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December 2016 records 7% decline in jobs over December 2015: Naukri JobSpeak Index
The Naukri JobSpeak index for Dec’16 at 1659 was 7% down from Dec 2015. The fall in the index was reflected in a decrease in hiring in key metro cities like Delhi – NCR, Mumbai and Bengaluru. Although Dec 2016 was a slow month for hiring, the Banking Industry saw a considerable uptick with jobs increasing by 14% on a YOY basis. Insurance jobs also went up by 19% in the same time period. While the IT-Software industry saw a 4% slump, the BPO industry saw a 4% gain in Dec 2016 as compared to Dec 2015. Jobs in the Telecom/ISP industry saw a 24% fall in Dec 2016 as compared to Dec 2015. Construction and Engineering jobs decreased by 32% during the same period. Oil & Gas and Power, Infrastructure jobs fell by 30% in Dec 2016 when compared to Dec 2015. While IT- Software jobs saw a drop of 5% YOY, BPO jobs saw a gain of 6% for the same time period. Sales/BD and HR saw a 9% and 7% slump respectively in Dec 2016 when compared to Dec 2015. Accounts/Finance and Production jobs decreased by 4% and 24% respectively since Dec’15. Hiring in Marketing and Advertising saw a 5% fall in the same period. Within top metros Delhi/NCR, Mumbai and Bengaluru witnessed a decline in hiring activity of 12%, 2% and 6% respectively. Amongst other metros, the jobs index recorded a growth of 5% in Hyderabad and 4% in Pune while it stayed flat in Chennai and Kolkata when comparing Dec 2016 data with Dec 2015.
Source : 17-01-17   Compiled by
Amazon India to create over 7,500 temporary jobs before sale will create well over 7,500 temporary jobs for its upcoming sale, and these positions will mostly be in logistics to ensure smooth deliveries. will host its ‘Great Indian Sale’ between January 20-22, 2017. “We have opened more than 7,500 seasonal roles for our upcoming Great Indian Sale. These roles will be available at 27 Fulfilment Centres, over 100 delivery stations and close to 15 sort centres across the country,” Amazon India Vice President — India Customer Fulfilment Mr. Akhil Saxena said. He added that throughout the year, generates thousands of seasonal job opportunities, as well as opportunities for long term career development. “Recruitment for seasonal roles is now underway and will be trained for the upcoming sale. We are excited to welcome these new personnel,” he said. Locked in an intense battle for leadership in the Indian e-commerce market with local rivals like Flipkart and Snapdeal, has aggressively invested in expanding its infrastructure and delivery capabilities. The company has invested in six new Fulfilment Centres (FCs) last year, taking the total number of operational FCs to 27 in 10 states. “The infrastructure that has been built helps thousands of sellers reach millions of new customers across the country. It has also enabled to offer faster and quicker delivery of products to more pin codes,” he said.
Source : 15-01-17   Compiled by
Amid RBI turmoil over note ban, new deputy Mr. Viral Acharya enters policy fray
Leaving behind an academic life in the tree-lined streets of New York’s west village, Mr. Viral Acharya now must confront the chaos wrought by the scrapping of high denomination notes in the world’s second-most-populous nation. The 42-year-old professor of finance at New York University’s Stern School of Business starts his three-year term as deputy governor of the Reserve Bank of India, where he’ll take on the key portfolios of monetary policy, market operations and research. With Governor Mr. Urjit Patel eschewing the spotlight since taking over from his “rockstar” predecessor Mr. Raghuram Rajan, investors will be looking to Mr. Acharya for guidance on how the RBI will get growth back on its former world-beating path. Longer term, the keen musician and expert on Indian financial markets faces the challenge of modernizing capital markets and institutions in a nation where as many as 600 million people don’t have a bank account. Mr. Acharya will take a seat on the India’s newly formed Monetary Policy Committee, which has in the past two meetings voted unanimously to cut interest rates in October and then to hold rates in December — both decisions taking markets by surprise.
Source : 20-01-17   Compiled by
Jubilant FoodWorks appoints Mr. Pratik Pota as CEO
Jubilant FoodWorks Ltd said it had designated Mr. Pratik Pota as chief executive officer (CEO). Mr. Pota will join the company by the end of February. “Mr. Pota will succeed Mr. Ajay Kaul and would assume the role and responsibilities as CEO and whole time director and key managerial personnel of the company with effect from 1 April 2017,” the company said in a statement. On 20 September 2016, Mr. Kaul resigned as CEO after working for 11 years with Jubilant FoodWorks, which operates Domino’s Pizza and Dunkin’ Donuts outlets. Mr. Kaul will continue with Jubilant till March. Mr. Pota is an alumnus of the Indian Institute of Management-Kolkata and Birla Institute of Technology and Science (BITS), Pilani. He was chief executive officer, food and beverages (company-owned operations) at PepsiCo India Holdings Pvt. Ltd, the local arm of American food and beverages company PepsiCo Inc. Before PepsiCo, Mr. Pota worked with Bharti Airtel Ltd and Hindustan Unilever Ltd. “With his rich experience and leadership, he will take the business to greater heights,” said Mr. Shyam S. Bhartia, chairman, and Mr. Hari S. Bhartia, co-chairman, Jubilant FoodWorks, in a statement.
Source : 13-01-17   Compiled by
TCS names Mr. Rajesh Gopinathan as MD and CEO
The board of Tata Consultancy Services (TCS) appointed Mr. Rajesh Gopinathan as the new chief executive officer and managing director in place of Mr. N Chandrasekaran who has been appointed as the chairman of Tata Sons, effective February 21, 2017. Mr. Gopinathan started his professional career with TCS in 2001. He was appointed as Chief Financial Officer of the company in February 2013.Prior to becoming the CFO Mr. Gopinathan was the vice president – Business Finance. TCS has also named Mr. N Ganapathy Subramaniam who is currently president, TCS Financial Solutions as the president and chief operating officer and appointed him as a director on the board of the company. “I am absolutely delighted that the board has chosen both Rajesh and NGS to lead this company into the future. I am proud of the capability they have to take TCS to greater heights. I look forward to a continued relationship with TCS and the management team,” said Mr. N Chandrasekaran, chairman-designate of Tata Sons. Mr. Gopinathan, CEO and MD, said: “TCS has evolved into an industry leader during Chandra’s tenure. It is definitely big shoes to fill. With continuous guidance from Chandra and the support of the TCS team, I am confident of continuing this great journey that TCS is on.”
Source : 13-01-17   Compiled by
Indian CEOs most optimistic amidst global gloom; hiring to boom this year: PwC Survey
Amidst existential questions over the impact of globalisation and concerns around the rising trend of protectionism, 71 per cent of India’s chief executive officers (CEOs) are very confident of their company’s growth in the next 12 months, against a global average of 38 per cent. Globally, 29 per cent of CEOs, on an average, expect economic growth to improve over the next 12 months. However, 42 per cent of India’s CEOs are optimistic of improvement in the global economy. According to an annual survey of 1,379 CEOs across 79 countries carried out by PwC — the findings of which were released at the World Economic Forum in Davos — an impressive 67 per cent of India’s CEOs (against 52 per cent globally) expect to increase headcount in the next 12 months, with just nine per cent (16 per cent globally) planning to cut their workforce. When asked to name the country’s most important for their organisation’s overall growth prospects in the next 12 months, Indian CEOs cited the US (55 per cent), followed by China (30 per cent), the UK (22 per cent) and Germany (16 per cent). Mumbai, New York and London were identified as the most important cities by Indian CEOs for their organisation’s growth. Confidence in the Indian economy is reflected in the optimism of Indian CEOs in their company’s growth. It reinstates India’s growth story, backed by the government’s reforms agenda,” noted Mr. Shyamal Mukherjee, chairman, PwC India. The survey found that CEOs worldwide feel globalisation has done little to solve income inequality — 44 per cent said globalisation has not helped close the gap between the rich and the poor.
Source : 17-01-17   Compiled by
General Motors announces $1 billion factory investment, new jobs
General Motors will make a US$ 1 billion investment in its factories that will create or keep around 1,500 jobs. The investment is part of the normal process of equipping factories to build new models, and it’s been planned for months, a person briefed on the matter told The Associated Press this week. The Detroit automaker also said that it will begin work on insourcing axle production for its next generation full-size pickup trucks, including work previously done in Mexico, to operations in Michigan, creating 450 US jobs. The company also confirmed that a supplier will make components for GM’s next-generation full size pick-up trucks in Michigan, moving 100 supplier jobs from Mexico to the U.S. “As the US manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners,” said GM Chairman and CEO Ms. Mary Barra. “The US is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.” President-elect Mr. Donald Trump has attacked GM and other automakers for building vehicles in Mexico and shipping them to the US. Earlier this month, Mr. Trump threatened on Twitter to tax GM for importing the compact Chevrolet Cruze. While GM builds hatchback Cruzes in Mexico, most Cruze sales are Ohio-built sedans.
Source : 18-01-17   Compiled by
Walmart to create 10,000 jobs, invest $6.8 billion in US
Walmart announced it will invest $6.8 billion in the United States and create 10,000 jobs in stores and e-commerce, a move for which President-elect Mr. Donald Trump quickly took credit. The investment in 59 new, expanded or relocated Walmart and Sam’s Club stores also will create an estimated 24,000 construction jobs, the company said in a statement. “With a presence in thousands of communities and a vast supplier network, we know we play an important role in supporting and creating American jobs,” said Mr. Dan Bartlett, Walmart executive vice president for corporate affairs said. “Our 2017 plans to grow our business -– and our support for innovation in the textile industry –- will have a meaningful impact across the county.” The company, which is known for inexpensive and frequently imported products, said it plans to purchase an additional $250 billion in American-made, grown, assembled and sourced products through 2023, estimated to help create one million jobs. Walmart and GM each announced investment and job creation plans, the latest in a series of companies to announce plans to do so — including Ford and Amazon — amid continued pressure, mostly via Twitter, from US President-elect Mr. Donald Trump who has threatened stiff penalties on companies that import products manufactured overseas.
Source : 17-01-17   Compiled by
Infosys releases around 2,000 employees every quarter, thanks to automation
Automation is going to take a toll on jobs and the effects can be seen. Thanks to automation, Infosys released 8,000-9,000 employees within a year. Infosys HR Head Mr. Krishnamurthy Shankar said, “We have been releasing about 2,000 people every quarter and also training them in special courses that will help them in their new assignments.” Mr. Shankar agreed that automation is set to seep in with more intensity and hiring will considerably come down. Infosys has trained nearly 490 people in a first batch of machine learning and the use of artificial intelligence. Infosys added 5,700 people in the first nine months of this fiscal, compared to about 17,000 in the same period last year. In the December quarter, Infosys’ total employee strength actually declined -an extremely rare occurrence for India’s No. 2 IT services company. The total strength fell by 66 to 1, 99,763. Sectors that will be highly impacted due to automation will be BPO, application management and infrastructure management. Wipro’s Global HR head Mr. Saurabh Govil in November had said the company released 3,200 people through automation to do more innovative work.
Source : 20-01-17   Compiled by
Air India raises employee salaries across the board
Air India Ltd will raise employee salaries this year by 2%, the highest in recent years, after it pared losses on the back of cheaper fuel prices, according to two people aware of the matter. The airline had placed a salary freeze in 2012 to balance its expenses. “In view of the operating profit of the company for the financial year 2015-16, it has been decided that yearly increment rate for all categories of permanent employees of Air India and its employees posted in subsidiaries will be applicable at 2%,” Mr. A. Jayachandran, executive director, finance said in a note to employees. The government-run carrier had earlier announced operating profit of Rs105 crore in 2015-2016, the first time since the merger of erstwhile Air India and Indian Airlines in 2007. Mr. Jayachandran said the increment will be applicable only for the financial year 2016-17 and shall be payable as per the increment date of the respective employees.
Source : 20-01-17   Compiled by
Bharti Airtel appoints Mr. Raj Pudipeddi as CMO for India operations
Telecom giant Bharti Airtel said it has appointed former Procter & Gamble executive Mr. Raj Pudipeddi as Director – Consumer Business and Chief Marketing Officer – for its India operations, effective February 6. Mr. Pudipeddi will report to Mr. Gopal Vittal, Managing Director & Chief Executive Officer (India & South Asia), Bharti Airtel. He will also be a part of the Airtel Management Board, a company statement said. In his new role, Mr. Pudipeddi will be responsible for driving market share, strengthening the Airtel brand and driving customer centric innovations within teams, the telecom services provider said. “I am confident that Raj’s wealth of experience will add fresh perspective to our initiatives to constantly innovate and delight customers. I wish him the very best for his new role and look forward to working him,” Mr. Vittal said. Mr. Pudipeddi has over 22 years of work experience with Procter & Gamble across various functions and geographies. In his last role as Vice-President – Oral Care (North America). Prior to this, he was the General Manager for Latin America and managed multiple categories across countries for the consumer goods behemoth. He is an engineering graduate from Andhra University and holds an MBA degree from IIM Lucknow.
Source : 18-01-17   Compiled by
Gujarat announces 124% wage hike for fixed-pay employees from Feb 1
The Gujarat government announced hike in salaries of its fixed-pay employees in the range of 63-124% under the Seventh Pay Commission. Effective February 1, the move will benefit over 118,000 employees of various cadre and cost the state exchequer Rs 1,300 crore annually. Announcing the decision, deputy chief minister of Gujarat, Mr. Nitin Patel said, “The state government has decided to hike salaries of fixed-pay employees from February this year. There are 118,738 government employees working as fixed-pay employees in various departments of Gujarat.” While class-1 and 2 employees’ salaries will increase by 124%, class-3 employees will see a 90% rise, while class-4 will see 63%. The pay for employees in Rs 10,500 scale will be effectively revised upwards to Rs 16,224 a month. Similarly, the salary of those in Rs 11,500 per month scale will be hiked to Rs 19,950, while those in the scale of Rs 16,500 and Rs 17,500 a monthly move up to Rs 31,340 and Rs 38,090, respectively. Also, as against previous hikes that were applicable to employees with minimum five-year work record, the latest hike will embrace even recent inductees. Apart from the hike in basic pay, employees will get a 10% rise in medical allowances, conveyance and HRA benefits. Earlier, the Supreme Court had criticised the Gujarat government for not paying salaries to the fixed-pay employees according to the rules.
Source : 18-01-17   Compiled by
Manufacturing sector suffers from considerable job loss post note ban: Study
A study assessing the impact of first 50 days of demonetisation on the manufacturing sector conducted by an organisation of manufacturers suggests considerable impact on jobs front. The study conducted by All India Manufacturers’ Organisation (AIMO) suggests that micro and small scale sectors were affected largely in the first 50 days and similar impact is going to be reported from medium and large scale industries before March 31 as the slowdown in the market that first affected the feeding sectors has spread to medium and large sectors too. AIMO said that those in the age group of 40 to 55 are the worst hit with 40 per cent job losses due to note ban, based on data till December 31. It also records that 32 per cent of the people in the age group of 22 to 30 have also lost their jobs. The report says that till December 31, some 60 per cent job loss was reported in the sector along with a 47 per cent dip in revenue on part of small scale traders, shops and micro industries. Medium scale industries with a staff strength of 300 to 700 have suffered 3 per cent job losses and 7 per cent revenue loss. Large-scale industries, with 2,000 to 3,000 employees, suffered 2 per cent job losses and 3 per cent revenue dip during the same period. The study projects 45 per cent job loss and 40 per cent revenue dip in sectors such as small and micro industries by March 31. It has also projected that the same would be 38 per cent and 29 per cent on small scale industries in the next two-and-a-half months.
Source : 17-01-17   Compiled by
Indian IT firms get jitters as team Trump flashes red card on H1B visa
US President-elect Mr. Donald Trump’s transition team has been actively considering ways to revamp a temporary visa programme used to bring foreign workers to the United States to fill high-skilled jobs, according to sources familiar with the discussions. Possibilities for reforming the distribution of H1B visas, used largely by the information technology (IT) sector, were discussed at a meeting last month with chief executives of these companies at Trump Tower, said two sources. Mr. Trump’s senior policy advisor Mr. Stephen Miller proposed scrapping the existing lottery system used to award the visas. A possible replacement system would favour visa petitions for jobs that pay the highest salaries, according to the sources. Earlier, Senator Jefferson Sessions, Mr. Trump’s nominee for the post of attorney general, had assured legislators about taking steps to push measures to curb misuse of H1B visas. These are intended for foreign nationals in “specialty” occupations that generally require higher education, which according to US Citizenship and Immigration Services (USCIS) includes, but is not limited to, scientists, engineers or computer programmers. The US government awards 65,000 every year. Companies say they use these to recruit top talent. But, a majority of the visas are awarded to outsourcing firms, sparking criticism by sceptics that say those firms use the visas to fill lower-level IT jobs. Critics also say the lottery system benefits outsourcing firms that flood the system with mass applications. The H1B visa programme tends to be more critical to outsourcing firms than US tech firms.
Source : 16-01-17   Compiled by
Mr. Satya Nadella lost one of his key lieutenants to Baidu, Microsoft’s Chinese frenemy
Back in September 2016, Mr. Qi Lu stepped down from his role as the head of Microsoft’s Applications and Services Group, citing the need to focus on healing after a nasty bike accident. At the time, it wasn’t clear whether or not his departure from Microsoft was temporary. Now, four months later, we have our answer; Mr. Lu has officially moved over to Baidu, China’s leading search engine, as Chief Operating Officer. While at Microsoft, Mr. Lu led R&D for Bing, Office, Skype, MSN, and the company’s advertising products – guiding the company in its considerable investments in artificial intelligence. Early in Microsoft CEO Mr. Satya Nadella’s reign, Mr. Lu lost a power struggle with Windows boss Mr. Terry Myerson over the direction of Bing and MSN. Later, he reportedly led the push for Microsoft to place an $8 billion bid for Slack, but the company opted instead to launch its own competitor, Microsoft Teams, at Mr. Bill Gates’ advice. In his new role at Baidu, Mr. Lu will be leading the company’s own artificial intelligence strategy, which is a big priority for Baidu as it loses digital advertising market share to China’s Alibaba online retail empire
Source : 17-01-17   Compiled by