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