Infotech, BPO are the top job creators

The information technology and BPO sectors have together created the highest number of jobs in India since the recession, according to Union ministry of labour and employment. The sectors have generated more than 15 lakh direct and indirect jobs since October 2008, when India was hit by the downturn and top IT and BPO companies put a freeze on hiring and started laying off people.

The IT and BPO industry grew by 18% in 2010-11, and Nasscom estimates that this year, growth will be a robust 16-17%.The industry directly employs around 25 lakh people.Tata Consultancy Services, Wipro and Infosys along have added more than one lakh people in 2010-11. In fact in the last fiscal, TCS undertook its biggest-ever hiring by adding 69,685 professionals. Source: 02-08-2011 , Economic Times





HSBC to slash 30,000 jobs by 2013 to cut costs

HSBC Holdings Plc, Europe's largest bank, said it plans to cut 30,000 jobs by the end of 2013, about 10% of the total, to stem rising costs. The shares jumped. The bank's costs in relation to revenue rose to 57.5% in the first half, from 50.9% a year earlier, because of higher staff numbers, wage inflation and other costs, London-based HSBC said on Monday in a statement. That's above its target of 48% to 52%, it said.

HSBC is cutting jobs and closing offices to reduce costs by as much as $3.5 billion over the next two years as it tackles wage inflation in faster-growing economies and prepares for stricter capital rules.

Source: 02-08-2011 , Economic Times





Young Indians go for temporary roles offering better money

Many Indians are quitting permanent jobs to move into more attractive temporary roles. As many as 15% new recruits of temp staffing firm Teamlease are permanent employees switching to temp jobs, company officials say. Adecco India, another such firm, also says the trend is catching on. The development suggests that for the first time, the Indian workforce is putting opportunity ahead of security. The carrots - better career profile, money and organisation brand.

Source: 30-07-2011 , Economic Times





Ford to create 5,000 jobs in Gujarat

US automobile major Ford will invest $1 billion (Rs.4,000 crore) to manufacture cars and engines at an integrated facility at Sanad in Gujarat, generating 5,000 jobs, the company announced Thursday.

Ford has entered signed a memorandum of understanding (MoU) with the Gujarat government to construct the facility, a company statement said. The construction of both the plants will begin later this year, with the first vehicle and engine scheduled to come off the line in 2014, it added.

Source: 28-07-2011 , Economic Times





Professional networking site LinkedIn to let you apply directly to companies

Professional social network LinkedIn took the wraps off a tool that allows jobseekers to apply for open positions by sending their LinkedIn profiles directly to prospective employers.

The feature is launching as LinkedIn tries to keep its service ahead of the curve amid competition from new networks such as Google's Google +, which allows users to segregate contacts into a professional category.

Source: 26-07-2011 , Economic Times