Wednesday, 17 August 2016

HR Headlines via naukri.com newsletter.

Hiring sentiments up by 3% in July 2016 over July 2015, reports Naukri Job Speak
Naukri Job Speak Index for the month of July 2016 stood at 1882 recording a 3% increase in hiring activity over July 2015. ITES recorded an impressive 46% Y-O-Y growth, Healthcare is up by 23% followed by Auto/ Auto Ancillary at 17% whereas IT-Software and Telecom reported 21% and 32% decline respectively in the July’16 index. Demand for professionals in ITES has grown remarkably, whereas, IT-Software and IT-Hardware showed downward movement of 14% and 15% respectively. Among the metros, Chennai is the only city which witnessed an upward movement of 7% in July’16 index. Whereas, cities like Delhi/NCR, Mumbai, Pune, Bangalore and Hyderabad recorded decline respectively in the Y-O-Y chart of Naukri Job Speak Index for the month of July 2016.
Source : 16-08-16   Naukri.com   Compiled by www.naukri.com
Amazon Veteran Mr. Raghu Lakkapragada joins Voonik as COO
India's fastest growing fashion marketplace Voonik has announced the appointment of Mr. Raghu Lakkapragada as its Chief Operating Officer. This is second senior appointment announcement coming from Voonik within a month, after the appointment of Mr.Prabhakar Sunder, former Finance Head of Myntra, as CFO. Voonik is ramping up its top-management hiring to help transform the company from a start-up to a mature organization. Voonik has also brought in experienced leaders in areas such as quality control and risk management. Mr. Raghu Lakkapragada, an Amazon veteran with 11 years of Amazon stint, built the seller-fulfilled business for Amazon India from the ground up. As COO, he will ensure that the delivery, seller and customer experience of Voonik are exceeding the Amazon bar. "Since Voonik doesn't do its own fulfilment, our model is similar to the seller-fulfilled business of Amazon India. Mr. Raghu Lakkapragada built this for Amazon India from the ground up and scaled it to millions of shipments," said CEO and Founder Voonik, Mr. Sujayath Ali. "Armed with this experience, he as Voonik COO will help us take our customer and seller experience to the next level. Mr. Raghu Lakkapragada commented on his new role, "I'm delighted to join Voonik. The company has made its mark in the industry in a very short span of time. I am excited to begin my journey.
Source : 16-08-16   Business-standard.com   Compiled by www.naukri.com
IITs to blacklist 20 startups this placement season, Flipkart could be let off with warning
With many companies having reneged on offers made to graduating students last year, the Indian Institutes of Technology (IITs) are now looking to blacklist about 20 startups and e-commerce companies this placement season. Moreover, a warning letter will be issued to companies that postpone the date of joining, changed job profiles or altered salary terms. E-commerce giant Flipkart, which blew up a storm after it postponed the joining dates for its fresh recruits on account of restructuring, could be let off with a warning letter for its decision last year. “Flipkart does not figure in the list of startups that would face a blanket ban as it did not completely withdraw the offers,” said All-IIT Placement Committee (AIPC) convenor Mr. Kaustubha Mohanty. Mr. Mohanty further added that that the ban on Zomato will continue for a second year. Meanwhile, the IITs will draw up the list in about two weeks, it was decided at the AIPC meeting at IIT Kanpur, where twelve IITs were present to discuss placements for 2017. Mr. ¬Mohanty refused to mention the details of the companies which are likely to be blacklisted. It was also decided in the meeting that the startups would be classified into three categories – those that deferred placements, those that cut pay or changed job profiles and those that withdrew offers.
Source : 16-08-16   Indiatvnews.com   Compiled by www.naukri.com
3,000 Infosys employees to lose jobs post RBS contract loss
IT firm Infosys is set to take a hit after the Royal Bank of Scotland said it has cancelled its plan to separate and list a new standalone bank, Williams & Glyn (W&G), and instead will pursue other options for the divestment of this business. The bank had awarded a five-year 300 million Euro IT contract to Infosys and IBM for W&G. The move is likely to hit 3,000 Infosys employees and impact revenues for the year by about $40 million to $50 million, media reports said. In 2013, Infosys won the contract to develop applications for W&G, a bank planned to be set up in the UK. "Infosys has been a W&G program technology partner for Consulting, Application Delivery and Testing services, and subsequent to this decision, will carry out an orderly ramp-down of about 3,000 persons, primarily in India, over the next few months," Infosys said in a statement. "RBS is a key relationship for Infosys and the company looks forward to further strengthening our strategic partnership and working with them across other strategic and transformation programmes," the Indian IT firm added.
Source : 16-08-16   Businesstoday.in   Compiled by www.naukri.com
Uber Is Boosting India Operations with these new Hires
With China no longer a concern, India is the next challenge for Uber. The San Francisco-based ride-hailing giant has already hired three new executives in India in the past couple of months. The new hires arrive at a critical time as Uber is presumably redoubling its efforts in India against local rival Ola. Mr. Apurva Dalal joined last month as to head Uber’s local engineering team based in Bengaluru. He was previously the technology chief of Urban Ladder and Komli, and worked for Google both in California and India prior to that. Uber has hired Mr. Mahesh Bhalla in May to run its business development in the region. Mr. Bhalla was previously president of Qwikcilver, a digital gift card company. Between 2000 and 2014, he worked first at Samsung’s Indian division, then Dell, where he spent more than 10 years where he was the executive director for consumer, and small business products in India. Mr. Abhishek Mahapatra also joined in July, and heads Uber’s communications team in India after years in the car industry. He came from Ford Motor, where he worked in the company’s Shanghai and Delhi offices, and has also worked for Hyundai in 2005.
Source : 15-08-16   Fortune.com   Compiled by www.naukri.com
Citigroup executive Mr. Madhur Deora may be headed for Paytm as CFO
One97 Communications Ltd, which owns and operates online payments platform Paytm, is in advance talks to hire Citigroup senior executive Mr. Madhur Deora as its chief financial officer, according to two people close to the development. Mr. Deora, who is currently serving Citi’s investment banking business as the managing director, is likely to join Paytm by October, said the people mentioned above on conditions of anonymity. Mr. Deora has more than 17 years of experience working with Citigroup’s investment banking division and is distinctively known for helping Just Dial with its IPO in 2013. Mr. Deora also led the fund raising discussions for Paytm with Alibaba in 2015. In early 2015, Chinese e-commerce giant Alibaba Group, through its affiliate Ant Financial bought a 26% stake in Paytm by pumping in close to $575 million. Mr. Deora, 38, studied Economics at Wharton and from there joined Salmon Smith Barney, which was later acquired by Citicorp to form Citibank.
Source : 16-08-16   Livemint.com   Compiled by www.naukri.com
Ola shuts down TaxiForSure business; lays off 700 employees
India’s largest taxi aggregator, Ola, has shut down its TaxiForSure (TFS) business and has laid off 700 employees in the process, as it looks to consolidate its presence and reduce cash burn to fend off an attack from Uber. Ola had acquired smaller rival TFS in March 2015 for $200 million to help it maintain market leadership against Uber. While Ola had said it would maintain TaxiForSure as an independent entity, the company soon began moving drivers from TFS to its own platform. While the TFS Android app was still functional, apart from the Ola Micro category, which the company cross-sells, no cabs were available in the Nano, Hatchback and Sedan categories. Since the acquisition, Ola has been pursuing drivers on TFS to join its own platform. Apart from cross-selling cabs on both platforms, Ola did not go in for larger integration of the two services, picking its own technology as the successor. With the lack of any sort of autonomy, TFS saw a slew of senior level exits, including that of CEO Mr. Arvind Singhal. Moreover, disconnect between the two companies was evident, with Ola failing to report driver and cab numbers from TaxiForSure, and shutting off the company from interactions with the press a little while after the merger, despite claiming that TFS was being marketed as a more affordable cab solution. According to reports, the layoffs alone will help Ola save on Rs 30 crore in salaries every month.
Source : 17-08-16   Business-standard.com   Compiled by www.naukri.com
7th Pay Commission: Government employees to be paid allowances before Dussehra
This festive season for central government employees will come with an enhanced bonanza, as the government is set to upgrade and implement their allowances as per the recommendations of 7th Pay Commission. The High Level Committee formed by the Finance Ministry was provided time till November to analyse the various anomalies in allowance hike as recommended by the 7th Pay Commission. However, sources within the Finance Ministry have confirmed that the allowances will be fixed by the next month, and government would credit the salaries of government employees ahead of Dussehra. The High Level Committee, comprising of Health, Defence and Home Secretaries, was formed after several employee unions protested against the radical changes in terms of allowances proposed by the Justice AK Mathur-led 7th Pay Commission panel. The committee has also been entrusted with the responsibility of analysing the demand of National Joint Action Committee (NJAC) which wants the minimum salary be scaled up to Rs 26,000, rather than Rs 18,000, which has been currently proposed. As per the pay matrix of 6th Pay Commission, government employees were beneficiaries of a total of 196 allowances.
Source : 12-08-16   India.com   Compiled by www.naukri.com
Fathers can also avail crèches at work
The new maternity benefits law that will be taken up by the Lok Sabha in the winter session, also empowers fathers to take their children to crèches at their workplace and makes it mandatory for firms with 50 or more employees to offer this facility. Union Labour and Employment Minister Mr. Bandaru Dattatreya said the Bill that was passed by the Rajya Sabha couldn’t secure the Lok Sabha’s nod though the ministry had requested its consideration. The higher maternity leave benefits now envisaged are only expected to kick in by January 2017, officials said. While the Bill doesn’t have any paternity leave prescription, a point flagged by several women parliamentarians in the Rajya Sabha, it enhances the paid maternity leave that new mothers can avail from 12 weeks to 26 weeks. Moreover, it has a provision to encourage firms to allow women employees to work from home after 26 weeks of leave, and forbids employers from dismissing women employees from service during this period, even on disciplinary grounds. “The maternity leave is being raised to ensure that child gets proper nutrition and grows healthily… paternity leave is not relevant here as fathers can’t breast-feed babies,” Union Labour Secretary Mr.Shankar Agarwal said to a query about why paternity benefits haven’t been enshrined in the proposed law. “The number of working women in India is very low and we hope this will encourage more women to take up jobs and participate in the national economic growth,” Mr Dattatreya said.
Source : 13-08-16   Thehindu.com   Compiled by www.naukri.com
RBI Governor Mr. Raghuram Rajan calls for revamp of bank management structures
RBI Governor Mr. Raghuram Rajan said that management in banks should be revamped and performance-based incentives should be introduced into the country's banking sector. Mr. Rajan while speaking at FICCI-IBA Annual Global Banking Conference held in Mumbai suggested that simultaneous action on two fronts - a creative search for new management teams, including the possible use of public sector firms or private sector agents, as also well-structured performance incentives such as bonuses for meeting cash flow/profit benchmarks and stock options are needed. A parallel task for public sector banks was to improve the governance and management, he further said. He suggested that as the Bank Board Bureau (BBB) gains experience in appointment process, the final decision relating to appointments of executives and of non-official directors on bank boards should be left to it. "It was also important, in his view, to streamline and reduce the overlaps between the jurisdictions of the authorities, and specify clear triggers or situations where one authority’s oversight is invoked and move much of the governance to the bank’s board," RBI said in press release quoting Mr. Rajan as saying. In order to encourage healthy competition among public sector banks, private sector banks and other financial institutions Mr.Rajan said that central bank and the Government should reduce the differences in regulatory treatment given to both sector banks and other financial institutions.
Source : 16-08-16   Zeebiz.com   Compiled by www.naukri.com
Cisco Systems to lay off about 14,000 employees: CRN
Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce, technology news site CRN reported, citing sources close to the company. San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transition from its hardware roots into a software-centric organization. Apart from Cisco, two other big software companies, Microsoft Corp and HP Inc, have also announced job cuts this year. Microsoft said in July that it would lay off about 2,850 jobs over the next 12 months, taking its total planned job cuts to up to 4,700, or about 4 percent of its workforce. HP Inc said in February it would cut about 3,000 jobs by the end of fiscal 2016. Cisco, which had more than 70,000 employees as ofApril 30, declined to comment. Cisco increasingly requires "different skill sets" for the "software-defined future" than it did in the past, as it pushes to capture a higher share of the addressable market and aims to boost its margins, the CRN report said citing a source familiar with the situation.
Source : 16-08-16   Reuters.com   Compiled by www.naukri.com
Mr. Sunil Munjal ceases to be promoter of Hero MotoCorp
Hero MotoCorp, the world's largest two-wheeler manufacturer said that Mr. Sunil Kant Munjal has ceased to be a promoter of the company after his tenure as Joint Managing Director ended on August 16. However, he will continue to hold 32,500 shares, 0.02 per cent of the paid-up capital, as an individual shareholder. "We have received a communication from the individual promoters of the company stating that pursuant to the aforesaid realignment, Mr. Sunil Kant Munjal will henceforth, not be classified as a 'promoter' of the company," the company said. It further said: "However, Mr. Sunil Kant Munjal will continue to hold 32,500 equity shares of the company representing 0.02 per cent of the issued and paid up share capital of the company in his individual capacity." Hero MotoCorp had last month announced that Mr. Sunil Munjal will step down from the board of the company when his tenure as Joint Managing Director ends on August 16."The members of the BML Munjal family have decided to realign their businesses to achieve future growth and expansion. Mr. Sunil Kant Munjal, Joint Managing Director, Hero MotoCorp, and Chairman, Hero Corporate Service, intends to focus his time and energy on his independent and core businesses, and to pursue new business interests," the company had informed in a BSE filing. Hero MotoCorp had said the realignment would not impact the overall promoter shareholding, strategic direction or operational management of the company.
Source : 17-08-16   Business-standard.com   Compiled by www.naukri.com
UK employers scale back hiring plans after Brexit vote: Survey
British employers have turned more cautious about hiring and are less likely to invest in training for their workers following the decision in June by voters to leave the European Union, as per a survey. The proportion of employers expecting to increase staffing over the next three months dropped from 40 percent before the referendum to 36 percent after it, according to the CIPD, an organisation representing human resources professionals, and staffing firm Adecco Group UK & Ireland. One in five employers expected to reduce investment in training and skills as a result of Brexit and the subsequent fall in the value of the pound which will push up the cost of imports. Seven percent planned to invest more. "While many businesses are treating the immediate post-Brexit period as `business as usual` and hiring intentions overall still remain positive, there are signs that some organisations, particularly in the private sector, are preparing to batten down the hatches," CIPD acting chief economist Mr. Ian Brinkley said. Most employers said it was too soon to say if their migrant workers would leave Britain as a result of Brexit, but one in five thought that some were considering moving away from the country over the next 12 months. Most economists believe Britain is heading for a recession followed by a period of slow growth because of uncertainty about the country`s future trading relationship with the EU. Earlier this month, the Bank of England cut interest rates and took other measures to try to offset the Brexit shock to the economy.
Source : 15-08-16   Zeenews.india.com   Compiled by www.naukri.com
Ex-Rovio CEO hired to bring Nokia phones back to market
HMD Global Oy, a new Finnish company looking to relaunch the Nokia brand for phones, said it has hired Mr. Pekka Rantala, the former CEO of Angry Birds maker Rovio, as its Chief Marketing Officer. Nokia, once the world's biggest maker of mobile phones, said in May it had signed an exclusive licensing deal with HMD to bring Nokia-branded devices back to the market. A Nokia veteran, Mr. Rantala worked for the company from 1994 to 2011. He joined Rovio as CEO in 2015 but stepped down after only a year in the job after imposing deep job cuts and restructuring. Nokia was wrong footed by the rise of smartphones and eclipsed by Apple and Samsung. It sold its entire handset business to Microsoft Corp in 2014 and now focuses on telecoms network equipment. Microsoft has largely abandoned the business it acquired since then. HMD's Nokia-branded phones and tablets run on the Android operating system. The devices will be manufactured and distributed by FIH Mobile, a subsidiary of Foxconn Technology. It is yet to give any timetable for the products.
Source : 15-08-16   Reuters.com   Compiled by www.naukri.com
Maruti Suzuki steps up hiring of contract workers
Maruti Suzuki India Ltd, which said after a violent protest at its Manesar factory in 2012 that it would not hire contract workers for production jobs, has continued to do so. The car maker now offers them more benefits than it used to. It also calls them differently—Company Temps, according to a spokesperson—and not contract workers. They are also hired directly by the company and not through agents. They may be getting more benefits, such as free meals, insurance and provident fund, than in the past, but these workers continue to be paid a lot less than permanent employees for what is sometimes the same job. The current salary of a temporary worker at Maruti is around Rs.17, 000 per month; a permanent employee’s pay varies between Rs.17, 000 and Rs.50, 000 depending on work experience, according to Mr. Kuldeep Janghu, general secretary, Maruti Udyog Kamgar Union. The fact that they are temporary workers means they do not have the protection offered by Indian labour laws, although some experts argue that it is the very rigidity of those laws that force companies such as Maruti to hire contract workers and not permanent ones. The number of contract workers at India’s largest carmaker increased by 61.5% between 2013-14 and 2015-16. Maruti had 10,626 contract workers, 13,259 permanent workers and 1,276 apprentices as of31 March. The total workforce at India’s largest carmaker increased 24.41% to 25,161 during the period, according to the company’s annual report.
Source : 17-08-16   Livemint.com   Compiled by www.naukri.com
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