Weekly Roundup (Nov 17-21): News you cannot miss
The financial misappropriation at Infosys BPO and the subsequent sacking of its CFO made a strong statement by the company about its intolerance toward ethical misconduct. The company has appointed a new CEO and CFO who are ex-Infosysians. The company is also looking at the management of one of its European subsidiaries and expects to fire more people who may be caught guilty of any misconduct.
Another big news was of Reliance Jio’s CHRO, Steve Correa quitting the company. The company refused to make a statement about his departure. The departure comes as shocking especially at a time when the company is in a rapid workforce expansion phase.
Indian employees have a lot to cheer this year as various reports state a healthy percentage of increments and bonuses this year. MyHiringClub.com and Flikjobs.com’s research indicates an average hike of 11 per cent in salaries across industries in 2015 and a bonus increase of 10 per cent.
LinkedIn’s Economic Confidence Outlook states that Indian’s are very optimistic after the appointment of the new Government at the Centre and hiring activity will be healthy. Business schools have reason to rejoice this year, if expert reports are to be believed. This year has seen an increase in the number of pre-placement offers and placements will likely hit 100 per cent in this session. In addition, Ericsson has announced plans to increase hiring activity by 40 per cent this year and recruit 400 business school and professional graduates.
Several C-suite appointments made news this week. Havells India appointed a new CMD, Anil Gupta after the demise of its earlier CMD, Qimat Rai Gupta. Uninor appointed Sukrit Maitre, as its circle head for Maharashtra and Goa. Apollo Tyres appointed Sunam Sarkar as its President and Chief Business Officer.