It appears that CEO Sundar Pichai will take a large chunk of his salary cut amid layoffs and tough macro-economic conditions. In a recent town hall meeting with Google employees, Pichai announced that all roles above "senior vice president" level will witness a significant reduction in their annual bonus.

"All roles above the senior vice president level will witness 'very significant' reduction in their annual bonus. For senior roles, the compensation is linked to company performance," Pichai reportedly said during the town hall. While he didn't clearly talk about taking salary cut, by his words it is clear that he would also take a pay cut. Pichai didn't mention the percentage of salary that will be cut and for how long.

It is a widely known fact that the people who have studied from the premier institutions like IIT and IIMs get the best and the highest paying jobs. However, there is an Indian company that is not particularly fond of the IIT and IIM passouts. The founders of Zerodha, which is an online stock trading company, have revealed that they do not hire people who have passed out from colleges, including the IIT,IIM. While the report might astonish you, Zerodha's founder, Nithin Kamath, feels it is very tough to fit such people in its organization. 

With less than a week left for Finance Minister Nirmala Sitharaman to present the Union Budget 2023, she has received a message from the United Nations (UN). The international intergovernmental organisation has asked India to "stay the course" and be cautiously optimistic.

Christopher Garroway, an economist with the UN Resident Coordinator's Office in India, on Wednesday advised that the Budget should address issues like sustainability of the Indian economy, Indian society, and approach to environmental issues. “Make sure in the Budget, sustainability of the Indian economy, Indian society, and India's ambitious approach to environmental issues stay the course," Christopher Garroway, an economist with the UN Resident Coordinator's Office in India, said.

Automotive manufacturer Tata Motors on Wednesday posted its first quarterly profit in two years on rising demand for passenger cars as well as medium and heavy commercial vehicles. The Mumbai-headquartered company reported a consolidated net profit of ₹2,957.71 crore for the third quarter ending December (Q3FY23). 

The company had reported a net loss of ₹1,516 crore in the year-ago period (Q3FY22) and ₹944.61 crore in the previous September quarter (Q2FY23), respectively.

The parent of Jaguar Land Rover reported a consolidated revenue from operations at ₹88,488.59 crore, up 22.5% as against ₹72,229 crore from the year-ago period.

Google’s chief executive officer told employees on Monday that job cuts were made in a bid to act decisively as the company’s growth slowed.

In an internal meeting, Sundar Pichai, who is CEO of Google parent Alphabet Inc., said he had consulted with the company’s founders and board in making the decision for 6% cuts, according to remarks reviewed by Bloomberg.

“If you don’t act clearly and decisively and early, we can compound the problem and make it much worse,” Pichai said. “These are decisions I needed to make.”