JSW on hiring spree, eyes 50K employees in next five years

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Mumbai, Jan 23: Sajjan Jindal promoted JSW Group, which has announced a huge expansion plan of Rs 40,000 crore, is targeting a total employee strength of 50,000 over a period of five years across all its expansion in steel, cement and aluminum. The company has chalked out a plan through which it is moving forward to achieve its target of hiring quality people. According to a source close to the company, “JSW maintains a policy whereby, for one million tonne of capacity, the company should have 1,500 employees. JSW group follow the 1: 1.5 ratio for all its recruitment,” he said.

In West Bengal, where the company will set up a 10 million tonne integrated steel plant with an investment of Rs 35,000 crore, it will employ about 15,000 people. The plant construction work in West Bengal is expected to begin by the end of next month. Similarly, from the present total of 8000 employees at its Vijayanagara steel plant, the company will take the total to 14,000 employees (including employees on payroll and outsourced) in two years’ time.

JSW targets to increase its turnover to Rs 75,000 crore by 2012 from Rs 12,000 crore at present. It has 7,000 employees on its payroll at present and going forward with the expansion, it plans to hire five times more than this. The company will follow the same hiring policy for its upcoming 12 million tonne integrated steel plant in Jharkhand and forthcoming cement plants in Andhra Pradesh and Karnataka.

JSW Steel Ltd shares on Wednesday were up 8.29% or Rs 74.15 to close at Rs 968.75 on the Bombay Stock Exchange.