Women in India earn a median gross salary of ₹196 per hour, 19% lower than ₹242 for men, according to the latest Monster Salary Index. Wage inequalities are the highest in IT/ITES (26%) and manufacturing (24%), but even women-intensive sectors such as healthcare and social work show a steep pay gap (21%). BFSI fares the best, with men making just 2% more. The survey also finds that the earnings gap widens with higher skill level – from zero for semi-skilled work to 30% for highly skilled jobs. It also worsens with experience, peaking at 15% after 10 years.
Hyundai is in talks to invest up to $300 million in Ola at a valuation of over $6 billion, Entrackr reports, citing undisclosed sources. The investment is strategic rather than a pure-play one, similar to the $250 million Hyundai pumped into ride-hailing firm Grab last November, the sources added. Times of India says the South Korean carmaker could pick up a 4% stake in Ola, which is looking to raise another $400-500 million as part of its Series J round. Earlier, Mahindra and Ford backed self-ride firm Zoomcar while Toyota cut a fat $1 billion cheque for Grab.
Cognizant is the latest in a series of IT firms sued for racial discrimination in the US. Economic Times reports that an American staffer has dragged the company to court over preferential treatment to Indian employees, claiming he was denied promotions and plum assignments despite winning large clients such as Papa John’s and Pepsi. The lawsuit alleges that ‘diversity candidates’ – a term used internally for American staffers – were only given roles when it was advantageous for the company due to “cultural fitment reasons.” Late last year, TCS was cleared of anti-American bias even as Infosys and Wipro have faced similar charges.
Singapore is bankrolling Bharti Airtel in its fight against Reliance Jio. The country’s sovereign wealth fund GIC will invest ₹5,000 crore and get a 4.4% stake in Bharti Airtel as part of a ₹25,000 crore rights issue. The money raised will be used to pare debt, pay for spectrum and compete for supremacy in the world’s cheapest market for mobile internet. VCCircle reports this would be GIC’s third-largest India investment after its bets on HDFC and DLF last year. Bharti Airtel’s promoters will also participate in the rights issue.
Bengaluru is India’s most forgetful city for the third consecutive year, according to Uber’s Lost and Found Index. India’s tech capital is followed by Delhi and Mumbai with phones and backpacks topping the list of things left behind in Uber cabs. People have also forgotten “outrageous” items such as live fish, kneepads and gold chains, the taxi aggregator’s data shows. Riders seem to be most careless on weekends: most left-behinds were reported during 1-3PM on Saturdays and Sundays.
Resource: Linkedin India Editorial