Weekly Round-up (September 15 - September 19): News you cannot miss
According to a recent survey, India is likely to see high growth in the job market as 70 per cent employers plan to expand their team. India's business market is currently primed for expansion, with the recruitment market being driven by significant industry sectors such as FMCG, retail, healthcare, manufacturing and real estate. However, churn in venture capital industry could continue as investment professionals are beginning to explore options outside the space, driven by a mix of opportunities offered by new economy ventures, increased early-stage investing and poor performances by funds themselves.
Looking at trends, Social media has emerged as a major background-check tool for employers and nearly 68 per cent of them decide against hiring a person after finding negative details about the candidates, a survey has found. According to a survey by job site CareerBuilder India, as many as 59 per cent employers are currently using social media to research on job candidates, while another 33 per cent are planning to access the platform soon. In contrast to news about increasing job avenues, there are a considerable number of companies streamlining their businesses in the last week. Telecom gear maker Ericsson will shut down its modems business to focus on other growth opportunities, a move that could impact as many as 1,582 people globally. Warner Brothers has plans to eliminate as many as 1000 jobs, which would be more than 10 percent of its work force in the near future. Microsoft Corp. will close its Silicon Valley research-and-development operation as part of 2100 layoffs.
Various movements that happened over the week were; Mayank Pareek, the sales chief of India's largest carmaker Maruti Suzuki put in his papers. In his place, Maruti appointed RS Kalsi as the new head of its domestic marketing and sales. Larry Ellison, co-founder and leader of Oracle Corp for 37 years, stepped aside as chief executive officer. Kimberly-Clark Lever appointed Vikas Singh as Managing Director for its India operations. Nasser Munjee was reappointed as part-time chairman of DCB Bank. Raj Jain will replace Ravi Dhariwal as Times group CEO. Tata Technologies appointed Warren Harris as MD and CEO. Publicis Groupe SA chief executive officer (CEO) Maurice Levy will step down after 2016.