The week was marked by Facebook CEO Mark Zuckerberg’s visit to India. This week also had mixed updates where on one hand it was reported that there is a jobs galore in the e-commerce sector which is expected to grow 20-25 per cent over the next 2-3 years in terms of jobs, salaries and growth, which in turn could create at least 1,50,000 jobs and telecom sector is likely to create 40 lakh jobs in five years. On the other hand, internet firm Yahoo has started a fresh set of layoffs in India, affecting hundreds, as it seeks to consolidate its product engineering teams at its headquarters in Sunnyvale.
RecruiteX, the Jobs Index by TimesJobs.com reported that the Indian job market is touching new highs with the IT/Telecom industry writing its strongest growth story with a 20 per cent increase in jobs in just one month. The index recorded a 14 per cent increase in September 2014 over August 2014. In addition to this, the Michael Page salary and increment forecast 2014 shared that 70% of the 288 employers surveyed expect to increase headcount in the next 12 months, against 58% in its 2013 forecast.
The significant movements and appointments this week included Rishad Premji, the elder son of Wipro's billionaire founder Azim Premji, and also the company's head of strategy, set to join the board; Welspun Corp appointed Atul Desai as independent director; IHG appointed Shantha de Silva as head of South West Asia operations; Brocade (NASDAQ: BRCD) announced the appointment of Allen Olivo as vice president of Global Brand and Communications.