| 16% Indian Firms Freeze Salaries; 6% Cut Salary |
| Even when lay offs and salary cuts have become commonplace worldwide due to the global economic downturn, Indian companies have displayed a cautiously optimistic attitude with just 16 per cent firms freezing salaries and only 6 per cent reducing pay for 2009-10, as revealed in a mid-year survey on 'Performance & Reward Trends' by HR consultancy Hewitt Associates. Only five per cent firms were considering layoffs while about 30 per cent of the organisations have deferred their salary revision cycle from April to July or October. Salary freeze was mainly in organizations in the financial services, IT and ITeS sector. During the performance appraisal, nearly 69.2 per cent employees received a rating of 'met expectations' or 'below'. The survey was conducted across 137 firms (foreign-owned, locally-owned, and joint-venture private sector) and 9 primary industries during the period of May-June 2009. |
| Source: 16-07-09 www.rediff.com Compiled by Amresh Anjan |
| 15 Mn Jobs To Be Created By The End Of 11th Plan |
| Minister of state for labour and employment, Mr Harish Rawat has informed the Lok Sabha that 15 million jobs would be created in public and private sectors by the end of the Eleventh Plan. He also said that nearly two lakh engineers and 1.32 lakh diploma holders were unemployed in 2007. |
| Source: 13-07-09 www.dnaindia.com Compiled by Amresh Anjan |
| Recruitment Overdrive In Public Sector Banks |
| Even as most Indian companies have either stopped fresh hiring or are trimming their workforce amid the economic slowdown, the public sector banks in India are on a hiring spree. Nearly 100 employees are being added to public sector banks every day. The expected hiring in PSU banks in this financial year is set to cross its initial estimate of about 34,000. Many PSU banks are in an expansion mode and are hiring new staff to meet manpower needs. SBI alone will recruit 15,000 annually for two years. Canara Bank has almost completed the selection process for 1,000 officers and 800 clerks. Bank of India will recruit 550 clerical staff, 500 general banking officers and 237 specialist officers, besides 2,750 more staff. Union Bank of India will recruit close to 2,000 in the clerical and officers cadre. This is on top of the 2,200 employees it added in 2008-09. |
| Source: 15-07-09 Business Standard Compiled by Amresh Anjan |
| 500 Employees Sacked At Siemens IT Arm |
| Siemens Information Systems, the IT arm of Siemens India, part of German technology giant Siemens has reportedly laid off around 500 people over the last week. The company employs 5,500 employees across eight cities in India. Most of the affected employees were based in Bangalore. However, a company spokesperson said that the number of affected employees was a little over 100 and was limited to one particular business unit of Siemens Information Systems. |
| Source: 13-07-09 Business Standard Compiled by Amresh Anjan |
| Infosys To Ramp Up Headcount In Australia |
| Indian IT giant Infosys will hire 100 employees in Australia as it has been awarded an A $450-million contract recently. Recruitments will be held for a variety of positions primarily at senior and middle levels. The company has about 2,500 staff currently serving Australia and New Zealand clients with about 1,000 of them located in Australia. |
| Source: 13-07-09 www.livemint.com Compiled by Amresh Anjan |
| Dhanalakshmi Bank To Double Its Headcount |
| Kerala-based Dhanalakshmi Bank is in an expansion mode. It plans to add 66 branches to its existing 207 and add 200 ATMs, taking the total to 380. To bring about the expansion, the bank is looking to hire around 1,500 people this year, thus doubling its existing staff count that stands at 1,400. |
| Source: 16-07-09 www.dnaindia.com Compiled by Amresh Anjan |
| Satyam Taking Back Staff From The Virtual Pool |
| With the growth of business, Mahindra Stayam is slowly taking back staff put in the virtual pool after Satyam Computer Services was mired in fraud. Nearly 1,100 employees from 8,500 put in the pool have been asked to join back. As the business grows, more staff is expected to be asked to join back. Currently, those with required skill sets and technology background are being preferred. |
| Source: 13-07-09 Hindustan Times Business Compiled by Amresh Anjan |
| BT Group To Recall 2,000 Indian Jobs To Britain |
| British telecom operator BT Group Inc. is shifting at least 2,000 call-centre jobs based in India to Britain, according to media reports. BT is repatriating these jobs to achieve effective deployment of its resources. |
| Source: 16-07-09 www.livemint.com Compiled by Amresh Anjan |
| JLR To Axe 300 Jobs |
| British luxury carmaker Jaguar Land Rover has decided to slash 300 jobs from its Halewood plant in the north of England. However, the company, owned by Tata Motors, does not plan to close the Halewood plant - which employs 2,000 staff. Jaguar Land Rover witnessed its retail sales falling by 28% in the past 10 months. |
| Source: 15-07-09 www.livemint.com Compiled by Amresh Anjan |
| Two-Thirds Of Britons Affected By Job Cuts |
| According to a latest BBC survey, two-thirds of people across Britain know someone who has lost a job in the recession. The survey was conducted across 1,048 people. Around 67% of respondents said they knew someone personally who had been recently laid off. Four in 10 respondents feared losing their job in the current economic situation. |
| Source: 14-07-09 news.bbc.co.uk Compiled by Amresh Anjan |
| 2.6% Pay Cut For BA Pilots |
| The British Airline Pilots' Association has said that British Airways pilots have consensually agreed to accept a 2.6% pay cut. The cut will help the troubled airline save up to £26m a year in running costs. In return, the pilots will receive shares in the airline in three years' time. Reeling under immense financial losses, the airline had asked thousands of employees to take pay cuts or work for nothing. The deal also involves a reduction of 20% in certain allowances. |
| Source: 13-07-09 news.bbc.co.uk Compiled by Amresh Anjan |
| Harley-Davidson To Slash 1,000 Jobs |
| Motorbike maker Harley-Davidson will cut 1,000 jobs as demand for its bikes dried up. The company has already eliminated about 1,500 jobs as a result of the downturn. |
| Source: 16-07-09 www.telegraph.co.uk Compiled by Amresh Anjan |
| Amex Suspends Pension Contributions In US, UK |
| In an attempt to slash costs amid mounting credit losses, American Express Co has halted its contributions to employees' pension plans in the United States and the U.K. The company has said that it intends to resume the contributions when economic and business conditions improve. |
| Source: 15-07-09 www.reuters.com Compiled by Amresh Anjan |
| In Japan, Even Robots Are Being Laid Off |
| The global economic downturn seems to have affected even the most efficient workers – the robots. In Japan, amid falling demand for cars and gadgets, robots are being idled as the country suffers its deepest recession in more than a generation. Japanese industrial production has plummeted almost 40 per cent and with it, the demand for robots. |
| Source: 14-07-09 www.indianexpress.com Compiled by Amresh Anjan |
| Hiring On In UK Firms Despite Recession |
| According to a latest survey, more than half the companies in the UK are recruiting people despite the financial crisis. The hiring is being done for specific talent, such as strategic consultants, sales managers and new business people to help the organisations ride out the recession. While 52 per cent companies are still hiring, the majority of hires (80 per cent) are in the shape of permanent, full-time staff. The survey was conducted across more than 4,000 employees and 500 HR managers from companies of different sizes. |
| Source: 13-07-09 in.biz.yahoo.com Compiled by Amresh Anjan |
| AIG To Pay Millions In Bonuses |
| AIG is set to pay millions of dollars in bonuses to dozens of corporate executives. The company is revising its compensation plans to avoid the national ire set off by $165 million in retention bonuses paid to employees of a financial products unit in March. AIG has received more than $80 billion in federal loans in successive bailouts since its near-collapse last September. |
| Source: 15-07-09 www.forbes.com Compiled by Amresh Anjan |
| Goldman Sachs Appoints MDs For India Securities Unit |
| In a bid to expand business in India, US-based bank Goldman Sachs Group Inc has appointed Mr Vijay Karnani and Mr Rohit Narang as managing directors of its India securities unit. Both Mr Karnani and Mr Narang have been working with Goldman Sachs since the 1990s. |
| Source: 13-07-09 www.livemint.com Compiled by Amresh Anjan |
| Publicitas Digital Appoints Ms Namita Sahu As COO |
| Ms Namita Sahu has been named the new chief operating officer of Publicitas Digital. She had joined Publicitas in December 2007 as chief sales officer. |
| Source: 16-07-09 www.alootechie.com Compiled by Amresh Anjan |
| Percept’s Allied Media Appoints Mr Suresh Shah As Investment Director |
| Percept’s Allied Media has appointed Mr Suresh Shah as Investment Director. Prior to this, Mr Shah worked with Lintas Media Group as AVP. In his new role, he will be heading the complete buying, investment and credit functions for Allied Media. |
| Hiring Activity Up By 8.1% In June: Naukri JobSpeak |
| According to Naukri.com's monthly job index- JobSpeak- there has been an increase in hiring activity in June by 8.1 %. The job index rose to 718 in June from 664 in May this year. This is the highest monthly upward movement since July last year. Hiring in the banking and financial services industry witnessed an increase of 22 per cent in June last month as compared to May. Real estate and retail saw an increase in hiring by almost 25 per cent. Telecom saw a comeback with hiring activity picking up by 17 per cent in June over May. Hiring activity in IT-software also improved by 10 per cent. In city-wise analysis, 12 out of the 13 top cities recorded an increase in hiring activity in June. In Mumbai, the hiring activity picked up by 13 per cent while in Bangalore, Chennai and Pune, there was an increase of 10 per cent, 19 per cent and 15 per cent respectively.
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| Source: 16-07-09 www.naukri.com Compiled by Amresh Anjan |
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