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| Hiring Activity Of Indian Companies Picks Up 4.1% In Sep |
| A report by job portal, naukri.com revealed that hiring activity has picked up 4.1% in September with IT, BPO and real estate sectors turning bullish after a long time. The portal's monthly 'JobSpeak index' increased to 729 in September from 701 in August this year. However, sectors like Banking & Finance and Oil & Gas saw a drop in hiring activity by 6.5% and 4.6%, respectively in September as compared to August. Out of the top 13 cities covered in the survey, Mumbai, Chennai and Delhi/NCR saw an increase in hiring at 9%, 8.4% and 3.5%, respectively. Smaller cities like Ahmedabad and Vadodara witnessed double digit growth at 11.8% and 12.5%, respectively. Meanwhile, in Hyderabad, Bangalore and Pune, hiring activity declined by 5.4%, 3.4% and 2.4%, respectively in September as compared to August. Read the report in detail |
| Source: 20-10-09 naukri.com Compiled by Amresh Anjan |
| India, China Likely To Lead 2010 Salary Hikes |
| India and China may lead salary hikes in Asia next year, Hewitt Associates said. The salaries in India are likely to grow by an average 9.2% in 2010, compared with a 6.3% gain this year, the Lincolnshire, Illinois-based company said. On the other hand, wages in China may increase 6.7% next year from 4.5% in 2009, it said after a survey of 2,346 firms across 21 Asian nations. The company said that six percent of firms in India may freeze wages next year against 26.1% in 2009. In China, about 8.3% firms could freeze salaries in 2010, it said. It surveyed 283 firms in India and 404 in China. |
| Source: 21-10-09 livemint.com Compiled by Amresh Anjan |
| FMS Completes 100% Placement For Its First Year Students |
| Faculty of Management Studies (FMS) has announced that it has completed 100% placement for its first-year students (batch of 2011). This year, around 84 companies, including Proctor & Gamble, Hindustan Unilever Limited, Citibank, Standard Chartered, PepsiCo, Microsoft, Unicon Securities and PVR visited the campus. The companies that were away from the recruitment process, last year, were also back. In addition to this, new sectors like pharmaceuticals, media & advertising also made their presence felt, FMS officials said. |
| Source: 19-10-09 Hindustan Times Compiled by Amresh Anjan |
| Toyota To Employ 2,000 Workers In India |
| Toyota Motor Corporation announced that it will hire 2,000 more people in India as the auto maker plans to launch a small car in the country by 2011. The company, which runs its Indian operation through a joint venture, Toyota Kirloskar Motor (TKM), with the Kirloskar Group, is coming up with the second plant at its Bangalore facility with an investment of Rs 3,200 crore to manufacture the small car. |
| Source: 22-10-09 livemint.com Compiled by Amresh Anjan |
| US Government Slashes The Compensation Of Top Executives By 50% |
| The US government's pay czar has cut the salaries of top executives by 50 per cent at seven largest bailed-out firms including Citigroup and AIG. The extreme move comes in the wake of widespread criticism of executives who are being paid exorbitant salaries even as their companies survive on tax payers' money. The seven companies that have to comply with the directive are Citigroup, AIG, Bank of America, Chrysler, General Motors, GMAC and Chrysler Financial. |
| Source: 23-10-09 rediff.com Compiled by Amresh Anjan |
| Satyam Not To Pay Salaries To Employees In The Virtual Pool After December 18 |
| Satyam Computer Services, renamed as Mahindra Satyam, has announced that it will not pay compensation to employees in the virtual pool after December 18. The employees in this pool will have no option, other than to stay on the company's rolls without pay till March next year. The company, spoiled by the near Rs 8,000-crore fraud committed by its founder, Mr. Ramalinga Raju, had put 10,000 employees, which it calls associates, in the virtual pool in June because there was not enough work to keep them busy. |
| Source: 23-10-09 rediff.com Compiled by Amresh Anjan |
| New Head For Mahindra Satyam ANZ Operations |
| Mahindra Satyam has appointed Mr Bobby Gupta as head-sales and new business development in Australia and New Zealand. Prior to this assignment, he has diversified experience of business development and sales leadership in the Australian and Asia Pacific IT services market. |
| Source: 21-10-09 www.thehindu.com Compiled by Amresh Anjan |
| Jobless Rate Of Spain At 17.9% |
| The unemployment rate of Spain has stayed put at 17.9% in the third quarter. It is the highest jobless rate in the European Union. The number of people jobless in Spain now stands at 4.1 million. |
| Source: 23-10-09 news.bbc.co.uk Compiled by Amresh Anjan |
| Sun Microsystems To Slash 3,000 Jobs Worldwide |
| In the backdrop of delay in the acquisition of the company by Oracle, Sun Microsystems will be slashing 3,000 positions worldwide. The company plans to reduce the workforce across the North America, EMEA (Europe, the Middle East and Africa), APAC(Asia-Pacific) and Emerging Markets regions by up to 3,000 employees over the next 12 months, the company said. |
| Source: 21-10-09 rediff.com Compiled by Amresh Anjan |
| 7,000 Jobs Lost In Germany As Quelle Shuts Shop |
| Mail-order and catalogue firm Quelle in Germany is closing down after 82 years of operation leading to a loss of 7,000 jobs. All workers at Quelle in Germany will lose their jobs. However, activities in central and Eastern Europe will continue. |
| Source: 20-10-09 news.bbc.co.uk Compiled by Amresh Anjan |
| NYT To Axe 100 Newsroom Jobs |
| The New York Times is planning to cut 100 newsroom jobs by the end of this year. The newspaper said in a report that it would be offering buyouts to union and non-union employees and resort to layoffs if it cannot get enough people to leave voluntarily. |
| Source: 21-10-09 rediff.com Compiled by Amresh Anjan |
| Most US Firms Still Practising Cost Cutting Measures |
| Till now, many companies in the US are practising cost-cutting measures and more than 50% of the firms are in favor of reducing the bonus component of their employees, says a survey. The global consultancy firm Grant Thornton LLP said that most of the US companies are planning to lessen the average cost per employee by reducing various components of their employee's benefit and compensation package. |
| Source: 20-10-09 rediff.com Compiled by Amresh Anjan |
| Another Round Of Cost Cutting Measures At Air India |
| National Aviation Company Ltd (Nacil), which runs Air India, is taking measures to reduce its Productivity-Linked Incentive (PLI) payments in the remaining period of this fiscal by 70 per cent. It aims to take down the bill from Rs 650 crore to Rs 191 crore. The airline has 30,505 employees and the current wage bill stands at over Rs 3,100 crore. The airline, reeling under losses, has also introduced a leave without pay scheme and has already approved many applications. Other than these, the airline attempts to save Rs 111 crore per annum from rationalisation of menu, bar and cabin services of the airplanes and Rs 68 crore annually by renegotiating agreements with cabin crew. |
| Source: 23-10-09 www.business-standard.com Compiled by Amresh Anjan |
| AI unions, Managers Have Decided To Talk For Cost Cuts |
| Hostile managers and employees at state-owned Air India have agreed to sit across the table to decide on salary cuts that could help the bleeding carrier heal itself. Their purpose is to save Rs 3,000 crore a year and boost revenue by Rs 2,000 crore per year. |
| Source: 17-10-09 Hindustan Times Compiled by Amresh Anjan |
| Racial Discrimination Rampant In UK Workplaces |
| A sting operation by the government uncovered prevalent racial discrimination against workers with African and Asian names. In an attempt to discover if employers were discriminating against jobseekers with foreign names, researchers sent nearly 3,000 job applications under false identities. Every false applicant had British education and work background. They found out that an applicant who appeared to be white would send only nine applications before receiving a positive response of either an invitation to an interview or an encouraging telephone call. At the same time, minority candidates with the same qualifications and experience had to send 16 applications before receiving a similar response. These alarming results have prompted, Mr. Jim Knight, the employment minister, to consider barring companies that are encouraging all this. |
| Source: 19-10-09 Hindustan Times Compiled by Amresh Anjan |
| Mr. John Mullins Appointed As An Independent Director At Myntra.com |
| Myntra.com has appointed, Mr. John Mullins as an independent director to its board of directors. Mr. Mullins is currently serving as associate professor of management practice at London Business School and is also a visiting professor at Indian School of Business. Mr. Mukesh Bansal, CEO, Myntra, has said, "Myntra has steadily worked towards creating a personalization culture in India. The faith reposed by visionaries like John in Myntra strengthens our belief in the concept and its potential. This is a great addition to our Board and will bring a new level of strategic thinking, global benchmarking and international exposure." |
| Source: 20-10-09 alootechie.com Compiled by Amresh Anjan |
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