| | Facebook hires IIT-Delhi student for Rs. 65 lakh a year |
| | Social networking site Facebook will now have an employee from the Indian Institute of Technology-Delhi. After trying - and failing - to recruit students from the institute last year, Facebook came back to the campus this year and chose 21-year-old Mr.Ankur Dahiya, a student of computer science engineering. Mr.Dahiya's annual salary package is around Rs. 65 lakh. This is the first time that Facebook has recruited a student from IIT-Delhi. The social networking giant had hired a student from IIT-Chennai last year. The company, started in February 2004, has scouted for talent at many other IIT campuses in India this year. Unlike last year when it hired only two students from India, Facebook is eyeing the country as a talent hub this time around. Mr.Dahiya will be placed in Palo Alto, California as a programmer after he finishes his course next year. |
| | Source : 05-12-13 Hindustantimes.com Compiled by Amresh Anjan |
| | 87% Indian B-school grads employed this year, says GMAC survey |
| | The employment scenario for Indian management graduates of 2013 rings in optimism amid the grim economic scenario. According to a recent survey conducted by the Graduate Management Admission Council (GMAC), nine out of 10 Class of 2013 business school alumni have been employed. About 84% also report their graduate management education to be professionally rewarding. The B-school Class of 2013 also fared well overall on the job market. "As many as 87% of Indian citizens are employed this year with 83% working for an employer and 4% being self-employed. The global figure is down slightly to 90% from the 92% of last year's graduates employed by September 2012. Despite the continued economic uncertainty, 72% of the Class of 2013 alumni who landed jobs said they could not have got it without their graduate management education. This shows that despite the slow, uneven economic recovery around the world, the job outlook for business degree-holders is holding fairly steady," says Mr. Gregg Schoenfeld, director of management education research for GMAC. Regardless of their employment status, a majority of alumni from the Class of 2013 believe their education developed their skills, expanded their network, and prepared them for the job market. |
| | Source : 03-12-13 Hindustantimes.com Compiled by Amresh Anjan |
| | Mr. Neeraj Sahai appointed president of S&P Ratings Services |
| | A top Indian-American executive at Citigroup has been appointed president of Standard & Poor's Ratings Services, the world's largest ratings firm. Mr. Neeraj Sahai, 56, will assume his new role at S&P from January 6, 2014, financial intelligence company McGraw Hill Financial said in a statement. Mr. Sahai, who did his master's in economics from the University of Delhi, is currently head of Citi's Securities and Fund Services business and also acts as chief fiduciary officer of Citigroup. He succeeds Mr. Douglas Peterson, who became president and chief executive officer of McGraw Hill Financial on November 1. Mr. Peterson has taken over as chief executive of the parent company earlier this month. |
| | Source : 27-11-13 Indianexpress.com Compiled by Amresh Anjan |
| | IIT-B kicks off placement season on a high note |
| | Bucking the sluggish economy and global financial crisis, IIT Bombay has seen a 10-15 per cent hike over last year in the average salary being offered to students on the first day of campus placements. The first phase started on December 1 and will go on till December 18. The mood was upbeat on campus even as majors and blue-chip firms like Google, Microsoft, Goldman Sachs, Boston Consulting Group, Shell, Morgan Stanley, IBM, Schlumberger, Sony (Japan), Samsung (Korea), LinkedIn, Deutsche Bank, Oracle and ITC, among others, were part of the placement process Sunday. On Day One, 360 students participated in campus placements. With 230 companies registered for the first phase, 32 firms were slotted on Day One. Last year, around 240 companies had registered during the first phase and about 35 had come on the first day. The institute said companies seemed upbeat about hiring and what is significant is that the number of offers per company has been "above expectation" and has gone up as compared to last year. In the first slot itself, 90 job offers were made; an average of six offers were made per company. According to IIT Bombay's 2012-13 placement report, 173 jobs (both slots combined) were offered on the first day. |
| | Source : 02-12-13 Indianexpress.com Compiled by Amresh Anjan |
| | UK's npower to outsource jobs to India |
| | British energy major npower announced that it was cutting 1,460 jobs and outsourcing its back office operations to India, sparking outrage among employee unions. Npower said its proposed restructuring was aimed at boosting its customer service activities and would result in the closure of three sites and back office functions outsourced to India. Npower is a major integrated UK energy company. The company supplies gas, electricity and related services to residential and business customers and operates and manages a flexible portfolio of coal, gas and oil-fired power stations. The restructuring plan will involve more work being outsourced to Capita and Tata Consultancy Services, it said. Mr. Paul Massara, npower chief executive, said: "Today we have set out our proposed vision of how we would improve customer service, calling on the support of leading retail outsourcing partners". He added: "I understand that these changes would be incredibly hard for some of our employees and we'll be doing everything we can to support them over the next few months. This restructure is necessary if we are to deliver the levels of service our customers deserve". Mr. Colin Smith, the GMB union's northern region senior organiser, said, "GMB will vigorously campaign against the offshoring of jobs to India because it has absolutely nothing to do with customer service and everything to do with cost." |
| | Source : 28-11-13 Hindustantimes.com Compiled by Amresh Anjan |
| | Reverse brain drain: Young Indian professionals are returning home |
| | Amid a global economic downturn, non-resident Indians from around the world are actively looking to return home, largely because even a diminished growth rate in India — currently projected at 5.5% for 2013-14, down from about 9.3% in 2010-11 — offers greater stability than the shrinking growth rates of their adoptive economies. India's evolving corporate structure is also encouraging Indians to return home, with the added advantage of family and social networks, and their own culture and lifestyle. A study conducted by human resource and recruiting firm Kelly Services India in 2011 estimated that 3 lakh Indian professionals working overseas will return between 2011 and 2015. Estimates by the Confederation of Indian Industry (CII) suggest that about 1 to 1.5 lakh Indians have already returned to work in the country. The lack of stability and job security abroad is emerging as a key reason for the shift from aspiring to find a job overseas to working to return to a job in India. Adds Mr. Rajiv Burman, managing partner at human resource consultancy Lighthouse Partners: "With the slowdown in the global economy, there is rampant discrimination and naturally the ones to be affected the most are Asians and non-whites. This is one key factor that is pushing Indians to get back home." |
| | Source : 01-12-13 Hindustantimes.com Compiled by Amresh Anjan |
| | Déjà vu 2008: Slowdown-hit real estate stares at huge job cuts |
| | Slowdown is biting the real estate sector hard and at stake are jobs. Over the last nine months, when sales weakened and liquidity tightened, 8 percent white-collar jobs like architects, sales personnel, designers and engineers, were cut, said Mr. Lalit Kumar Jain, chairman of Confederation of Real Estate Developers' Association of India (CREDAI). Until now, the worst affected have been sales, administration and management, while labours remained unaffected. The next three months will be "critical", because if the situation does not improve, the pain will extend to the larger majority of blue-collar workers hired by the sector, said Mr. Jain. |
| | Source : 04-12-13 Firstpost.com Compiled by Amresh Anjan |
| | No question of doing contract jobs for Microsoft: Nokia Employees' Union |
| | With the prospect of Nokia's India plant in Chennai being excluded from the company's deal with U.S software giant Microsoft, the Nokia Employees' Union has spoken up, saying that its members are not open to the idea of contract manufacturing. The Delhi High Court, in November, had ordered a freeze of Nokia's India assets, putting nearly 6,500 employees of the Finnish subsidiary here in a fix. In the wake of the court order, the management indicated to them that there could be problem in transferring them to Microsoft rolls. Mr. M. Saravana Kumar, President of the union, asserted that the onus was on the management to resolve the imbroglio caused by tax-related issues. He asserted that whatever had been agreed upon under the global deal with Microsoft should be adhered to in the Sriperumbudur facility as well. |
| | Source : 03-12-13 Thehindu.com Compiled by Amresh Anjan |
| | TCS bags 1000 offshore jobs for British energy giant Npower |
| | India's largest IT service provider Tata Consultancy Services (TCS) bagged a major deal to handle nearly 1,000 offshore jobs for the British energy giant Npower as part of its restructuring. Npower, the UK arm of Germany utility RWE, said it will outsource much of its customer service and back office functions to India. TCS will oversee around 1,000 back-office jobs in India. The roles being outsourced to TCS over the next eight months includes largely administrative activity, such as checking meter readings against customers' bills. British firm Capita is the front-runner to provide front office customer management and some back-office services from February 2014, for a contract worth around 120 million pounds over seven years. About 540 existing Npower staff will be transferred to the company. Around 1,460 UK jobs will be cut as part of a major corporate restructuring and outsourcing is aimed at helping Npower cope with peak hour demands. |
| | Source : 28-11-13 Zeenews.india.com Compiled by Amresh Anjan |
| | Cognizant is hiring 10000 people in the US |
| | Nasdaq listed IT services firm Cognizant today said that it will hire 10,000 professionals in the US in the next three years. Of these, 750 will be from Texas. At present, Cognizant has a total of over 29,000 employees in the US. "Because of structural changes in business (driven by regulation, consolidation, globalization and virtualization of businesses) and emerging social, mobile, analytics and cloud technologies, we see continued demand for our business. To meet this demand, we expect to hire over 10,000 professionals in the United States over the next three years," said Mr. Gordon Coburn, President, Cognizant. Cognizant also announced a grant for three years of $150,000 to support university-sponsored science, technology, engineering and math (STEM) education programmes at Texas A&M University in College Station, Texas. "We have a technology "skills gap" in this country today. The American Society for Training and Development defines this situation as 'the point at which an organization can no longer grow and remain competitive because it cannot fill critical jobs with employees who have the right knowledge, skills and abilities.' This is America's challenge today," he added. |
| | Source : 03-12-13 Business-standard.com Compiled by Amresh Anjan |
| | Bank Unions to observe one-day strike on Dec 19 |
| | Pressing various demands, the United Forum of Bank Unions, representing employees of public and private sector banks, has decided to observe a one-day nationwide strike next month. A decision to this effect was taken at a meeting held recently, UFBU said in a statement on Friday. "The United Forum of Bank Unions deliberated at length about the anti-people policies of the government especially with regard to the banking reforms which are bound to not only hit the common people but also the resources of the country," it said. "More and more foreign banks are encouraged to open their offices in India and this may pave way for takeover of the established private banks in the country," it said. "Therefore, the UFBU has decided to launch a one-day country-wide token strike on December 19", it said. The Unions would meet again on December 23 for taking further course of action, the statement added. |
| | Source : 23-11-13 Business Standard Compiled by Amresh Anjan |
| | Infosys expands Sydney operations; to hire 85 people |
| | Even as Infosys trims its overseas headcount to reduce costs, the country's second largest software services firm today said it has opened a new branch office in Sydney and will hire 85 people. Infosys has opened a new Sydney branch office to keep pace with business growth of more than 500 percent in New South Wales (NSW) over the past five years, the company said in a statement. It expects to hire 85 new employees in NSW alone to keep up with client demand in the coming financial year, it added. Infosys currently employs about 2,600 people based across Australia and New Zealand. |
| | Source : 02-12-13 Zeenews.india.com Compiled by Amresh Anjan |
| | PSU banks stare at staff crisis |
| | Nationalised banks are likely to face a severe shortage of manpower, particularly at the senior management level, over the next three years. According to a report by McKinsey & Company, about 60-90 per cent of the deputy general managers/ general managers at PSU banks are set to retire by 2016-17. However, this number could jump to 93-100 per cent by 2020, the report said. In the next fiscal, PSU banks could face a 10-15 per cent shortfall at higher levels that include senior managers and those ranked above, initial estimates by the management consulting firm reveal. These projections come at a time nationalised banks are focussing on opening branches in rural and semi-urban centres as part of their financial inclusion programme. Further, the Reserve Bank is likely to grant banking licences to new entrants in January. This could lead to higher attrition in both PSU and private sector banks at the higher management level as the new entrants are likely to poach experienced personnel from existing lenders. |
| | Source : 01-12-13 Telegraphindia.com Compiled by Amresh Anjan |
| | U.S. jobless claims drop to 316,000 as layoffs slow |
| | The number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, a sign that workers are in less danger of being laid off. |
| | Source : 28-11-13 Hindustan Times Compiled by Amresh Anjan |
| | BT to add 400 people to AMEA region workforce |
| | BT, which was known as British Telecom earlier, said that it will add more than 400 new people to its existing workforce as part of new phase of investments across the rapidly growing economies in Asia Pacific, Turkey, West Asian countries and Africa, to ensure expansion in the growth markets. The hiring would be focussed in key markets including Australia, China, Hong Kong, India, Japan, Indonesia, Malaysia, Singapore, South Africa, the United Arab Emirates (UAE) and Turkey, BT said in a statement today. The investment is aimed at capturing opportunities in the region, which is pegged at about £32 billion, BT said, adding that the fresh hires would be additional to the 600 positions it had announced earlier this year for BT's Global Development Centre in Bangalore and to the 600 hires expected for BT's new Global Shared Service facility in Kuala Lumpur announced in April. |
| | Source : 28-11-13 Business-standard.com Compiled by Amresh Anjan |
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