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| Hiring Activity sees 21% rise in October 2018 as compared to October 2017: Naukri JobSpeak |
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| The Naukri JobSpeak Index for October 2018, at (2,088), marked a 21% rise in hiring activity from October 2017 (1,728). Diwali was celebrated in the month of October 2017 unlike 2018. Thus, the year on year analysis of the index numbers for October 2018 (2,088) and October 2017 (1,842) reflects the significant growth of 21% in hiring activity. The IT industry has been on a hiring spree in October 2018. The industry clocked in double digit growth in hiring, making it one of the fastest growing industries. Recruitment activity across Human Resource witnessed a positive growth of 28%. An increase in demand of 24% was observed for entry level candidates with experience between of 0-3 years. Hiring activity in the metropolitan cities saw positive growth with both Chennai and Delhi clocking in a rise of 23%. Commenting on the report, Mr. V. Suresh, Chief Sales Officer, Naukri.com said, “The Jobs Speak index continues to sustain the momentum gained and surge ahead with an impressive 21% growth in October. Good to see the healthy growth across cities and sectors. Looks like good times ahead for the jobseekers.” |
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| Source : 12-11-18 Naukri.com Compiled by www.naukri.com |
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| Walmart to lay off 200 at Jabong, merge it with Myntra |
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| Days after announcing that Myntra and Jabong would be rolled into Flipkart following Mr. Binny Bansal’s resignation as group chief executive, Walmart is set to carry out a massive layoff at Jabong and integrate the online fashion retailer completely into Myntra. The Jabong layoffs are expected to be announced at a town hall. Jabong currently has 600-700 employees, a majority of whom are expected to be retained and will become employees of Myntra. About 150-200 employees are expected to be laid off, they added. The Jabong site will continue to run, but the traffic from the website will be directed to Myntra, after the merger with Myntra is completed. While Myntra has been growing fast, Jabong has struggled to expand sales this year. Myntra had bought Jabong in July 2016 from Rocket Internet for $70 million, primarily to avoid a rival buying it. |
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| Source : 16-11-18 Livemint.com Compiled by www.naukri.com |
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| Swiggy to hire 2,000 women delivery personnel |
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| Online food delivery company Swiggy is poised to recruit 2,000 women delivery personnel by March 2019. Currently, the company employs over 60 women as delivery partners across 10 different cities including Kochi, Pune, Ahmedabad, Kolkata, Nagpur, and Mumbai. Mr. Sachin Kotangale, VP (Operations), Swiggy, said, “As we expand our delivery fleet in a conscious and sustainable manner, we not only want to continue an industry best delivery experience for our consumers but also enable sustainable earnings for our partners with each of them doing more orders with us.” A company spokesperson also stated that the company has been working towards onboarding women and training them for relevant opportunities in this growing sector. It is also reported that to make the working environment safe, the company will identify ‘safe zones’ for women to operate in and encourage them to complete their deliveries by 6 pm. Swiggy would also strengthen its women leaders and managers in operations and logistics teams across the country. |
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| Source : 15-11-18 Peoplematters.in Compiled by www.naukri.com |
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| IIM Calcutta records 100% placements |
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| IIM Calcutta, one of the premier B-Schools in India and the first IIM to be set up in 1961, has concluded its Summer Placements for the Class of 2020 with more than 120 companies participating in the process. Summer Internship is a mandatory part of curriculum of the flagship PGDM course at IIM Calcutta that allows students to gain an exposure to various opportunities in corporate world before making a final career decision. The remarkable part of the summer internship process is the mentoring from second year students in the months prior to this process. The campus saw 100% of the candidates being recruited in a little over two days. There were 458 candidates who had opted for summer internship in the 55th batch (Class of 2020). IIM Calcutta retained its crown as the Finance Campus of India with the highest number of offers (26%) coming from Banking and Financial Services domain. Citibank was the largest recruiter in the sector. Other prominent names recruiting from the campus were Bank of America Merrill Lynch, Barclays, Credit Suisse, Goldman Sachs among others. Consulting sector continued to demonstrate its confidence in recruiting from IIM Calcutta with 100+ (22%) accepted offers during the placement process. Boston Consulting Group was the largest recruiter in the sector with other notable firms such as McKinsey & Co., Bain & Co., A.T. Kearney and Alvarez & Marsal making offers to the candidates. |
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| Source : 08-11-18 Hindustantimes.com Compiled by www.naukri.com |
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| Infosys to give 3-5% salary hike to senior level executives, 170 could get promotions |
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| Throwing no surprises, salary increments for senior executives at India’s top tech service giant, Infosys, are going to be muted this year too. Just like last year, this year’s salary hike, which is expected to be rolled out in January, will also range from 3-5 per cent. The performance-based increment policy at Infosys this year is likely to be more inclined towards encouraging digital contracts. There are over 500 senior level executives at Infosys, who are also called title holders and include ranks like associate vice presidents (AVPs), vice-presidents (VPs), senior vice-presidents (SVPs) and executive vice-presidents (EVP). Of the total chunk of the senior employees, as many as 170 could be given promotions, and SVPs may even get restricted stock units (RSUs). The IT industry is on the cusp of major changes due to newer digital technologies coming in, and companies like Infosys are focusing more on performance-linked incentives rather than handing out incentives on the basis of revenue and operating margin. The company’s focus on selling digital services than legacy work stems from the fact that digital contracts, despite low margins, are in high demand. Experts think Infosys and other companies need to address this bias among the senior employees for legacy work than digital if they want to remain in the game. |
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| Source : 09-11-18 Businesstoday.in Compiled by www.naukri.com |
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| Women on Maternity leave to be paid 50% salary of 14 weeks: Centre |
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| Taking note of several reports which indicated a decrease in the recruitment of women workers owing to an increase in maternity leaves, the government has decided to pay 50 per cent of the salary of 14 weeks to women on maternity leave. Earlier, under the Maternity Benefit Act, women were given paid leave for 12 weeks which was extended to 26 weeks after an amendment in March 2017. Taking off some monetary burden from the employers, the government decided to dutch in by paying 50 per cent salary to women on maternity leave for the extended 14 weeks. According to Women and Child Development Ministry sources, the Labour Ministry where it was proposed that the unutilized amount of cess will be used to reimburse the maternity benefit. As per 28th report of the Standing Committee on Labour on “Cess funds and their utilization for workers’ welfare”, Rs. 32,632.95 crore has been collected as cess out of which Rs. 7,516.52 crore has been utilized as on March 31, 2017. “The pending amount has been decided to be utilized for the maternity benefit scheme. The disbursement of the amount will be done by the state authority under the direction of the Labour Ministry,” a WCD official said. |
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| Source : 15-11-18 Ndtv.com Compiled by www.naukri.com |
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| Apple appoints Nokia’s Mr. Ashish Chowdhary to lead India operations |
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| Apple has appointed Nokia’s Chief Customer Operations Officer Mr. Ashish Chowdhary as operation head for India to oversee the sales function. Mr. Chowdhary had joined Nokia in 2003 and will take responsibilities in Apple from January 2019. Apple CEO Mr. Tim Cook had recently said how the company has a “long-term focus on the market” in India. Mr. Chowdhary, replacing the company’s current India operations head Mr. Michel Coulomb could be a move in this direction. Over the last few months, Apple has lost major market share to new players like OnePlus. The company’s market share in India has decreased to just 1 per cent. Apple’s decision to hire Mr. Chowdhary proves that the company is looking for long-term growth in a price-sensitive economy where its products are usually bought by those who have high spending capacity or can afford older generation phones for feasibility. Nokia said, ” Mr. Chowdhary will continue to lead Customer Operations and remain a member of the Nokia Group Leadership Team until the end of 2018. He will then leave Nokia to take a leadership position in another company.” Mr. Chowdhary holds a Master’s degree in Business Administration from the Wharton School, the University of Pennsylvania in Philadelphia, Master’s degree in Computer Science from the Emory University, Atlanta and an undergraduate degree in Mathematics from the University of Delhi in India.bus |
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| Source : 13-11-18 Businesstoday.in Compiled by www.naukri.com |
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| Ex-IndiGo boss Mr. Aditya Ghosh appointed Oyo’s new CEO |
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| Oravel Stays Pvt. Ltd, which owns and operates budget hotel chain Oyo Rooms, appointed IndiGo’s former president and chief executive officer (CEO) Mr. Aditya Ghosh to lead its operations in India and South Asia. Mr. Ghosh, who spent more than a decade heading India’s largest airline IndiGo (InterGlobe Aviation Ltd) and resigned in July this year, will report to Mr. Ritesh Agarwal, founder and Group CEO at Oyo Hotels and Homes, the company said. Mr. Ghosh, who has a corporate law background, is one of the most sought-after top executives in India’s corporate ecosystem. His stint at Oyo, which will begin on 1 December, is in line with the strategy at Oyo, which has over the years carefully built a strong base of c-suite executives, including chief human resources officer Mr. Dinesh Ramamurthi, strategy officer Mr. Maninder Gulati, chief operating head Mr. Abhinav Sinha, growth head Kavirut, and chief of business development Mr. Anuj Tejpal. “As we grow our business, we feel it is essential to continue to invest in building one of the most influential leadership teams and bringing in professionals with an entrepreneurial mindset and from diverse backgrounds, that can help lead the next wave of growth at Oyo Hotels,” said Mr. Agarwal. |
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| Source : 16-11-18 Livemint.com Compiled by www.naukri.com |
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| Walmart may abolish Flipkart Group CEO post as Mr. Binny Bansal exits |
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| Walmart Inc.-controlled Flipkart, which saw its co-founder and group chief executive Mr. Binny Bansal resign earlier this week over an investigation into “personal misconduct”, may abolish the position of Group CEO and retain the new structure it put in place after Mr. Bansal’s exit. A key factor driving the decision is the likely spinning-off of Flipkart’s payments arm PhonePe into an independent company. PhonePe will remain majority-owned by Walmart but will raise funds from other investors, the people said. Both Tiger Global Management and Tencent Hodings Ltd, which are shareholders in Flipkart, have expressed interest in funding PhonePe, they said. PhonePe will seek at least one external investor to secure the large amount of capital it needs to take on Paytm, the person added. Paytm is India’s top digital payments firm. As part of the new structure, PhonePe co-founder and CEO Mr. Sameer Nigam is reporting directly to the board of the Flipkart Group—like Flipkart CEO Kalyan Krishnamurthy. |
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| Source : 16-11-18 Livemint.com Compiled by www.naukri.com |
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| Ola’s Chief People Officer Mr. Susheel Balakrishnan calls it quits |
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| Mr. Susheel Balakrishnan’s short stint of six months comes to end as he resigns from his post of Chief People Officer at ride-hailing app Ola. An HR veteran with an experience of more than 27 years, he had joined the company in April and had replaced Mr. Yugantar Saika to lead the HR function. Before joining Ola, he has worked as Chief People Officer at MENAPak, which runs Yum! Foods. He has also worked in Procter & Gamble for over a decade as HR Associate Director. The reason behind his short tenure is not clear yet. 2018 has been a year filled with senior exits and resignations for Indian origin online transportation network company Ola. In May, COO, Mr. Vishal Kaul resigned from the post. Then later, in September, Mr. Saikaran Krishnamurthy, Senior Vice President of Growth at Ola and Mr. Joy Bandekar, Corporate President of new initiatives at the firm had resigned. |
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| Source : 12-11-18 Peoplematters.in Compiled by www.naukri.com |
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| PwC India to invest Rs 1 bn in digital services, hire 1,000 people in 3 yrs |
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| Professional services firm PwC India announced an investment of Rs 1 billion towards the development of digital solutions and is expected to hire a thousand digital technology experts over the next three years, in order to strengthen their capabilities to deliver tech solutions that will help clients address real-world business challenges. This will be in addition to ongoing investments towards innovation, digital research and development, and talent for building new tech-enabled solutions across the globe. The firm also demonstrated forty new tech solutions spanning multiple functional areas such as digital, finance, risk, compliance and tax. The tech-enabled solutions have been developed to solve client challenges related to emerging technologies such as cloud, artificial intelligence and mobile. With this launch, the firm aims to offer plug-and-play tech solutions, complementing PwC India’s services to create new value for clients. “We ourselves operate in a ‘cloud-first’ environment and we are now leveraging our experience to create relevant solutions for our clients. The focus is on building a digital ecosystem of solutions adoptable for plug-and-play to solve client problems using emerging technologies. We are also changing our delivery model to ensure that we deliver outcomes to our clients quicker,” said Mr. Sivarama Krishnan, partner, PwC India. |
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| Source : 13-11-18 Business-standard.com Compiled by www.naukri.com |
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| Flipkart’s woes continue as Myntra-Jabong CEO Mr. Ananth Narayanan likely to quit |
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| With Mr. Binny Bansal’s exit from Flipkart, another senior executive, Mr. Ananth Narayanan, who handles the company’s popular fashion platforms Jabong and Myntra, may also quit soon. Under the new company structure, Mr. Kalyan Krishnamurthy is the new overall boss of the group companies, and CEOs from Myntra, Jabong, and PhonePe will report to him. Reports say Mr. Narayanan was close to Mr. Binny Bansal, and now things would not be the same with Mr. Krishnamurthy at the helm of affairs of the Flipkart group companies. He has a different working style, and reports suggest both he and Mr. Narayanan don’t see “eye to eye” on several issues. |
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| Source : 15-11-18 Businesstoday.in Compiled by www.naukri.com |
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| 7th Pay Commission: Employees will get big news in March, salary to increase |
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| Despite the disappointment of not getting a pay hike as per their years old demands, central government employees are getting pay hikes albeit through a different channel under the aegis of the 7th CPC. This is through dearness allowance (DA) hikes that happen on a regular basis. Earlier, the government had reduced the DA to zero (0) while implementing the 7th Pay Commission, but due to the constant increase in the cost of everyday essential goods, the same has received notable hikes. The government reinstated the DA after accepting some of the demands. At present, the DA of the Central and State Government employees is 9%. They get this salary hike on the basis of DA, which was hiked recently from 7 percent to 9 percent. On this aspect of 7th pay commission-based DA, the Former Assistant Secretary General of the All India Audit and Accounts Association Mr. Harishankar Tiwari, explained that the implementation of DA is good news for central government employees. The next time staff is set to get DA benefit is after six months, around March 2019 and their salaries will jump commensurately. In case Centre hikes their over pay by raising the fitment factor above the 2.57 times level that it is on currently, in the meantime, then so much the better. |
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| Source : 12-11-18 Zeebiz.com Compiled by www.naukri.com |
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| Vodafone Group ropes in former Orange CEO as Director |
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| Vodafone Group has appointed Mr. Sanjiv Ahuja as Non-Executive Director of Vodafone Group. Prior to joining Vodafone, he has sat on the boards of Telenor ASA, Network Appliance, Cadbury Schweppes and Williams Sonoma. Back in 2003, before Mr. Ahuja joined Orange Telecommunications, he was Chief Operating Officer and President of Telcordia Technologies. In Orange, he held many roles from COO, CEO to eventually Chairman. In 2007, after he left Orange he became the CEO and Chairman at wireless broadband companies LightSquared and Augere. Vodafone Chairman Mr. Gerard Kleisterlee was delighted to announce the appointment and said, “He has broad telecoms expertise, having led mobile, broadband and infrastructure companies, as well as considerable international experience from operating in Europe, the US, Africa and Asia. We are looking forward to working with him.” An alumnus of Columbia University in New York, Mr. Sanjiv Ahuja also founded and chaired Eaton Towers, which builds active and passive telecom infrastructure throughout Africa. |
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| Source : 12-11-18 Peoplematters.in Compiled by www.naukri.com |
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| Infosys appoints Mr. Jayesh Sanghrajka as interim CFO |
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| Indian software services exporter Infosys Ltd said it appointed Deputy Chief Financial Officer Mr. Jayesh Sanghrajka as the interim finance head, effective from 17 November. Mr. Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance function. He will replace Mr. M.D. Ranganath, who had announced his decision in August to step down. Mr. Ranganath was appointed as the CFO in October 2015.The board is in the process of selecting the next CFO, the company said. |
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| Source : 15-11-18 Livemint.com Compiled by www.naukri.com |
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