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Hiring Goes Up By 10% In Jan-13 When Compared To Dec-12: Naukri Job Speak Index |
| The year 2013 has begun on a positive note, with job creation happening across key industry segments. According to the Naukri Job Speak Index, when compared to hiring trends of the last one year, January 2013 saw maximum movement with the overall hiring activity moving up by 10%, compared to December 2012. The study said that sectors like IT-Software, BPO, banking and oil/gas witnessed double-digit percentage growth in their hiring numbers in the last one month. In terms of the sectors, while banking, oil and gas, and BPO saw positive movement in hiring activity, telecom and insurance sectors saw dipping hiring levels with index value going down by 6% and 8% respectively in January 2013 over December 2012. Oil & Gas sector saw a 24% improvement in hiring activity while both Banking and BPO sector saw 14% increase in their hiring levels during the same time period. |
| Source : 10-02-13 Naukri.com Compiled by Amresh Anjan |
| Reserve Bank Of India Says Inflation Levels Still Too High |
| Reserve Bank of India (RBI) Governor D Subbarao said 7 percent inflation was still not a comfortable level despite the decline attained, The Hindu Business Line reports. The high levels persist because of rising income levels in rural areas, global oil prices, a high fiscal deficit and demand pressures. Growth and inflation have been decelerating simultaneously in India, a situation that is unique when compared to other emerging economies. This could be due to supply constraints and high fiscal deficits which other countries do not have to face, Subbarao said. As for those concerned with growth, the governor said their criticism was valid. However, those who are hurt by inflation also must not go unheeded. He said the Government, public institutions such as RBI and students need to go out of their way to find what is important in making decisions. |
| Source : 12-02-13 Hindu Business Line Compiled by Amresh Anjan |
| Attrition Levels Are Going Up In The Retail Sector |
| Indian retailers, big and small, are facing high personnel attrition across stores. Many are seeing almost all their staff getting replaced every year. Fast growth in organised retail and opening of new malls and stores have raised attrition levels at the shop floor to alarming levels of eight per cent a month, or 96 per cent a year, say consultants. Just three to four years earlier, attrition was only two to three per cent a month. Employees leave for several reasons. About 25 percent to 30 percent quit for higher education and an additional 30 percent for higher salaries, says Govind Shrikhande, managing director, Shoppers Stop. |
| Source : 12-02-13 Business Standard Compiled by Amresh Anjan |
| IIIT Hyderabad Students Land Plum Offers |
| Two students from the International Institute of Information Technology (IIIT), Hyderabad, have won big offers from U.S. companies. Anjali Sachdev, a BTech graduate in computer science, has been offered an annual package of Rs 70 lakh by a U.S. tech firm. Shipra Malhotra, another computer science graduate, has received an offer of Rs 54 lakh, again from a top U.S. firm. About 280 students have received offers from various IT, technology and research companies. Head of placements TV Devi Prasad expressed confidence in achieving 100 percent placements. The season still has a few weeks to go and more companies are scheduled for interviews. Starting this year, IIIT Hyderabad is charging the companies that come for recruitment. They will pay 8 percent of the annual salary of the candidates, once they have joined and their performance has been assessed for six months. |
| Source : 12-02-13 Hindu Business Line Compiled by Amresh Anjan |
| Fujitsu To Cut 5000 Jobs |
| Struggling Japanese electronics maker Fujitsu is slashing 5,000 jobs, or nearly 3 per cent of its global workforce, as it seeks to boost profitability by reshaping its computer-chip business and its overseas operations. Separately, another 4,500 workers will be shifted to other parts of Fujitsu, including a computer chip company being set up with Panasonic Corp., another languishing Japanese electronics maker. |
| Source : 11-02-13 NDTV.com Compiled by Amresh Anjan |
| ING Bank Cuts 2,400 More Jobs As Profits Plunge |
| Dutch banking and insurance group ING reported a 32.5-percent plunge in net profit last year and said that it intended to cut 2,400 jobs in its operations in the Netherlands and Belgium. The bank, which employs about 90,000 people, has so far announced 7,450 job losses since November 2011, restructuring that will save more than one billion euros per annum from 2015. |
| Source : 13-02-13 Hindustan Times Compiled by Amresh Anjan |
| BBC India Picks COO |
| BBC Global News has named Preet Dhupar COO of its Indian operations. BBC Global News comprises of the BBC's commercial news operations as well. |
| Source : 10-02-13 Financial Chronicle Compiled by Amresh Anjan |
| HCL Campus Hires Yet To Join The Company |
| The slowdown in the IT sector is taking a toll on campus recruitments. HCL Technologies, for instance, is yet to assign jobs to several graduates interviewed in September 2011 and even given offers of employment.Some of the affected students said that though the 'Letter of Intent' (or provisional offer letter) was given to them in May 2012, the company has not yet specified a joining date. The students are from various technical institutions and universities in Bangalore, Chennai and Pune. While they are still awaiting the joining date, they say they cannot apply to any other firm in the meantime because of the bond they signed when they were given the letters of intent. |
| Source : 12-01-13 Hindu Business Line Compiled by Amresh Anjan |
| More Finance Sector Job Losses As JP Morgan Cuts IT Staff |
| The finance sector is poised for further job losses, raising concerns for back office IT staff as JP Morgan plans to reduce their headcount. The company confirmed that it will cut up to 180 jobs at its Swindon office in UK. JP Morgan's Swindon office provides middle and back office outsourcing services to a client, Thread needle, which is leaving to go to another provider. |
| Source : 13-02-13 Computerworld.com Compiled by Amresh Anjan |
| The Chief Marketing Officer Of Wipro Has Quit |
| Suchira Iyer, the Chief Marketing Officer (CMO) of the IT business has resigned from the company. This comes close on the heels of the resignation of Manish Dugar who was in charge of Wipro's global BPO operations. Ms Iyer, who was heading the marketing function, quit the company to pursue interests outside the organisation, according to a company statement. She took over this role in April 2012, replacing Rajan Kohli, who heads the banking business. |
| Source : 08-02-13 Hindu Business Line Compiled by Amresh Anjan |
| Dreams Of Pilots Crash As Aviation Suffers |
| An estimated 12,000 holders of commercial pilot licences are unemployed, and the number is rising by the year. The slowdown that began some five years ago has left just six airlines in the domestic industry. Almost all the carriers have frozen hiring. Demand is high for commanders, pilots with experience, but not for newcomers or first officers. A captain may be paid about Rs 4.5 lakh a month and a co-pilot some Rs 2 lakh. Training academies charge between Rs 20 lakh and Rs 25 lakh for a one-and-a-half-year course. For multi-engine training, the price could be as much as Rs 5 lakh or more. Since type-rated first officers are preferred, such qualification could cost up to Rs 25 lakh more, still without a job guarantee. |
| Source : 03-02-13 Hindustan Times Compiled by Amresh Anjan |
| Telecom Employees Worried As Companies Exit Market |
| The fate of employees in telecom companies such as Uninor, Etisalat, Sistema Shyam Teleservices (SSTL) is hanging by a thread after the Supreme Court shot down their licences. Uninor is shutting down operations in West Bengal and employees have reportedly not been paid for months. A representative of the company said some employees had been absorbed in other regions. Two HR agencies had been commissioned to find jobs for the employees affected. Etisalat DB, which is winding up its India telecom business, has been giving salaries to its employees after the court intervened. STel had shut operations last year after losing six licences. Employees were paid two months' advance salary. Loop Telecom had also wound up operations in the country, barring in Mumbai. SSTL has said it has continued paying employees and is watching developments closely. |
| Source : 10-02-13 The pioneer Compiled by Amresh Anjan |
| Barclays Bank To Cut Jobs |
| Barclays Plc is nearing the completion of a raft of job cuts at its investment bank as part of its new chief executive's plan to streamline operations and cut costs. The scale of cuts is unclear, but analysts expect Chief Executive Antony Jenkins to announce about 2,000 investment bank jobs to be cut. Sources said there have been cuts in front- and back-office functions, and they have included fixed income, commodities, currencies, equities and advisory business areas. Barclays started the cuts just over two weeks ago, and the process is mostly complete in Asia and the United States. |
| Source : 07-02-13 The Indian Express Compiled by Amresh Anjan |
| Organisational Changes At Bharti Airtel |
| Bharti Airtel announced more changes with a new organisation structure for its Indian operations. The company has outlined a new hub organisation design for its India operations. Instead of the current three regional hubs, the organisation will now be divided into 8 hub operations reporting to a newly created position of Director - Market Operations. "The new organisation design, which will be effective March 1, is aimed at furthering the company's initiatives to build a more connected organisation, which is closer to the market place," Airtel said. |
| Source : 07-02-12 Hindu Business Line Compiled by Amresh Anjan |
| Manjushree Khaitan Appointed Vice-Chairperson At Kesoram Industries |
| Industrialist B.K. Birla's younger daughter Manjushree Khaitan has been appointed vice-chairperson and executive director of Kesoram Industries Ltd, the company said in a regulatory filing. She was a non-executive director of the company until now and had joined its board in 2001. Mr. Birla is the chairman of the eponymous group, which has interests in cement, tyre, textiles and plantations.Because of his advanced age—Mr. Birla turned 92 on 12 January—his younger daughter has been looking after the day-to-day operations of Kesoram for the past few years. His elder daughter Jayashree Mohta runs Jayashree Tea and Industries Ltd, a plantation firm. Mr. Khaitan's elevation to the post of vice-chairperson is being seen as an indication that she is likely to succeed her father at Kesoram, which manufactures tyre and cement. |
| Source : 05-02-13 Mint Compiled by Amresh Anjan |
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