markets, having worked with companies including Mondelez International, Pepsi, Varun Beverages, Britannia, and Vodafone. HCCB works closely with over 2.5 lakh farmers and operates 14 manufacturing plants across India, with a strong footprint in the southern and western regions of the country. Source: Economic Times

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Oracle Clarifies OpenAI Ties as AI Spending Sparks Layoff Speculation

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Oracle has issued a public statement addressing speculation around its partnership with OpenAI after analyst reports suggested that the company’s heavy push into artificial intelligence infrastructure could trigger significant job cuts. In a post on its official X handle, Oracle said that a widely cited Nvidia–OpenAI investment proposal had “no impact whatsoever” on its financial relationship with OpenAI. The company added that it remains “highly confident” in OpenAI’s ability to secure funding and honour its long-term commitments. The clarification came amid growing market chatter that Oracle may reduce its workforce by as many as 30,000 employees to help finance its expanding AI ambitions. The response followed a volatile period for firms linked to OpenAI. The Wall Street Journal reported that a proposed $100 billion investment by Nvidia into OpenAI never materialised and had stalled at an early stage. Nvidia CEO Jensen Huang later confirmed that discussions held last year were non-binding and did not progress into a formal deal. Despite Oracle’s reassurance, investor sentiment remained cautious. Shares of the software giant dropped nearly 3% to $160.06 shortly after the statement, reflecting concerns over the scale of Oracle’s exposure to the costly AI infrastructure build-out. Analysts have highlighted leverage as a growing pressure point. TD Cowen said Oracle is evaluating potential workforce reductions of between 20,000 and 30,000 roles, a move that could free up an estimated $8 billion to $10 billion in annual cash flow. The firm estimates Oracle’s long-term capital expenditure commitments linked to OpenAI — including massive data centre projects and advanced chip purchases — could reach roughly $156 billion. Oracle’s balance sheet has already expanded sharply. Analysts note the company has taken on around $58 billion in new debt in recent months to fund data centre campuses across the US, pushing total debt beyond the $100 billion mark. Since its peak in September 2025, Oracle’s market capitalisation has declined steeply, wiping out hundreds of billions of dollars in value. The strain is not limited to Oracle alone. According to Reuters, OpenAI has been exploring alternatives to Nvidia’s inference chips, holding discussions with AMD, Cerebras and Groq as it looks to lower costs and diversify its computing supply. While Oracle has not officially announced any job cuts, analysts say the situation highlights the enormous capital demands of the AI race and the growing challenge companies face in balancing long-term infrastructure investments with short-term financial discipline. With competition in AI infrastructure accelerating, investors are expected to closely watch how Oracle manages its spending, funding strategy and workforce decisions in the coming months.

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Budget 2026 Pivots to Employability-Centric Growth Strategy

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The Union Budget 2026 marks a clear shift in India’s employment approach—moving away from headline job-creation numbers to building long-term, sustainable employment conditions. The new strategy places skilling, services-led growth and sector-specific ecosystems at the centre of workforce expansion. Instead of announcing how many jobs will be generated, the government has focused on aligning education, skills and industry demand. A key proposal is the formation of a high-powered standing committee on education, employment and enterprise. This body will map skill gaps, identify high-employment service sub-sectors and evaluate how artificial intelligence is reshaping future jobs—acknowledging that traditional degrees alone no longer guarantee employability. Services and Healthcare Take Centre Stage The services sector has been positioned as the primary engine of employment, with an ambitious goal of capturing a 10% share of global services exports by 2047. Officials highlighted that services create more jobs per unit of output than manufacturing, making them critical for absorbing India’s growing workforce. Healthcare forms a major pillar of this push. The Budget proposes adding 1 lakh allied health professionals across 10 disciplines over the next five years, along with training 1.5 lakh caregivers in the coming year under geriatric and allied care programmes aligned with the National Skills Qualifications Framework. Medical value tourism hubs, Ayush institutions and expanded health infrastructure are expected to generate further downstream employment, including overseas opportunities enabled by improved labour mobility clauses in free trade agreements. Creative Economy, Tourism and Sports as Job Multipliers For the first time, the Budget formally recognises the “Orange Economy”—covering animation, visual effects, gaming and comics—as a major employment frontier. With the sector projected to need around two million professionals by 2030, the government plans to establish content creator labs in 15,000 secondary schools and 500 colleges, signalling a decisive tilt towards creative and export-oriented jobs. Tourism has been reimagined as a job multiplier, with proposals for a national institute of hospitality, training 10,000 tourist guides across 20 iconic destinations, and expanding eco-tourism, trekking, birding and heritage circuits. The aim is to generate non-migrant employment in smaller towns and rural regions. Sports is also being repositioned as a structured employment ecosystem under an expanded Khelo India Mission, encompassing not just athletes but also coaches, sports scientists, support staff and infrastructure-related roles. Education: From Schemes to Structures With an education outlay of nearly ₹1.4 lakh crore, the Budget signals a move from fragmented schemes to durable institutional structures, with a strong focus on women’s access and campus capacity. The education ministry allocation has risen 8.3% to ₹1,39,290 crore for 2026–27. School education and literacy receive ₹83,561 crore (up 6.4%), while higher education sees an 11.3% increase to ₹55,724 crore to support infrastructure expansion and research. A flagship higher-education initiative is the creation of five university townships near major industrial and logistics corridors, designed to cluster universities, colleges and research institutions close to emerging economic hubs. To boost women’s participation in STEM, the government has promised capital support for setting up at least one girls’ hostel in every district with higher-education STEM institutions. The Budget also proposes a new National Institute of Design (NID) in eastern India and expands digital learning infrastructure. Support has been announced for the Indian Institute of Creative Technologies, Mumbai, to establish AVGC content creator labs, while the Bharatiya Bhasha Pustak initiative will roll out digitised textbooks in Indian languages for primary and secondary students. On institutional funding, allocations for IITs increase to ₹12,123 crore and IIMs to ₹292 crore, while some other premier institutions, including IISc and IIITs, face relatively tighter budgets. Budget 2026 underscores a strategic reorientation—from counting jobs to creating the ecosystems that make employment sustainable, future-ready and globally competitive. Source: TOI

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