HR Headlines: Jan-09 (Part-10)

Naukri.com Launches ‘JobSpeak’
Naukri.com, India’s No 1 job site, has launched ‘JobSpeak’- an index that measures the current job scenario on a monthly basis. In its first issue, the report indicates that global slowdown has affected Indian hiring outlook in no uncertain terms. According to the report, the overall job index fell from 1000 in July to 781 in October. Historically, there is a seasonal decline in October which is around 10% as recruitment slows down due to the festive season, this year the slowdown in hiring has been sharper affecting new jobs by 21.9%. The index suggests that companies are scaling back their recruitment plans due to the global financial crisis and the current economic conditions. Over the past three months, Real Estate, Banking, Finance, IT and Retailing showed a decline; while Telecom, Pharma and Hospitality emerged as attractive options. Some niche sectors, like Government, Defence and Legal have gained attractiveness in recent months. The index has been calculated based on new jobs added to the site month on month.
Source: 02-01-09 www.naukri.com Compiled by Amresh Anjan

Hiring Outlook For 2009
Companies across sectors are planning to hire more than 2,50,000 new employees over the next few months. This includes more than one lakh full- time employees and about 1.5 lakh in part-time positions with insurance companies. While most of the hiring would take place in the financial services industry, the overall job market scenario is expected to recover in the second half of the year. Public sector banking giants like State Bank of India and Punjab National Bank as well as insurance firms such as Anil Ambani group's Reliance Life, SBI Life, Metlife, Max New York Life will hire big. Also, some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming months. According to HR consultancy major Hewitt Associates, sectors like insurance, telecom, infrastructure and Special Economic Zones may hire people in 2009 but the hiring outlook would remain uncertain for sectors like real estate, textile and retail.
Source: 01-01-09 www.sify.com Compiled by Amresh Anjan

New Year Bonanza For Armed Forces
In a move that will bring cheer to the defense personnel, the Prime Minister’s Office (PMO) has informed the defence ministry that henceforth there will be a separate pay commission for the armed forces. This separate commission will be delinked from the civilian pay panel. The PMO has also granted the demand for placing 12,000 odd Lieutenant Colonels and equivalents in Navy and Air Force in the pay band of four of the sixth central pay commission.
Source: 01-01-09 www.livemint.com Compiled by Amresh Anjan

IIT Placements Hit Hard By Recession
Students at the Indian Institutes of Technology (IITs) are bearing the brunt of the global economic downturn. At the IITs, this year, only 25 to 40 per cent of the M Tech students have been placed so far in contrast to last year when most IITs had achieved around 90 per cent placements by this time. At IIT Roorkee, TCS has hired only 13 students against 36 last year and Infosys Technologies only four against seven last year. Wipro Technologies has given the campus a miss this year. Similarly, IIT Guwahati has not heard from TCS and Wipro. The IITs are looking at extending the placement period.
Source: 31-12-08 news.in.msn.com Compiled by Amresh Anjan

2009 Will Be a Tough Year For First Time Job seekers
The India growth story has lost its sheen, thanks to the economic slowdown. This will clearly reflect on the job prospects of entry-level jobseekers this year. According to industry experts, the job market is not exactly happening in 2009. Job growth has slowed and many companies are optimizing their surplus staff and have frozen hiring. Campus recruitment is also down from the previous year. The big four tech giants, Infosys, Tata Consultancy Services, Wipro and Satyam are expected to hire less than last year. However, despite an overall drop in employment generation, there are sectors such as insurance, healthcare support, retail and education that will witness a shortage of available talent.
Source: 02-01-09 Hindustan Times Business Compiled by Amresh Anjan

2009 May See Generation Of 1.5 Lakh Jobs By Telecom Companies
According to recruitment experts, the Indian telecom sector will need up to 150,000 additional employees in 2009. While new players are making a foray in the field, existing ones have expansion plans, which will lead to employment generation. The government has issued 120 new licenses and there would be a talent crunch in the industry that might push up salaries in core operations by up to 30 percent in the next few quarters. New players are looking at training inexperienced or fresh graduates, owing to the talent crunch. Currently, the telecom sector directly employs about 150,000 people, while providing jobs to another 1.5 million indirectly with retail outlets, prepaid card sellers and tower constructors.
Source: 02-01-09 www.siliconindia.com Compiled by Amresh Anjan

Jobs Up For Grabs In Medical Transcription
While job cuts have become a norm across industries, there is one field which is looking for talent- Medical Transcription (MT). Bucking the global trend, there are jobs up for grabs in this segment. Bangalore, Hyderabad and Delhi are the main hubs for MT companies. Major companies in this field are positive about hiring. Since there are no accent barriers and time differential for working required in the MT sector, it provides opportunities for housewives, graduates etc to take up jobs. Also, healthcare being reasonably recession proof, big budget cuts are not expected and Indian companies can look forward to more outsourced contracts.
Source: 02-01-09 www.sify.com Compiled by Amresh Anjan

Satyam Chairman Urges Employees For Support; 3 Directors Resign
Satyam Computer Chairman Mr Ramalinga Raju is trying to garner support of his employees amidst the fiasco over the Maytas acquisition. In a letter to his employees, he solicited their support and assured them that everything possible was being done to get the company back on track. He also hit out at the detractors, including four directors who quit the board over corporate governance issues, saying that the vote to approve Maytas bid was unanimous. The letter comes amid reports of uneasiness among the over 50,000 employees of the company. Rumours are abuzz that a chunk of its talented employees was already looking for other options. Meanwhile, adding to the current crisis, three more independent directors have resigned from its board. Also, the board meeting has been rescheduled to January 10. Mr Krishna Palepu, Mr Vinod Dham and Mr Rammohan Rao have resigned with effect from December 28. The beleaguered tech giant has appointed DSP Merrill Lynch as an outside advisor.
Source: 30-12-08 www.rediff.com Compiled by Amresh Anjan

Salary Hike For SC, HC Judges On The Cards
This year has started on a good note for the judiciary in India as government has decided to bring an ordinance for hiking salaries of the Chief Justice of India, judges of the Supreme Court, Chief Justices and judges of High Courts. After the revision, the salary of the Chief Justice of India would be Rs one lakh per month and Rs 90,000 per month for the judges of the apex court. Chief Justices of High Courts would be entitled to a monthly salary of Rs 90,000 while the judges of these courts would receive Rs 80,000 per month.
Source: 02-01-09 www.ptinews.com Compiled by Amresh Anjan

Terror-Hit Taj Will Not Lay-Off Employees
Taj Hotel in Mumbai which became one of the sites of the 26/11 terror attacks, has decided not to lay off any employees despite financial losses. The hotel has seen 62 percent occupancy after its Tower block reopened for public on December 21. The heritage wing of the Taj Mahal Palace and Towers, whose fifth and sixth floors were occupied by terrorists during the three-day siege, will reopen only by September 2009. Earlier, speculation was rife that the hotel would sack some employees in view of the losses incurred. However, that has been put to rest.
Source: 31-12-08 www.sify.com Compiled by Amresh Anjan

Hyundai Not To Absorb 1,200 Trainees
Faced with a slump in demand both in domestic and overseas markets, the country's second largest carmaker, Hyundai Motor India, has decided to cut its production by 20-25 per cent. Consequently, the carmaker has decided to let go 1,200 of its trainees. It is cutting production to two shifts a day from the current three shifts at its Chennai plant. The company currently has about 3,500 trainees.
Source: 29-12-08 www.financialexpress.com Compiled by Amresh Anjan

Govt Bars Profit Sharing For PSU Chiefs In JVs
In a notification issued by the Department of Public Enterprises, the Central Government has disallowed executives of State and Central public sector undertakings (PSUs) from taking sitting fee or share in profits from the subsidiaries and joint ventures of the company that employs them. It has asked the executives to deposit such monetary profits with their parent firms. However, the notification does not clarify how it will recover the money taken in the past.
Source: 30-12-08 www.thehindu.com Compiled by Amresh Anjan

5 Lakh Jobs In Leather Export Units Under Threat
In wake of the worsening market scenario in the US and Europe, India’s export-oriented leather industry may have to lay off around five lakh workers in the next three-four months. Currently, the industry employs 2.5 million people. The industry saw a handsome growth of about 17 per cent during April-August period but exports started shrinking from September. There was a 15 per cent dip in November and 20 per cent dip in December. Owing to a credit freeze in the US and Europe, Indian exporters are facing order cancellations.
Source: 31-12-08 www.rediff.com Compiled by Amresh Anjan

British Employers Ask For A Freeze On Minimum Wage
The British Chambers of Commerce (BCC) has asked the Low Pay Commission public body to maintain the minimum wage at current levels. The public body advises the government on the rate of wages. BCC has expressed fear that raising the rate beyond current levels would add to unemployment. British employers are facing a severe credit crunch due to the weakening economy and the situation is expected to worsen during 2009. Currently, the minimum wage stands at 5.73 pounds an hour for adults, 4.77 pounds for 18 to 21-year-olds and 3.53 pounds for 16 and 17-year-olds. BCC is demanding a freeze until the economy recovers from the financial downturn.
Source: 29-12-08 www.rediff.com Compiled by Amresh Anjan

600,000 Job Cuts Expected In Britain In 2009
According to a report by the Chartered Institute of Personnel and Development (CIPD) in the UK, Britain is slated to see 600,000 job cuts in 2009 due to financial downturn and a million could go before the worst is over. It forecasts that 2009 will be the worst year for job losses since 1991. A series of high profile British companies have gone bust in the current crisis and the country is faced with a severe job loss crisis.
Source: 29-12-08 www.livemint.com Compiled by Amresh Anjan

Three PepsiCo Executive VPs Put In Papers
The integration of beverages and snack foods business of PepsiCo in India has left some of its executive vice presidents unhappy. Post the integration, Mr Sanjeev Chadha would become chairman of the Indian operations whereas Mr Gautham Muttavilli, who was earlier heading the snack foods business, is being promoted as president of the Indian region. However, this restructuring will also claim a few big names at Pepsico. While EVP (agri) Mr Amit Bose will take voluntary retirement from February and work thereafter as a consultant with PepsiCo, EVP (sales) Mr Satendra Aggarwal and EVP (sustainability) Mr Ravi Sewak have called it quits. PepsiCo is already looking for internal replacements for these two.
Source: 30-12-08 www.dnaindia.com Compiled by Amresh Anjan

The Number Of The Unemployed In Russia May Touch 2 Million
According to a forecast by Russia's Ministry of Health and Social Development, the total number of unemployed in the country will reach 2.1 to 2.2 million in 2009. For 2008, the index was forecasted at 1.6 million.
Source: 30-12-08 www.sify.com Compiled by Amresh Anjan

Top Brass At Citigroup To Forego 2008 Bonuses
Citigroup Inc.'s CEO Mr Vikram Pandit and chairman Mr Win Bischoff would forego bonuses for 2008, while bonuses for other top executives will see a substantial reduction. The announcement came after Citigroup has received $45 billion in federal capital infusions and a government-financed arrangement to insulate it from potential losses. Citigroup is also cutting 52,000 jobs worldwide after four straight quarters of losses. Also, the top five executives - Mr Pandit, Mr Bischoff, Chief Financial Officer Mr Gary Crittenden and Vice Chairmen Mr Lewis Kaden and Mr Stephen Volk – are no longer entitled to severance.
Source: 31-12-08 news.yahoo.com Compiled by Amresh Anjan

Bharti Tele Restructures Top Management
In an attempt to strengthen its core leadership team, Bharti Teletech, part of the Bharti Group, has made three strategic appointments. Mr Atul Jain has been appointed as Director (Sales & Distribution), Mr Suresh Gupta will be the new Chief Finance Officer and Mr Sandeep Tewari has been appointed as Head (Marketing & Alliances).
Source: 30-12-08 www.thehindu.com Compiled by Amresh Anjan

Mr Ravi Uppal Appointed As CEO Of L&T Power Unit
Larsen & Toubro has appointed Mr Ravi Uppal as managing director and chief executive officer of unit L&T Power Ltd. Prior to this appointment, he was the head of Global Markets and a Member of the Group Executive Committee of the ABB Group.
Source: 01-01-09 in.reuters.com Compiled by Amresh Anjan

Mr Sakthivel Elected President Of FIEO
Mr A. Sakthivel has been elected as the next President of the Federation of Indian Export Organisations (FIEO). He is managing director of Tirupur-based Poppy’s Knitwear, Mr S. K. Saraf, chairman of Technocraft Industries (India), has been elected as its new vice-president. They will hold the offices for two years.
Source: 30-12-08 www.thehindu.com Compiled by Amresh Anjan

Dr Reddy’s Appoints Mr Umang Mehra As CFO
Dr Reddy’s Laboratories has appointed Mr Umang Vohra as the new chief financial officer of the company. Prior to this, he was serving as company’s deputy chief financial officer. In his new position, he replaces Mr Saumen Chakraborty, who has moved on to take up the newly created position of President Corporate and Global Generics Operations.
Source: 03-01-09 Business Standard

Compiled by Amresh Anjan