HR Headlines: Mar-09 (Part-4)

Bonus Bonanza For IBM Staff
At a time when firms across the globe are laying off employees, IBM is offering hefty bonuses to its employees this year. For some employees, the bonus will be more than the monthly salary. It will be given with salaries at month-end. The bonus has two components — one linked to an employee’s performance; the other to profits earned. Riding on a consistent performance over the last few quarters, IBM was prompted to announce this hefty bonus. While entry and mid-level developers will get a bonus of Rs 12,000-15,000 this year, managers at junior levels are set to get over Rs 1 lakh.
Source: 20-03-09 Telegraph Compiled by Amresh Anjan

Infosys To Deploy 10,000 Employees On Internal Projects
In the wake of dropping business, Infosys Technologies Ltd would utilize about 10% of its 100,000 employees on internal projects. These employees would work on projects such as writing programming code for human resource systems, invoicing systems, inter-departmental communication systems and training curriculum, among others. People who have about a year’s experience in the field would be used on these projects while the more seasoned hands will be employed developing intellectual property. Infosys says the primary objective of the initiative is to keep the employees’ programming skills sharp.
Source: 19-03-09 www.livemint.com Compiled by Amresh Anjan

In India, RBS Will Retain 8,000 Employees
The Royal Bank of Scotland (RBS), operating in India under the ABN Amro brand, would retain a few branches in India after the sale of its retail and SME banking business. Consequently, it will retain around 8,000 employees in India. Currently, the bank employs around 10,000 employees in India, with 7,500 in Aces, its business process outsourcing unit and product development centre, while another 500 are in the non-retail banking units, who would be retained.
Source: 20-03-09 www.business-standard.com Compiled by Amresh Anjan

IIM Indore Sees 21% Dip In Salaries
It is tough time for MBA graduates even from elite B-schools of India as was evident from the fact that salaries for the 2009 batch of the Indian Institute of Management, (IIM) Indore dipped by 21 per cent. The institute said that its batch of 175 students averaged an annual salary offer of Rs10.29 lakh, a 21% dip from the Rs13.07 lakh average offer last year. This year, the B-school had 126 recruiters on campus, 71 of them first-time ones. Virgin Mobile, Manipal Group, Punj Lloyd and Jindal Steel were among the new recruiters at IIM Indore.
Source: 16-03-09 www.livemint.com Compiled by Amresh Anjan

Pension Scheme For Private Sector Employees Deferred
In the wake of the upcoming elections, the Pension Funds Regulatory Development Authority (PFRDA) has deferred the implementation of a new pension scheme for employees in the private sector, which would allow limited investment in stock markets. The scheme was scheduled to be launched on April 1. As per the model code of conduct for elections, it was not possible for the regulatory body to continue its information campaign about the new pension system.
Source: 18-03-09 www.telegrapgindia.com Compiled by Amresh Anjan

ANZ Denies Shifting Australian Jobs To India
Australian ANZ Bank has denied reports that it is shifting 500 jobs to India. The firm will also not make any substantial cut in employment in 2009, including jobs in Australia. Last week, there were reports that ANZ was offshoring its back-office operations in Melbourne to India by the end of the year. The bank has further said that the nature of some people's jobs may change and they may be redeployed within the group. In India, ANZ employs 3,000 people at its technology centre in Bangalore.
Source: 19-03-09 www.rediff.com Compiled by Amresh Anjan

US Workers On Unemployment Benefits At A Record High
As the US economy battles a severe recession and new jobs are becoming hard to come by, the number of US workers drawing state unemployment benefits touched another record high early this month. As per the figures issued by the Labor Department, the number of people staying on state benefits increased by 185,000 to 5.47 million in the week ended March 7. However, the number of people filing new claims for jobless benefits fell to a seasonally adjusted 646,000 in the week ended March 14.
Source: 19-03-09 www.sify.com Compiled by Amresh Anjan

Return Bonuses: AIG Chief To Staff
Following sharp criticism from taxpayers and federal officials, insurance giant American International Group's chairman and chief executive Mr Edward Liddy has urged its employees to return at least half of the bonuses that were paid to them recently. Those who received retention payments of $100,000 or more have been asked to return at least half of those payments. Some of employees have already offered to give up 100 per cent of their payments.
Source: 19-03-09 www.rediff.com Compiled by Amresh Anjan

Toyota To Reduce Its Hiring Of New Graduates By Half
Come 2009 and Toyota Motor Corp will nearly halve its hiring of new graduates. This will be the lowest level in more than a decade as the auto giant copes with dropping global demand for cars by cutting costs. Toyota is headed for a record loss in the year ending on 31 March and is looking to slash fixed costs including labour but without forcing job cuts. The firm plans to hire 1,400 new graduates in the coming financial year down from an estimated 2,733 in the current year. In the US, Toyota has introduced a work-sharing programme and offered early retirement for those who leave instead of joining the programme.
Source: 19-03-09 www.livemint.com Compiled by Amresh Anjan

Nokia to Slash Another 1,700 Jobs Globally
As part of its cost-cutting measures, Nokia, the world’s leading mobile phone maker, has announced another 1,700 job cuts worldwide. Nokia is looking to slash costs by around €700 million euros ($909 million) or more over the next couple of years.
Source: 17-03-09 news.bbc.co.uk Compiled by Amresh Anjan

Standard Chartered Not To Cut Jobs
Despite financial institutes across the globe cutting jobs to control costs, UK bank Standard Chartered Plc has announced that it has no plans to axe jobs but warned that 2009 would be a challenging year. Other major lenders such as UBS, JPMorgan Chase & Co and HSBC have either already cut jobs or have announced plans to do so in a bid to survive the current economic downturn.
Source: 17-03-09 www.livemint.com Compiled by Amresh Anjan

More Firms Announce Job Cuts
As firms across the globe adopt measures to reduce costs, job losses worldwide are piling up. Graco Inc has announced that it will cut an additional 180 jobs, or 8 per cent of its global work force, as it is witnessing a drop in demand for its fluid handling systems and components. The loss-making General Motors unit Saab in Sweden is laying off 750 employees. Eastman Chemical Co is cutting up to 300 jobs and reducing salaries in an effort to trim costs. German industrial conglomerate ThyssenKrupp will axe more than 3,000 jobs or about 1.5 percent of its total staff.
Source: 18-03-09 www.sify.com Compiled by Amresh Anjan

Survey Indicates Most Europeans Want Jobless Migrants To Leave
According to a Financial Times/ Harris poll, majority of people in the five largest member-states of the European Union want jobless immigrants to leave their countries. As the continent faces it worst recession since 1945, there is growing xenophobia among people. 79 per cent of Italians, 78 per cent of Britons, 71 per cent of Spaniards, 67 per cent of Germans and 51 per cent of French have voted in favour of proposals to ask jobless immigrants to leave their countries. 54 per cent Britons opposed the idea of citizens of other EU countries obtaining work in the UK. The poll was conducted among a total of 6,538 adults in France, Germany, Italy, Spain, the UK and the US.
Source: 17-03-09 www.rediff.com Compiled by Amresh Anjan

France Enticing Foreign Skilled Workers
The Immigration Department of France has framed a new policy to woo skilled workers into the country. Three new types of work and residence permits have been introduced. The new skills and talents permit will allow the holder to engage in a salaried or business activity in the country. Intra-company transfer will allow workers expatriated by their company to work for a French subsidiary or be re-assigned within the same group. Another policy for students would allow them to gain professional experience after completion of studies in France.
Source: 19-03-09 Hindustan Times Compiled by Amresh Anjan

Australia To Reduce Skilled Immigration Intake By 14%
The Immigration and Citizenship Department of Australia has said that it will reduce its skilled migration intake by 14% this year. This is being done to stem competition for local jobs. As per the new policy, the skilled migration programme intake will be cut from 133,500 to 115,000, with jobs in the construction industry largely hit.
Source: 16-03-09 www.livemint.com Compiled by Amresh Anjan

UK Unemployment Rate Highest In 12 Years
According to Office for national Statistics, the jobless rate in United Kingdom rose to 6.5 per cent in the three months ending January. The figure is highest in 12 years as more than two million people go jobless across the country. The unemployment rate was 6.3 per cent for the three months ending in December.
Source: 19-03-09 Hindustan Times Business Compiled by Amresh Anjan

Workers at French Sony Plant Release Locked Up Managers
Workers at a Sony plant at Pontonx-sur-l’Adour in southwestern France detained the chief executive Mr Serge Foucher and several other Sony executives on Thursday night to demand better layoff terms when their factory closes in April. The managers were released mid-morning after workers obtained guarantees of a new round of negotiations.
Source: 14-03-09 Business Standard Compiled by Amresh Anjan

No Ageism In S Korean Job Market
As per a new law in South Korea, age discrimination against jobseekers has been banned. Any company found guilty of ageist recruitment policies will be fined up to 321,000 dollars, says the National Human Rights Commission of the country. Noticeably, South Korea is one of the world’s fastest ageing societies.
Source: 17-03-09 Hindustan Times Compiled by Amresh Anjan

Chief Economist At Citigroup Quits
Citigroup chief economist Mr Lewis Alexander is leaving the troubled financial services firm to join the US Treasury Department where he will work on domestic financial issues. Mr Alexander has been with Citigroup since 1999. Prior to that, he worked at the Federal Reserve.
Source: 18-03-09 www.rediff.com Compiled by Amresh Anjan

New President At Hitachi
Japanese high-tech giant Hitachi has named Mr Takashi Kawamura as its new President, Chief Executive and Chairman. Currently, he heads two of its subsidiaries.
Source: 17-03-09 www.thehindu.com Compiled by Amresh Anjan

Toshiba To Name Mr Sasaki As New CEO
As the Japanese electronics conglomerate Toshiba Corp heads for a record annual loss, it is seeking shareholder approval to appoint vice president Mr Norio Sasaki as its new chief executive in June. Post the reshuffle, current chief executive Mr Atsutoshi Nishida will become chairman, and chairman Mr Tadashi Okamura will become an adviser. 59-year old Mr Sasaki has a long background in Toshiba’s nuclear power business. He also led Toshiba’s purchase of US nuclear power firm Westinghouse in 2006.
Source: 18-03-09 www.livemint.com Compiled by Amresh Anjan

V M Kaul Appointed Director (Personnel), Powergrid
Mr V M Kaul has been appointed Director (Personnel), Power Grid Corporation of India Limited. Prior to this, he was working as Executive Director (Corporate Planning). He possesses 35 years of multi-disciplinary experience of working in Human Resources, Business Development and Joint Ventures and has worked in NTPC and EIL before Powergrid.
Source: 19-03-09 Hindustan Times Business Compiled by Amresh Anjan

Standard Chartered Appoints Mr Sreeram Iyer As COO
Standard Chartered Bank has appointed Mr Sreeram Iyer as Chief Operating Officer for its India operations. In his new role, Mr Iyer will oversee critical operational functions and report to Mr Neeraj Swaroop, Regional Chief Executive, India and South Asia. Earlier, he was the Global Programme Director for the integration of the erstwhile American Express Bank's consumer banking business with Standard Chartered in Singapore.
Source: 16-03-09 www.zeenews.com


Compiled by Amresh Anjan

HR Headlines: Mar-09 (Part-3)

India Better Than Other Nations In Terms Of Employment Outlook
As per the latest survey on hiring trends by Manpower, India fares better than other nations, particularly the developed countries, in terms of employment outlook despite the global economic slowdown. Indian employers have positive plans for the next fiscal thus making it the most optimistic economy for hiring. The survey reports that 25 per cent of employers in India have positive hiring plans for April-June 2009, though a majority of big companies have adopted a wait-and-watch policy. However, for January-March 2009, India reported the worst-ever net employment outlook of 19 per cent. The survey was conducted across 3,600 employers across seven industry sectors. Globally, employers in Singapore, New Zealand and Taiwan expect the deepest cuts in their payrolls.
Source: 12-03-09 www.thehindu.com Compiled by Amresh Anjan

More IIT, IIM Pass Outs Accepting PSU Jobs
With revised pay structure and a proposed 50 to 60% increase in salaries of PSU employees, PSU jobs have become more attractive for young graduates from the prestigious IITs and IIMs. Public sector undertakings are back in the spotlight as preferred job destination for young aspirants at a time when the private sector, reeling under the heat of the global financial meltdown, is cutting salaries and reducing jobs. This was evident from the fact that Bharat Heavy Electricals Ltd (Bhel) has been invited for campus placement by the Indian Institutes of Management (IIMs) after a gap of almost a decade. The company has already picked up 400 engineers from different IITs through campus placement.
Source: 08-03-09 www.livemint.com Compiled by Amresh Anjan

Headhunters Look For Laid Off People At A Bargain
Companies looking for the right people within a budget are now looking to hire those who have been laid off as they can be hired for lower wages and are immediately available for work. Select hiring is still happening at companies in the retail, construction and IT sectors and people who have lost their jobs are being increasingly considered for these positions. However, companies are still putting importance on reference checks to be sure of hiring the right people. Meanwhile, industry veterans have warned that hiring laid-off workers at lower salaries may boomerang when the market revives.
Source: 07-03-09 Hindustan Times Business Compiled by Amresh Anjan

Kerala Housewives Demand Pay For Looking After Families
Housewives in Kerala are peeved that they are paid no remuneration for going through the daily grind of looking after their children and families. Thus, they have formed a trade union now demanding that the government pay them a fixed salary and old-age pension for their services. The union would also work against the concept of polygamy and divorce. Citing the Venezuelan model where housewives are given minimum wages and social security, the union has pointed out that housewives spend at least 273 minutes a day looking after their children and they deserve being paid for it.
Source: 08-03-09 www.rediff.com Compiled by Amresh Anjan

Companies To Turn To Flexible Employee Benefits
A survey by global HR consultancy Mercer says that companies may soon be looking at offering flexible benefit programmes to employees, among other measures, for managing costs and attracting the right talent. In emerging markets like India, China and Vietnam, flexible benefits programmes that allow employees to choose a mix of health insurance and other benefits as per their needs have been gaining importance, reports the Marsh/Mercer Indian Flexible Benefits Survey 2008. Nearly 48 per cent employers surveyed are upbeat about flexible benefits and most of them want to implement it within the next one or two years. Also, 73 per cent of the respondents want their employee benefit programmes to be more relevant to employees' needs and give choice to staff.
Source: 09-03-09 www.rediff.com Compiled by Amresh Anjan

Women Stare at Glass Ceiling As Men Rule Board Rooms
A study by Grant Thorton has shown that globally there has been no change in the average presence of women in senior management roles since 2007. Only 24% of senior positions are occupied by women currently, a figure identical to 2007. 34% of privately owned businesses have all-men senior management. In Philippines, 47% of senior positions are held by women, the highest percentage across the world, followed by Russia (42%) and Thailand (38%). India ranks poorly in the bottom five globally as its percentage share of women in senior management stood at 15% in 2008. Japan is at the bottom most with only 7% senior management positions being held by women.
Source: 07-03-09 Hindustan Times Business Compiled by Amresh Anjan

TCS Freezes Hiring Of Experienced Professionals; Asks 1,300 To Leave
Tata Consultancy Services (TCS) has put a freeze on the recruitment of experienced professionals unless they are approved by the respective business heads for project-specific skills. The biggest Indian IT major has decided to re-train its experienced professionals within the company to take on these roles. Also, the company has asked the operating units to raise the performance bar and utilise resources in the most effective manner. Promotions for the current fiscal year have also been deferred. All these measures are being deployed to ensure that the company is well-braced to deal with the sharp decline in global economic activity. Meanwhile, around 1,300 employees of Tata Consultancy Services have been asked to resign following a routine bi-annual performance appraisal owing to poor performance.
Source: 11-03-09 www.thehindu.com Compiled by Amresh Anjan

Private Airlines Seek Cuts In Pilots’ Salaries
The booming aviation industry of a year ago is in a beleaguered state today and looking at measures to cut costs and stay in the skies. Troubled domestic airlines are looking at paring the salaries of pilots and engineers to rein in spiraling costs. Some airlines have already begun negotiating with pilots and engineers to lower their wages by 20-25%. However, National Aviation Co. of India Ltd, or Nacil, that runs Air India, has given a marginal raise to its pilots following the Sixth Pay Commission recommendations. Kingfisher Airlines Ltd was the first to cut pilots’ salaries by around 15-20%in January. Kingfisher Airlines is also phasing out expatriate pilots and engineers to cut costs. Jet Airways had earlier asked pilots and engineers to accept pay cuts but the proposal was withdrawn in the face of stiff resistance from pilots. Meanwhile this has led to some West Asian carriers poaching Indian pilots and engineers. Qatar Airways, Oman Air SAOC, Emirate Airlines, Etihad Airways and Air Arabia PJSC are aggressively hiring pilots and engineers in India.
Source: 08-03-09 www.livemint.com Compiled by Amresh Anjan

Infosys To Honour All Offer Letters
Despite going slow on hiring due to slowing business, software giant Infosys Technologies has announced that it would employ all those candidates to whom job offer letters have already been sent. Infosys, one of the biggest employers in the country, has put all general hiring in the company on hold as global economic slowdown cast its shadow on company’s business. Although the company has not quoted any numbers, it is believed that Infosys had made offers to 18,000 students of the 2009-10 batch from different campuses. These students will join the company in July.
Source: 13-03-09 www.livemint.com Compiled by Amresh Anjan

Leyland Increases Number Of Working Days
Ashok Leyland, the flagship company of the Hinduja Group, has raised the number of working days at its manufacturing units from three to five. In the wake of dropping demand, the number of working days in a week was reduced from seven to three at its all six manufacturing units in November 2008. Now, the working days have been increased again after the company reported a 33 per cent increase in sales in February. Its sales in February stood at 3,245 units compared to 2,444 in January.
Source: 12-03-09 Business Standard Compiled by Amresh Anjan

2,000 Officers To Be Hired At IDBI BAnk
IDBI Bank is in the process of hiring 2,000 supervisory officers in the next six months as the state-owned bank is expanding its branch network. The bank has obtained the licence from the Reserve Bank of India to add 200 branches by March 2009. This will take the total number of branches to 700.
Source: 12-03-09 Business Standard Compiled by Amresh Anjan

Mercedes-Benz India To Increase R&D Headcount
Mercedes-Benz India plans to raise its headcount by up to four times at the research and development centre in Bangalore in the next few years. The luxury car maker will invest Rs 150 crore (Rs 1.5 billion) together with its partners for expanding its distribution network in the country. Currently, there are 200-220 engineers working at its Bangalore R&D centre and this number will be raised to between 500 and 1,000 in the next few years.
Source: 09-03-09 Business Standard Compiled by Amresh Anjan

CEO Turnover At an All Time High
Recession and economic slowdown has led to much higher CEO movements in companies than ever before, as indicated by figures kept by recruiting firm Challenger & Gray. Last year, 1,484 US CEOs resigned, stepped down or were fired from the top post. The number comes down to six casualties per business day. As investors grew restive over dwindling share values, the axe was sharpened against the CEOs and resignation outpaced retirement as the leading reason for departure. CEOs at Carrefour, Lenovo, AIG, Merrill, UBS, among others saw the exit route last year. This has also led to executive recruitment firms providing temping service of CEOs, CFOs, chief marketing, human resources and information officers for short-term assignments.
Source: 07-03-09 Hindustan Times Business Compiled by Amresh Anjan

Bank Of America Withdraws Job Offers To Foreign MBAs
Bank of America has become the first US bank to repeal job offers made to foreign MBA students graduating from US business schools this summer. The bank has cited clauses laid out in its bail-out deal as the reason. The $787bn stimulus bill prevents financial institutions that have been bailed out by the government from applying for H1-B visas for highly skilled immigrants if they have made US workers redundant. The number of international students to be affected by this move of the bank is thought to be no more than 50 but business schools are concerned that other banks could follow suit.
Source: 10-03-09 www.financialtimes.com Compiled by Amresh Anjan

10% UK Firms Resorting To Pay Freezes
Nearly ten per cent UK companies are freezing salaries for their employees in an attempt to control costs during the ongoing recession. Incomes Data Services (IDS) reports that firms are also delaying decisions on wages. However, average pay is still increasing, but at a slower rate. Employers reducing the work hours of staff - and as a result their pay - has become an increasingly common feature of the recession as companies look to rein in costs while retaining skilled and experienced staff within the firm.
Source: 13-03-09 news.bbc.co.uk Compiled by Amresh Anjan

Australia Unemployment Rate At Four-Year High
According to official figures, Australia’s jobless rate hit a four-year high of 5.2% in February, its highest level since September 2004, with the number of full-time jobs down 53,800 and part-time jobs up 55,600. The Australian government has already pressed a 42 billion Australian dollar ($27.3 billion) stimulus package to help contain the effects of the global financial crisis.
Source: 12-03-09 www.livemint.com Compiled by Amresh Anjan

US Jobless Rate Touches 8.1%, Highest Since 1983
The US unemployment rate reached 8.1 per cent in February as recession-stricken employers slashed 6,51,000 jobs amid deepening economic turmoil. The figure is the highest since late 1983.
Source: 07-03-09 Hindustan Times Business Compiled by Amresh Anjan

Nissan Restructures Top Management In India
In a rejig of top brass in India, Nissan Motor Company appointed Mr Akira Sakurai as the managing director and CEO of Renault Nissan Automotive India Pvt Ltd (RNAIPL). Mr Sakurai is currently the general manager of the vehicle production engineering division. Also, Mr Kiminobu Tokuyama, current managing director and COO of NMIPL, has been appointed to the position of managing director and CEO of the company. Besides, Mr Shohei Kimura, current CEO of Nissan Motor India Private Limited (NMIPL) and Managing Director and CEO of RNAIPL will return to Nissan in Japan in capacity of corporate vice-president, new vehicle production development division.
Source: 13-03-09 www.rediff.com Compiled by Amresh Anjan

New Vice Chairman At Credit Suisse
Zurich-based Credit Suisse has appointed former US ambassador to India Mr David Mulford as its vice-chairman international. In his new role, Mr Mulford will focus on government as well as corporate clients across the globe. Mr Mulford has served a five-year term as the US ambassador to India. He has also served the US government as under secretary and assistant secretary of the US Treasury for International Affairs from 1984 to 1992.
Source: 12-03-09 www.rediff.com Compiled by Amresh Anjan

Bharti Airtel Restructures Top Brass
In a major rejig at the top management level, Bharti Airtel has announced that Mr Manoj Kohli, CEO and Joint Managing Director, will now focus more on strategy development, governance and organisation development. Mr Sanjay Kapoor has been promoted from President-Mobile Services to a newly-created position of Deputy CEO, who will now lead the Mobile, Telemedia and DTH businesses. Mr Atul Bindal will replace him as President-Mobile Services, while Mr K. Srinivas, who was Executive Director (East) Mobile Services and in-charge of Sri Lanka operations, will take over as Joint President of Telemedia Services. Mr David Nishball will continue as President-Enterprise Services.
Source: 13-03-09 www.thehindu.com Compiled by Amresh Anjan

American Megatrends Appoints New Director & CEO
Mr Sridharan Mani has been appointed as director and Chief Executive Officer for India operations of American Megatrends India Private Limited, a wholly-owned subsidiary of American Megatrends of the U.S.
Source: 13-03-09 www.thehindu.com Compiled by Amresh Anjan

Key Promotions At Timex
Timex Group India Ltd (TGIL) has promoted two of its key senior members. Newly-appointed Timex India president Mr G Kannan has been promoted to become the managing director. The erstwhile managing director Mr Kapil Kapoor has moved up as vice-chairman.
Source: 13-03-09 Business India Compiled by Amresh Anjan

Companies Extending Terms of Honchos
HDFC has extended the term of its chairman Mr Deepak Parekh, who was supposed to retire on March 01, 2009, till December 2009. Similarly, Anbuja Cement has extended the term of its managing director Mr A L Kapoor by one year from 30 April 2009 to April 2010.
Source: 13-03-09 Business India Compiled by Amresh Anjan

Coca-Cola India Hires Ms Sangeeta Pendurkas As VP
Coca-Cola India has hired Ms Sangeeta Pendurkas as vice-president (strategy). In her new role, she will lead the company’s strategic planning initiatives in India and will also spearhead the international business. Earlier, she worked with HSBC Bank, Middle East as chief marketing officer.
Source: 13-03-09 Business India Compiled by Amresh Anjan

Suzlon Energy Names New CFO
Suzlon Energy has appointed Mr Robin Banerjee as its new Chief Financial Officer (CFO) with immediate effect. Prior to this, Mr. Banerjee has held senior leadership positions with responsibilities across global strategy, mergers and acquisitions, finance and treasury across industries such as FMCG, steel, auto components and travel.
Source: 14-03-09 www.thehindu.com



Compiled by Amresh Anjan