Weekly Roundup (Jan 6-10): News you cannot miss
This week beckoned bad news for expat Indian employees. One of the biggest news this week was the decision of the Singapore government joining the list of protectionist countries by making it harder for companies to hire expats. Now companies hiring expats in Singapore will have to first make these jobs available for locals before being able to conclusively prove that there are no locally available skills available in the market. The move will likely affect Indian companies too who have set up operations in Singapore. Beside that Saudi Arabia too has announced a proposal that caps the stay of expatriates to eight years. This will likely affect thousands of Indians staying in the country for jobs.
Worker unrest in international locations also made news this week. Workers in a Goodyear tyre factory in France held two managers captive demanding more severance for redundant jobs. The company recently announced a number of retrenchment plans. Beside that workers building a Samsung factory in Vietnam rioted with security and the police recently causing a lot of unrest. There has been a growing trend among companies to shift out operations from neighboring China to Vietnam owing labor arbitrage advantages.
One of the biggest appointments announced this week include Sony Pictures Home Entertainment’s appointment of Manjit Singh as the President. He will report directly to the CEO of Sony Entertainment Inc. Michael Lynton and Amy Pascal the Co. Chairman. The week was also marked by the news of Vinita Bali’s exit from Britannia in March.