| Naukri.com Launches Its Salary Benchmarking Tool- PayCheck |
| Naukri.com has launched a unique salary tool – Naukri Paycheck, which offers broad-based and real-time salary information across sectors, cities and experience levels based on a database of over 10 million profiles. Naukri PayCheck allows users to benchmark salary, for any specified criteria i.e. functional area, experience, city. The tool also showcases top companies and industries offering the maximum salary for any profile. Recruiters can use Naukri Paycheck to benchmark and compare salaries in any industry across functions and experience levels. With the tool, recruiters can estimate a candidate’s worth as per industry standards and also make attractive retention offers. |
| Source: 07-08-09 www.naukri.com Compiled by Amresh Anjan |
| Pay Bonanza For IIT, IIM Teachers |
| Paychecks for faculty members of the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) and other centrally funded technical institutes got fatter as the Union Cabinet approved the revision of pay scales. States will also get financial assistance for implementing the revised scales in state-run technical institutions. |
| Source: 07-08-09 Hindustan Times Compiled by Amresh Anjan |
| MindTree To Cut Salaries By 15 % At Its R&D Division |
| MindTree Limited, a Bangalore-based software and R&D services firm, is slashing salaries of some employees in its research and development division by 15 per cent. The division employs 1,200 people in a total of close to 8,000 employees. Utilisation in R&D services business has fallen to 57 per cent leading to a drop in the overall business profitability of MindTree. People in billable roles in R&D Services, who are neither on an approved MindTree Incubated Technology project nor on a customer project, for the whole of the previous calendar month, will be affected by the salary cuts. |
| Source: 05-08-09 www.business-standard.com Compiled by Amresh Anjan |
| PSU Bank Employees Strike Work To Demand Wage Hike |
| Employees of public sector banks observed a two-day strike affecting bulk cash and current account transactions. Staff of 25 nationalised banks went on strike demanding revision of wages and a second option for pension among other things. |
| Source: 07-08-09 www.ptinews.com Compiled by Amresh Anjan |
| 1.71 lakh Job Losses In First Quarter |
| According to a study by the Labour Bureau, unemployment estimates for the first quarter of the financial year show a total of 1.71 lakh job losses. Also, withdrawal requests from the Employees’ Provident Fund Organisation (EPFO) between April and June touched a record 31.51 lakh. Among industries, the worst hit was the textiles industry, shedding 1.54 lakh jobs, followed by IT/BPO (34,000). The gems & jewellery sector reported 20,000 job losses. Overall employment across the eight sectors surveyed, including metals, leather, automobiles, transport and handloom/powerloom, dropped by 1.31 lakh. |
| Source: 07-08-09 www.financialexpress.com Compiled by Amresh Anjan |
| Corporation Bank To Hire 1,400 This Fiscal |
| Corporation Bank has announced plans to recruit 1,400 staff, including officers, during the current fiscal. The bank is in an expansion mode and plans to add about 100 branches, taking the total number of branches to over 1,150 by the end of March 2010. |
| Source: 05-08-09 Business Standard Compiled by Amresh Anjan |
| Bill For More Benefits To Employees Covered Under ESI |
| Labour and Employment Ministry has tabled the Employees' State Insurance (Amendment) Bill, 2009 in the Lok Sabha that will enable necessary changes in the Employees State Insurance Act, 1948. Once the bill is passed, it will provide more benefits to employees covered under ESI scheme and their dependents in case of sickness, maternity and employment injury. The Bill proposes to enhance the age limit from existing 18 years to 21 years for the purpose of giving benefits to dependents. |
| Source: 07-08-09 www.ptinews.com Compiled by Amresh Anjan |
| SBI To Recruit 11,000 Clerks |
| State Bank of India (SBI) is looking to hire 11,000 clerks for marketing its financial products across the country. The new staff would be deployed for marketing, banking and advisory services. 1,100 clerks would be hired in Mumbai circle and 1,000 in the Delhi circle. Patna, Lucknow, Kolkata, Chennai, Hyderabad and Chandigarh would get 900 staff each. SBI plans to recruit 13,000 people at various levels during the current fiscal. |
| Source: 04-08-09 www.rediff.com Compiled by Amresh Anjan |
| Hyundai India To Ramp Up Headcount |
| Hyundai Motor India will hire around 1,000 people this month in response to increased demand in the overseas markets. The company has already increased its workforce by over 1,000 employees at its two plants in Chennai. The company is currently producing about 2,000 units per day and plans to increase capacity by 400 units once the hiring is over. |
| Source: 03-08-09 www.deccanherald.com Compiled by Amresh Anjan |
| Microsoft To Take On Board 400 Yahoo! Employees |
| As part of a planned partnership in internet search and advertising space, software giant Microsoft will hire 400 employees of internet major Yahoo!. These employees will be offered market competitive compensation packages. Microsoft would also use another 150 employees of Yahoo! to assist with providing the transition services. |
| Source: 05-08-09 www.financialexpress.com Compiled by Amresh Anjan |
| 97,000 Jobs Axed In US In July |
| Job cuts by US employers increased by 31 per cent in July to over 97,000, the first such increase in six months. In a latest report by global outplacement consultancy Challenger, Gray & Christmas Inc, job cuts announced by US employers jumped to 97,373 in July after falling by 33 per cent in June to 74,393, the lowest monthly total since March 2008. The maximum number of job cuts in July was in the transportation industry. The telecommunications sector also experienced an increase in layoffs last month with job cuts surging to 17,601 in July from 802 in June. |
| Source: 06-08-09 www.rediff.com Compiled by Amresh Anjan |
| GM Trims Hourly Workforce By 6,000 |
| In a bid to cut costs and streamline operations, General Motors has slashed some 6,000 hourly jobs. Around 65% of those who left took early retirement while some 30% accepted buyouts from the firm. With the latest round of departures, now there are 48,000 US factory workers with GM. The company aims to bring it down to 40,500 by the end of this year. |
| Source: 03-08-09 news.bbc.co.uk Compiled by Amresh Anjan |
| In UK, Minimum Wages For Apprentices Raised |
| In UK, the minimum pay rate for apprentices has increased from £80 to £95 a week, following a dip in the number of young people joining the schemes. Apprentices under the age of 19 and older workers in the first year of an apprenticeship are exempt from the national minimum wage. Female apprentices in hairdressing and childcare were among the lowest paid. However, the average weekly pay for apprentices stood at more than £170 a week. |
| Source: 04-08-09 news.bbc.co.uk Compiled by Amresh Anjan |
| Ex-Amex CEO Appointed As AIG Chairman |
| American International Group Inc (AIG), the insurer that has received about $180 billion of federal bailouts, has named former American Express Co chief executive Mr Harvey Golub as its non-executive chairman. Mr Golub replaces Mr Edward Liddy, who is also stepping down as chief executive of the New York-based insurer. AIG has named Mr Robert Benmosche, a former chief of MetLife Inc, to replace Mr Liddy as chief executive. |
| Source: 06-08-09 news.yahoo.com Compiled by Amresh Anjan |
| Mr Ravimohan Quits S&P; Ms Roopa Kudva Is The New Region Head |
| Ms Roopa Kudva has been named region head for South Asia by financial market intelligence provider Standard & Poor's. She would handle this role in addition to her current responsibilities as managing director and chief executive officer of Crisil. She was handed this additional responsibility following the resignation of Mr R Ravimohan as Standard & Poor's representative for South and Southeast Asia and as non-executive chairman of the board of directors of Crisil. |
| Source: 06-08-09 www.dnaindia.com Compiled by Amresh Anjan |
| New VP, GM At Hitachi Data |
| Hitachi Data Systems has appointed Mr Vivekanand Venugopal as vice-president and general manager for its India operations. |
| Source: 06-08-09 Business Standard Compiled by Amresh Anjan |
| Mudra Mumbai Appoints New V-P |
| Mr Sudarshan Banerjee has been appointed as vice-president by Mudra Mumbai. In this role, Mr Banerjee will be responsible for new business development. Prior to this appointment, he was with Genesis Advertising as head of their Mumbai office. |
| Source: 01-08-09 www.exchange4media.com Compiled by Amresh Anjan |
| Bank of India Gets A New CMD |
| Mr Alok K. Misra has been appointed as chairman and managing director of Bank of India, succeeding Mr T. S. Narayanasami. Prior to this, Mr. Misra was CMD of Oriental Bank of Commerce. |
| Source: 06-08-09 www.thehindu.com Compiled by Amresh Anjan |
| Mr M. M. Agrawal Appointed Dy MD For Axis Bank |
| Axis Bank has appointed Mr M. M. Agrawal as deputy managing director. Till now, He was Executive Director (Corporate Banking) of the bank. |
| Source: 06-08-09 www.thehindu.com Compiled by Amresh Anjan |
| Mr Tripathi Is New GAIL Chairman |
| Mr B. C. Tripathi has taken over as the new chairman and managing director of GAIL (India) following the superannuation of Mr U. D. Choubey. Prior to this, he was Director (Marketing) of the company. |
| Source: 02-08-09 www.thehindu.com
Compiled by Amresh Anjan |
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