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| UK Work Permit Rules Just Got Tougher |
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| United Kingdom (UK) has made a change in its visa rules. Under the new rules, Indian companies would have to pay a gross salary equal to a British worker to its employees sent on transfer to the UK. Besides this, skilled Indian workers on transfer cannot settle in the UK."So far, Indian companies made good margins when they transferred their employees to the UK. They paid salaries to them in rupees and only some allowances in pounds. But they billed their customers in pounds," Mr Sunil Goel, director, GlobalHunt India, an executive search firm, said. Mr Kris Lakshmikant, chairman and managing director, The Head Hunters India Private Limited, said the cost of intra-transfer per person may increase by 60%. "If a company sends an engineer with two years experience to the UK, it will have to pay him or her Rs 15-20 lakh per annum. Earlier, the cost was between Rs 10-Rs 12 lakh," Mr Lakshmikant explained. "Now, Indian companies would prefer to hire local people. But in certain categories like IT in which Britain does not have a large pool of local workers, companies will have to send people from India," he added. |
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| Source : 07-04-10 DNA Compiled by Amresh Anjan |
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| Government Employees To Get 100% Raise In Travel Grant |
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| The monthly travel allowance of government staff is going to increase by at least 100 per cent, from this month. The Finance department has decided to raise the travel allowance in line with the Sixth Pay Commission. This decision will put a burden of Rs 4,300 crore on the state exchequer in addition to the annual burden of Rs 8,091 crore for paying salaries according to the Commission. Government employees earning a basic salary of more than Rs 5,400 will get an allowance of Rs 3,200 in cities like Mumbai, Pune, Nashik, Aurangabad, Nagpur and Rs 1,600 in other areas. Staff with salaries up to Rs 5,500 will get an allowance of Rs 1,600 in A-1 cities and Rs 1,000 elsewhere. Other employees will get Rs 1,000 a month. |
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| Source : 06-04-10 Hindustan Times Compiled by Amresh Anjan |
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| City Civil Court In Bangalore Directs Britannia To Pay Pensioners Within 2 Months |
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| Pensioners of Britannia Industries, who have been combating a seven-year conflict with their former employers, have registered a crucial victory. The City Civil Court in Bangalore has upheld the demand of pensioners that trustees of Britannia have been wrong in not paying them pension as per the approved Pension Fund rules from 2003. Now, the court has directed Britannia to pay the pensioners within the next two months, said Mr Ashit K Sarkar, retired senior vice-president-HR and representative of Britannia's Pensioners Welfare Association (PWA). |
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| Source : 09-04-10 Business Standard Compiled by Amresh Anjan |
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| Aviation Ministry Contemplates 20% Salary Cut For Air India Staff |
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| The civil aviation ministry is planning to propose a 20%, across-the-board salary cut for Air India (AI) employees. The ministry is in the process of preparing a cabinet note on AI, which is going to include cost-saving measures and a roadmap. The wage cut offer may figure in this communication. The note is likely to be submitted by mid-April. The figure is being discussed after plans to lessen salaries of AI employees failed, including a proposal to cut performance-linked-incentives (PLIs) by 50% in September 2009. |
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| Source : 05-04-10 DNA Compiled by Amresh Anjan |
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| Fight Over Scarce Jobs In US |
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| According to a recent study, young adults in the United States are being squeezed out of the labour force as older workers either delay retirement or seek jobs to rebuild nest eggs destroyed by the recession. The size of the labour fell 6.3% for young workers, but increased 8.5% for workers 55 years and older between December 2007 and January 2010, as per the study by the Washington-based Economic Policy Institute (EPI). "This is a troubling development, young adults are less prepared to deal with unemployment than other age groups. Without significant prior full-time work experience, many may not qualify for unemployment insurance, or the social safety net," the EPI said. However, AARP, a nonprofit organization focused on people 50 years and older, did not agree with the EPI study. It said that the employment situation had worsened more for older workers than for their younger counterparts after the recession struck in December 2007. "Older workers are not getting hired in the place of younger workers, although some of them are remaining in the labourforce longer to make up for losses suffered in the stock market," the AARP said. "Some of the increase is also due to the aging of the boomers, large numbers of whom are moving into the older worker ranks. And perhaps some of it is due to the impact of policies designed to encourage older workers to remain longer at work." |
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| Source : 09-04-10 The Financial Express Compiled by Amresh Anjan |
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| Coal India Plans To Axe Its Workforce |
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| Coal India Ltd (CIL) is likely to shed 1,00,000 employees from its rolls over 10 years. The company employs 3,99,000 people now, of which 40-45 per cent are concentrated in two of its subsidiaries - Eastern Coal Fields Ltd and Bharat Coking Coal Ltd. According to company officials, almost all the reduction in the employee strength would be via natural attrition, like retirement, death and people leaving the company on medical grounds. |
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| Source : 07-04-10 Hindustan Times Compiled by Amresh Anjan |
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| BSNL's Trade Unions To Strike Work From April 19 |
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| The decision to disinvest the public sector Bharat Sanchar Nigam Ltd (BSNL) has got together all central trade unions once again and they have called an indefinite agitation from April 19 against the move. The Department of Telecommunications (DoT) had announced its decision to disinvest 30 per cent of shares of the PSU, based on the recommendations of the Sam Pitroda committee. The DoT Secretary called the trade unions for talks over their opposition to the recommendations. We could not agree to anything at the meeting and the strike would be indefinite, says Mr G L Dhar, Secretary of the All India Trade Union Congress. The BSNL indefinite strike is going to be the first united agitation after that. Mr M K Pandhe, national president of CITU, said the unions would fight the disinvestment and are not going to allow it at any cost. |
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| Source : 03-04-10 Business Standard Compiled by Amresh Anjan |
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| Hiring In US Private Sector Lifts March Payrolls |
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| Another sign of recovery in the job market - US employers created jobs in March at the fastest rate in three years as private firms stepped up hiring. Non-farm payrolls rose 162,000 and the unemployment rate held steady at 9.7 per cent for a third straight month, according to the Labor Department said. The increase in payrolls was only the third since the economy sunk into recession in late 2007 and was the largest gain since March 2007. Private employers appointed more workers than anticipated, while temporary hiring for the US decennial census came in below economists' forecasts. |
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| Source : 03-04-10 Business Standard Compiled by Amresh Anjan |
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| Hiring The Disabled Is Not Philanthropy Anymore |
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| Till sometime back, hiring disabled people was a part of corporate social responsibility (CSR). But things have changed now. These days, companies view disabled people as potential workforce. Mphasis Limited, Bangalore-based IT solutions company, increased the number of disabled employees eight-fold in less than a year. Besides this, Mr Ankit Jindal, a first-year student of Faculty of Management Studies, runs an organisation called Diversity and Equal Opportunity Centre (DEOC) to aid disabled people take up jobs in the corporate world. Interestingly, DEOC is a profit making organisation and not an NGO. It does research on recruitment, provides training and carries out building audits of corporates to give its clients suggestions on recruitment of disabled people. Wipro encourages employees to speak out about their disability at the time of recruitment so that right from the time of induction, adequate infrastructure modifications can be made for them. |
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| Source : 05-04-10 Business Standard Compiled by Amresh Anjan |
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| Salary Of US President Subject To Tax |
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| US President Mr Barack Obama's annual salary is $400,000 per annum, unlike many of the corporate executives from the Wall Street, who get millions in their annual salary. Besides his taxable income of $400,000, the US President also gets additional allowance of $50,000 which is not taxable and is used for official purposes only. At the present salary rate, he is going to receive a pension of $199,700 per annum. Mr Obama's salary is determined by the annual appropriations act under the US Constitution, which says, "The President shall, at stated times, receive for his Services, a compensation, which shall neither be increased nor diminished during the period for which he shall have been elected, and he shall not receive within that period any other emolument from the United States, or any of them." |
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| Source : 07-04-10 business.rediff.com Compiled by Amresh Anjan |
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| Reshuffling Takes Place In Religare's Board |
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| Religare Enterprises Ltd has announced that its Board of Directors at a meeting held on April 06, 2010, inter alia, approved the reshuffle of Board of Directors. The company approved appointment of Mr Sunil Godhwani as Chairman and Managing Director of Religare Enterprises Ltd and accepted the resignation of Mr Malvinder Mohan Singh as Chairman and member of the Religare Enterprises board. It also accepted resignation of Mr Shivinder Mohan Singh as member of the Religare Enterprises Ltd board. Besides that, the Board appointed Mr Shachindra Nath and Anil Saxena as new board members and also designated Mr Shachindra Nath as Chief Executive Officer (CEO) of the company. |
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| Source : 06-04-10 moneycontrol.com Compiled by Amresh Anjan |
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| Air India Names New COO |
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| National carrier Air India named expat Mr Gustav Baldauf as its chief operating officer, who along with CMD Mr Arvind Jadhav, is going to play an important role in turning around the loss-making airline. As per a statement by the airline, the Air India board in its meeting today approved the appointment of Mr Baldauf, who earlier had a stint with private airline Jet Airways. At present, he is the Executive Vice-President, Flight Operations, Austrian Airlines, and has been named as COO after being short-listed along with two other expats from amongst 140 applicants. |
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| Source : 06-04-10 profit.ndtv.com Compiled by Amresh Anjan |
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| Sun Pharma Names Mr Kal Sundaram As CEO |
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| Sun Pharmaceutical Industries has named Mr Kal Sundaram as Chief Executive Officer with effect from April 1. He has been appointed as an additional director and CEO of the company, Sun Pharmaceutical Industries said in a statement. |
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| Source : 09-04-10 The Financial Express Compiled by Amresh Anjan |
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| Credit Suisse Appoints Mr Aditya Mishra As Delhi Head |
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| Credit Suisse, Swiss banking major, has announced the appointment of Mr Aditya Mishra as head of operations in Delhi. He is going to report to Mr Puneet Matta, who is the head of wealth management for Credit Suisse in India. |
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| Source : 09-04-10 The Financial Express Compiled by Amresh Anjan |
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| Mr VR Ferose Named As MD Of SAP Labs India |
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| Business software solutions provider, SAP AG has named Mr V R Ferose as Managing Director of SAP Labs in India with effect from April 1, 2010. In the new and extended role, he would oversee R&D operations at SAP Labs across Bangalore and Gurgaon centres, the company said in a statement. |
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| Source : 09-04-10 The Financial Express Compiled by Amresh Anjan |
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| Villeroy & Boch Get A New Country Manager |
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| Villeroy & Boch (AG) Sales India Pvt Ltd has announced the appointment of Mr Srihari Nair as Country Manager. He is a part of the sanitary ware market since 1996 and has been considered as highly skilled on the market in India. |
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| Source : 09-04-10 The Financial Express Compiled by Amresh Anjan |
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| GSS America Appoints New CTO |
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| GSS America Infotech, an IT consulting and software development company, announced the appointment of Mr Pavan Maddali as its Chief Technology Officer. He would be responsible for providing strategic direction to the services and solutions offered by the organisation. His responsibility is also going to include maintaining chief executive officer relationships with various stakeholders of the customer organisations. |
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| Source : 06-04-10 The Hindu Compiled by Amresh Anjan |
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| Firstsource CEO Steps Down |
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| Mr Ananda Mukherjee, MD & CEO of Firstsource, India's leading BPO provider, is going to quit from his current position on July 27, 2010. Mr Matthew Vallance, who is currently Joint MD and President at BFSI & Telecom and Media, is going to succeed him. |
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| Source : 09-04-10 Business Standard Compiled by Amresh Anjan |
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