Major Indian IT firms such as Wipro, Infosys, TCS are increasingly altering their work approach to make their delivery mechanisms stronger with less focus on employee addition. Thus, nowadays, the companies are more inclined to sign more outcome-based price contracts, as against the earlier model, which was based on the number of people deployed in a project. For instance, TCS sees outcome-based pricing as part of its non-linear growth strategy rather than headcount-based pricing. Wipro is also following in the same footsteps. Even Infosys is looking at signing more outcome-based contracts and reduce dependence on headcount. Experts say that the outcome-based pricing contracts reward both the client and the service provider almost equally, hence the inclination.
Source: 06-01-09 www.rediff.com Compiled by Amresh Anjan
Jobspeak Report For Nov: 22.4% Decline In New Jobs Since JulyAccording to the report ‘JobSpeak’ released by Naukri.com, India’s No.1 Job Site, the overall job index in November 2008 is 776 as compared to 1000 in July 2008 indicating a decline of almost 22.4%. The decline is marginal as compared to the drop in previous months. The hiring scenario remained quiet post the festive season, as slowdown sieved through most industries. Mumbai remained subdued on hiring trends with the index hitting a low of 692. Despite the slump, pharma and telecom sectors have maintained stability at the July level. The worst affected sectors include banking and real estate with a decline in jobs by almost 15% in November, as compared to October. The demand for IT hardware and telecom professionals moved up by 13% during the month, while that for IT- software and business development professionals moved up marginally.
Source: 07-01-09 www.naukri.com Compiled by Amresh Anjan
IIT-B Tells Grads To Study FurtherThe Indian Institute of Technology, Bombay, has offered its B Tech/dual degree students the option to study further and take up master’s or research degrees. The offer is attractive at this time as students grapple with the fear of unemployment with the current recession marring the placement season. This will give them a chance to stay on the campus and add to their academic qualifications. However, the dean of academic programmes at IIT-B, Mr S Biswas, has warned students against pursuing further studies only as a shield against the bad job climate. He suspects that next year’s placements will be as bad as or worse than this year's.
Source: 05-01-09 www.dnaindia.com Compiled by Amresh Anjan
AIMA Presents National Summit On Employee Engagement AIMA is organizing its National Summit on Employee Engagement in Mumbai on 30-31st Jan, 2009 at Hotel Taj President. This summit is ideal for CEOs/HR heads/academicians, who will get a chance to learn the concept of employee engagement and will be exposed to live case studies of Gallup Inc. A galaxy of eminent speakers will attend the event and share their innovative strategies. The summit will focus on organizations to keep their existing workers motivated when the world is witnessing a global economic meltdown.
For sponsorship and other details, please contact:
Amit Dey, Tel- 011-24608511,
Email: adey@aima-ind.org
Source: 09-01-09 AIMA Compiled by Amresh Anjan
NIPM’s 27th Annual National ConferenceNational Institute of Personnel Management’s 27th Annual National Conference is being organised at Aurangabad (Maharashtra) - during 22 , 23 , 24 Jan 2009. The conference theme is ‘Reinventing HR in the changing economy’. Over 550 senior HR professionals from leading companies across India are expected to attend the conference. Many well known speakers from across the country and some from abroad will also be addressing the conference.
For further details on delegate nominations OR sponsorships please contact –
Manoj Gupta , Hon. Secretary ,
NIPM Aurangabad chapter office
c/o Omgi Placements , AURANGABAD - 431005 (MS)
Phone - (0240) 2443344 , 2452000
E Mail -- mg@omgijobs.com
Cell -- 0 9271 228 234
Source: 09-01-09 NIPM Compiled by Amresh Anjan
ICICI Solicits Shareholders' Nod For Appointments At The Top ICICI Bank has sought the approval of its shareholders for the appointments of Ms Chanda Kochhar as CEO and MD and Mr K V Kamath as the non-executive chairman from May 1. The bank has asked the shareholders to vote on the proposals, which were approved by the board at the meeting on December 19, through postal ballot by February 11 and the results would be announced on February 13. According to the proposals, Mr Kamath would replace Mr N Vaghul as the bank's non-executive chairman, after he retires on April 30. Ms Chanda Kochhar would be appointed as the bank's CEO and managing director in place of Kamath, from May 1, 2009 to March 31, 2014. Shareholders have also been asked to give their approval for the remuneration and other benefits to be paid to Kamath and Kochhar in their new roles.
Source: 07-01-09 www.financialexpress.com Compiled by Amresh Anjan
Post Wage Revision, Coal India Workers Cancel StrikeAs the Coal India Ltd management agreed on a five-year wage agreement with a 24 per cent hike in salaries for workers, over 500,000 non-executives called off their three-day nationwide strike. The management at CIL and the worker unions have entered into a memorandum of understanding on the wage agreement in Hyderabad. It will be signed in the capital on January 23-24, he said. As per the MoU, the wage agreement would be effective with retrospective effect from July 1, 2006 and the employees would be eligible for arrears from the effective date.
Source: 05-01-09 www.rediff.com Compiled by Amresh Anjan
More Health Insurance Claims Filed By The Fairer Sex According to data collected from the 28 third party administrators (TPAs) for the year 2007-08 and released by the Tariff Advisory Committee, females claim in larger numbers and higher amounts in health insurance policies than males. A total of 6,50,070 females claimed Rs 1,359 crore from non-life insurance companies with the average claim being Rs 20,903. On the other hand, the number of claims from males were 6,08,023 and the claim paid was Rs 1,150 crore with an average of 18,922. The corporate health insurance policies generally cover the employee, his spouse and dependants (parents or children) and include maternity benefits. Experts believe the reason is that most corporate policies provide maternity benefits where claims are registered the most. Secondly, while claiming maternity benefits, the delivery is tending towards cesarean rather than normal delivery leading to higher claim amounts.
Source: 09-01-09 in.biz.yahoo.com Compiled by Amresh Anjan
Air India Puts Voluntary Leave Plan On HoldDue to the adverse conditions in the aviation sector, Air India has shelved the voluntary leave plan for its employees, which was under consideration for some time. The scheme was aimed at shedding flab from the airline. Under the scheme, interested employees were given the option to go on leave for two to five years without pay and rejoin services at the same rank with all the benefits befitting their rank. However, now it has been put on the back burner. It evoked very weak response from the employees post the merger of Air India and Indian Airlines. Now, the airline plans to redeploy officials from overstaffed departments to other leaner outfits within the organisation. Meanwhile, in another development, Air India has sacked ten air hostesses for being overweight.
Source: 06-01-09 Hindustan Times Compiled by Amresh Anjan
Motorola India Lays Off Sales ForceMotorola India has laid off more than 200 people hired just a few months ago to drive its mobile handsets sales. All the sacked employees have been paid two months salary in lieu of notice period. For now, the company will continue with its current model of doing business through its distributors.
Source: 09-01-09 Hindustan Times Business Compiled by Amresh Anjan
Aluminium Major Alcoa To Cut 13,500 jobsAlcoa Inc. has decided to cut 13,500 jobs, amounting to 13 percent of its work force. The world's third-largest aluminum maker has resorted to this desperate measure to cope with the global economic slowdown. Lower aluminum prices, weaker demand and a charge from curtailing a smelter in Texas led to a 52-percent decline in third quarter profit for Alcoa. The Pittsburgh-based company will also sell four business units and impose a global salary and hiring freeze.
Source: 06-01-09 www.businessweek.com Compiled by Amresh Anjan
Japan’s Sanyo May Cut 1000 JobsAccording to a press report, Japan's Sanyo Electric Co may slash up to 1,000 jobs to overhaul its struggling businesses before being bought by Panasonic Corp. The electronics giant may shed regular employees in Japan, mainly in the semiconductor division, by the end of March. Hundreds of the 2,000 regular jobs at wholly owned unit Sanyo Semiconductor Co. are expected to be fired under an early retirement programme. Currently, employs some 10,000 workers worldwide.
Source: 06-01-09 Hindustan Times Business Compiled by Amresh Anjan
International Job GloomThe global economic slowdown has cast its shadow across nations. Major international companies are resorting to job cuts to rein in costs. As per the government data released by the US, the country’s private sector lost 6,93,00 jobs in December. US computer storage firm EMC slashed 2,400 jobs. Computer-maker Lenovo announced plans to axe 2,500 employees, which is 11 per cent of its workforce. Japanese electronics component maker TDK announced that it would cut 8,000 jobs. Mitsubishi Motors will cut up to 2,000 jobs by March. More than 400 workers are likely to lose their jobs at Barclays Bank. Car manufacturer Nissan is shedding 1,200 jobs at its Sunderland plant. The world's largest computer mouse maker, Logitech International plans to cut 15 percent of its salaried workforce. British retail giant Marks & Spencer Group PLC will cut 1,230 jobs and close 27 of its stores.
Source: 08-01-09 Hindustan Times Business, news.yahoo.com, news.bbc.co.uk Compiled by Amresh Anjan
Mr Barack Obama Considering Major Jobless AidUS president-elect Mr Barack Obama and Congressional Democrats are planning major expansions of government-assisted health care insurance and unemployment compensation. The plans are part of their intensive work on a two-year economic recovery package. According to one proposal, unemployment compensation would be extended to part-time workers. Other policy changes would subsidize employers’ expenses for temporarily continuing health insurance coverage to sacked and retired workers and their dependents.
Source: 05-01-09 www.indianexpress.com Compiled by Amresh Anjan
Mr Gordon Brown Prepares Plan To Contain UnemploymentBritish prime minister Mr Gordon Brown has unveiled plans to check recession effects by creating up to 1,00,000 jobs and building a low-carbon economy. The government will undertake school repairs, new rail links, hospital projects and plans to usher in a new digital age by investing in super-fast broadband to keep unemployment down.
Source: 05-01-09 Hindustan Times Business Compiled by Amresh Anjan
Bank Of America CEO To Forego 2008 BonusAfter Citigroup Inc's CEO Mr Vikram Pandit and JPMorgan Chase & Co's Mr Jamie Dimon, Chief Executive of Bank of America Corp Mr Kenneth Lewis has decided to skip his bonus for 2008. According to reports, he has recommended to his board of directors that he not receive a bonus for 2008. Mr Lewis thus joins the bandwagon of many Wall Street chief executives who are not receiving bonuses in wake of heavy losses for the industry, share price plunges and government rescues.
Source: 06-01-09 news.yahoo.com Compiled by Amresh Anjan
Mr Bob McCann To Quit MerrillThe head of brokerage at Merrill Lynch & Co Mr Bob McCann has decided to leave the securities firm. The decision comes just days after the firm was acquired by Bank of America. His plans were announced by Mr John Thain, the former Merrill chief executive who is now president of Bank of America's global banking, securities and wealth management businesses.
Source: 05-01-09 news.yahoo.com Compiled by Amresh Anjan
Wipro Appoints Mr Kirk Strawser As Global Head Wipro Technologies has appointed Mr Kirk Strawser as global head, Wipro Consulting Services. Mr Kirk Strawser possesses more than 22 years experience in senior leadership roles in the consulting industry. Previously, he has worked with brands that include Americas Leader CRM for Ernst & Young, LLP, Global Leader CRM, Capgemini and in his most recent role as president, consulting services, Capgemini Americas.
Source: 07-01-09 Business India Compiled by Amresh Anjan
Ms Rashmi Iyer Joins HSBC Insurance Brokers (India) As MDMs Rashmi Iyer has left ICICI Lombard General Insurance where she was vice-president to join HSBC Insurance Brokers (India) as managing director. She possesses 25 years of experience in the industry having worked in several fields including reinsurance, underwriting and product development.
Source: 08-01-09 Business India Compiled by Amresh Anjan
Fujitsu Consulting Gets New PresidentMr Rajeev Gupta has been appointed as the new president of Fujitsu Consulting’s Indian operations. He has also become a member of the executive management team for Fujitsu America.
Source: 08-01-09 Business India Compiled by Amresh Anjan
Toyota Asks Workers To Accept Pay CutJapan’s biggest automaker, Toyota Motor Corp., has asked workers to accept a pay cut as it extends a domestic production halt to cope with dropping demand for new automobiles. The company is bound to pay at least 60 per cent of the average full salary, as provided by law. The company is expecting its first operating loss in 71 years as its sales last month plunged 37 per cent in the US.
Source: 09-01-09 Japan’s biggest automaker, Toyota Motor Corp., has asked workers to accept a pay cut as it extends a Compiled by Amresh Anjan
Mr Kirby Adams To Be Corus & Tata Steel Europe CEOThe Tata Steel board has appointed Mr Kirby Adams as chief executive officer of Corus and of Tata Steel Europe. He will replace Mr Philippe Varin, who will step down on April 6 after six years in the role.
Source: 09-01-09 Business Standard Compiled by Amresh Anjan
Webel MD ResignsMr Debanjan Datta, Webel managing director has resigned before the end of his tenure that was to expire on March 31. He is also the chief executive officer of the Bengal government’s electronics and IT promotion arm. The board has accepted his resignation and he will be officially released from Webel services on January 31. He joined the company in April 2006.
Source: 07-01-09 www.telegraphindia.com
Compiled by Amresh Anjan
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