Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Post <a href="http://www.businessinsider.in/searchresult.cms?query=demonetisation&amp;sortorder=effectivedate">demonetisation</a>, <keyword id="35621" type="UNKNOWN" weightage="20" keywordseo="e-commerce">e-commerce</keyword> shipments took a blow and their volumes went down drastically. This forced multiple last mile logistics companies to scale down operations. In the last few months, <a href="http://www.businessinsider.in/searchresult.cms?query=logistics&amp;sortorder=effectivedate">logistics</a> manpower companies such as <keyword id="473274" type="COMPANY" weightage="20" keywordseo="Ikya-Human-Capital-Solutions">IKYA Human Capital Solutions</keyword>, owned by <keyword id="6370333" type="UNKNOWN" weightage="20" keywordseo="Quess-Corp">Quess Corp</keyword>, G4S, and last-mile delivery companies such as Wow Express and <keyword id="2720901" type="UNKNOWN" weightage="20" keywordseo="Connect-India">Connect India</keyword> have reduced the number of centres. 
 
"All companies working on an employee outsourcing model took a hit. Between November and February, there was a 4045% drop in volumes from <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> companies," L Sridhar, founder of logistics network company Connect India, which works with local stores and pharmacies in tier-II and III cities and rural areas to create a partner network for delivery in these locations, told ET. 
 
He said that the company has scaled down operations from 95 cities and rural regions to 45 all thanks to the reduction in e-commerce volumes and lower rates being negotiated by e-commerce players in an effort to reduce burning cash per delivery. 
 
"The volume has come down from 1 million to 4,00,000 shipments per month over the last three months," Sridhar, told ET. 
 "We understand the seasonality of the e-commerce business and are now entering into short-term contracts for the peak delivery seasons with the ecommerce players. The planning of manpower in these companies is aligned to the peak. When our contracts end at the end of the peak season, we are moving our delivery staff to other verticals such as agro or FMCG to ensure that they are not out of jobs.We is doing this for the first time in the year 2016-17," Guruprasad Srinivasan, president special projects and logistics at <keyword id="473271" type="ORGANIZATION" weightage="20" keywordseo="Ikya">IKYA</keyword>, told ET.

Last mile logistic companies scale down operations, thanks to demonetisation

Travel major <a href="http://www.businessinsider.in/Thomas-Cook-acquires-Rs-130-crore-business-space-in-Mumbai-/articleshow/48016074.cms">Thomas Cook India</a> has acquired Swiss tourism major <keyword id="76856" type="COMPANY" weightage="100" keywordseo="Kuoni">Kuoni</keyword>'s <a href="http://www.businessinsider.in/The-numbers-are-out-Foreign-tourist-arrivals-with-e-visa-has-jumped-11-times-inIndia/articleshow/47379746.cms">travel business</a> in India and Hong Kong for Rs 535 crore. 
 "Our acquisition of Kuoni's tour operating and retailing businesses in India and Hong Kong as well as the Indian inbound business reaffirms our belief in the India market potential, as also our strategic intent to explore viable geographies, including the larger Asia opportunity," Prem Watsa, chairman and CEO, <keyword id="446537" type="COMPANY" weightage="100" keywordseo="Fairfax-Financial-Holdings">Fairfax Financial Holdings</keyword> that backs Thomas Cook, told ET. 
 
<a href="http://www.businessinsider.in/ThomasCook-Indias-subsidiary-Quess-Corp-acquires-49-stake-in-Qatar-based-TransfieldServices/articleshow/47501921.cms">Thomas Cook</a> will pay Rs 320 crore for Kuoni-SOTC (Indian arm) through internal accruals and Rs 215 crore for Kuoni's Hong Kong business through a mix of debt and equity. 
 "There were parts of Kuoni which would clearly complement and enhance our inbound business and we see strong synergies and benefits accruing from their well established presence/global connection in key source markets like Europe, "Madhavan Menon, MD, <keyword id="164802" type="COMPANY" weightage="100" keywordseo="Thomas-Cook-India">Thomas Cook India</keyword> told ET. Currently, Kuoni-SOTC is present in outbound and inbound tour segment and also runs corporate travel business. 
 
The transaction remains subject to regulatory approvals and is expected to be complete before the end of this year. 
 "With the sale of the tour operating activities in India and Hong Kong, we have completed the sale of the outbound business as announced in January. I'm very pleased that we found forward-looking solutions for the units in India and Hong Kong," said <keyword id="1714849" type="UNKNOWN" weightage="100" keywordseo="Peter-Meier">Peter Meier</keyword>, CEO, Kuoni Group. 
 Thomas Cook has been aggressive in the M&amp;A market after Prem Watsa's Fairfax Financial Holdings took control of the firm in 2012 with close to 75% stake, having acquired <keyword id="1550353" type="UNKNOWN" weightage="100" keywordseo="Ikya-Human-Solutions">Ikya Human Solutions</keyword> (now rebranded as Quess) and Sterling Holiday. Thomas Cook India currently has presence in 95 cities across India, Mauritius and Sri Lanka. 
 
Founded in 1906, Kuoni entered India in 1997 by acquiring SOTC Tours, which was one of the pioneers of foreign tours. Three years later, it took over Sita World Travels, an inbound travel company. Kuoni offers online destination management services and visa services under the VFS brand. 
 
 
(Image credits: Indiatimes)

Thomas Cook acquires Swiss tourism major Kuoni’s India and Hong Kong businesses

Here’s some good news for job seekers. Many companies have started <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="hiring">hiring</keyword> as several <keyword id="6359973" type="UNKNOWN" weightage="20" keywordseo="recruitment">recruitment</keyword> firms saw increased activity in July. It is predicted that hiring activity will increase and many sectors such as banking and financial services, ecommerce, consumer goods, telecom, manufacturing, IT and industrial services, etc will start hiring on a big scale soon. "Job market reacted negatively to demonetisation, but this is not so in the case of GST. On the contrary, industry leaders are bullish of a post-GST world, and are expecting business to look up in the months to come," Shiv Agrawal, ABC Consultants managing director, told ET. Meanwhile, banking and financial services will lead the hiring spree "Nearly a lakh new jobs would be created in the next month or so and about 3 lakh professionals associated with GST-related activities will be in demand over the next nine months," Lohit Bhatia, the staffing solutions business head at IKYA Human Capital Solutions, told ET.

Good news! Hiring is picking up and several sectors may start recruiting soon

Indian job sector is marred with the fear of layoffs because of cash crunch or increasing automation, which has resulted in a major rise in the number of resumes on hiring platforms. 
 
Applications from people from IT and <a href="http://www.businessinsider.in/Indian-e-commerce-market-is-slowing-down/articleshow/52940196.cms">e-commerce</a> industries have increased by 20-25%, as per Lohit Bhatia, business head, staffing solutions, IKYA Human Capital Solutions. 
 
"It's happening at firms where the management is either reducing workforce or rationalising the headcount to balance demand and supply," Bhatia told ET. 
 
Last year, there were about 9,200 employee layoffs, a lot more than about 5,500 in 2015, says research platform Xeler8. Major industries that saw these layoffs were food delivery, e-commerce and consumer services companies. 
 
Also read: <a href="http://www.businessinsider.in/indias-manufacturing-sales-shrink-expect-more-layoffs/articleshow/57376642.cms">India's manufacturing sales shrink. Expect more layoffs</a> 
 <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, the e-commerce major, is also <a href="http://www.businessinsider.in/snapdeal-has-started-down-sizing-600-employees-have-already-been-fired/articleshow/57343065.cms">firing employees</a> because of cash crunch, as reported earlier. 
 
While on one side job seekers are knocking on the doors of these platforms, employers are increasingly withdrawing. Online recruitment activity in e-commerce stumbled from 3% in December 2016 to a negative 3% in January 2017, says Monster. Month-on-month, there has been a 4% decline in hiring activity. 
 
Also read: <a href="http://www.businessinsider.in/telecom-industry-is-going-to-witness-massive-layoffs-over-25000-pink-slips-loom/articleshow/57161647.cms">Telecom industry is going to witness massive layoffs; over 25,000 pink slips loom</a> 
 
A major change has come in the Indian IT sector because of automation, artificial intelligence and machine learning, and as a result, Indian techies are more and more <a href="http://www.businessinsider.in/possible-restructuring-poses-threats-to-mid-level-employees-in-indian-it-sector/articleshow/57512270.cms">worried about their jobs</a>. 
 However, things are not as bad in the e-commerce space, with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> planning to hire 20-30% more people in 2017 compared to 2016, and Paytm founder Viay Shekhar Sharma announcing vacancies in tech and product space. 
 
(Image source: LinkedIn)

You Searched For "Ikya Human Solutions" and got 4 results

Last mile logistic companies scale down operations, thanks to demonetisation

BI India Bureau

Thomas Cook acquires Swiss tourism major Kuoni’s India and Hong Kong businesses

BI India Bureau

Good news! Hiring is picking up and several sectors may start recruiting soon

BI India Bureau

Layoffs jeopardize job security; resumes flooding hiring platforms

BI India Bureau

Popular Keywords

Buying Guides