Sodexho India workers quit en masse
Sodexho Alliance of France, a $16-billion Fortune 500 company has reasons to worry.
By Sudipto Dey & Bhanu Pande, TNN |
NEW DELHI: Massive attrition at its Indian subsidiary has given meal and gift voucher giant , Sodexho Alliance of France, a $16-billion Fortune 500 company, reasons to worry.
Sources said 100-odd employees have left Sodexho Pass India over the past one month or so, even though reasons for the exodus are not very clear. India head Ravi Saxena is also on the list of employees who have quit. He is slated to join Dubai-based Landmark group’s retail venture. When contacted by ET, Mr Saxena confirmed that he is in the process of handing over charge. He, however, refused to provide any other details.
A team from Paris, headquarters of Sodexho Alliance, is at present in charge of running the India operations. Several senior management staff, including those who joined recently, have quit.
Sources said the staff exodus started about two months back, with senior executives taking the lead. They also said Mr Saxena’s quitting was the final straw. This led to another round of exodus. Mr Saxena was with the brand for around 12 years.
As this comes across as a rare instance of mass churn in a company, headhunters and the executive search fraternity is reading too much into it. “The scale of churn points to the fact that there’s more to it than meets the eye,” a head of a top executive search firm said.
Sodexho Pass India, sources said, has gone through a rapid expansion of operations over the last two years, resulting in sizeable receivables from the market. “In the last three months, focus was more on collections than on business development ,” an ex-Sodexho employee , who quit last month, said.
Sources said 100-odd employees have left Sodexho Pass India over the past one month or so, even though reasons for the exodus are not very clear. India head Ravi Saxena is also on the list of employees who have quit. He is slated to join Dubai-based Landmark group’s retail venture. When contacted by ET, Mr Saxena confirmed that he is in the process of handing over charge. He, however, refused to provide any other details.
A team from Paris, headquarters of Sodexho Alliance, is at present in charge of running the India operations. Several senior management staff, including those who joined recently, have quit.
Sources said the staff exodus started about two months back, with senior executives taking the lead. They also said Mr Saxena’s quitting was the final straw. This led to another round of exodus. Mr Saxena was with the brand for around 12 years.
As this comes across as a rare instance of mass churn in a company, headhunters and the executive search fraternity is reading too much into it. “The scale of churn points to the fact that there’s more to it than meets the eye,” a head of a top executive search firm said.
Sodexho Pass India, sources said, has gone through a rapid expansion of operations over the last two years, resulting in sizeable receivables from the market. “In the last three months, focus was more on collections than on business development ,” an ex-Sodexho employee , who quit last month, said.
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Sources said the Indian operations are now being streamlined with the headquarters taking direct interest in the day-to-day operations of the company. Download
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