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Private sector steps up hiring, however employees power in most PSUs sees a decline

A MAJORITY of the highest 15 listed PSUs by market capitalisation continued to witness a shrinking of their headcount, an evaluation of the annual reviews, together with for the most recent monetary 12 months 2021-22 (FY 22), confirmed. This development was seen throughout sectors from banking and manufacturing to vitality and minerals.

Barring, SBI Life Insurance and IRCTC, which reported an growth in headcount throughout FY 22, and LIC, which has not but reported its numbers for the year-ended March 31, 2022, all firms within the record have been reporting a decline within the variety of workers for the previous a number of years.

The Indian Express had reported Monday that eight out of prime 10 non-public firms by market capitalisation had added over Three lakh to their human useful resource throughout 2021-22. Within the non-public sector, the 12 months witnessed most hiring in providers — notably retail, IT providers and banking — as firms tapped into Tier-2, Tier-Three and Tier-Four cities for manpower. The firms included Reliance Industries Ltd, Infosys and TCS, HDFC Bank, ICICI Bank and Bajaj Finance, and Maruti Suzuki Ltd.

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India’s largest financial institution SBI final witnessed a rise within the variety of its workers in 2017-18, when it added 71,000 workers following the merger of its 5 affiliate banks and Bharatiya Mahila Bank through the 12 months. Even previous to that, the financial institution was witnessing a gentle decline in employees power. SBI’s subsidiary SBI Cards and Payments too noticed a decline during the last three years to three,774 folks on its rolls as of March 31, 2022, in comparison with 3,967 as of March 31, 2020.

Bank of Baroda has been witnessing a discount in its worker headcount for the final two years, after witnessing a bump on account of amalgamation of Dena Bank and Vijaya Bank with impact from April 1, 2019. The financial institution had 79,806 folks on its rolls as of March 31, 2022, down from 84,283 workers as of March 31, 2020.

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Coal India Ltd worker power dropped from 2.48 lakh as on March 31, 2022, in contrast with 3.83 lakh eleven years in the past in 2010-11. Power era main NTPC had additionally final reported a rise in its variety of workers a decade in the past. At the tip of 2011-12, NTPC had 25,511 workers and since then, its numbers have fallen constantly to 17,474 as of March 31 this 12 months.

Upstream oil firm ONGC, which had 27,165 workers as of March-end this 12 months, final recruited in 2015-16. It had 33,927 folks on its rolls on the finish of March 2016. Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) has additionally reported a gentle decline within the variety of workers since 2013-14. At the tip of 2013-14, BPCL reported 13,214 workers — one individual greater than it had as of March 31, 2012 — and has witnessed a fall to eight,594 as of March 31, 2022.

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GAIL India noticed a internet addition to its headcount 5 years again in 2016-17, when it reported 22,604 workers. It has since witnessed a fall to 17,828 folks as of March 31, 2022. India’s greatest state-owned oil advertising and marketing firm Indian Oil has been witnessing a decline in worker numbers since 2018-19. It had 31,254 workers on the finish of 2021-22, in contrast with 33,498 on the finish of 2018-19.

Ticketing platform IRCTC, which had 1,971 folks on its rolls as of March 31 this 12 months, noticed a decline in 2020-21 to 1,417 from 1,446 workers in 2019-20. SBI Life Insurance has additionally been seeing a constant rise in headcount over the previous a number of years to 18,515 folks as of March 31, 2022 from 13,207 as of March 31, 2018.

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