Snapdeal to hire 500 people in 6 months; keen on acquisitions

eCommerce major Snapdeal plans to increase its headcount over the next six months by adding 500 people.

Snapdeal, which claims to have over 15 million users, employs about 1,000 people at present.

"We have seen 80-90 per cent growth in traffic month-on-month over the last three quarters. We have been gradually increasing the pace of hiring and over the next six months, we will add about 500 people," Snapdeal Chief Executive Director Kunal Behl said.

The addition would be done in the areas of engineering and analytics, he added.

Layoffs hit again at Connexion Technologies

Connexion Technologies has laid off 232 workers – more than half its staff – in its second round of layoffs this year.


The layoffs by the company, which builds and manages telecommunication networks for residential communities, included the elimination of 106 employees in North Carolina, mostly at its Cary headquarters.

Connexion was founded in 2002 by former Cary Mayor Glen Lang, who remains CEO. The company had 455 workers before this week’s layoffs.

Does Cloud Really Matter for Your IT Job?

The job market is already warmed by the news about emerging job openings with cloud computing. Recently published Microsoft Corp. commissioned research from IDC analyst firm points out that cloud computing is to create over 14 million new jobs globally. New findings report that business that shifts to cloud can invest more time and money in innovation and job creation. While half of all new cloud-related jobs are centered in China and India, IT job hunters are seen relaxed despite of the Tech job cuts are happening in another side.

Though employment bright lining in cloud computing, a study by CSC, the IT Service Provider, indicates that 14 percent of companies reduced their IT staff after setting up cloud strategy. By embracing cloud computing, enterprises may need different types of IT professionals who are asked to manage vendor relationships, to work across departments and to help clients and workers integrate into the cloud.

The survey also found 20 percent of surveyed companies have actually increased their IT staff. It shows instead of a wholesale cut off or hiring, it depends how the enterprise works with cloud computing while cloud is meant only for a shift of responsibilities.

India job market prospects to improve in next quarter: Survey

The job market outlook in the second quarter of 2012 has improved in most countries, with prospects being the best in India, according to a survey by staffing services firm ManpowerGroup. A survey of 4,992 Indian employers showed that most plan to increase headcount in the April-June quarter this year.

India's seasonally adjusted net employment outlook for the second quarter stood at 44%, one percentage up from the previous quarter. Net employment outlook is the difference in percentage of employers who anticipate increase in employment at their location in the next quarter and those who expect a decrease.

It was 46% for the same quarter last year. The two sectors in India that may offer new opportunities are services (59%) and finance insurance and real estate (51%). While outlook in the services sector has improved by 9 points over the previous quarter, and 10 points over the year-ago period that of the finance insurance and real estate sector has improved by 6 points over the previous quarter.

Wipro eyeing deals worth $3.5bn

Information technology services provider Wipro Technologies is pursuing contracts worth around $3.5 billion, senior management of the company told investors during a recent road show in Europe.

The Bangalore-based company is pursuing 15 $100-million deals and another 40 deals worth at least $50 million each.

Selective disclosure to groups of investors is seen a pro-active effort by firm, which underwent a management restructuring almost a year ago, to instill confidence among the investors community.

Cognizant rewards employees with 200% variable payout

CHENNAI: After growing faster than Indian information technology (IT) industry, Cognizant Technology Solutions Corp has now rewarded its employees by giving out as much as 200% of the variable components of their 2011 salaries.

Typically, anywhere from 20 to 30% of an employee salary is labeled as variable pay, linked to a combination of overall company performance and individual performance.

"The company has done the repeat of 2010 in rewarding its top performers. The top performers got around 200% of their target bonus while the average bonus given was 150%. The bonuses were on expected lines as the company has been scoring good quarter on quarter," said a Cognizant employee in Chennai on condition of anonymity.

"Yes, Cognizant has announced performance-linked bonus payout for all its associates, globally," said Shankar Srinivasan, Chief People Officer, Cognizant. "Our industry leading revenue growth in calendar 2011 has enabled us to pay performance bonuses well above target."

Cognizant's bonus comes at a time when industry lobby Nasscom has projected tepid revenue growth for software exporters. Last month, Nasscom forecasted 11-14% growth for India IT-BPO Industry during fiscal 2013, lesser than the 16.7% growth that the sector saw this in the just concluding fiscal.

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