BENGALURU: At a time when many companies are rationalising their human resources or are implementing a freeze on hiring citing poor market condition, here’s news that brings some cheer.
Goldman Sachs, the global investment banking major, has begun the process of hiring over 5,000 people at the mid-level across the firm in India. It will be for technology professionals, back-office and middle-office and will mostly be for positions in Bengaluru.
The hiring that is on right now will be completed by 2018, sources said.
Goldman Sachs had announced in 2014 that it would invest Rs 1,200 crore on a new campus in Bengaluru. Expected to be ready by 2018, the campus, is coming up on a 21-acre plot. It will eventually have the capacity to house about 9,000 employees
“There’s a trend of bigger companies consolidating on the Outer Ring Road, near Varthur Lake in East Bengaluru. Goldman Sachs is a new entrant there,” said Goutam Chakraborty, Director, Colliers International, a global commercial real estate services organisation.
According to information, Goldman Sachs is said to have then agreed to a lease rental of around Rs 60 crore a year for one million sq ft.
The facility on the Outer Ring Road is being developed by Bengaluru-based Kalyani Developers. Kalyani has to its credit a number of technology parks.
The Goldman Sachs Group currently employs over 10,000 professionals across offices in Bengaluru.
Jeffrey W Schroeder, Chief Administrative Officer of Goldman Sachs, had in 2014 said here in Bengaluru that the facility will be the second biggest for the group after New York where it has over 12,000 people.