| Mr Anil Ambani Foregoes Rs 50cr In Salary |
| As an austerity measure, chairman of the Anil Dhirubhai Ambani Group (ADAG), Mr Anil Ambani has given up Rs 50cr in salaries and commissions from his group firms in 2008-09. However, he would still end up getting over Rs 50cr as sitting fees and the previous year’s commission. |
| Source: 28-09-09 www.telegraphindia.com Compiled by Amresh Anjan |
| Capgemini To Step Up Hiring In India |
| French IT giant Capgemini is hiring in a big way in India. In the first six months of this year, Capgemini recruited 5,586 people. According to a company source, the hiring would be around 100-150 per month for the next two quarters. Capgemini will increase its headcount in the country by 10 to 15 per cent in 2010. Currently, it has 21,000 employees in the country to provide outsourcing services to global customers, making India its largest location in terms of headcount and accounting for a fifth of its global workforce of about 90,000. |
| Source: 26-09-09 www.telegraphindia.com Compiled by Amresh Anjan |
| Gujarat Ranked 6th In Generating PSU Jobs |
| According to National Survey on SLPEs State Level Public Enterprises (SLPEs), Gujarat is ranked sixth in terms of generating employment in public sector units. Noticeably, Gujarat has made the highest investment among states in public enterprises. Andhra Pradesh topped the list of 10 states for generating jobs in the SLPEs although it was the fourth-largest investor. Andhra Pradesh generated jobs for 2,65,081 people as on March 31, 2007, in its SLPEs, while its investment in these units was Rs 32,993 crore (Rs 32.993 billion). Tamil Nadu, which ranked ninth in terms of investments in SLPEs, was the second-best employer in terms of jobs in the SLPEs. |
| Source: 28-09-09 www.rediff.com Compiled by Amresh Anjan |
| New Pay Structure Accepted By IIM-A |
| The Indian Institute of Management, Ahmedabad (IIM-A), has in principle accepted the new pay structure for faculty suggested by the Union government. However, its implementation has been kept in abeyance for a month as the faculty still had some concerns regarding promotion and recruitment policies. In its recent recommendations, the government had put a 40% cap on the number of professors at an institute who can get the additional grade pay. |
| Source: 29-09-09 www.livemint.com Compiled by Amresh Anjan |
| 60,000 Jobs To Be Created At Bharti Retail By 2015 |
| The retail industry is back to its hiring ways. Bharti Retail will increase its head count to 60,000 by 2015 from 2,000 now as it has set a target to become a $1-billion company by then. Bharti Retail has around 30 stores, mainly in Punjab and Haryana and will open 40 more in the National Capital Region by end December. Currently, about 25 per cent people working at Bharti's Easy Day stores are matriculate. |
| Source: 28-09-09 www.rediff.com Compiled by Amresh Anjan |
| ABN Amro's Wage Bill Rises Sharply In 2008-09 |
| ABN Amro witnessed a steep rise in its wage bill during 2008-09 which shot up to 25.61 per cent of its total expenses, the highest among the major foreign banks operating in the country. At Deutsche Bank, wage bill constituted 24.33 per cent followed by Standard Chartered Bank at 21.09 per cent, HSBC at 18.01 per cent and Citibank at 17.56 per cent. For the 30 foreign banks operating in the country through a network of about 300 branches, wages accounted for 19.45 per cent of total expenses. |
| Source: 28-09-09 www.rediff.com Compiled by Amresh Anjan |
| Wipro To Set Up Development Centre In Melbourne |
| Wipro Technologies will set up a 150-seat development centre in Melbourne in December to provide integrated business, technology and process solutions to local clients. The Melbourne centre is expected to create 100 jobs in Victoria over the next 12 months. Currently, Wipro has more than 800 employees working for Australian clients. |
| Source: 01-10-09 www.sify.com Compiled by Amresh Anjan |
| Residential Complex For Employees On RCF Surplus Land |
| The public sector fertilizer manufacturer, Rashtriya Chemicals and Fertilizers Ltd (RCF), may develop official residences for employees of public sector companies on the surplus land at its Mumbai manufacturing complex. The residential complex will be spread over 50 to 100 acres of the unutilized area of the total 600 acres of land that the company owns. Under the new project, high rise buildings will be constructed that will cater to relocation of employees from the old housing complex. Additionally, separate residential complexes will be built jointly with other public sector undertakings (PSUs) companies like Oil and Natural Gas Corporation, Oil majors such as Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd, Gas Authority of India Ltd among others. |
| Source: 27-09-09 www.livemint.com Compiled by Amresh Anjan |
| Corus Workers Irked By Tata Jamshedpur Bonus |
| Corus workers in the UK are upset as Tata Steel has doled out a bonus to employees in India, while giving those in the UK a miss. Community Union, which represents the majority of workers in Corus, is preparing to confront the management on several pay-related issues. Tata Steel pays an annual bonus in India, while Corus pays a quarterly bonus. The July bonus has not been paid yet to UK employees. Tata Steel had recently announced bonuses for Jamshedpur employees at the rate of 18.5 per cent of the salary/wages (basic + DA) for the year 2008-2009 along with an ex-gratia payment of 8.33 per cent on arrears. |
| Source: 29-09-09 www.telegraphindia.com Compiled by Amresh Anjan |
| China Job Market Looking Optimistic With Improving Economy |
| The improved economic scenario in China, boosted by the government’s 4-trillion yuan investment-led stimulus plan, is creating jobs in the market. According to the labour ministry, the jobs being created are already making up for much of the losses suffered by the economy. |
| Source: 29-09-09 Hindustan Times Business Compiled by Amresh Anjan |
| BoA-Merrill Appoints AIG AMC’s Mr Saurabh Sonthalia |
| Bank of America Merrill Lynch has hired Mr Saurabh Sonthalia to head its capital markets business in India. This will be second innings for Mr Sonthalia at Bank of America Merrill Lynch as he had earlier quit the firm in 2006. Currently, he is chief executive officer at AIG Global Asset Management Co. (India) Pvt. Ltd in Mumbai. |
| Source: 29-09-09 www.livemint.com Compiled by Amresh Anjan |
| Tata Steel Restructures Top Management |
| Tata Steel has restructured its top management by creating a post of managing director for Corus’s operations in Europe. Mr B. Muthuraman, managing director of unified Tata Steel Group, has stepped down from his post. His responsibilities have been split between Mr Kirby Adams, CEO of Corus, and Mr Hemant Nerurkar, CEO and executive director of Tata Steel India and South East Asia. Both Mr Adams and Mr Nerurkar have been re-designated as managing director of Tata Steel Europe and Tata Steel (which also includes the operations of Singapore’s Natsteel and Tata Steel Thailand), respectively. |
| Source: 30-09-09 www.telegraphindia.com Compiled by Amresh Anjan |
| New Senior V-P At Aricent |
| Communications software firm Aricent has appointed Mr Patrick Joggerst as senior vice-president of its worldwide sales. |
| Source: 02-10-09 Financial Express Compiled by Amresh Anjan |
| Top Brass Rejig At DLF |
| Realty giant DLF has restructured its top management team to strengthen the top brass of the company. Mr Ashok Tyagi has been appointed as the group CFO. Mr Tyagi would also head the commercial functions of the development vertical. Besides, Mr A S Minocha, would now be the non-executive chairman of rental business and the chairman of DLF Pramerica along with being the director of DLF Metro JV, Chairman of DLF Golf Resorts and lead DLF Hotels. Mr Ramesh Sanka has been promoted as managing director of the office business and would also be responsible for support functions, including finance and IT. |
| Source: 01-10-09 www.business-standard.com Compiled by Amresh Anjan |
| Reshuffle At Mahindra Stayam |
| In a restructuring move, Mr Vikram Nair, who was earlier the head of Europe operations of Tech Mahindra, has been appointed the head of business operations at Mahindra Satyam. Also, Mr Aloke Palsikar will now head central European and Nordic operations of Mahindra Satyam. |
| Source: 02-10-09 Financial Express Compiled by Amresh Anjan |
| Hartford Names Mr Liam E. McGee As New CEO |
| Life insurer The Hartford Financial Services Group Inc. has named Mr Liam E. McGee, the former head of consumer banking at Bank of America, as its new chairman and CEO. McGee left Bank of America Corp. in August after a nearly 20-year career. |
| Source: 30-09-09 www.sify.com Compiled by Amresh Anjan |
| Senior VP Hired By AOL For Advertising |
| AOL LLC has hired Mr Shashi Seth for the position of senior vice president of global advertising. Mr Seth will report to Mr Jeff Levick, the company's president of global advertising and strategy. Prior to this, Mr Seth was with Cooliris, where he served as chief revenue officer. He has also headed Google Inc.'s efforts to make money with YouTube. |
| Source: 29-09-09 www.sify.com Compiled by Amresh Anjan |
| Obopay Hires New Executive VP For Global Engineering |
| Obopay (U.S.), a mobile money transfer service provider, has appointed Mr Dilip Nagaraja as its executive vice president for global engineering. In this role, Mr. Nagaraja will be responsible for the global engineering organisation across all Obopay offices. |
| Source: 30-09-09 www.thehindu.com Compiled by Amresh Anjan |
| Deputy CEO Appointed By BSE |
| The Bombay Stock Exchange has appointed Mr Ashish Chauhan as the deputy chief executive officer of the organization. Prior to this, Mr Chauhan was serving as chief information officer at Reliance Industries. He was also a part of the team involved with the setting up of the National Stock Exchange. |
| Source: 29-09-09 www.dnaindia.com Compiled by Amresh Anjan |
| Mr B Prasad Rao Is New BHEL CMD |
| Mr B Prasad Rao has taken over as the chairman and managing director of Bharat Heavy Electricals Ltd (BHEL). Mr Rao possesses over 30 years of experience at BHEL in multiple operational and technical areas. |
| Source: 02-10-09 Business Standard Compiled by Amresh Anjan |
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