Tata Consultancy Services has offered to double the pay for freshers with new-age skills than it normally pays those coming out of campuses. The firm had earlier announced that it will be conducting a new online test known as National Qualifier Test (NQT) to hire engineers, quitting the usual way of campus placements. The entry-level salary…
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.
ICICI Bank CEO & MD Chanda Kochhar Quits the firm.
by •
Chanda Kochhar, 56, the Chief Executive Officer and Managing Director of ICICI Bank has left the firm today after her early retirement plea has been accepted by the firm. Post-retirement benefits of Ms. Kochhar will be “subject to the outcome of the inquiry”, ICICI said in a statement. ICICI has named Sandeep Bakhshi as the new CEO and…
Facebook Appoints Adam Mosseri as the new Head of its Photo-Sharing app Instagram.
by •
Facebook on Monday announced Adam Mosseri, Vice President of Product, will be taking position as the new Head of the photo-sharing app Instagram following the resignation of its founders Kevin Systrom and Mike Krieger. Adam Mosseri was earlier leading the news feed division of Facebook, one of the most important products of Facebook. His appointment will take…
Sridhar Ramaswamy, Google’s Advertising Chief Leaves the firm to Join Greylock Partners.
by •
Sridhar Ramaswamy, Advertising Chief of Google has ended his 15 years relationship with the company to join Greylock Partners as a venture partner. Prabhakar Raghavan, head of Google’s business-applications unit, will step into his role. In 2003, Sridhar joined the ads team, at that time the revenue of ads group was $1.5 billion. He was…
General Electric names H. Lawrence Culp, Jr. as Chairman and CEO.
by •
General Electric announced today that H. Lawrence Culp, Jr. has been named Chairman and Chief Executive Officer of the Company by a unanimous vote of the GE Board of Directors, effective immediately. Additionally, the GE Board has appointed Thomas W. Horton as Lead Director. Mr. Culp and Mr. Horton have been members of the Board…
Govt takes control of IL&FS, proposes Uday Kotak as chairman of the new 6-member board
by •
The Indian government has taken the control of the debt-ridden Infrastructure Leasing & Financial Services (IL&FS). As a start, the government filed an application with the National Company Law Tribunal (NCLT) to dismiss the current board of IL&FS. The government thought it would be detrimental to run the firm with its current directors. The petition filed was…
India-born Gita Gopinath appointed as Chief Economist of IMF.
by •
Indian born economist Gita Gopinath has been appointed as the Chief Economist of International Monetary Fund by IMF Managing Director Christine Lagarde. Gita will be replacing Maury Obstfeld. He announced that he will be retiring at the end of 2018 in July. She currently serves as the John Zwaanstra Professor of International Studies and Economics at…
Mahindra Lifespaces appoints Sangeeta Prasad as its new Managing Director.
by •
The Board of Mahindra Lifespace Developers Ltd. yesterday approved today, the appointment of Sangeeta Prasad, CEO – Mahindra Lifespaces as Managing Director & CEO of the Company effective 1st October 2018, consequent to the resignation of Anita Arjundas as Managing Director effective 30th September 2018. Sangeeta, 50, has over 26 years of work experience, which…
IL&FS Financial Services MD and CEO Ramesh C Bawa quits, IL&FS facing heavy debts.
by •
Infrastructure Leasing & Financial Services Limited’s financial services unit MD & CEO Ramesh C Bawa quits as the parent company struggles to deal with debts. This resignation came just hours after the parent company IF&LS on Friday informed lenders that it is unable to repay the debt of Rs 250 crore. Along with Ramesh C Bawa,…
Novartis to slash 2,550 jobs in Switzerland, UK.
by •
Novartis International AG, a Swiss multinational pharmaceutical company based in Basel, will cut around 2,550 jobs in Switzerland and UK over the next 4 years as the pharmaceutical firm is planning to boost its revenue and focus on new medicines. It is one of the largest pharmaceutical companies by both market capitalization and sales. The Swiss drugmaker…
Survey: Executives officers think 47% of their best talent will quit ‘within 2 years of hire’
by •
A new report from Eightfold shows that CEOs and CHROs think that 47% of their best employees will quit “within 2 years of hire.” The report also revealed many keys facts. Eightfold partnered with Harris Interactive Media on the study, which conducted a detailed study with 1007 CEOs or CHROs of companies with 1,000 or more…
Median gross hourly Wage Plunged 21% over 2 years: Monster Survey
by •
Median gross hourly salary fell by roughly 21 percent over two years to stand at Rs 219.4 per hour in 2017, as against Rs 277.1 per hour in 2015, according to a survey by recruitment platform Monster.com. According to Monster Salary Index (MSI), only the manufacturing sector’s median gross hourly salary has been raised by Rs 19.2 of…
Best companies for women in India 2018: Survey by Avtar Group and Working Mother.
by •
The Best Companies for Women in India is an annual study conducted by AVTAR Group and Working Mother to find the top 100 companies with transparency and gender equality for women. The third edition of Best Companies for Women in India (2018 BCWI) study has been released recently. The study shows lower attrition rates of women than men, at all levels in…
Reliance Industries invests $8 Million in California-based AI startup Netradyne.
by •
Reliance Industries Ltd (RIL) has invested $8 million in California-based NetraDyne, an artificial intelligence startup that focuses on fleet management, automotive, security, and surveillance. This is the second time Reliance is investing in NetraDyne, Earlier this June RIL invested $16 million in the AI startup. Both of these investments were made via Reliance Industrial Investments and Holdings Ltd…
Wipro vice-president Ankur Prakash quits.
by •
Ankur Prakash, Wipro Ltd’s vice-president, manufacturing strategic business unit and Latin America, has quit the firm according to a Mint article. Ankur is not the only person to leave the IT firm in the past few months, earlier last month Wipro’s healthcare and life sciences head Jeffrey Heenan Jalil left the firm due to some unknown reasons.…