| Hiring Activity Down By 4.7% In Apr’09: Naukri JobSpeak |
| Naukri JobSpeak for April shows that hiring activity was down by 4.7% in Apr’09 as compared to Mar’09. The overall job index declined from 711 in Mar‘09 to 677 in Apr’09. A mild drop was seen in hiring activity across most cities while Hyderabad picked up after a long slump. Hiring activity in BPO and ITeS dropped by 22%, and hiring activity for sales and business development professionals saw a dip too. The insurance sector saw a decline for the second consecutive month, with hiring in this sector witnessing a dip of 11 per cent, compared to March 2009. |
| Source: 21-05-09 www.naukri.com Compiled by Amresh Anjan |
| MS, Yahoo!, Google Hiring Steadily In India |
| Despite trimming their workforce worldwide, Microsoft, Yahoo! and Google are still hiring in India. These companies are cutting jobs in India too but they are also hiring simultaneously. Microsoft is looking to hire in India as per the state of the economy amid the firm proceeding with 5,000 job cuts worldwide, including 55 employees in India. Search engine giant Google has plans of pruning as many as 200 jobs in sales and marketing operations worldwide while the firm is still hiring for about 20 positions in engineering operations, finance and software engineering, among others in India. Similarly, Yahoo! too would be reducing its employee strength, however, the company has over 100 vacancies in India. |
| Source: 20-05-09 www.rediff.com Compiled by Amresh Anjan |
| Wipro Chief Takes Pay Cut; Top Brass Gets Hike |
| In the fiscal year 2008-09, Wipro chief Mr Azim Premji took a pay cut of about 10% in his annual compensation. The total remuneration paid to Mr Premji dropped by $32,414 (about Rs14 lakh) to $2,96,142 (about Rs1.37 crore). In the previous fiscal, he received a total remuneration of $3,28,556. However, the company paid higher pay packets to many of its other executive directors and senior management personnel in 2008-09. For its non-employee directors, the attendance fee was raised to Rs 20,000 per meeting from Rs 10,000. Besides, the company paid a total of Rs1.46 crore as commission to them in 2008-09, up from about Rs 86.02 lakh in the previous year. Wipro’s chief financial officer Mr Suresh Senapaty got a total compensation of $408,246 in 2008-09, up from $317,751 in 2007-08. The pay package of Mr Pratik Kumar, executive vice-president (HR) rose from $230,507 to $290,201. |
| Source: 21-05-09 www.livemint.com Compiled by Amresh Anjan |
| PF Withdrawals Rise By A Record 32% in 2008-09 |
| As a clear sign of tough financial times, the Employees’ Provident Fund Organisation (EPFO) saw a record number of people emptying their PF accounts recently. In 2008-09, it rose by a record 32%, up from a 10 per cent increase the year before. The total number of withdrawal applications filed across India crossed the 1 crore mark. In Delhi alone, the average applications filed per month rose to 1 lakh between Oct 2008 and Mar 2009, from 30,000 between Apr and Sept 2008. According to a labour ministry report, about five lakh people lost their jobs between Oct and Dec 2008. |
| Source: 22-05-09 Hindustan Times Compiled by Amresh Anjan |
| EPFO Goes The E-way |
| The use of technology at the EPFO is set to speed up the payout of provident fund for its beneficiaries. The claim settlement period will be brought down from existing 30 days to seven days by November, when the computerization of all its 118 offices will be over. Secondly, in a major relief, the subscribers will now be able to view their PF balances and status of their claims online. Also, no claims would be allowed to be pushed forward ahead of the queue. After the second phase of computerization, the processes will be streamlined further when the subscribers would be able to access services online ‘anytime-anywhere’. |
| Source: 18-05-09 Hindustan Times Business Compiled by Amresh Anjan |
| TCS Lucknow Centre To Raise Headcount To 1,500 |
| Tata Consultancy Services, the country’s largest software exporter, plans to raise its headcount at the newly inaugurated Lucknow centre by three times in the next two years. Currently, the facility employs 550 people and expects to increase it to 1500 workers over the next two years. |
| Source: 18-05-09 Hindustan Times Business Compiled by Amresh Anjan |
| Each Infosys Employee Worth Nearly One Crore |
| Going by the potential value of their future earnings for the company, each employee at IT major Infosys Technologies is worth as much as Rs 97 lakh. Infosys’ total value of human resources, including both software professionals and support staff, is measured at Rs 1,02,133 crore for the fiscal ended March 2009. The company's annual report says that this value was for 1,04,850 employees during the same period. On an average, the same translates into a value of about Rs 97 lakh for each employee. The value is computed using the ‘Lev & Schwartz’ model. |
| Source: 18-05-09 Hindustan Times Business Compiled by Amresh Anjan |
| Infosys To Ramp Up Headcount In US |
| Infosys Technologies plans to recruit about 1,000 people in the US in the next 12 to 18 months. Currently, 14,000 of the company's 1,04,000 employees are based in the US. Infosys chief executive Mr Kris Gopalakrishnan has said that the company is adding to its employee strength in the US in anticipation of growth resuming in 2010. |
| Source: 21-05-09 www.rediff.com Compiled by Amresh Anjan |
| Tata Motors To Hike Salaries Despite Slowdown |
| Even amid the market slowdown and dropping sales, Tata Motors Limited plans to give salary increments to its staff for 2009-10. The wage hikes would not be as high as last year. The exact wage increment structure for the current year is yet to be decided. During the last three years, the average wage increment was around 12-13 per cent but this year it would be in single digits. The company has ruled out any possible downsizing this year. Since last year, Tata Motors has formulated a new policy whereby increments were given on performance basis, while raising the basic salary component was restricted. The total amount of hike is given in the allowance form and not in basic thus not raising the company’s contribution to provident fund and gratuity. |
| Source: 19-05-09 Business Standard Compiled by Amresh Anjan |
| Yahoo! India Appoints Mr Arun Tadanki As MD |
| Internet search major Yahoo! has appointed Mr Arun Tadanki as managing director of its India operations. This position was lying vacant since August 2007 when the previous MD of the company Mr George Zacharias left the firm. As MD, Mr Tadanki will be responsible for expanding and consolidating business in India as well as sub-continental Asia, Middle East and Africa. |
| Source: 20-05-09 www.dnaindia.com Compiled by Amresh Anjan |
| Global Job Cuts Refuse To Relent |
| Job cuts across the globe in various industries are piling up as more and more companies announce lay off plans. In the airline industry, Air France-KLM is looking to shed 3,000 jobs in its current financial year. Nokia, world's largest mobile phone maker, will be pruning its global workforce again by another 490 jobs, with as many as 170 positions to be slashed in logistics, production management and production support areas. American Express has announced that it will be eliminating about 4,000 jobs as part of a plan to reduce another $800 million in costs for the remainder of the year. Technology major Hewlett-Packard has decided to slash more than 6,400 jobs or about two per cent of its global workforce in the coming months. Dutch state-controlled bank ABN Amro plans to axe a net of 4,000 to 5,000 jobs. Irish lender ACC Bank has announced that it will cut 200 jobs and close 16 branches around the country. |
| Source: 20-05-09 news.bbc.co.uk, www.rediff.com, www.livemint.com, www.dnaindia.com Compiled by Amresh Anjan |
| US Post Office Slashed 25,000 Jobs |
| To reduce huge monetary deficits, the U.S. Postal Service eliminated 25,000 jobs this year. Currently, postal employment in US is below 635,000, down from about 800,000 in 1999. Thousands of carrier routes have also been done away with as mail volume has declined. The agency still faces a potential $6.5 billion loss this year. |
| Source: 21-05-09 www.sify.com Compiled by Amresh Anjan |
| Rolls-Royce Generates 150 Manufacturing Jobs |
| Rolls-Royce Motor Cars has created 150 new manufacturing jobs at its factory in Goodwood, West Sussex, increasing its total workforce to 900. Rolls-Royce is expanding to hire more workers to produce the Ghost, its latest model. Other luxury carmakers such as Bentley and Aston Martin have been scaling back production during the recession. |
| Source: 20-05-09 news.bbc.co.uk Compiled by Amresh Anjan |
| US Jobless Benefit Claims Drop |
| Giving a glimmer of hope to the strained job market in the US, the jobless claims fell by 12,000 for the week ended May 16 to reach 6,31,000 compared to 6,43,000 in the previous week, according to the US Labor Department. |
| Source: 21-05-09 www.business-standard.com Compiled by Amresh Anjan |
| BoE Expands Its Bonus Pool |
| The Bank of England has raised its bonus pool and took on the most staff in more than two decades. The bank has lifted the budget for the bonus pot in the year through February to 8.1% of salaries from 7% in the previous year. The number of full and part-time employees grew by about 6% to 1,857, the highest since 1987. |
| Source: 20-05-09 www.financialexpress.com Compiled by Amresh Anjan |
| Nomura To Add Staff In US |
| Japanese brokerage firm Nomura Holdings Inc is looking to hire more people later this year in the US. It has already recruited 135 employees in the last eight months in the US. Despite the company trimming its employee base by 2,100 to 25,626 between October and March, it was still hiring in the US. The company has about 750 employees in North America, up from 650 in September. |
| Source: 18-05-09 www.financialexpress.com Compiled by Amresh Anjan |
| More Senior Level Exits At Diageo India |
| More Senior Level Exits At Diageo India |
| Source: 20-05-09 www.financialexpress.com Compiled by Amresh Anjan |
| Reliance BPO Chief Quits |
| Mr Rajnish Virmani has put in his papers as president and chief operating officer of Reliance BPO Pvt. Ltd. Prior to joining Reliance Communications Ltd in November 2007, Mr Virmani was with Aviva Global Services, the offshoring arm of UK’s largest insurance group Aviva Plc. |
| Source: 19-05-09 www.livemint.com Compiled by Amresh Anjan |
| New Chairman And Managing Director At Nestle India |
| In an internal restructuring, Nestle India has announced that Mr Martial C Rolland, chairman and managing director shall be moving on to take up a new assignment within Nestle Group. It is proposed that he would be replaced by Mr Antonio Helio Waszyk who is presently the Head of Food Strategic Business Unit, Nestle Group, Switzerland. The changes are scheduled to be effective 01 October 2009. |
| Source: 21-05-09 www.profit.ndtv.com Compiled by Amresh Anjan |
| TVSE Services Appoints New MD & CEO |
| TVS Electronics has appointed Mr S. S. Raman, director, as a whole-time director and CEO for TVS Electronics and managing director for the recently formed TVSE Services. |
| Source: 20-05-09 www.thehindu.com Compiled by Amresh Anjan |
| Wunderman India Appoints Mr Leroy Alvares As CEO |
| Mr Leroy Alvares has quit Tribal DDB India as president to join Wunderman India, the direct marketing arm of Rediffusion – Y&R, as the new CEO. At Wunderman, Mr Alvares will replace Mr Satish Sathyanarayan, who quit recently to launch Dentsu’s CRM arm. |
| Source: 19-05-09 www.alootechie.com Compiled by Amresh Anjan |
| New VP At InfoPrint Solutions |
| InfoPrint Solutions Company, a joint venture between IBM and Ricoh, has appointed Mr Christopher Reid as vice president and general manager of its Asia Pacific operations headquartered in Singapore. Prior to this, he was director of Global Solutions. In his new role, Mr Reid replaces Mr Benoit Chatelard, who was recently appointed senior vice president and general manager of Europe, Middle East & Africa for the company. |
| Source: 20-05-09 www.financialexpress.com Compiled by Amresh Anjan |
| Mr Yatish Rajawat Is New Managing Editor At Bhaskar Group |
| The Bhaskar Group, publisher of Dainik Bhaskar, has named Mr K. Yatish Rajawat as managing editor responsible for all group publications. Prior to this, Mr Rajawat was editor-in-chief of Business Bhaskar, the group’s Hindi business daily. Before joining the Bhaskar Group in May last year, Mr Rajawat was associate editor at Business World and worked at The Economic Times between 1999 and 2007. |
| Source: 20-05-09 www.contentsutra.com Compiled by Amresh Anjan |
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