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| | Young Indians struggle to find jobs: Randstad Workmonitor survey |
| | Both young and mature workers in India are struggling to find a suitable job, says the latest RandstadWorkmonitor survey. The survey which sampled over 600 Indians says, 66% of Indians say it is hard for younger workers aged 25 years and below, to find a suitable job and 79% were forced to take a job below their education level. Over three-fourth (79%) of survey respondents say it's difficult for older workers to find a suitable job and 71% of them believe older workers are often forced to take jobs below their education level. Mr. Moorthy Uppaluri, CEO, Randstad India said, "It is an interesting dilemma where companies are unable to find the right talent and candidates are unable to find a suitable job. India Inc should invest in ensuring there is a right job – candidate fit and have robust training programmes to drive employee performance. Such measures will help companies remain attractive for the work force in the long term."The survey also shows that education alone may not be enough to land many younger people their first job, with 82% of Indians saying experience is a more important factor in hiring Gen Y employees than education. |
| | Source : 29-07-13 Business-standard.com Compiled by Amresh Anjan |
| | Immigration Bill to hurt Indian firms despite US hiring spree |
| | The US immigration Bill, which could disrupt the traditional business models of Indian information technology (IT) companies such as Tata Consultancy Services Ltd (TCS) and Infosys Ltd, ironically favours firms that created fewer jobs in the US in the past decade than their Indian rivals, according to JPMorgan India. Armonk, New York-based International Business Machines Corp. (IBM), the world's biggest technology services company, has reduced its US headcount by nearly a third over the last six years, from 127,000 in 2006 to about 91,000 in 2012, according to the report. "This decline is seen despite IBM's ongoing acquisitions in the US over this period. What bears additional mention is that IBM's headcount in India has significantly ramped up over this time-frame," JPMorgan India analysts Mr. Viju George and Mr. Amit Sharma said in a 23rd July research note. |
| | Source : 23-07-13 Livemint.com Compiled by Amresh Anjan |
| | Lower growth forecast is India Inc's main worry: CII |
| | Lowering of the economic growth projection by the RBI to 5.5 per cent in the current fiscal is industry's "number one worry" as it would have serious implications on critical aspects, including job creation. "That is the number one worry because all the problems like current account deficit, in some sense, are because of the reduction in growth rates. It will impact jobs," CII President Mr. Kris Gopalakrishnan told PTI. The central bank, in its First Quarter Review of Monetary Policy today, cut the growth projection for 2013-14 to 5.5 per cent from an earlier estimate of 5.7 per cent, while keeping key rates unchanged and asking the government to take urgent steps to contain the current account deficit. The government in February estimated 6.5 per cent growth for 2013-14. "In the last two years, very few jobs have been created. Infosys used to recruit about 25,000 people annually. Last year, we hired only 5,000 engineers. It's a jobless growth, actually. So this is a concern," said Mr. Gopalakrishnan, who is also Executive Vice Chairman of Infosys. He said decision making has slowed down, which is affecting the country's economic growth. |
| | Source : 30-07-13 Thehindubusinessline.com Compiled by Amresh Anjan |
| | Wipro looks to beef up US ops |
| | American technology professionals have become a vital commodity for Indian IT services companies. TCS and Infosys have announced plans to employ American workers in large numbers. On Saturday, Wipro, India's third-largest IT services exporter, too announced its plans to beef up operations in its largest market — the US — by creating more local jobs and hiring Americans for strategic roles. Wipro seeks to gain more share in the US IT market, the world's largest. "We have to win more in the US and it has to be disproportionately more," said Mr. TK Kurien, CEO, Wipro, in an interaction with FE. This move is also being influenced by slowing US economy and immigration issues. Local hiring also reduces negative sentiments as far as Indian IT players are concerned. Mr. Kurien said, "US is the technology capital of the world and if one does not win there then it is very unlikely you will win anywhere else." |
| | Source : 29-07-13 Indianexpress.com Compiled by Amresh Anjan |
| | IT sector to hire 1.20 lakh this year: Experts |
| | The country's IT & ITeS industry would generate as many as 1.20 lakh jobs this year even as campus hiring is likely to remain subdued, experts say. While there has been a drop in campus hiring in IT sector as the industry reels under an economic downturn in the West, jobs added this year will see large hiring from the market. "Last year, the campus hiring numbers had dipped from the normal and this year, it is not going to be any different. We estimate that there will be around 1, 20,000 jobs created this year," talent assessment company Merit Trac Head of Innovation and Corporate Business Mr. Rajeev Menon said. The IT sector is set to grow by 12 to 14 percent this year, as per Nasscom estimates. Over the years, large IT companies have relied on campus hiring for large scale recruitment. However, since 2008, these companies have been trying hard to adjust to changing economic and business landscape and campus hiring has been impacted. |
| | Source : 28-07-13 Zeenews.india.com Compiled by Amresh Anjan |
| | L&T to step up hiring in Saudi Arabia |
| | Larsen & Toubro won its biggest ever overseas order in Saudi Arabia yesterday, and says that it will hire more hands in that country. The infrastructure major will also shift some of its best employees from India to the country, to execute the Rs 8,250 crore ($1.4 billion) contract for building a metro rail in Riyadh. "We have reasonable resources in Riyadh but because it is a big project, we will send some of our important resources and hire more people locally," said Mr. S N Subrahmanyan, whole-time director and senior executive vice-president (infrastructure and construction) of L&T. The total value of the project which was won in a consortium is Rs 35,000 crore. The other companies in the consortium for this global tender are Ansaldo STS of Italy, Bombardier Transportation of the UK, Impregilo of Italy, and Nesma & Partners of Saudi Arabia. |
| | Source : 30-07-13 Business-standard.com Compiled by Amresh Anjan |
| | US mortgage technology giant LPS set up facility in Hyderabad |
| | Lender Processing Services, Inc., a leading provider of mortgage processing services in the US, has set up product development centre in Hyderabad, its first office outside the US. The New York Stock Exchange-listed $2 billion Fortune 1000 company sees India as a huge opportunity to help it grow further and hopes to leverage the centre to improve its time to market. Started with 40,000 sft space and 200 employees, LPS has aggressive hiring plans. "We want to hire several hundred people. In the next 12 months, we will be hiring another 300 people," Mr. Ramesh Mirakhur, general manager, Global Technology Solutions, LPS Servicing Solutions and Technology Division, told IANS. Responsible for leading the expansion of LPS in India, he is excited about the opportunity here and is confident that the India centre will come up with new products and new features to the existing products. It will also support the company's customers in the US. |
| | Source : 30-07-13 Business-standard.com Compiled by Amresh Anjan |
| | Nestle India's top executive Mr. Vikas Ahuja joins Myntra as chief marketing officer |
| | Bangalore-based Myntra Designs Pvt Ltd, which runs the lifestyle e-commerce site Myntra.com, has appointed Mr. Vikas Ahuja as its chief marketing officer (CMO). In this role, Mr. Ahuja will be responsible for sales & marketing operations and will also spearhead the overall brand strategy at Myntra. Mr. Ahuja comes with more than 18 years of experience in sales & marketing. Prior to joining Myntra, he was the country business manager for Nestle India. He has been with Nestle for more than a decade, serving in various roles, and has worked for some of its popular brands like Bar-One, Milky-Bar, Kit-Kat, Munch, Nescafe and Maggi. Mr. Ahuja is a graduate of St. Xavier's College in Kolkata and holds an MBA degree from IIM Calcutta. "Our focus is to be the next-generation fashion destination in the country. Mr. Ahuja has an excellent track record of building and scaling businesses, and will be an asset in helping us shape and create the next phase in our evolution," said Mr. Mukesh Bansal, co-founder and CEO of Myntra. |
| | Source : 11-07-13 Techcircle.vccircle.com Compiled by Amresh Anjan |
| | Keste doubles headcount in India centre |
| | As part of its plans to expand its footprint in India and help service the Asia-Pacific region, Keste, a Texas-based Oracle software solutions and development company, has doubled the headcount at its India development centre (IDC) in Hyderabad to 120 professionals. "We will continue to hire the best talent from India. We are also experimenting with hiring graduates," Mr. Srini MSK, senior director, sales and delivery operations, Keste IDC, told Business Standard. To develop in-country and regional business, Keste had in July 2012 committed to invest $2.5 million to expand its IDC facility and grow its headcount to over 150 through 2013. Keste, which is focused on execution, delivery and support of complete enterprise software solutions, is participating in Oracle Open World Shanghai 2013 from July 22-25, 2013. The company is a platinum member of the Oracle Partner Network (OPN). |
| | Source : 22-07-13 Business-standard.com Compiled by Amresh Anjan |
| | JPMorgan to exit physical commodities biz |
| | JPMorgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street's role in the trading of raw materials comes under unprecedented political and regulatory pressure. After spending billions of dollars and five years building the banking world's biggest commodity desk, JPMorgan said it would pursue "strategic alternatives" for its trading assets that stretch from Baltimore to Johor, and a global team dealing in everything from African crude oil to Chilean copper. The firm will explore "a sale, spinoff or strategic partnership" of the physical business championed by commodities chief Ms. Blythe Masters, the architect of JPMorgan's expansion in the sector and one of the most famous women on Wall Street. The bank said it would continue to trade in financial commodities such as derivatives and in precious metals. Pressured by tougher regulation and rising capital levels, JPMorgan joins other banks such as Barclays PLC and Deutsche Bank in a retreat that marks the end of an era in which investment banks across the world rushed to tap into volatile markets during a decade-long price boom. |
| | Source : 27-07-13 Business-standard.com Compiled by Amresh Anjan |
| | Indian IT firms get more of a 'foreign' flavour |
| | It's official now. Over one lakh foreign nationals are working for Indian software companies around the world, a testimony to the industry's growing popularity abroad. The industry totally employs around three million people. "It is very significant number, and a majority of foreign employees work in the top four firms," said Mr. Som Mittal, President, National Association of Software and Service Companies. The industry will keep hiring foreign nationals as it seeks our multi-lingual support services business, he said. India's IT workforce has gone global by setting up 580 offshore development centres across 75 countries and working in 35 languages. The industry started more than two decades ago in English speaking countries, and got 90 per cent of revenues from the US and the UK. This changed over the years and revenue from both the countries is now down to 78 per cent and the balance 22 per cent comes from non-English speaking geographies. They will hire more and more people locally, said Mr. Mittal. |
| | Source : 24-07-13 Thehindubusinessline.com Compiled by Amresh Anjan |
| | Bank exams: eligibility criteria relaxed |
| | The government has relaxed eligibility criteria for the common written examination for probationary officers and management trainees at state-run banks, a populist move that will allow many more candidates to apply. The relaxations include removing the 60% limit on marks received at graduation, scrapping the computer literacy requirement and raising the maximum age to 30 from 28, the finance ministry said in a release on Monday. All graduates can apply, irrespective of the marks they get. The Institute of Banking Personnel Selection (IBPS) conducts the common written test for 20 state-owned banks (excluding State Bank of India and its associate banks) and Export Credit Guarantee Corp. of India Ltd for recruitment of probationary officers and clerks. Candidates are assigned a score that is valid for one year from the date of the examination. The candidates then have to appear for an interview if they meet the cut-offs prescribed by the banks. |
| | Source : 23-07-13 Livemint.com Compiled by Amresh Anjan |
| | Kalina lab to get 360 new recruits |
| | In a major recruitment drive that will reduce the workload on the Directorate of Forensic Sciences Laboratory (DFSL) at Kalina, 360 people will be recruited for various posts this August. The DFSL has been a key to a majority of crime cases — terrorism, rape, suicides — and forensic evidence from DFSL has played a key role in court. However, because of a staff crunch, there have been delays from the DFSL in meeting deadlines. Of the 360 posts, 123 recruits will be posted in Mumbai while the rest will be sent to DFSL centres at Nagpur, Pune, Nasik and Aurangabad. The 123 posts in Mumbai will include 30 scientific officers, 51 scientific assistants, 21 chemical analysers and 21 laboratory attendants. |
| | Source : 30-07-13 Hindustantimes.com Compiled by Amresh Anjan |
| | IIT-Kharagpur gets new director |
| | After a gap of almost one year, the Indian Institute of Technology Kharagpur today got its new director. "Mr. Partha Pratim Chakraborty has taken charge as a director of the institute after the convocation," former acting director Mr. S K Som announced here. Speaking to reporters, Mr. Chakraborty said the board would chart out a five year road-map with priority focus continuing in research. Speaking about the proposed medical education at IIT-Kharagpur, Mr. Chakraborty said the institute was looking into issues like amendment of the IIT Act to incorporate medical education. Mr. Som said that the institute was also trying to get the course approval from the Medical Council of India and it might help in avoiding the amendment, which would be a time-taking affair. At the same time the premier institute management was looking to begin the first phase of construction of the 400-bed super specialty hospital from October which would cost around Rs 230 crore. "We gave the project management contract to HCC and we hope to begin construction from October. It will take another two years to complete," Mr. Som said. "So, we will be able to begin medical course from 2016-17 session," he said. . |
| | Source : 27-07-13 Business-standard.com Compiled by Amresh Anjan |
| | Amazon to add 7000 new jobs across US |
| | Amazon said it will add 5,000 new jobs across its U.S. fulfilment warehouses, and an additional 2,000 customer service jobs. Amazon's Vice President of Worldwide Operations Mr. Dave Clark said that the company is hiring more than 5,000 people and help them continue to innovate and serve their customers. According to ABC News, the job additions are not only spurred by Amazon's growth as one of the largest online retailers, but also by new delivery services. The online shopping giant has been increasing its Local Express service, which offers same-day delivery in select markets, including Baltimore, Boston, New York City and Chicago. The company has also been testing its own grocery delivery service in Los Angeles and Seattle. The new jobs will be available at over 10 locations, including Charleston, Indianapolis, Phoenix and Chattanooga. |
| | Source : 30-07-13 Newstrackindia.com Compiled by Amresh Anjan |
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