Weekly Roundup: News You Cannot Miss
The week saw lot of activity on appointments and campus recruitment front. Here are some of the main news of the week.
Appointments and movements: Microblogging site Twitter has appointed Marjorie Scardino, former chief executive of publishing company Pearson, as first female member to its board. Twitter, which went public last month, was heavily criticized for its all-male board. Also, Tupperware Brands Corporation has elevated its India MD Asha Gupta as group president of the Asia-Pacific region. In this role Gupta will oversee the American direct selling multinational's operations in 15 countries, including India, China, Japan and Australia. Gupta will be the first woman to be working in this capacity for Tupperware.
Cairn India, which operated country’s biggest on land oilfields in Rajasthan has appointed Mike Yeager, the former CEO of BHP Billiton's petroleum business, as chairman of its operations review board, Economic Times reported. In another development, IIM-A Chairman, Abraham Koshy, was appointed by Federal Bank as its part-time Chairman.
Cost-cutting and layoffs: According to a Financial Express report, Automobile maker Ashok Leyland (ALL) has decided to cut flab in the executive segment through VRS as well as embark upon cutting fixed costs by re-assigning some of the staff at the plant level towards the sales front. The company has already moved 50 staff to the sales front and plans to move another 250 employees to other operations. Ashok Leyland MD Vinod K Dasari was quoted as saying, “We came out with a voluntary retirement scheme in November wherein nearly 500 executives participated (10% of the executives of the company).”
Kirloskar Electric Company has laid off 53 people for one month at its Mysore factory, an ET report said. The company has “announced lay-off for 53 workmen at electronic unit at company's factory situated in Mysore w.e.f. November 25, 2013 till December 24, 2013”.
IT major Wipro has decided to shut down its manufacturing of computers and servers due to changing market scenario and consumer preferences. Wipro, which is India's third largest software services player, said on Wednesday that it will re-deploy all the affected employees in the company.
Campus recruitment and jobs: Campus recruitment front saw quite a lot of activity this week. In a surprise news two 21-year-old, soon-to-graduate IIT Kanpur engineers turned down huge package offered to them by tech major Oracle for a profile of their choice. Oracle offered them Rs 1.31 crore each. The two students have opted for other companies that offered lesser pay, but gave roles the students liked better.
Ecommerce major Flipkart has stormed the IITs emerging as the largest recruiter in the first three-and-half days of this placement season. Till Thursday, Flipkart had made 118 offers so far to the class of 2014 and turned out to be a huge draw at IITs, hotspots for the best Indian engineering talent.
Hiring front too brought some welcome news. According to a Hindu Business Line report, TCS, Infosys and Wipro and global players Amazon, Facebook and Google are expected to add more than 1,00,000 techies over the next three-five years in Hyderabad. According to another news, IT-major Wipro has plans to hire 500 IT professionals in the next 2-3 years as part of expansion in the company's existing facility in the city.