It's raining jobs in India amid global crisis

New Delhi, Nov 16: Amidst fears of pink slips and retrenchments sparked off by the global financial crisis there's good news on the employment front with British Telecom and Bajaj Auto affirming that there will be no job cuts despite the slowdown. Even Deloitte, Metlife, Bajai Auto and Maruti are increasing their headcount. British Telecom, which last week announced plans to cut 10,000 jobs, or 6.3 per cent of its global workforce, has confirmed that retrenchment would not affect their India operations which employs over 20,000 people directly and indirectly. "The majority of the job cuts will be in the UK with the rest peppered around the world and not just in India," a BT spokesperson said. Bajaj Auto on Sunday said there was no case for any layoff in the company even though there has been a cut in production. "Unlike the IT or services industries where the total cost of an employee is 16-18 per cent, in our case it is 3.5 per cent... so if I sack or reduce employee numbers it will not help me much. So why should I get bad reputation?" said the Bajaj Auto chairman, Mr Rahul Bajaj. Private sector insurer MetLife India on the other hand said it plans to hire about 2,000 managers as well as 30,000 advisors by March. "India promises phenomenal growth opportunities for the insurance business in the long term and to realise its potential, it is the right time to acquire resources as they are available at lower valuations due to the economic slowdown," said, the MetLife India Insurance Co's managing director, Mr Rajesh Relan. Maruti Suzuki India is equally upbeat and will increase its total headcount of 7,350 by the end of this year even while Tata Motors has disengaged 700 temporary workers at its Jamshedpur plant. "We plan to take the total employee strength to 7,350 by the year end with the addition of 60 to 70 employees," the Maruti Suzuki managing executive officer, administration, Mr S.Y. Siddiqui said. Global management consultancy firm Deloitte Touche Tohmatsu is benefiting from the global crisis as its clients are seeking advice in dealing with cost cutting measures. It will ramp up its headcount in India by 3,500 to 12,000 employees in the next three years. Meanwhile, Cairn India has started a recruitment campaign to staff its Rajasthan operations with more than 300 key positions for various roles.

 

 

Source: DC