HR Headlines –

Deloitte just triggered talent war by poaching 300 KPMG executives
Deloitte has kick-started a movement of its own sorts by poaching nearly 300 executives from KPMG. As per reports, Deloitte is in the process of wooing away 20 partners along with their teams. Around 300 people across 20 teams will join Deloitte. “Final offers were made two days back, and about 20 partners have already put in their papers. Three more KPMG partners are in negotiations with Deloitte and they too may resign in the coming days,” said sources. Experts say the poaching will come as a big blow to KPMG. Once the recruitment is over, this will give Deloitte enough ammunition to challenge EY in the advisory practice space. Presently, Deloitte is the strongest player in the Indian auditing space and has about 55 partners in advisory. Whereas, EY has 125 partners in advisory vertical. “Currently, EY is the biggest player in advisory practice. The fight is now going to be between Deloitte and EY,” said an advisory partner with one of the big four. A KPMG spokesperson said “This (partners, executives joining Deloitte) is market speculation and as a policy we are unable to offer any comments on market speculation.” Deloitte is giving significant raise from their current salaries. “Partners would be required to serve about nine months of notice period, however one partner has been asked to serve a 12 month notice period,” said a partner in a KPMG’s rival.
Source : 14-10-16   Compiled by
Flipkart senior vice-president Mr. Anand KV exits
Flipkart has promoted Mr. Eric Lange and Mr. Sachin Kotangale to steer its customer experience unit after senior vice-president Mr. Anand K.V. who led the unit left the company, at least two people aware of the developments said. Mr. Anand K.V, who was one of Flipkart’s dozen-plus senior vice-presidents, left in August, one of the two people said. Prior to Flipkart, Mr. Anand K.V had spent over 18 years in the satellite broadcasting and television industry across the Middle East, Hong Kong and India in companies such as Star India Pvt. Ltd, Tata Sky Ltd and Hathway Cable and Datacom Ltd. Following his exit, Flipkart has expanded the portfolios of executives such as Mr. Lange and Mr. Kotangale who are now jointly leading the customer experience unit, the people mentioned above said. Another Flipkart executive Mr. Prakash Tilwani, who joined from Amazon India last year, has also put in his papers, the people mentioned above said. Mr. Tilwani was a vice-president overseeing supply chain planning and optimization. The exits come a year after Flipkart made several senior appointments and appointed former Yahoo India executive Mr. Hari Vasudev and Mr. Anand K.V as senior vice-presidents at the company, overseeing supply chain and customer experience respectively. A Flipkart spokesperson confirmed the developments. Flipkart and Amazon India are currently in the middle of a festive season showdown, with the former trying to retrieve market share lost to the latter over the past 12 months. If Flipkart manages to sustain the momentum of its successful Big Billion Days sale, the company may be able to raise more funds at its desired valuation. Flipkart’s business and advertising head Mr. Kalyan Krishnamurthy has set aggressive sales and product selection targets and is pushing top executives to meet them as part of chief executive Mr. Binny Bansal’s broader strategy of improving customer service levels.
Source : 13-10-16   Compiled by
Startups that were banned from placement process are still planning to hire IITians
A year-long-ban imposed on at least 30 startups from taking part in placement process in Indian Institutes of Technology (IITs) has not deterred them for scouting top talent from the premier institute. These banned startups are still looking forward to rope in fresh graduates from IITs. Many companies were blacklisted by the All IIT Placement Committee (AIPC) and they weren’t allowed to take part in the campus placement process because of delayed joining dates. Some startups had even cancelled offer letters. “It was unfair to ban us without issuing any warning. This ban will not prevent us from taking top talent from the IITs,” said Mr. Jasminder Singh Gulati, chief executive of NowFloats. NowFloats is still planning on hiring fresh talent from IITs. “Startups like ours need premier engineering talent to thrive in the competition and even the IIT students are looking forward to join startups like ours. Students from the IITs are reaching out to us in any case despite the official ban.” said Mr. Vinay Dalal, director of Mera Hunar. Mr. Dalal also said that famous and big startups were given a chance to explain and smaller ones weren’t. “This year, we are looking at lateral hires as we have a few positions open that need experience too.” said Mr. Vir Kashyap, chief operating officer at Babajobs. However, AIPC will not revoke the ban most probably. “We are just protecting students’ welfare. Companies have no right behaving unprofessionally with students,” said a spokesperson for AIPC.
Source : 14-10-16   Compiled by
Freecharge appoints Mr. Karthik Rajeshwaran as Director – Strategy
Freecharge, the digital payments platform of e-commerce major Snapdeal, has appointed Mr. Karthik Rajeshwaran as Director – Strategy. The company in a statement here said Mr. Rajeshwaran, with a lot of experience on working in a global start-up ecosystem, will deploy this expertise to usher-in consumer centric innovations to expand revenue across new business opportunities. Prior to his appointment at Freecharge, Mr. Rajeshwaran led global marketing and growth at Obi World phone where he was responsible for launching smartphones and crafting brand communication plans across Vietnam, Thailand, Indonesia, the Philippines and select West Asian countries. He began his career at Hindustan Unilever. He holds a management degree from the Indian Institute of Management, Lucknow, and a Bachelors in Electrical Engineering from Visvesvaraya National Institute of Technology. Mr. Govind Rajan, CEO, at Freecharge said, “We are thrilled to welcome Mr. Karthik Rajeshwaran on our team as he fits right in with the values of Freecharge and its commitment to a technology-driven consumer experience. He brings in a fresh perspective and energy to tread us in new and exciting directions. I am certain that with his insights on digital consumers and evolving digital habits will accelerate our innovations.” Speaking about his appointment, Mr. Karthik Rajeshwaran said, “With more and more of our lifestyle habits taking a digital avatar, our dependency on digital payments is unprecedented. It’s an opportune time to be in the fintech space and an even bigger joy to be part of an iconic brand like Freecharge. I look forward to embark upon this journey with Freecharge to build the most impactful digital payments ecosystem in the country.”
Source : 12-10-16   Compiled by
No job losses in India because of merger: Dell-EMC
Market opportunity in India is promising, the newly merged hardware and storage provider Dell-EMC said, asserting that it does not see any job cuts in the country. “Currently not to my knowledge, not aware of India-based anything being brought to me,” its president for enterprise business Mr. Rajesh Janey said when asked about the domestic impact of the recently announced job losses. “If the market opportunity is this huge, the customers are wanting us and the more solutions coming in, it is hard to imagine you will be cutting down your customer engagement force,” he added. Post their $67 billion merger, the combined entity called Dell Technologies has confirmed to job losses but has not specified a number. Mr. Janey said the company is looking at the country both as a market for its products and services, and also as a research and development hub. It also has a manufacturing facility near Chennai. When asked about any setback on the R&D jobs, Mr. Janey replied in the negative. There is no product overlap between the two companies, he said, hinting that each unit will continue on its individual research efforts and added the products play a complementary role to each other. Both the companies have presence in the country for long. While EMC used to employ 6,000 people, Mr. Janey refused to disclose the number of people at Dell. He said India will be third largest by number of employees for the combined entity, Dell Technologies that has a strength of 1.40 lakh people. India is also the fastest growing market when it comes to revenue growth, he said, adding that Dell-EMC had a market share of 40 per cent in both storage and all-flash drives category last quarter.
Source : 12-10-16   Compiled by
RBI’s Mr. G Mahalingam to be Sebi’s new whole-time member
The government on 7th October notified appointment of the Reserve Bank of India’s Mr. G. Mahalingam as Securities and Exchange Board of India (Sebi’s) new whole-time member. Besides chairman, Sebi has three members out of which one has been vacant since retirement of Mr. Prashant Saran in June. The existing members Mr. Rajeev Kumar Agarwal and Mr. S. Raman are currently handling the portfolios which were assigned to Mr. Saran. Mr. Mahalingam is likely to be assigned investment management division, which includes corporate bonds, mutual funds and foreign investors. Mr. Mahalingam is executive director of Reserve Bank of India. In his current role at the central bank, Mr. Mahalingam is involved in monitoring and surveillance of money, forex, government securities and derivative markets. He is MSc in Statistics and Operations Research from IIT, Kanpur and an MBA in International Banking and Finance from Birmingham Business School, UK.
Source : 12-10-16   Compiled by
Snapdeal appoints Ms. Parul Batra as Vice President – Corporate Communications
India’s largest online marketplace Snapdeal has announced the appointment of Ms. Parul Batra as Vice President-Corporate Communications. A seasoned communications professional with a career spanning over 17 years, Ms. Batra joins Snapdeal after successful stints at Google and NDTV. At Snapdeal, she will anchor the public relations mandate for the company, helping drive the company into its next phase of deeper connect with users, as it focuses on partnering them in their journey to a better life. “We are delighted to have Ms. Parul Batra join the leadership team at Snapdeal. As we move the narrative to focus on our customers and seek to engage with the next 100 million online shoppers, I am sure she will add tremendous value and help us take this vision forward,” said Senior Vice President, Corporate Affairs and Communications Snapdeal, Mr. Rajnish Wahi. “I am very excited to join the Snapdeal team, as we embark on this next phase of growth. Snapdeal with its strong customer centric focus and deep understanding of the e-commerce space, is well-poised to discern and serve the real needs of its users. I am thrilled to be part of this once-in-a-lifetime journey,” added Ms. Batra. Part of the founding team of Google in India, she held a wide range of leadership positions with the company. Before joining Snapdeal, Ms. Batra led the Consumer PR for Google across products such as Search, Maps, Android and Apps. Prior to her decade long stint at Google, she spent seven years with NDTV as a journalist and Senior Content manager.
Source : 12-10-16   Compiled by
Amazon to hire 120,000 temporary workers for holiday season Inc said it would hire more than 120,000 seasonal workers in the United States for the holiday season, 20 percent more than last year, highlighting the growing threat the e-commerce giant poses to traditional retailers. U.S. retailers such as Macy’s Inc, Target Corp and Kohl’s Corp have said they plan to hire fewer temporary workers or to keep seasonal employment levels little changed this holiday season. More than 14,000 seasonal positions were transitioned to regular, full-time roles after the holidays last year, and the company expects to increase that number this year, Amazon said. The U.S. National Retail Federation earlier this month forecast a 3.6 percent rise in holiday sales this year, with online sales expected to climb 7 percent to 10 percent. U.S. brick-and-mortar retailers’ biggest challenge in recent years has been tackling the growth of online retailers, specially Amazon, which offer the same products at lower prices and have made shopping more convenient. They are also keeping sales expectations and inventories low – and hiring light – ahead of the holiday season to avoid a repeat of last year, when unusually warm weather hit sales and piled up unsold goods.
Source : 13-10-16   Compiled by
HP to cut up to 4,000 jobs over next three years
HP Inc. said it expects to cut about 3,000 to 4,000 jobs over the next three years, as the maker of printers and personal computers continues to struggle with a subdued market, sending its shares down 1.3% in extended trading. HP, which houses the hardware business of former Hewlett-Packard Co, said in February it would accelerate its restructuring program and slash around 3,000 jobs by the end of fiscal 2016. HP chief executive Mr. Dion Weisler said the market continued to be volatile, facing pressures and uncertainties. “Our core markets are challenged and macro-economic conditions are in flux right now,” Mr. Weisler said. HP expects adjusted profit for fiscal 2017 to be $1.55-$1.65 per share. Analysts on average had expected $1.61 per share, according to Thomson Reuters I/B/E/S. Raising its quarterly dividend by 7%, HP also said it would increase its share buyback program by $3 billion. The company expects restructuring and other charges of $350 million to $500 million and the move is expected to generate gross annual run rate savings of $200 million to $300 million beginning in fiscal 2020, HP said. According to research firm Gartner, worldwide PC shipments in Q3 fell 5.7%, eighth consecutive quarter of PC shipment decline. Gartner also said that this is longest duration of decline in the history of the PC industry.
Source : 14-10-16   Compiled by
Deutsche Bank alerts managers to hiring freeze
Deutsche Bank has introduced a hiring freeze as it seeks to cut costs amid a deep strategic overhaul, said a source familiar with the matter. Germany’s flagship lender sent a memo to managers on the hiring freeze, which excludes the compliance department, the source said. Deutsche Bank’s management is working frantically to restore investor confidence by accelerating a programme of cost cutting measures following a U.S. demand to pay up to $14 billion for the misselling of mortgage securities before the financial crisis. A Deutsche Bank spokesman declined to comment on the memo but referred to an earlier statement explaining that the bank is working on an ongoing headcount reduction plan.
Source : 13-10-16   Compiled by
Volkswagen could cut 25,000 jobs over 10 years as workers retire
Volkswagen’s works council chief said the company could cut up to 25,000 staff over the next decade as older workers retire to help the carmaker achieve cost-cuts needed to revive the VW brand. The German group’s top executives have been in talks with works council leaders representing VW staff since June in an attempt to agree cost savings to fund the carmaker’s post-diesel gate shift to electric vehicles. Volkswagen is under pressure to make cuts at high-cost operations in Germany to fund this transformation, while still grappling with billions in costs for its emissions scandal. Waiting for staff to retire is a more attractive option for VW workers than actual layoffs. “We have the huge benefit of the baby boomer age groups,” VW labour boss Mr. Bernd Osterloh said in remarks confirmed by the works council. “That’s why we can also say the jobs of VW workers are safe.” Volkswagen has said tens of thousands of staff from the 1950s and 1960s baby boomer generation will come up for retirement in coming years. VW declined to comment on Osterloh’s 25,000 target, which would represent about a fifth of the company’s workforce in Germany. Analysts said the cost savings from staff cuts of up to 25,000 would be a solid start, but must be accompanied by a reduction in purchasing costs and R&D spending to ensure a turnaround of the carmaker’s operations.
Source : 12-10-16   Compiled by
7th Pay Commission: Diwali bonanza for Indian Army, jawans to get 10 per cent arrears
While the government and defense personnel are come on terms over the new pay grades in the Indian army, government has planned a Diwali gift for soldiers. As per reports, defence minister Mr. Manohar Parrikar said “pending issuance” of the pay commission notification. As per the report, soldiers will get an interim payment before October 30. It in the pending issuance of the 7th pay commission reads, “the President has sanctioned payment of arrears on ad hoc basis. Arrears will be 10 per cent of the current drawn pay (including dearness allowance) for all soldiers, calculated from January 2016.” According to the report, each solider will get a month’s salary as bonus. Administration is trying to ensure that soldiers get the designation amount before this Diwali. Armed officers are yet to receive their arrears after the revised pay commission order. New salary scales have also not been applied yet for them, while civil service employees received their dues. Arrears will be 10 per cent of the current drawn pay (including dearness allowance) for all soldiers, calculated from January 2016. Following the implementation of seventh pay commission, the army expressed their distress towards it as their recommendations were not included in the commission’s proposal. As per the army officials, the ‘anomalies’ is lower than pay parity of forces their counterparts in the police and civilian administration. Chiefs of all three forces have been pressing strongly for correction in what they consider as ‘anomalies’ in the commission’s compensation structure for forces. Service chiefs are of the opinion that till anomalies are not resolves to disability pay and pensions, the pay commission recommendations will not be implemented.
Source : 13-10-16   Compiled by
India nominates SBI’s Ms. Arundhati Bhattacharya as World Bank MD & COO
India has reportedly nominated State Bank of India chairperson Ms. Arundhati Bhattacharya as the World Bank managing director and chief operating officer’s position, but road to final selection may not be easy. India may need strong backing of US and other category 1 member countries, who have a large voting share. The selection has to be cleared by the World Bank’s board of directors, which consist of country representatives. The multilateral lender is led by a Board of Governors, made up of a representative for each of the 189 shareholder countries of the Bank, which serves as the policy-making body for the Bank. But since it only meets once a year, the Board of Governors elect a 24-person Board of Directors (also called Executive Directors) that meets bi-weekly. Mr. Mukesh Nandan Prasad at the bank represents India, Bhutan, Sri Lanka and Bangladesh in the Board of Directors.
Source : 14-10-16   Compiled by
AirAsia India rejigs management team
In a major reshuffle in its management team, budget carrier AirAsia India announced a series of appointments, including that of heads of flight operations, legal and strategy and planning. As part of the restructuring process, Mr. Manish Uppal has been elevated to the position of director of flight operations, while Mr. Praveen Sharma has been made the chief pilot (operations), AirAsia India said. In his new role, Mr. Uppal, who moved from the position of head of training and standards in the airline, will head the flight operations with improved communication, implement processes to streamline services, it said. A team of experienced and capable pilots has been identified to support the flight operations chief in ensuring smooth operations in this expansion phase, Air Asia India said, adding these positions are in line with its philosophy of promoting internal talent and meeting regulatory requirements. The airline appointed Mr. Vikram Raymund as technical pilot, Mr. Nagesh Muniswamy as recruitment pilot and Mr. Sambasivam Srinivasan as the chief pilot (training and standards). It also made appointments to some other key positions. Mr. Anurag Jain has been appointed as the head of strategy and planning, while Mr. I R Srinivas has been brought to the position of head of the People Department.
Source : 08-10-16   Compiled by
Paytm appoints ex-Citigroup executive Mr. Madhur Deora as Chief Financial Officer
India’s largest mobile payment and commerce company Paytm has announced the appointment of Madhur Deora as its Chief Financial officer (CFO) and Senior Vice President. Formerly with Citigroup Investment Banking as Managing Director, Mr. Deora brings experience in identifying new opportunities for emerging businesses and contributing to their growth. At Paytm he will also be responsible for building and managing the company’s newly formed financial services business. He has over 17 years of investment banking experience, most recently as Managing Director in Mumbai, handling Citi’s TMT and Private equity clients. An Economics student from Wharton School, he has led several important transactions in the internet space. In 2015, he also led the fund-raising discussions for Paytm with Ant Financial. “
Source : 06-10-16   Compiled by