HR Headlines: Jun-09 (Part-4)

Naukri Job Speak: Hiring Activity Dips By 1.9% In May

According to the latest Naukri JobSpeak report, the Job Index for May, 2009 declined by 1.9 per cent from 677 in Apr‘09 to 664 in May’09. Sector-wise, hiring activity in telecom and pharma sectors was down by 12% and 14% respectively, in May’09 as compared to Apr’09. However, there was cheer for the FMCG sector where Job Index moved up by 9%. In city-wise analysis, Delhi/NCR, Mumbai, Bangalore, Chennai, Hyderabad, Ahmedabad and Chandigarh witnessed a fall, while Kolkata saw an increase in hiring activity by 14%.

Source: 18-06-09 www.naukri.com Compiled by Amresh Anjan

India Inc Created 3 Lakh Jobs In US

According to an India Brand Equity Foundation study, corporate India created 3,00,000 jobs in the US between 2004 and 2007. The report comes at a time when the Indian outsourcing industry is under attack for taking away US jobs.

Source: 18-06-09 www.livemint.com Compiled by Amresh Anjan

Lower Salaries, Fewer Offers At IIT-Kanpur

The slowing economy has affected the number of placement offers at the prestigious Indian Institute of Technology, Kanpur. Around 21 per cent of its students are still waiting for placements this year. Of the 1,037 students who had applied for campus placement, 732 appeared for interviews while only 574 managed to secure final employment. This year, 180 private and public companies were invited but several failed to turn up. Last year, 125 companies had participated in the recruitment process, employing 700 students, while this year 129 companies managed to employ only 574 students. The average salary packages, too, have declined from Rs 6.5 lakh (Rs 650,000) last year to Rs 5.8 lakh (Rs 580,000) p.a. this year.

Source: 15-06-09 Business Standard Compiled by Amresh Anjan

Employers To Bear Employees’ Medical Bills At Private Hospitals

As per the latest directive of the Delhi Consumer Commission, an employee, who enjoys medical benefits by his employer, can get all the expenses reimbursed even if he or she receives the treatment at an empanelled private hospital. The panel noted that the very purpose of bringing private hospitals on the panel of the organisation would be defeated if the employers start refusing reimbursement of treatment to employees.

Source: 18-06-09 www.rediff.com Compiled by Amresh Anjan

iGate To Recruit 400 This Year

Bangalore-based iGate Global Solutions Ltd will take on board 400 people this year. Currently, the firm has 6,500 employees on its rolls including 1,100 overseas. The company might resume campus hiring from January. There have been no retrenchments or salary cuts at the company.

Source: 19-06-09 www.sify.com Compiled by Amresh Anjan

Less Holidays For Central Govt Staff This Year

In 2010, central government employees will have fewer holidays to their credit. It has been decided that central government employees outside Delhi will have just six holidays in 2010. The Department of Personnel published the list of holidays under which eight other holidays fall on Saturdays or Sundays, which in any case are off days. Employees can also avail of three restricted holidays that would be decided by the coordination committees in state capitals from a list of 12 such holidays. Central government staff based in Delhi will have 11 holidays in total: 9 holidays plus two restricted holidays. In 2010, of the three national holidays -Republic Day, Independence Day and Mahatma Gandhi's birth anniversary - the last two occur on Sunday and Saturday.

Source: 16-06-09 www.rediff.com Compiled by Amresh Anjan

Air India Delays Salary Payments To Staff

Reeling under acute cash crunch, Air India, India's national carrier, will defer salary payments for its 31,000 employees by two weeks. Owing to rising fuel surcharge, low-fare regime and lower number of passengers, Air India lost about 40 billion rupees ($800 million) in the fiscal year ended March 31 and would pay 3.5 billion rupees ($70 million) worth of June salaries on July 15 instead of July 1.

Source: 18-06-09 www.sify.com Compiled by Amresh Anjan

Aricent To Ramp Up Headcount

Even as most IT companies have put a freeze on hiring, Aricent, an IT solutions provider to the communications sector, is looking to increase its headcount by about 10 per cent in the current fiscal. The company has about 8,000 people on its rolls globally, while in India, it employs about 6,000.

Source: 18-06-09 www.sify.com Compiled by Amresh Anjan

Dr Reddy's To Add 1,300 Staff This Year

Global drug maker Dr Reddy's Laboratories will recruit 1,300 people this year, including about 350 through campus recruitment. About 300 new employees have already joined and the rest would join in phases. Currently, the company has about 11,000 employees, of which 12 per cent are women and 20 per cent work overseas. The company’s attrition rate has dropped to 12 per cent from the earlier 18 per cent.

Source: 16-06-09 Business Standard Compiled by Amresh Anjan

Karnataka Bank To Split Chairman And CEO Post

Following the Reserve Bank of India directive, Karnataka Bank is splitting the post of Chairman and Chief Executive Officer (CEO). Accordingly, Mr Ananthakrishna would be the non-executive Chairman and Mr P. Jayarama Bhat would be the Managing Director of the bank. Earlier this month, Axis Bank, too, bifurcated the post of Chairman and Chief Executive Officer.

Source: 17-06-09 www.thehindu.com Compiled by Amresh Anjan

Barclays India Eliminates 121 Jobs

Banking entity Barclays India has axed 121 employees from its 5,000 strong workforce in the country. Barclays India is a part of the British banking giant Barclays Plc. It has six entities operating in India employing more than 5,000 people for the past 30 years.

Source: 15-06-09 www.rediff.com Compiled by Amresh Anjan

Euro Zone Employment Rate Dips

With deepening recession, the employment rate in the 16-nation euro area dropped by 0.8 per cent in the first quarter of 2009. According to Eurostat, the statistical agency for the European Communities, the number of people employed in the euro zone -- the grouping of 16 nations that share the common currency euro -- fell 0.8 per cent (12,20,000 persons) as compared to the previous quarter. The employment rate in the 27-nation European Union also decreased by 0.8 per cent during the same period. In April, the jobless rate in the euro area touched a 10-year high of 9.2 per cent.

Source: 15-06-09 www.rediff.com Compiled by Amresh Anjan

Accept Shares In Return For Pay Cut: British Airways To Pilots

In a ‘unique agreement’ to save jobs at the troubled airline British Airways, union leaders at the airline have urged pilots to accept shares in the company in return for a pay cut. Under the deal, pilots will see their annual pay cut by 2.61% — worth around £2,000. However, about 78 of 3,200 pilots will have to lose their jobs.

Source: 18-06-09 www.livemint.com Compiled by Amresh Anjan

MySpace To Prune Staff By 30%

The social networking site MySpace will slash almost a third of its staff in an effort to cut costs. The cuts will translate into about 400 job cuts. The site is looking to return to its start-up culture.

Source: 16-06-09 news.bbc.co.uk Compiled by Amresh Anjan

Patni Appoints New Executive Vice-President

Mr Manish Soman has been appointed by Patni Computer Systems as Executive Vice-President and Chief of Operations in its executive leadership team. In this role, he will be responsible for the company’s key operations, including sales, technology, business continuity and resource planning.

Source: 18-06-09 www.thehindu.com Compiled by Amresh Anjan

New Managing Director For TVS Capital

TVS Capital Funds Limited has appointed Mr D. Sundaram as Vice-Chairman and Managing Director wef July 10. He will be based at the newly-started Mumbai office. Mr Sundaram possesses over 34 years of association with Hindustan Unilever (HUL) spanning various functions including corporate finance, business performance, operations, governance, mergers & acquisitions, talent/people management and strategy.

Source: 16-06-09 www.thehindu.com Compiled by Amresh Anjan

Mr Ramki Sundaram Quits Kingfisher Airlines

Mr Ramki Sundaram, executive vice-president at Kingfisher Airlines Ltd and former chief executive officer of Deccan Aviation Ltd, has put in his papers. He will join London-based Investec Bank (UK) Ltd in July as global head for mergers and acquisitions and an adviser to its aviation business.

Source: 18-06-09 www.livemint.com Compiled by Amresh Anjan

Mr Chakrabarty Quits PNB For New Role At RBI

Punjab National Bank CMD Mr K C Chakrabarty has demitted office after his appointment as RBI Deputy Governor. At RBI, he would succeed Mr V Leeladhar who had retired in December.

Source: 15-06-09 www.livemint.com Compiled by Amresh Anjan

Mr Rishi Khiani Steps Down As COO At Web18

Thirty four-year-old Mr Rishi Khiani has stepped down as chief operating officer at Web18. He will be replaced by Mr Joyson Thomas as COO. Mr Khiani had sold his Urban Eye Media to Network18 Media and Investments Ltd in 2006. Post-acquisition, he was hired for a three-year contract for integrating Urban Eye into Web18.

Source: 16-06-09 in.reuters.com Compiled by Amresh Anjan

Times Internet Ltd COO Is Stepping Down

Mr Sunil Rajshekhar, chief operating officer at Times Internet Ltd, is quitting the company, according to close sources. His date of departure is not fixed yet and according to reports, he will be around for a few months till a new CEO takes charge. TIL saw some high-profile exits in the recent past. Mr Dinesh Wadhawan stepped down as CEO in March while CFO Mr Deepak Sogani left in January.

Source: 18-06-09 www.contentsutra.com Compiled by Amresh Anjan

Ingersoll Rand Hires Mr Venkatesh Valluri To Lead Its India Operations

Ingersoll Rand, the industrial technology company, has appointed Mr Venkatesh Valluri as president of its India operations. He will also join the Ingersoll Rand India board.

Source: 15-06-09 Business India Compiled by Amresh Anjan

Zuji Appoints Mr Roshan Mendis As President

Online travel agency Zuji has appointed Mr Roshan Mendis as president at Zuji and regional vice-president at Travelocity, Asia Pacific, its parent company. In his new role, he will be responsible for leading the business focus, development and future growth strategies for all Travelocity brands in Asia Pacific including Travelocity, Zuji and Nextour.

Source: 15-06-09 Business India Compiled by Amresh Anjan

Tata Motors Elevates Mr Ravi Pisharody To Sr V-P

Tata Motors has promoted Mr Ravi Pisharody to the post of senior vice-president, commercial vehicles business. He would fill in the post left vacant by Mr Prakash Telang who became the non-executive chairman.

Source: 15-06-09 Business India Compiled by Amresh Anjan

HR Headlines: Jun-09 (Part-3)

Govt Jobs Gain Popularity With Job Seekers

In the wake of the economic downturn, public sector jobs have again become a favorite among job aspirants as these opportunities offer more job security and better growth prospects than private sector jobs. The implementation of the Sixth Pay Commission (making the pay packets of government employees almost equal to their private sector counterparts) has increased the attraction for public sector jobs. Rising number of layoffs and reduction in salaries and increment in the private sector have also added to the attractiveness of the government jobs.

Source: 10-06-09 www.rediff.com Compiled by Amresh Anjan

India’s Hiring Prospects Brightest Globally: Manpower

According to the latest global Manpower Employment Outlook Survey, India has the highest hiring expectations globally since the third quarter of 2008. While jobseekers around the globe are likely to face sluggish hiring pace seen during the first half of the year, in India, a greater percentage of employers are saying they will hold on to the staff they have. Employers in 11 of the 34 countries surveyed expect some positive hiring activity in the coming quarter, but those in other 22 countries are forecasting a negative outlook. The third-quarter hiring plans are brightest in India, Norway, Poland, Peru, Singapore and Taiwan and weakest in Ireland, Spain, Greece, Romania, Italy, Japan and the UK. In India, around 19 per cent employers have positive recruitment plans for the next three months.

Source: 10-06-09 www.business-standard.com Compiled by Amresh Anjan

Less Than 1 Per Cent Layoffs In IT So Far: Nasscom

The Indian IT industry is still not in the grip of large-scale layoffs, as suggested by National Association of Software and Service Companies (Nasscom). According to Nasscom estimates, layoffs in the information technology and business process outsourcing industry are still less than 1 per cent of the total workforce. Top Nasscom executives have noted that a key fallout of the ongoing economic slowdown is that companies are less tolerant of non-performance from their employees than they were earlier.

Source: 10-06-09 Business Standard Compiled by Amresh Anjan

7000 Satyam Employees To Go On Virtual Bench

Woes of Satyam employees are far from over even after a takeover by Tech Mahindra. Satyam is setting up a virtual bench for employees who are out of work at the company. The number of non-revenue earning employees on the virtual bench is anywhere between 7,000 and 10,000. Of these, around 7,000-8,000 may come from the technical side and the rest would be from the support staff. Meanwhile, as per reports, more than 2,000 employees of Satyam Computer quit the company in Jan-Feb this year, bringing the total head count down to 41,622 as of March.

Source: 11-06-09 profit.ndtv.com Compiled by Amresh Anjan

TCS Enhances Pay Of Top Brass By Rs 1 Crore

India’s IT giant, Tata Consultancy Services, has enhanced total pay packages of its top management personnel and board members by over Rs 1 crore (Rs 10 million). This will translate into a better hike to its incoming chief executive officer than his predecessor. The company paid a total remuneration of Rs 12.80 crore (Rs 128 million) to its key management personnel and board members during 2008-09, up from Rs 11.08 crore (Rs 110.8 million) in the previous fiscal. As per TCS’ annual report, CEO Mr S Ramadorai was the highest paid executive with a total remuneration of Rs 4.1 crore (Rs 41 million) in the year.

Source: 10-06-09 www.ptinews.com Compiled by Amresh Anjan

UNCTAD Warns Loss Of 7.5 Lakh Export Jobs In 2009-10

According to a study by United Nations Conference on Trade and Development (UNCTAD), India’s exports sector may witness the loss of over 7.5 lakh jobs amidst shrinking world demand and drying orders. The study—Impact of Global Slowdown on India’s Exports and Employment—projected that maximum job losses are expected to occur in gems and jewellery sector followed by ores and minerals, textiles and textile products. The study predicts job losses in most of the sectors in 2009-10, except for agriculture and plantation for which positive growth has been projected.

Source: 12-06-09 www.hindustantimes.com Compiled by Amresh Anjan

Wipro BPO To Create 1,500 Jobs At Two Centres Overseas

Wipro BPO, the business process outsourcing arm of Wipro Ltd, is looking at opening two more centres in China and the Philippines by the end of this year. While the company plans to open a 500-seat centre in Chengdu (China), it intends to have a 1,000-seat centre in Manila (the Philippines).

Source: 08-06-09 Business Standard Compiled by Amresh Anjan

SBI To Add 13,000 People During Current Fiscal

State Bank of India (SBI) is looking to recruit 13,000 staff at various levels during the current fiscal. Last fiscal, the bank absorbed 33,703 new employees. The new recruits will be deployed across various businesses. Currently, recruiting is being done at the level of officers, marketing and recovery (rural), and technical officers (farm sector). According to an estimate, public sector banks will hire 30,000 personnel during 2009-10.

Source: 09-06-09 Financial Express Compiled by Amresh Anjan

Suzlon To Slash More Than 50% Workforce At US Plant

In the wake of economic slowdown, Suzlon Energy Ltd has plans to eliminate 160 jobs, comprising more than half of its workforce at its US plant in Pipestone, Minnesota. The staff would be asked to leave in batches between now and August. Currently, the plant employs 300 people.

Source: 11-06-09 www.sify.com Compiled by Amresh Anjan

RIL Employees Allotted 21,173 Shares Under ESOS

Reliance Industries Ltd has allotted 21,173 equity shares to its employees under the Employees Stock Option Scheme. The shares have been allotted at Rs 10 each to its employees. Earlier in May, RIL had allotted 2,055 equity shares of Rs 10 a piece to its employees pursuant to the ESOS.

Source: 10-06-09 www.rediff.com Compiled by Amresh Anjan

President Obama Pledges To Save 600,000 Jobs

Giving a ray of hope to the US job market, President Barack Obama has pledged to create or save 600,000 jobs over the next 100 days with accelerated stimulus spending. He has vowed to take action to slow the growth of unemployment that has reached a 25-year high in the US.

Source: 09-06-09 www.sify.com Compiled by Amresh Anjan

Lowest Job Cuts In US Since September

US employers last month cut the fewest jobs since September. US nonfarm payrolls fell by 345,000 in May. The fall in US jobs was far less than the expected 520,000 drop and the revised 504,000 reduction in April. International policy-makers believe that the worst of the downturn may be over as the US labor market begins to stabilize.

Source: 06-06-09 www.livemint.com Compiled by Amresh Anjan

43,000 Jobs May Be Lost At German Retail Giant

About 43,000 jobs are at risk as German retail and tourism giant Arcandor filed for bankruptcy. The government has already dismissed the company's request for emergency state aid. The group employs 70,000 people in Europe, two-thirds of whom work in Germany. Employee salaries for the months of June, July and August are secure, according to a company statement.

Source: 09-06-09 Financial Express Compiled by Amresh Anjan

Irish Unemployment Rate At 11.8 Pct

Deepening recession took Ireland's unemployment rate to a 13-year high of 11.8 percent in May. According to the Central Statistics Office report, the number of people claiming jobless benefits nearly doubled over the past year to 397,000. Ireland now has the second-worst unemployment rate in the 16-nation euro zone after Spain. Average unemployment in the euro zone has risen to 9.2 percent.

Source: 08-06-09 www.sify.com Compiled by Amresh Anjan

Yahoo! Appoints Mr Tim Morse As CFO

Yahoo! has appointed Mr Tim Morse as its chief financial officer with effect from July 1. Currently, Mr Morse serves as the CFO of the semi-conductor company Altera Corp. Prior to Altera, Mr Morse was at GE for 15 years. Yahoo!'s current CFO Mr Blake Jorgensen announced his plans to quit the firm after Ms Carol Bartz took over as the CEO of the internet entity.

Source: 12-06-09 money.cnn.com Compiled by Amresh Anjan

GM Gets Former AT&T CEO As Chairman

General Motors Corp has named former AT&T Inc CEO Mr Ed Whitacre as chairman of the reorganized automaker when it emerges from bankruptcy under U.S. government oversight. Mr Whitacre, who is an engineer by training, guided Texas-based Southwestern Bell through a decade of transformative mergers. Former GM Chairman and Chief Executive Mr Rick Wagoner was ousted by the Obama administration at the end of March.

Source: 09-06-09 news.yahoo.com Compiled by Amresh Anjan

Versace CEO To Quit

CEO at the Versace fashion house, Mr Giancarlo Di Risio is leaving after five years on the job. The move was widely expected as the company takes steps to survive the economic downturn. Mr Di Risio will stay on temporarily to guarantee a smooth transition.

Source: 08-06-09 www.sify.com Compiled by Amresh Anjan

Mr Robert McDonald Set To Become P&G CEO

Procter & Gamble Co is set to name Mr Robert McDonald as its next chief executive officer, replacing Mr A.G. Lafley. The appointment is not a surprise as industry insiders expected Mr McDonald, a 29-year P&G veteran, to take up the top job when Mr Lafley was ready to step down. Mr Lafley, CEO for nine years, would remain chairman.

Source: 09-06-09 news.yahoo.com Compiled by Amresh Anjan

Mr Tushar Pradhan Is New CIO, HSBC Asset Management (India)

HSBC Asset Management (India) has appointed Mr Tushar Pradhan as CIO of HSBC Mutual Fund. As CIO, Mr Pradhan will be responsible for all investment activities and investment strategy of the company. He possesses over 17 years of experience in fund management. Prior to this assignment, he has worked with HDFC Asset Management and more recently with AIG Global Asset Management.

Source: 11-06-09 www.dnaindia.com Compiled by Amresh Anjan

Ms Preeti Binoy Joins Yash Birla Group

Yash Birla Group has appointed Ms Preeti Binoy as the general manager, corporate communications where she will be reporting to Mr Yash Birla, Chairman, Yash Birla Group. Prior to this, Ms Binoy was manager- corporate communications with Nimbus Communications.

Source: 06-06-09 www.exchange4media.com Compiled by Amresh Anjan