Hot Industry News

 We, at JobsOcean,  thought that a News Section would enable you to keep in touch with some of the most happening news updates, relevant to your career , and also significant in terms of the Job Industry . Having been a type of Headlines section to busy professionals, It is one of the most regularly visited  pages on this website. Updated once in a week to keep you more informed !!

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 Seems to be Incredible, but India's IT capital, Bangalore, has overtaken its US compatriot, California, in terms of IT-centric manpower. Approximately, Bangalore has in its kitty an enviable total of 1,50,000 Employees.  Bangalore and Indian cities have become an ideal alternative for  competitive firms because of its surplus of cost-effective , skilled and efficient manpower and also the availability of educated and technically qualified graduates. No wonder, Heavy-weights like IBM, Oracle, HP, Cisco, TI, Accenture, Intel, Motorola and host of other Corporates have already made heavy investments in India's 'Silicon Valley'. Noticeably, 2003 had seen a hiring spree among most companies and 2004 guarantees to be more promising for Job-seekers !

 With companies searching for cost-effective and reliable alternatives to swell their business profits, India as a progressive and reliable destination in such a search has been globally recognised, thanks to India's proven record in the past few years. According to a recent report from Goldman Sachs Group, the US alone would be sending as many as six million jobs in the next decade. Another reliable source indicates that  as many as two million white-collar jobs such as programmers, software engineers and application designers will shift to low cost centres by 2014.

 HR research firm Hewitt indicated that a high attrition rate in the software and IT-enabled services industry could rise further. It said half of India's IT workforce is planning to resign from their current firms in the next two years, with 45 per cent of the surveyed employees willing to consider a switch over for 20 per cent higher compensation. This was disclosed by Aditya Kohli, Head, Hewitt Associates in New Delhi at a Nasscom event on HR networking.

 Novel Factors like Jobs in high profile MNCs, skyrocketing salaries and of course the feel-good factor of enjoying one's own congenial culture without leaving one's families behind have prompted many an Indian professional to reject lucrative offers from across the seas. According to a conservative Industry estimate, a jump of 15-35% from the previous 10% hike in the annual salaries of average Indian Professionals have had a telling effect on their mindsets. Added to that, higher Job security, improved HR practices, Sponsored traveling outings and many other value added job benefits have only pepped up this new-found feeling among the skilled, salaried sections of the Indian society. Moreover,  India's global recognition as a soon-to-be Economic powerhouse have to an extent reduced yesteryear's stigma of staying in India as a drawback. So it is not a bad idea to think twice before packing your bags  !

 A recent Frost & Sullivan study estimated the Indian Embedded Software market (exclusive of services) at $ 600 million with an annual growth forecast of 30 percent. The current workforce in the embedded area is around 10,000 engineers , employed in companies such as STMicroelectronics, TI, GM, Philips, Cypress, Cadence, Samsung, Wipro, HCL, Infineon, IBM, HP, Motorola, Ittiam, Synopsis, Socrates and Sasken. RTOS-based application developers have been in huge demand and salaries too have correspondingly inflated in this particular segment.

 World's third largest software company, the Germany-based SAP AG,  is coming up with its 21-acre product development campus in Bangalore . Its Indian arm in Bangalore, SAP Labs India is one of the seven development facilities of SAP Worldwide. At least 1,750 professionals are expected to work in the new campus.

 Accenture, a $ 12-billion software services giant has indicate in a recent news report that its employee strength would touch the majestic 5-figure mark within the year end. Fuelled by its intensity in BPO segment , Accenture are gung ho about their recruiting spree in the already booming job market.

  TCS, Infosys, Wipro, Iflex and other Indian companies have already caught the attention of their comparatively bigger competitors like IBM, Accenture etc. according to a  recent issue of Fortune magazine. It also pegged India as a 'land of opportunity' indicating that India has above 2.5 Lakh IT professionals working in some of the best companies in the world.

 The number of IT software and service professionals increased rapidly to reach 7.7 lakh by the end of 2003, according to a NASSCOM review 2004.The pace of recruitment was so high that ITeS companies were taking 200 professionals for every working day of the year, it said. This includes people in software ITes-BPO professions, the review said adding, in 1998-99, the number of people employed in these areas was 2.80 lakh. Witnessing significant increase in capacity, the number of seats in Indian ITeS-BPO space is projected to increase to 2.10 lakh in March 2004 from 1.4 lakh in March 2003, according to Nasscom.

 Buoyed by a good Indian economy and an increasingly investment friendly marketplace, Most major firms have their knees deep in recruitment these days. In what can be said as some sort of jobs windfall, Companies are on a lookout for professionals who suit their burgeoning requirements in the IT and Non-IT space. Some of the headlines that caught our attention in the past few months include the following : 
   •  Symphony Services , Bangalore to recruit 2,500 in 2003-2004.
   •  iGate Global to hire 4,000 more within year 2007.
   •  Google, Yahoo, Redhat, EFI to expand their Business operations in India.
   •  Siemens to shift 15,000 software jobs to India.
   •  STMicroelectronics to invest $100 million and increase staff  to 3,000 by 2006.
   •  Satyam (SCS) to take in close to 4,000-5,000 in the next 12-18 months. 
   •  PeopleSoft to triple its headcount to 1,000 within 2004 in India.
   •  CTS to employ 2000 more in the next 2 years for India Operations.
   •  Infosys to set up their biggest corporate campus in Chennai.
   •  Oracle, Microsoft, Intel and  Sapient to increase recruitment in 2004.