Hiring and Lay-offs: A Financial Express report said that Walmart is laying off around 100-150 senior to mid-level employees in India. Break-up of its joint venture with Bharti Enterprises and a halt in its expansion plans in India till 2015 seem to have forced the company to re-plan its workforce. However, there have been quite a few positive updates from the job market. Software service provider Infosys expects to hire as many as 16,000 college graduates next year. Infosys is in the process of making these offers, executive chairman Narayana Murthy told students at the Vivekanand Education Society in Mumbai, where he was delivering a lecture on Wednesday.
More than twelve students at the Indian Institute of Technology, Kanpur (IIT Kanpur) have bagged a salary package of Rs 1 crore or more during an ongoing placement drive. Head of IIT placement centre Vimal Kumar told Financial Express that dozens of students have bagged a package between 30 lakh to 75 lakh rupees per annum; However, he refused to give details of the package.
Movements: Foreign bank Citi appointed Anand Selvakesari as the head of consumer banking for Asean. Selvakesari will continue in his current role as Citi India's head of consumer banking. Global buyout fund Blackstone has moved its high-profile head Akhil Gupta to the role of a non-executive chairman. Two senior managing directors, Amit Dixit and Mathew Cyriac, will jointly lead private equity business.
The board member leading Microsoft Corp's search for a new chief executive told Economic Times that the new Microsoft CEO may be appointed early next year. In another development, Subrahmanyam Goparaju, senior vice president and head of Infosys Labs, the research unit of Infosys has resigned, the company said in a statement to the Bombay Stock Exchange on Thursday. He has been with Infosys for nearly 25 years.
Diversity: A study by industry body Assocham found that 49 per cent private organisations based in Delhi-NCR have established grievance redressal mechanism for dealing with sexual harassment cases, as against 16 per cent in the previous year.
Job outlook: Global advisory and management consulting firm Zinnov said in a report that India has the opportunity of creating 200,000 jobs in the research and development (R&D) space in the next five years. The country has a presence of 228 of the top 500 firms globally.
Life at work: A survey by global workplace provider Regus says that job uncertainty has increased pressure on Indian employees. 71 per cent Indian employees said that they are experiencing more stress-related illness ever since the economic downturn. It also said that 24 per cent of Indian respondents are worried about losing their jobs and feel less confident about the sector they are working in.