Shout out to job seekers! Google is doubling up headcount in India
As the cloud services market in India is expected to grow 38% in 2017 to $1.81 billion, Google is planning to double its headcount in cloud business in the country. The Indian cloud market is untapped and has a potential to grow. Google wants to tap the business and fight out the competition from Amazon and Microsoft. “We are building our go-to market, which spans across segments and industries. This year we are doubling our team here and we will probably double this again as we move forward,” Mr. Mohit Pande, country head – India, Google Cloud, said. Google has invested $30 billion on its cloud platform over the past three years and will be opening its first cloud region in India this year. “India is a large market for us, also a very strategic market. We are investing a lot in India, we are opening a cloud region, we are investing in sales, marketing, customer engineering teams, professional services and partner network. We are building this ecosystem as India is a significant part of our strategy,” said Mr. Pande.
Source : 17-07-17 Businessinsider.in Compiled by www.naukri.com
Mr. Nitin Seth files suit against Flipkart, says his ouster was illegal
Mr. Nitin Seth, the former chief operating officer (COO) at India’s largest e-commerce marketplace Flipkart has served the company a legal notice over his ouster in May, claiming the way he was removed was illegal. Mr. Seth, who joined Flipkart as its chief people officer in March 2016, was one of the first senior executives to be hired under the leadership of Mr. Binny Bansal. He quickly moved up the ranks at the company, ending up as COO soon after Tiger Global’s Mr. Kalyan Krishnamurthy took over as the chief executive officer (CEO) of Flipkart in January. According to reports, Mr. Seth’s meteoric rise at Flipkart had raised eyebrows in the company. After joining as the head of the human resources (HR) department, he was seen as the second in command after Mr. Krishnamurthy himself, heading some of the most important business units such as Ekart. Mr. Seth also weighed in on strategy. The development is yet to be confirmed by Flipkart. Mr. Seth’s appointment to the position of COO came at a time when Mr. Krishnamurthy was reportedly involved in testing waters in the company by having loyal deputies in all key positions. The stepping down of a few veteran engineers at Flipkart too was seen as an act of allegiance to the founders or people who Mr. Krishnamurthy couldn’t trust.
Source : 13-07-17 Business-standard.com Compiled by www.naukri.com
Good news for CPSE employees; Cabinet clears 15 per cent hike in salaries
In a major news for the CPSE employees, the Cabinet cleared 15 per cent hike in their salaries. The decision to hike the salaries of public sector employees was taken during a Cabinet meeting headed by Prime Minister Mr. Narendra Modi. The Cabinet approved implementation of the recommendations of the 3rd Pay Commission for central public sector enterprises’ (CPSE) employees, an official said. The 15 percent hike was proposed by the commission earlier, is the lowest increase so far and will be effective from January 1, 2017. The previous commission had given a 37.2 per cent rise in 2007 and the first commission had given between 24 per cent and 30 per cent increase. Apart from this, the Cabinet also permitted the group of ministers on disinvestment, headed by Finance Minister Mr. Arun Jaitley, to decide on the pricing of CPSE ETFs and their composition, like the inclusion of shares of listed financial institutions. The Cabinet Committee also authorised an alternative mechanism to decide on the inclusion of stocks of listed insurance companies and banks, as per the official statement released. Under the ‘alternative mechanism’ for disinvestment, the group that includes the Finance Minister, Road Transport Minister Mr. Nitin Gadkari and the concerned administrative minister, so far decided on the quantum of minority stake sale in PSUs. The CCEA also permitted the ‘alternative mechanism’ to take decision for divestment of listed CPSEs through Exchange Traded Funds (ETFs), subject to government retaining 51 per cent in these CPSEs.
Source : 20-07-17 Financialexpress.com Compiled by www.naukri.com
Staff who got jobs on fake caste certificates to be sacked: Government
Employees who have got job on the basis of fake caste certificates are to be sacked from the government service, Union minister Mr. Jitendra Singh said. In order to discourage unscrupulous activities, state governments and union territories have been asked to initiate disciplinary proceedings against the errant officers who default in timely verification of caste certificates or issue false certificates, he said. The central government had in 2010 undertaken an exercise to collect information about appointments secured on the basis of false/fake certificates. An instruction had also been issued on June 1, 2017 to all departments to collect such information and send consolidated report on this to personnel ministry with details of action taken report thereon. Mr. Singh, Minister of State for Personnel, Public Grievances and Pensions, said extant instructions provide that if it is found that a government servant had furnished false information or produced a false certificate in order to secure appointment, he should not be retained in service. “Thus when an appointing authority comes to know that an employee had submitted a false/fake caste certificate, it has to initiate action to remove or dismiss such an employee from service as per the provisions of relevant service rules,” he said in a written reply to the Lok Sabha
Source : 19-07-17 Hindustantimes.com Compiled by www.naukri.com
TCS tops list of IT companies with crorepati executives, 91 employees earn over Rs 1 cr in FY17
Tata Consultancy Services paid over Rs 1 crore in salary to 91 India-based employees in fiscal 2017 way ahead of rivals Infosys and Wipro. As for competitors, Wipro paid 61 employees over Rs 1 crore, while Infosys paid 51 execs over a crore in salaries. Of the 91 TCS employees, 22 have been with the company throughout their careers, while 13 joined this year. Former TCS Chief Executive Officer (CEO) Mr. N Chandrasekaran, currently Chairman of Tata Sons, was recruited through a campus placement in 1987. Top TCS life timers include TCS’ human resources head Mr. Ajoyendra Mukherjee, who has a gross salary of Rs 4.65 crore. The head of retail, consumer products, transport and hospitality Mr. Pratik Pal earned Rs 3.44 crore. Debashis Ghosh, head of manufacturing, life sciences, and energy, earned Rs 3.29 crore. It must, however, be noted that TCS has over 380,000 employee as against 200,000 at Infosys and over 180,000 at Wipro.
Source : 20-07-17 Moneycontrol.com Compiled by www.naukri.com
U.S. boosts seasonal worker visas
The Trump administration announced an increase in seasonal worker visas that U.S. resorts depend on, but the move halfway through the summer is unlikely to alleviate a nationwide shortage. Holiday vacation destinations around the U.S., including President Mr. Donald Trump’s own Mar-a-Lago country club in Florida, depend on tens of thousands of temporary workers in the summer and winter, many of them young people from Eastern Europe and Asia. Some 66,000 ‘H-2B’ visas were allocated for this summer, and resorts from Maine to Florida along the U.S. east coast have complained they don’t have enough. On Monday, the Department of Homeland Security (DHS) said it would allow another 15,000 workers this fiscal year, but only for businesses “likely to suffer irreparable harm” without them. Given the 30-60 day processing time, the move is unlikely to help many, tourism officials said. The DHS blamed the lateness of the move on Congress’s slow action to approve a budget, finalised only in May.
Source : 18-07-17 Thehindu.com Compiled by www.naukri.com
Ahead of privatisation, Air India mulls massive staff layoff with voluntary retirement provision
Air India is drawing up a proposal to offer voluntary buyouts to just over a third of its 40,000 employees, a senior company official said, one of the largest such offers in India’s state sector, as the carrier slashes cost ahead of a 2018 sale. The official said the state-owned airline had also put fleet expansion on hold, scrapping a proposal to lease eight Boeing 787 wide-body aircraft. Air India’s board approved the proposal in April but nothing further had been done. India’s flag carrier is on the block after Prime Minister Mr. Narendra Modi’s cabinet last month approved plans to privatise the loss-making airline – selling part or all of the company and ending decades of state support. Founded in the 1930s and known to generations of Indians for its Maharajah mascot, Air India has a complex fleet, too many staff relative to its peers and $8.5 billion in debt. Since 2012, New Delhi has injected $3.6 billion to keep it afloat. An official in Mr. Modi’s office said the leader, under pressure to cut spending and boost basic infrastructures like ports and roads, is in “no mood” to provide fresh monetary assistance to any loss-making public sector company. The official said that top bureaucrats in the civil aviation ministry and at Air India had been asked to present a report on how a Voluntary Retirement Scheme (VRS) could be offered to about 15,000 of Air India’s 40,000 staffers, including contractors. “Nothing has been finalised but our aim is to make the strategic sale as simple as we can,” said a second top official in New Delhi, involved in the airline’s daily operations, adding that any fresh investments would be put on hold.
Source : 18-07-17 Newindianexpress.com Compiled by www.naukri.com
Uber’s former top PR person, Ms. Rachel Whetstone, is joining Faceboo
The former Uber executive who led the company through a months-long public relations crisis is joining Facebook. Ms. Rachel Whetstone, Uber’s former head of communications and policy, left the ride-hailing giant in April amidst a firestorm of negative publicity, including high-profile allegations of sexual harassment within the company that ultimately led to the resignation of CEO Mr. Travis Kalanick. Now she’ll be Facebook’s VP of communications for WhatsApp, Instagram, and Messenger, according to a report. She’ll report to the social networks’ global VP of comms, Mr. Caryn Marooney. Ms. Whetstone joined Uber in 2015 after overseeing communications at Google, and she brings a wealth of expertise to help Facebook navigate the tricky policy questions surrounding its plans to monetize its messaging apps around the world.
Source : 18-07-17 Businessinsider.in Compiled by www.naukri.com
Infosys sees top level exit, executive vice president Ms. Ritika Suri quits
Ms. Ritika Suri stepped down as Infosys executive vice president. She was one of the top-paid executives who joined Infosys CEO Mr. Vishal Sikka’s team. Ms. Suri, who was brought on board by Mr. Sikka from SAP, earned more than Rs 5.1 crore in gross salary in FY17. She was in charge of Infosys’ corporate development and merger & acquisitions. She helped set up the company’s $500 million venture fund which has since written down about a third of the $45 million is has deployed. Also, Ms. Suri led the acquisition of Israeli automation company Panaya, which was at the centre of a whistleblower letter and a later investigation. However, Infosys says it has been cleared by an independent investigation into alleged improprieties in its acquisition of Panaya and ecommerce platform Skava.
Source : 18-07-17 Businessinsider.in Compiled by www.naukri.com
L&T Infotech faces talent crunch in US, focusses on hiring in India
As pressure mounts on IT companies to hire more in the US, L&T Infotech says it will stick to its onsite ratio of 24 per cent and focus more on hiring people in India. “This year we have said we will hire around 1,500 freshers and maybe up to 1,000 laterals (both in India and overseas). And I am not going to increase my onsite ratio. So, we will hire some locals for onsite but predominately bulk of the hiring will happen in India,” Mr. Sanjay Jalona, CEO at L&T Infotech said. Mr. Jalona said that while in the past most of the onsite engineers were Indians sent on H-1B visas, there will be more of locals working at onsite locations as the company tries to do more work through the offshore operations. “So 24 per cent I am saying don’t change the onsite ratio. The same percentage of people will get hired in the US and obviously we want to hire more number of locals. Suppose you are hiring 5 people out of 60 (posted onsite) in the past locally, now you may want to hire 25 people out of 50,” Mr. Jalona said. He said hiring in US, however, remained a challenge as there is not enough talent available locally there. “Of course, we are facing problems; that is why we won’t have our onsite workforce from the US — because there is no talent available there. We are using technologies like video conferencing, which has become cheaper and a whole lot of other options. Using these technologies we do more work even offshore,” Mr. Jalona said.
Source : 18-07-17 Thehindubusinessline.com Compiled by www.naukri.com
Economic Affairs Secretary Mr. Subhash Garg nominated to RBI’s central board
The RBI said Economic Affairs Secretary Mr. Subhash Chandra Garg has been nominated to its central board of directors. Mr. Garg replaces his predecessor Mr. Shaktikanta Das, who retired after an extended tenure on May 31. The government has nominated Mr. Garg as a director to the Central Board, the RBI said. The Reserve Bank’s affairs are governed by the central board of directors, which is appointed by the government. A 1983 batch IAS officer, from the Rajasthan cadre, Mr. Garg was World Bank executive director for Bangladesh, Bhutan, India and Sri Lanka prior to this appointment. He had assumed charge as Economic Affairs Secretary on July 12. He has widespread administrative experience with more than 30 years of service during which he handled key assignments, including administrative postings in his home state Rajasthan, a finance ministry statement had said. He has also worked at the Cabinet Secretariat where he held the position of joint secretary and additional secretary from February 2012 to December 2013.
Source : 14-07-17 Newindianexpress.com Compiled by www.naukri.com
7th Pay Commission: Central jobs get more lucrative with revised payscale and appraisal cycle
7th Pay Commission is proving to more lucrative for the Central Government Jobs Employees and those who are going to join Central Jobs by clearing the recruitment process. As per government, 7th Pay Commission will be the final Commission and the salaries of the Central Government Employees will be enhanced and revised on the yearly basis. Sources suggested that the salary revision will be done on the basis of inflation in the economy. The government will make the adjustment in the allowance every year for making balance in the price. The pay commission has now released 58 important concordance tables, which will The pay commission has now released 58 important concordance tables, which will act as an instant estimator for the Central Government Employees whose salary will be revised in July. After getting the recommendation from the Cabinet on the 7th Pay Commission, It has been communicated that revised allowance and the HRA would be applicable from July onwards. All the central government employees are not glad as they wanted that all the arrears to be paid from July 2016 onwards. Employee unions is trying hard and continuously discussing the issue with the government.
Source : 17-07-17 India.com Compiled by www.naukri.com
It is raining tech jobs in US; Tech Mahindra set to go on hiring spree in 2017
Amid the US President Mr. Donald Trump administration’s call for the creation of jobs in the country, one of the world’s leading IT companies Tech Mahindra is planning to hire 2,200 people in the US this year. Ever since Mr. Donald Trump was elected the President of US, the rules regarding jobs for foreigners has become strict in the states. President Mr. Trump believes that the jobs created by American companies should be given to the Americans first. Even as Mr. Trump was making this clear to all, the Mumbai-based company – which presently has over 6,000 people working for over 400 clients in the US – announced the plan to hire more people. Tech Mahindra’s President (Strategic Verticals) Mr. Laxman Chidambaram was quoted as saying that similar to last year the company plans to hire about 2200 people this year as well. Speaking on the reasons for increasing the pace of recruitment in the United States, he said, “That has happened because the message from the US government is very clear that they would like us to play a bigger role here (in terms of employment).” He added that besides this is some work done related to digital technologies for which the locals are needed. As per the report, currently, America is the largest market for Tech Mahindra. The company operates out of 28 cities in the US. There are also 16 development centres in the United States. The company has more than 1.17 lakh employees worldwide.
Source : 17-07-17 Financialexpress.com Compiled by www.naukri.com
Morgan Stanley to shift 200 jobs to Frankfurt, prepare for post-Brexit EU
Morgan Stanley has picked Frankfurt as a new temporary hub to operate in the European Union when Brexit takes effect. The New York investment bank will double staff in the German city from 200 to 400 in order to be ready to continue to operate in Europe by the March 2019 deadline for Brexit to take effect. “It’s a short-term solution,” the person said, familiar with the matter said, adding that Morgan Stanley executives continued to consider other cities for its long-term headquarters. Morgan Stanley currently employs about 5,000 people in London but will relocate some traders as well as marketing and administrative staff to Frankfurt. The bank also plans to shift a smaller number of banking and trader jobs to Paris, Dublin, Madrid and Milan, the person said. Morgan Stanley plans to later take a decision on the permanent headquarters for the EU operations. French President Emmanuel Macron, among other European leaders, has been actively trying to lure bankers to Paris for the post-Brexit era. Frankfurt has already been picked as the EU headquarters by Standard Chartered and Nomura.
Source : 20-07-17 Business-standard.com Compiled by www.naukri.com
Mr. Vikram Limaye takes over as NSE chief, insists he will get to the bottom of co-location issue
Mr. Vikram Limaye, the new Managing Director and CEO of the National Stock Exchange (NSE), who took charge, said he would get to the bottom of the co-location issue, engage in active dialogue with SEBI to resolve it, and then move to launch the exchange’s IPO. In his address to NSE employees, Mr. Limaye advised them to leave legacy issues behind and focus on the future. The NSE has been fighting allegations of giving preferential access to brokers at its co-location facility, used for algorithmic trading. The allegations were first levelled by a whistle-blower in 2015 but were never acknowledged by the bourse until an inquiry was ordered by SEBI in 2016. The exchange is also in a tight spot after it faced a three-hour shutdown of its trading systems this month due to a “technical glitch”. “Siemens, Toyota, Arthur Andersen, Wells Fargo and many more such top-quality international institutions have undergone a difficult phase but only those who acknowledged the problem and worked towards resolving it survived. Some of these organisations have handled crises better than others,” said Mr. Limaye. Asked how he would handle the exchange, Mr. Limaye said: “The crux lies in providing high-quality technology and risk management. These are the two most important elements for a successful exchange.”
Source : 17-07-17 Thehindubusinessline.com Compiled by www.naukri.com
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