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Big Tech continues to hire in India even as local majors downsize
Despite global layoffs, FAAMNG companies are expanding their India headcount, growing by 16% in the past year, driven by demand for AI, cloud, and cybersecurity skills. While Indian IT firms face workforce reductions due to skills mismatch, Big Tech's India-based global capability centers are increasing hiring for high-end work and innovation.
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Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Delhivery posted a 68.5% rise in net profit in the April-June quarter on the back of operational efficiency. This and more in today's ETtech Top 5.
Happy Friday! Banks are scrambling as the government cut incentive on small-value UPI transactions. This and more in today’s ETtech Morning Dispatch.
Tech Bytes
Former senior engineer pens what it was like to work at OpenAI
According to Calvin French-Owen, an engineer working on OpenAI's coding agent Codex, OpenAI has grown quickly, and so it’s natural for aspects like communicating as a company, reporting structures, shipping products, managing people, and the hiring process to break down. French-Owen said OpenAI is very "bottoms-up," especially in research, which makes it very meritocratic.
IISc researchers develop bacteria to repair bricks in space; samples to be sent onboard Gaganyaan
A sample of the bacteria may now be sent to space as part of the Gaganyaan mission to study its behaviour in microgravity. With India planning future manned lunar missions, this development could play a crucial role in developing sustainable, self-repairing habitats on the moon.
Bolstered by streaming, recorded music revenues rose for tenth year in a row in 2024: Report
Streaming continued to lead growth, generating $20.4 billion, and accounting for 70% of the industry’s total earnings, while physical music sales saw a slight decline after three years of growth.
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