After tonnes of layoff reports here's finally some good news for techies. Global investment bank Goldman Sachs plans to hire engineers in India in its bid to stay in sync with automation and digital transformation. While the firm's New York office is known to hire the most number of engineers, its Bengaluru office will soon follow suit.
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"Hiring engineers is a top priority for us in India. We are leading the push into innovative technologies like machine learning and data analytics through this talent pool," Gunjan Samtani, co-chief operating officer at Goldman Sachs Bengaluru, told the Economic Times.
"Our 2018 class will be the largest class we would have brought in to date. We remain upbeat and bullish about 2019 as well," Samtani added.
Goldman Sachs in the past has recruited from the IITs as well as IIMs. The firm hired 120 engineers via campus recruitment in 2014 and the number increased to 250 in 2017. The New York-headquartered firm also takes in a number of interns every summer and the number went up to 370 this year from 200 in 2016.
The Bengaluru office plans to hire engineers under two departments – specialists and software development. The specialists with an education in maths, statistics, computers and engineering with concentrate on algorithms and electronic trading systems with the ones in software development will work on data and communications.
"Within the software development umbrella, we will hire engineers to do core engineering work. This involves software and infrastructure engineering for data, communications, collaboration, as well as client-facing businesses and also for managing our software," Samtani told the business daily.
Not just in India, Goldman Sachs is also said to be hiring for Marquee, in New York. Marquee is the investment bank's platform that provides its clients access to the firm's data, content and analytics via a browser, reported Business Insider. For this, the firm has posted eight jobs in New York, four in Warsaw and 12 jobs in Bengaluru.
Meanwhile, just a few days ago, Nasscom president R Chandrashekhar had said that even if automation has led to a few job losses, it also has created newer opportunities. "Tech is eliminating jobs in every sector, including IT. It is also creating jobs. Countries like the US and UK have been adopters of technology and have experienced the same cycle. Today, their unemployment levels are close to zero. While there is job loss and pain, ultimately, it is the only route to economic prosperity," the Times of India had quoted Chandrashekhar as saying on the sidelines of an HR Summit in Chennai.
