HR Headlines: Mar-09 (Part-2)

India Inc’s Employees Believe in Survival Of The Fittest
According to a survey conducting by TeamLease on Changing Expectations at Workplace, 80 per cent of employees in India’s corporate sector have expressed belief that in the current slowdown, it is only one’s skills that one can bank on. Improving skill sets is the best thing to do right now as there will be a survival of the fittest in the long run, the survey report suggests. 50 per cent respondents believed that switching to alternate sources of income or entrepreneurship is the best option while 30 per cent say that moving to government jobs is the last option. 27 per cent admitted that they have changed their financial planning pattern recently. City-wise, Delhi has faced the highest negative impact (52%) among employees due to current slowdown. Hyderabad employees are least likely to look for a job while 75 per cent respondents in Mumbai and Pune are looking for new jobs. Layoffs are highest in Mumbai followed by Delhi and Ahmedabad, but low in Chennai and Pune.
Source: 04-03-09 Hindustan Times Business Compiled by Amresh Anjan

50% Drop Expected In Senior Level Hiring This Year
According to a survey by Gallup Consulting on behalf of the Executive Recruiters Association (ERA), 2009 will see a 50 per cent drop in senior level hiring due to the economic slowdown. For middle and junior levels, the estimated drop is 23 per cent and 21 per cent, respectively. With weaker economic growth, companies are expanding less and resorting to cost-cutting measures thus cutting the number of senior level staff. The survey also cautioned that companies will be less dependent on recruitment agencies for hiring. Hiring through consultants is estimated to drop from 32% to 28%. While only 15% hiring will be done through job portals, the share of campus recruitment will be just 7%.
Source: 05-03-09 Hindustan Times Business Compiled by Amresh Anjan

Two Indians In Fray For World’s Best Job
Two Indians have been short listed by the Australian government for the ‘best job in the world’, caretaker of Hamilton Island on the Great Barrier Reef, out of fifty candidates of different nationalities.
Source: 04-03-09 Hindustan Times Compiled by Amresh Anjan

IIM-A Faces The Slowdown Pinch
The global slowdown has come calling at India’s premier management institute Indian Institute of Management, Ahmedabad (IIM-A). The average placement offer this year was Rs 12.17 lakh per annum as compared to Rs 17 lakh last year, a dip of more than 25 per cent. With the economic crisis hitting big recruiters like Lehman Brothers and Merrill Lynch, many first time recruiters bagged IIM graduates this year. For instance, Union Bank made 18 offers this year while Jaypee Capital hired 12 students from IIM-A. The placement season at IIM-A was stretched to nine days this time. Before this year, placements were usually over within five days.
Source: 04-03-09 Hindustan Times Compiled by Amresh Anjan

Pharma, FMCG Hot Employers At IIM-B
With global banking and financial firms making a poor showing at Indian Institute of Management, Bangalore, management graduates were lapped up by pharma, FMCG, manufacturing and consulting companies. IIM-B director Mr Pankaj Chandra has claimed that all the students have been placed. Due to the troubled financial scenario, particularly in the US, financial and banking companies were relatively fewer at IIM-B this year leading to a tilt towards other sector companies that have fared comparatively better.
Source: 04-03-09 www.zeenews.com Compiled by Amresh Anjan

No Variable Pay For Satyam Employees
After announcing a slew of cost-cutting measures, Satyam CEO Mr A S Murthy has announced the withdrawal of variable pay to all employees from April 1. Only the minimum guaranteed amount of 25 per cent would be paid towards variable pay for the third quarter (October, November and December 2008) and the fourth quarter (January, February and March 2009) to all Satyam employees. However, a revenue-linked allowance would be introduced from April 1 only for associates working in approved ‘billable’ roles and who were allocated to billable customer projects.
Source: 03-03-09 www.thehindu.com Compiled by Amresh Anjan

Top Infosys Brass To Be Affected In Case Of Variable Pay Cut
Infosys Technologies, Indian software giant, has said that its senior management personnel would be most affected if company announces a variable pay-cut. Infosys had indicated resorting to such a step after reporting a moderate performance in the third quarter of FY09. The decision came close on the heels of Tata Consultancy Services announcing its plan to review the variable component of employees' salaries every quarter in an attempt to cut costs. At Infosys, the variable component of employees is as high as 50 per cent of the total pay packet of Infosys' senior executives.
Source: 28-02-09 news.in.msn.com Compiled by Amresh Anjan

India And Bahrain To Sign Labour Agreement
India and Bahrain are soon set to sign a Memorandum of Understanding on labour. Overseas Indian Affairs Minister Mr Vayalar Ravi will sign a comprehensive labour agreement with Bahrain’s labour minister Mr Majeed Al Alawi. Once the final agreement is signed, Bahrain will become the fifth Gulf nation to sign an agreement on labour and manpower cooperation with India. The agreement is aimed at giving a fillip to bilateral relations and give better protection to Indian workers. The agreement will facilitate a smooth flow of workers from India, as per the requirements of the kingdom. Another highlight of the agreement will be provision for joint recruitment and training of workers by both countries.
Source: 05-03-09 www.livemint.com Compiled by Amresh Anjan

McAfee To Ramp Up India Headcount
McAfee Inc plans to add around 70 staff to its India workforce as it aims to expand its market share and grow its business in India by 40-50% in the next two years. McAfee Inc is a US-based Internet security provider, which has a workforce of nearly 1,200 in the country. The NYSE-listed company says its attrition levels have slipped from 42% a year back to just 10% now.
Source: 05-03-09 Hindu Business Line Compiled by Amresh Anjan

Brit Teen Sacked For Criticizing Job On Facebook
A 16-year old British girl Kimberley Swann was recently sacked from her job after she called it boring on Facebook. She was fired with immediate effect after she posted a comment about her job at Ivell Marketing and Logistics Limited on Facebook and invited her colleagues to read it. Her boss Mr Steve Ivell says that it was done in her best interest so that she could work for a company that would better suit her expectations.
Source: 01-03-09 news.bbc.co.uk Compiled by Amresh Anjan

More Job Losses Reported Across The Globe
In the wake of global economic turmoil, firms across the globe are resorting to job cuts to rein in soaring costs. Reports suggest that the German automaker Opel, a unit of stricken US giant General Motors, might axe 3,500 jobs. Europe’s largest bank HSBC will be cutting as many as 6,100 jobs in America. Novelis, the foreign subsidiary of Aditya Birla group's company Hindalco, has decided to shut its aluminium sheet mill in Wales, in the United Kingdom leading to 440 job losses. The Body Shop ethical cosmetics chain has announced 275 job cuts worldwide, about 150 of them in the UK. Vale Inco, the Canadian subsidiary of Brazilian mining giant Vale, will cut about 900 jobs worldwide. Auto giant Chrysler has cut 1,200 Canadian jobs at its Windsor plant.
Source: 04-03-09 www.livemint.com, www.dnaindia.com Compiled by Amresh Anjan

Microsoft Not To Lay Off Just Foreign Workers
Turning down a senator’s suggestion that foreign workers on H-1B visas should be fired before American citizens, software giant Microsoft has said that there would be no discrimination in layoffs. Microsoft has made it clear that the job cuts announced in January will affect both H-1B visa holders and US citizens inside the country, as well as non-Americans employed outside the United States. Thus, the software major has laid to rest all speculation regarding its policy on H-1B workers. Microsoft has upheld the contributions made by H-1B workers to Microsoft’s innovation successes. Microsoft is the largest recipient of H-1B visas among American companies.
Source: 05-03-09 Hindustan Times Business Compiled by Amresh Anjan

MphasiS Mulls Hiring More Americans To Avail US Tax Sops
MphasiS Ltd, the Bangalore-based IT services firm that is now a part of international technology giant Hewlett-Packard, is likely to add more Americans to its workforce to avail the tax breaks recently announced by US President Mr Barack Obama. The firm is evaluating other things like onsite cost versus margins and client willingness before taking a decision. The company currently has 29,988 employees, 1,721 work onsite, with the rest being offshore.
Source: 28-02-09 www.dnaindia.com Compiled by Amresh Anjan

Over Six Million Chinese Graduates Swarm Job Fairs
With the slowdown in global economy and a severe fall in Chinese exports, unemployment has spread its wings all over the country. This is apparent by the number of jobseekers frequenting job fairs in China. Around 6.1 million graduates of China’s class of 2009 are visiting job fairs this year and an estimated one million graduates of the class of 2008 are still unemployed. Chinese Premier Mr Wen Jiabao has announced a target of nine million jobs in cities in 2009, officially China’s ‘toughest year’ since 2000. Meanwhile, the Communist Party of China is asking graduates to rationalize their expectations and accept clerical government jobs created in villages or enlist in the army, instead of sitting unemployed.
Source: 06-03-09 Hindustan Times Compiled by Amresh Anjan

Wage Freeze Looms For Millions In UK
The global economic meltdown has made pay freeze likely for millions of private-sector workers in the UK. The Confederation of British Industry (CBI) has warned that a majority of its members will freeze salaries this year as the economy is plunging deeper into recession, and inflation is likely to drop below 0% into deflation. Several companies have already reduced salaries by 20% by putting employees on a four-day week. A survey by the British Chambers of Commerce indicates that 30% of businesses are planning to cut working hours. The pay freezes will be implemented across industry and work levels, impacting professionals and lower-skilled workers, senior executives and junior staff.
Source: 01-03-09 www.timesonline.co.uk Compiled by Amresh Anjan

JLR Staff Agree To Pay Freeze, Four-Day Week; Jobs Safe
In a bid to save their jobs currently threatened by dropping sales and economic slowdown, Tata Group firm Jaguar Land Rover employees have agreed to a one-year salary freeze and a four-day work week. In a ballot conducted by unions GMB and Unite involving 15,000 workers, seventy per cent members accepted the cost-saving measures that will save JLR 70 million pounds a year. JLR offered this deal to its employees in February and promised no compulsory job losses for two years. The company slashed 450 jobs in January.
Source: 05-03-09 www.dnaindia.com Compiled by Amresh Anjan

Mr Ritesh Jain Joins Morgan Stanley
Morgan Stanley has appointed Mr Ritesh Jain as head of Fixed Income for its investment management business in India. In this role, Mr Jain will be the lead portfolio manager for the fixed income boutique with overall responsibility for the management of Morgan Stanley Mutual Fund's liquid and fixed income schemes. Prior to joining Morgan Stanley, Mr Jain was head of Fixed Income at Principal PNB Asset Management Company. Morgan Stanley Investment Management is expanding its business and range of products in India's domestic funds market.
Source: 03-03-09 www.dnaindia.com Compiled by Amresh Anjan

Yahoo! India’s R&D Chief Resigns
Mr Sharad Sharma, the chief executive of the India research and development unit of Yahoo Inc, has put in his papers at the firm. He will be replaced by Mr Shouvick Mukherjee, a 10-year veteran of Yahoo. Mr Mukherjee will be responsible for the centers’ strategic contribution in delivering compelling global products and consumer experiences.
Source: 28-02-09 www.livemint.com Compiled by Amresh Anjan

BP India Appoints Mr Sashi Mukundan as Country Head
Mr Sashi Mukundan has been appointed as the country head by BP India, succeeding Mr Ashok Jhawar who is retiring after 35 years of service at BP. Till now, Mr Mukundan was BP India’s country manager responsible for the company’s exploration and production business in India.
Source: 03-03-09 Hindustan Times Business Compiled by Amresh Anjan

Diageo India’s MD Mr Asif Aadil Resigns
Diageo’s managing director for India Mr Asif Aadil has resigned from the firm. Mr Roland Abella, the chief of Diageo’s Middle East and North African markets has replaced him in India. Prior to his current appointment, Mr Abella was based in Lebanon. Diageo is the world’s largest spirits manufacturer.
Source: 05-03-09 www.livemint.com


Compiled by Amresh Anjan