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Billionaires on hiring spree, to create thousands jobs at cos
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Billionaires on hiring spree, to create thousands jobs at cos
DELHI: They have become poorer by billions of dollars in the global economic downturn that has also engulfed millions of jobs, but
many brave-heart billionaires are still on a hiring spree for their businesses across the world.
India alone accounts for over one lakh new jobs, nearly half the global figure, being created by the billionaires, who according to US magazine Forbes` annual ranking of world`s richest people earlier this month, lost about two trillion dollars of wealth in the past one year.
In a report in its online edition, Forbes has said that a handful of businesses run by billionaires, ranging from internet search giant Google to fashion retailer Hennes & Mauritz, are bucking the layoff trend and are hanging up "Help Wanted" signs even in the current dismal state of economy.
H&M, run by Swedish billionaire, is also going ahead with plans to open 225 new stores in 2009, which would create 7,000 new jobs.
Google`s billionaire founders Sergey Brin and Larry Page, who are worth $12 billion each, has more than 20,000 employees and "continues to hire, albeit at a reduced rate compared with years past," the report noted.
Other American billionaires with major hiring plans, as per Forbes, include realty-to-biotech business moghul David Murdock, software entrepreneurs John Sall and James Goodnight, H Roos Perot Sr and H Ross Perot Jr of Texas-based Perot Systems and auto parts chain major AutoZone`s Edward Lampert.
Besides, Japan`s richest person Tadashi Yanai and the country`s online retail baron Hiroshi Mikitani, Hong Kong`s Li Ka-Shing and Germany`s wealthiest person Karl Albrecht also have massive hiring plans, the report said.
Later this month, Perot Systems would open a large facility in Chennai, India, that could generate up to 1,000 jobs, while a new project in the US would create an additional 150 positions.
While the report did not mention any Indian billionaires, those companies having announced massive recruitment plans despite the current economic scenario, although at least two entities from the business conglomerate run by Anil Ambani, who was incidentally named as the biggest loser of wealth over the past one year, has plans of recruiting people.
Anil Ambani group has plans to hire over 92,000 people in its life insurance business, while it is also looking to bring on board about 1,500 employees in its Reliance Infrastructure unit.
The massive hiring plans by the companies run by these people is in contrast with many other billionaire-run companies, who had been instrumental in creating thousands of jobs in the past, having announced massive layoffs in the backdrop of the ongoing economic and financial crisis.
Noting that billionaires have been responsible for creating thousands of jobs over the years, the report said that "they started some of the country`s biggest employers, including companies like Wal-Mart, Microsoft and Dell, to name a few."
"In 2002, Home Depot, founded by billionaires Bernard Marcus and Arthur Blank, partnered with the US Department of Labor to hire 40,000 associates a year. In 2006, Microsoft added 10,081 worldwide hires, the most in its history."
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/Billionaires-on-h
many brave-heart billionaires are still on a hiring spree for their businesses across the world.
India alone accounts for over one lakh new jobs, nearly half the global figure, being created by the billionaires, who according to US magazine Forbes` annual ranking of world`s richest people earlier this month, lost about two trillion dollars of wealth in the past one year.
In a report in its online edition, Forbes has said that a handful of businesses run by billionaires, ranging from internet search giant Google to fashion retailer Hennes & Mauritz, are bucking the layoff trend and are hanging up "Help Wanted" signs even in the current dismal state of economy.
H&M, run by Swedish billionaire, is also going ahead with plans to open 225 new stores in 2009, which would create 7,000 new jobs.
Google`s billionaire founders Sergey Brin and Larry Page, who are worth $12 billion each, has more than 20,000 employees and "continues to hire, albeit at a reduced rate compared with years past," the report noted.
Other American billionaires with major hiring plans, as per Forbes, include realty-to-biotech business moghul David Murdock, software entrepreneurs John Sall and James Goodnight, H Roos Perot Sr and H Ross Perot Jr of Texas-based Perot Systems and auto parts chain major AutoZone`s Edward Lampert.
Besides, Japan`s richest person Tadashi Yanai and the country`s online retail baron Hiroshi Mikitani, Hong Kong`s Li Ka-Shing and Germany`s wealthiest person Karl Albrecht also have massive hiring plans, the report said.
Later this month, Perot Systems would open a large facility in Chennai, India, that could generate up to 1,000 jobs, while a new project in the US would create an additional 150 positions.
While the report did not mention any Indian billionaires, those companies having announced massive recruitment plans despite the current economic scenario, although at least two entities from the business conglomerate run by Anil Ambani, who was incidentally named as the biggest loser of wealth over the past one year, has plans of recruiting people.
Anil Ambani group has plans to hire over 92,000 people in its life insurance business, while it is also looking to bring on board about 1,500 employees in its Reliance Infrastructure unit.
The massive hiring plans by the companies run by these people is in contrast with many other billionaire-run companies, who had been instrumental in creating thousands of jobs in the past, having announced massive layoffs in the backdrop of the ongoing economic and financial crisis.
Noting that billionaires have been responsible for creating thousands of jobs over the years, the report said that "they started some of the country`s biggest employers, including companies like Wal-Mart, Microsoft and Dell, to name a few."
"In 2002, Home Depot, founded by billionaires Bernard Marcus and Arthur Blank, partnered with the US Department of Labor to hire 40,000 associates a year. In 2006, Microsoft added 10,081 worldwide hires, the most in its history."
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/Billionaires-on-h
