Tata Consultancy Service is giving a 20% Christmas salary hike to 70% of its employees and the rest of the employees get a salary hike based on their performance. There are almost 6 lakh employees in the firm. 10-20% of the employees' salary is dependent on variable pay. TCS has planned to roll out 100% variable pay to 4 lakh employees for the financial year 2022. 

According to the source, currently, TCS has implemented a 100% variable compensation scheme for employees. According to the earlier reports, the company’s net profit for the previous quarter rose by 8%, reaching more than 10,000 crores. 

Billionaire Elon Musk said he is willing to buy Substack, a platform that lets independent writers directly and get paid through subscriptions, to compete with mainstream media.

Substack was founded in 2017 by Indian-origin techie Jairaj Sethi, Kik messenger co-founder Chris Best and former tech reporter Hamish McKenzie.

Responding to a user who suggested that Musk should buy Substack and connect it with Twitter, the Tesla and SpaceX co-founder replied that he is open to the idea.

Jio 5G is now available in more Indian cities as the telecom company is focused on fulfilling its promise of offering the latest network to across the country. Reliance Jio has already pushed out 5G in about 13 major cities as well as in 33 districts of Gujarat. Now, it has now announced that the company has successfully launched Jio 5G in 11 new cities. But, we don't think people should switch to 5G right now. Keep reading to know more.

People who are now based in cities such as Lucknow, Trivandrum, Mysuru, Nashik, Aurangabad, Chandigarh, Mohali, Panchkula, Zirakpur, Kharar, and Derabassi, will be able to experience 5G services. The company has also rolled out 5G in some of the areas where Airtel is yet to bring 5G. These areas include Mohali, Panchkula, Zirakpur, Kharar, and Derabassi. You can check the list of other 5G-compatible cities here.

Indian equity market ended higher for the second straight session today, following a firm trend in the global markets. Extending its previous day's rally, Sensex jumped 361.01 points to close at 60,927.43. During the day, it rallied 420.26 points to 60,986.68. Nifty climbed 117.70 points or 0.65 per cent to end at 18,132.30.

Tata Steel (5.86%), Tata Motors (2.42%), Larsen & Toubro (1.72%), Asian Paints (1.71%) and Wipro (1.59%) were the top Sensex gainers.

Hindustan Unilever (1%) , ITC (0.45%), Mahindra & Mahindra (0.33%) and Nestle (0.58%) were the laggards.

Inflation, which has soared in the second half of 2022, is "likely to gradually moderate" next year, but the slowdown in global growth "may act as a drag on output", Tata Sons' Chairman N Chandrasekaran has said.

The global environment has several risk factors, including the energy crisis in Europe, the battle to contain inflation to avoid recession, and ongoing geopolitical conflicts, Chandrasekaran said in a letter to Tata Group employees.

"Barring the pandemic and the global financial crisis, next year may mark the lowest global growth since the millennium began," the industry veteran warned.