With the mergers and consolidation here comes risk of job loss as major purpose of these mergers is to reduce costs and curb losses. As most of the infrastructure is already setup the cost cutting will come mostly from job cuts. According to HR firms the cost of Salary and benefits for Telecom companies is upto 25% of total cost. With mergers this cost will definitely go low, as many layoffs possible since less no of people will be required to perform certain functions. Mid and lower level jobs such as BPO/customer care and support functions will have major impact.
Category Archive: Industry Review
As per the report of Freelancer.com, there are about 38% Indians of all the global users on its site. Around 1.2 million of more than 3 million users on this platform are Indians. There is another globally recognized online job portal oDesk which brings together independent contractors in sync. with the projects being posted by various companies and organizations across the globe. Also, the number of freelancers has increased manifold during the past decade, as a result, the freelance market has grown tremendously. Hence, those finding it difficult to find a good job of their choice are diverting their skills to the freelance job market and earning big bucks.
The Gaming Industry in India is witnessing a sharp growth, given the fact that the country has one of the world’s largest youth population. Presently, the Indian Gaming Sector is prized at USD 890 million, with an expected annual growth rate of 14.3%. The share of Mobile Gaming is the maximum with 71% share. The cause of this growth is attributed to increasing younger and modern population, greater expendable incomes, influx of new gaming varieties and the boosting number of smart phone and tablet users.
According to the World Tourism and Tourism Council (WTTC) survey, by 2019, India will position itself as the 2nd largest employer in the world in this sector alone. Around 50 lakh employees are expected to be hired either directly or through indirect recruitment procedure.
The top recruiters in this sector include; ICICI Bank, HDFC Bank, AXIS Bank, IndusInd Bank, Kotak Mahindra, YES Bank, ING, Standard Chartered, RBS, Deutsche Bank amongst others.