| 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 |
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