Naukri JobSpeak Reports A Stable Job Scenario In January Naukri JobSpeak, the monthly Job Index by Naukri.com, reports that overall the Job Index inched up from 697 in December 2008 to 738 in January 2009, an increase of 5% in new jobs. Overall, this implies a 26.2% decline in new jobs since July 2008. Bangalore saw an increase in new jobs by 18% in January 2009 as compared to December 2008. The job index for ITes and BPO industry moved up by 28% in Jan 2009. Functional areas/sectors such as teaching and hospitality inched up above the July 2008 levels indicating a more robust job scenario in these sectors.
Source: 19-02-09 Naukri.com Compiled by Amresh Anjan
Hewitt Predicts Single-Digit Salary Hikes In India A survey conducted by HR consultants Hewitt Associates has indicated that India Inc will see only single-digit salary increases for the first time in six years and the salary increase projections may fall even further in the coming months. Salary increase projections for 2009 in India dipped to 8.2 per cent from an actual increase of 13.3 per cent in 2008. However, the silver lining is that these are still the highest in the Asia-Pacific and among the highest globally. Also, amidst massive layoffs worldwide, less than 16 per cent of companies in India are considering retrenchment. More than 60 per cent of companies in India are still hiring, and nine out of every 10 companies are still giving promotions. The report also shows that FMCG, consumer durables and telecom sectors are projecting double-digit salary increases. On the other hand, the retail sector will offer the lowest increments at 5.3 per cent, followed by infotech firms at 5.7 per cent.
Source: 20-02-09 Business Standard Compiled by Amresh Anjan
Indian Companies Remain Optimistic On Base Salary In '09Despite a general gloom due to the global financial downturn, majority of Indian companies remain optimistic on base salaries. In a survey conducted by consulting firm Mercer, of the 48 Indian companies surveyed across 22 sectors, 69 per cent don't anticipate a freeze on base salaries in the next 12 months. The base salary is determined by individual and company performance and 58 per cent firms consider base salary to be the most effective pay element to align executive remuneration to organisation strategy. Around 38 per cent companies expect lower short-term incentives payouts with 54 per cent anticipating a change there. The survey also indicated that senior executives in India may have to accept smaller performance bonuses for 2008-09. With the economic downturn, companies across sectors are looking to trim costs and cut corporate profits. Around 38% of the companies surveyed expect lower short-term incentive payouts, or variable and performance bonuses, for 2008-09. The results were inferred on the response of human resource heads at 48 companies across 22 sectors in India, of which 31% are multinational and 69% Indian.
Source: 17-02-09 Business Standard, www.livemint.com Compiled by Amresh Anjan
Wipro Trains Employees To Prepare A Multi-Skilled WorkforceIn a bid to reduce hiring without affecting efficiency, Wipro Technologies is training its staff to turn them into a multi-skilled workforce. The IT major is providing training to its employees in different domains and technologies to cater to the current requirements. The company has signed a few large integrated deals, wherein the company is providing both the IT outsourcing and BPO services by a single team. The company has already transitioned some of its employees from each of these two businesses (IT and BPO) to work for such projects.
Source: 19-02-09 www.rediff.com Compiled by Amresh Anjan
Hyundai Re-Inducts Fired TraineesHyundai India Motor Ltd is re-hiring the trainee employees, who were sent out from the factory after their training period two months ago. So far, 200 trainee employees have been hired back. There has been a sudden surge in the demand for skilled employees owing to the Korean auto giant bagging more orders from Europe. At its manufacturing facility in Chennai, the work hours have been increased to 9-hour in each shift a day from 8-hours to increase the production. Earlier, the company was running three shifts to produce around 52,000 cars a month but had to cut it down to two shifts at the end of December, to drag down the production on the back of a global slowdown.
Source: 14-02-09 Financial Express Compiled by Amresh Anjan
Low Pay Hikes In The Offing For Infosys Employees The Chief Financial Officer of Infosys Technologies has said that employees of the IT major may get pay hikes below 10 per cent this year. In 2008-09, overseas employees were given a pay hike of 14 to 15 per cent, while onsite employees received a 4 to 5 per cent hike.
Source: 17-02-09 www.rediff.com Compiled by Amresh Anjan
Ford To Hire 1,000 Staff This YearFord India, a wholly owned subsidiary of Ford Motor Company, USA, will hire 1,000 employees in India this year. Currently, it has 6,000 staff across various levels in the country.
Source: 20-02-09 The Statesman Compiled by Amresh Anjan
RBI Staff Observe StrikeOfficers and employees of the Reserve Bank of India went on mass casual leave on Friday leading to a virtual paralysis of operations in the money market. The strike was observed by staff across all offices, as reported by the United Forum of Reserve Bank Officers.
Source: 20-02-09 The Statesman Compiled by Amresh Anjan
Maytas Infra On A Job Cutting Spree In the last two months, Maytas Infra and Maytas Properties have axed 600 and 200 jobs respectively. Maytas has closed down a number of its operations and the people working there were asked to leave without any prior notice. These people were paid salaries only till December. Also, it has been learnt that some senior Maytas employees have voluntarily opted out from taking their December as well as January salary because the company is running under financial pressure.
Source: 18-02-09 www.moneycontrol.com Compiled by Amresh Anjan
No Salary For Past 5 Months For 15,000 Subhiksha Staff Reeling under huge losses, distressed retailer Subhiksha has admitted that its 15,000 employees have been unpaid since October last. Employees Provident Fund Organisation has directed it to pay the assessed dues at the earliest. One of Subhiksha’s major shareholders, ICICI Venture, has reportedly sought an inquiry into the affairs of the company and also an independent audit.
Source: 19-02-09 Financial Express Compiled by Amresh Anjan
1.09 lakh Export Jobs Lost In The Last Five MonthsThere have been over one lakh job losses in the export sector in the last five months due to the global downturn. The current financial slowdown has affected businesses particularly in the US and European countries badly impacting India's exports. In a sample survey of 402 exporting units spread over 17 different sectors, job losses to the tune of 1,09,513 were revealed during the period August 2008 to mid-January. The most affected sectors include gems and jewellery, leather, textiles, handloom, carpets and handicrafts.
Source: 18-02-09 www.rediff.com Compiled by Amresh Anjan
Leyland Slashes Staff SalaryIn view of the slowdown in the industry, Ashok Leyland is undertaking cost-cutting measures including a 20 per cent reduction in wages across the board compared to last year. The company is looking at cutting down the capital expenditure from around Rs 1,000 crore to Rs 800 crore.
Source: 14-02-09 Business Standard Compiled by Amresh Anjan
Satyam Board To Downsize Senior TeamWith a view to make Satyam Computer Services viable for investors, its government constituted board is looking at reducing the number of senior managers. This has already led to the company's two senior vice-presidents, Mr Anil Kumar and Mr Subu D Subramaniam, putting in their papers in the past few days. However middle-level employees will not be retrenched.
Source: 17-02-09 Business Standard Compiled by Amresh Anjan
Obama Is HiringThere has been a huge rush of applications to fill ‘several thousand’ politically appointed positions in the Executive Branch of the President Barack Obama-led government. The White House has already received more than 3,50,000 applications hinting at an intense competition. In a posting on its official blog, the White House has said that it has been interviewing many for the upper level positions, but the final decisions will be taken only over the next few months. Also, it has noted that the selection process would be very competitive and rigorous. In the application form, a candidate is required to furnish details including background information, work experience, resume, education, management experience, private sector experience, government experience, non-profit, academic and political experience, international experience, desired positions in the Obama-Biden administration and references.
Source: 15-02-09 Financial Express Compiled by Amresh Anjan
No Onsite Recruitment At CapGeminiParis-based IT services and consultancy firm CapGemini has retracted its target of hiring 40,000 employees in India by the end of 2010 in the wake of the current economic slowdown. Currently, it has a headcount of 24,000 in India. Also, a few businesses in CapGemini will grow their headcount despite the overall drop in hiring. In India, the company will continue to hire in the infrastructure management, BPO and consulting businesses. Globally, the company has either reduced its hiring or has completely put a freeze on the numbers.
Source: 17-02-09 www.rediff.com Compiled by Amresh Anjan
Employees, Tata-JLR Reach Agreement To Save Jobs In a significant development, employee unions have reached a temporary key framework agreement with the beleaguered Tata Motors-owned Jaguar Land Rover that would prevent compulsory job losses in the near future. The latest agreement would safeguard the shop-floor jobs of over 800 hourly-paid workers and 300 salaried staff at JLR plants at Castle Bromwich, Solihull and Halewood. The deal aimed at offsetting costs will now be recommended for acceptance in a workforce ballot of around 12,000 workers over the next three weeks.
Source: 17-02-09 www.dnaindia.com Compiled by Amresh Anjan
KFC To Expand In UK; Create 9,000 New JobsFast food chain KFC is expanding operations in the UK by pumping in £150m to open 300 new outlets over the next three to five years. Also, this will lead to the creation of 9,000 new jobs in the region. The chicken chain is reporting good business during the recession as people are drawn to cheaper food.
Source: 16-02-09 news.bbc.co.uk Compiled by Amresh Anjan
Vacancies At Buckingham PalaceEven as unemployment in the UK hit a 10-year high with the number of unemployed nearing the 2.0 million mark, there are a few vacancies up for grabs at the most coveted address- Buckingham Palace. The job vacancies have been posted on the official website of Queen Elizabeth II. The jobs include that of trainee butler and housekeeping assistant. Aspiring candidates would have to submit their applications and book interviews with Buckingham Palace online.
Source: 19-02-09 www.forbes.com Compiled by Amresh Anjan
Global Economic Downturn Claims Further Jobs The unyielding global economic downturn is claiming more and more jobs worldwide with companies announcing layoffs to reign in mounting costs. America’s two auto majors— General Motors and Chrysler — have decided to cut 50,000 jobs. The biggest US tyre maker Goodyear Tire & Rubber Co. plans to cut 5,000 jobs this year. US-based Smithfield Foods Inc. plans to cut 1,800 jobs and close six factories. German car maker BMW AG is cutting around 850 jobs at its Mini plant in Oxford. Car parts firm GKN is cutting 564 jobs in the UK. Foster’s Group Ltd, Australia’s largest brewer, will axe nearly 300 jobs. Mining major Anglo American will be slashing 19,000 jobs in 2009. The state of California in the US has notified 20,000 state workers that their jobs may be eliminated. Brazil's Embraer plane maker has decided to cut its work force by about 20 per cent amid declining revenues. Walt Disney Co. will lay off an unspecified number of workers as it restructures its US theme parks. Hindalco's foreign subsidiary Novelis will be slashing as many 10% jobs across locations.
Source: 17-02-09 Financial Express, Business Standard, www.dnaindia.com, www.livemint.com, news.bbc.co.uk Compiled by Amresh Anjan
Mr Alan Rosling To Quit Tata Sons Mr Alan Rosling, executive director of Tata Sons, is quitting the firm. Joining the Tatas in 2004, he had been the face of some of the Tata group’s early global forays, including the much-publicised Bangladesh plan that envisaged setting up four major projects, including steel, power and fertiliser plants. He is also a director of Tata AutoComp Systems and Tata International.
Source: 16-02-09 www.telegraphindia.com Compiled by Amresh Anjan
Jet Group CEO QuitsJet Airways group CEO Mr Ravi Chaturvedi has put in his papers at the company. Mr Chaturvedi had joined Jet Airways in October last year from FMCG major Procter & Gamble. The past two years have witnessed exits of several top management personnel from the company.
Source: 18-02-09 www.rediff.com Compiled by Amresh Anjan
Sony CEO QuitsMr Kunal Dasgupta, CEO, Multi Screen Media, which operates the Hindi general entertainment channel Sony has resigned from the company. He joined Sony Entertainment Television in 1995 and has quoted personal reasons for his resignation. Mr Man Jit Singh has been appointed the interim CEO.
Source: 20-02-09 Business Standard Compiled by Amresh Anjan
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