HR Headlines: May-10 (Part-2)

For more article, Visit at : www.amreshanjan.co.cc   Bankers To Have Fatter Wallets This Year Almost 5 lakh bank employees and 2.5 lakh officers are going to get a pay hike of 17.5 per cent after the unions signed their ninth bipartite wage revision agreement with the Indian Banks' Association (IBA), the bank employer's forum. The hike will be effective from November 1, 2007. The settlement will include 26 nationalised banks, 12 private sector banks and eight foreign banks. Source : 28-04-10   The Telegraph   Compiled by Amresh Anjan   Small-city B-School Students Struggle To Find A Job In smaller cities, there are several institutes where students are struggling to get a placement. For instance, the Kousali Institute of Management Studies, located in Dharwad, about 425 km northwest of Bangalore. Only 20 of the 60 MBA students here have been placed. The remaining students are waiting, unsure about their fate on the jobs front. The fate of engineering students at Moradabad Institute of Technology, 167 km southeast of New Delhi, is equally grim. Mr Hari Om Agarwal, additional director at the institute, says only 20% of the 411 final year students have got placed so far. "Placements started in January. We are hopeful that by May about 60% will get placed." Similarly, only 12 of the 75 students from Aditya Engineering College in Beed, 450 kms from Mumbai, have got placed. And the lucky few who have got decent jobs, the average annual salaries are much lower than the huge packages earned by students from Tier I institutes. Except for IITs, IIMs, and a few tier I institutes, the placement scenario in the rest is gloomy, with the schools finding it a Herculean task to place their students. Source : 27-04-10   DNA   Compiled by Amresh Anjan   Wipro To Hire 11,000 Fresher Wipro is planning to add about 11,000 freshers during the current fiscal (2010-11) with 65 per cent of them being engineers and the rest from other streams. The company's Executive Vice-President, HR, Brand and Communications, Mr Pratik Kumar, said that this decision to expand its potential talent pool to non-engineering graduates was a 'conscious one' that the company took several years ago and the multiple years of experience in following this practice has helped them scale up the numbers. Wipro said it hired 5,325 employees in the fourth quarter. But the company did not reveal the number of employees it plans to hire during the next one year. Source : 24-04-10   The Hindu Business Line   Compiled by Amresh Anjan   Big Names Big Fees But No Guarantee For Big Jobs An MBA degree from a top-class institute may not always translate into a red carpet entry into the corporate world. Top institutes like Indian School of Business (ISB) in Hyderabad and Great Lakes Institute of Management, Chennai, have still not been able to place several of their students. Even though the ISB convocation is over, about 30% of its latest batch of 570 students is yet to be placed. Also, a fourth of Great Lakes' 2009-10 batch of 260 students has not got placements, according to a recruitment consultant. However, the institutes are positive. Mr Ajit Rangnekar, dean, ISB, said, compared to a year ago, placements are better this time. "We have a rolling placement system. With so many students, it's impossible to accommodate all the companies who want to recruit before March 31. We have nearly a hundred companies still very keen to recruit," Mr TN Swaminathan, director, admissions & external relations, Great Lakes, said. The recruitment consultant, however, said, though the institutes are positive about placing all their students, there are chances that some students, despite spending over Rs 10 lakh for the course, will have to look for jobs on their own. Source : 27-04-10   DNA   Compiled by Amresh Anjan   UK Bank Barclays Trims 250 Jobs In India British bank Barclays has slashed 250 jobs in India, while another 50 to 55 staff have been reassigned or have resigned from the bank in recent weeks, a corporate spokesman said. The job cuts, a large number of them in the collections team, followed two rounds of layoffs at the bank last year totalling about 240 people, the spokesman added. After the job losses, it still employs over 5,000 people in India across its businesses including retail, corporate and investment banking, and its technology centre, the bank said in a statement. Source : 29-04-10   iblive.in.com   Compiled by Amresh Anjan   Manpower Shortage Affects Patni Computers Patni Computer Systems Ltd hasn't been able to fully capitalize on the revival in demand for IT (information technology) services because of a shortage of trained manpower. In the March quarter, the firm's revenues grew by just 1.3% sequentially and are expected to be flat in the June quarter. Patni's chief financial officer Mr Surjeet Singh said, while demand for its services is stable, the firm has been constrained by its ability to service clients because of supply-side (manpower) shortages. He added that there was unplanned attrition in the March quarter, leading to supply constraints. Attrition in the company rose to 17.7% last quarter, compared with 13.7% in the December quarter. If Patni had sufficient staff on the bench, it would have been able to manage the supply side better in spite of this surge in attrition. Source : 29-04-10   livemint.com   Compiled by Amresh Anjan   Singapore's HC Orders Stanchart To Pay Banker It Fired On First Day Singapore's High Court has ordered Standard Chartered Plc to pay Mr Fermin Aldabe for wrongful dismissal after the lender's global senior risk manager said he would resign on his first day on the job. Justice Steven Chong said in his judgment that the London-based bank must pay Mr Aldabe at least S$40, 333 ($29, 384) including one month's salary of S$27, 500 and his wage from November 17 to November 30, 2008. He was fired after saying he'd resign when told that he wouldn't be paid for a two-week period before the start date stipulated in his offer letter. Source : 24-04-10   Business Standard   Compiled by Amresh Anjan   Ford India Appoints New V-P (Sales) Ford India has announced the appointment of Mr N Raja as vice president, sales, with effect from April 1. He will be responsible for delivering the sales and revenue targets for Ford products in the Indian automotive market. Source : 30-04-10   The Financial Express   Compiled by Amresh Anjan   Mr Sinha Named As Exec VP At Hinduja Global Hinduja Global Solutions has appointed Mr Sanjay Sinha as executive vice president – human resources. His key responsibility will be to integrate the various HR capabilities of the M&A opportunities that HGS is exploring globally. Source : 30-04-10   The Financial Express   Compiled by Amresh Anjan   Religare Securities Announces The Appointment Of New CEO Mr Gagan Randev has been made the CEO of Religare Securities, the retail brokerage arm of Religare Enterprises. Mr Randev, a former head of wealth management at ABN Amro, will have Mr Ashu Madan (COO Religare Securities), Mr Jayant Manglik (president – commodities, Religare Commodities Ltd) and Mr Sandeep Shukla (president – capital market finance, Religare Finance) in his management team. Source : 30-04-10   The Financial Express   Compiled by Amresh Anjan   AI Board Gets A New Member Dubai-based expatriate businessman and Padma awardee, Mr Yusuff Ali M.A would be the fifth independent board member at Air India. The Appointments Committee of Cabinet has cleared his name, senior civil aviation ministry officials said. Mr Ali is the managing director of Emke Group of Companies, which has its corporate office in Abu Dhabi. Source : 29-04-10   Hindustan Times   Compiled by Amresh Anjan   Ms Lakshmi Venkatachalam Named As ADB Vice-President Asian Development Bank (ADB), an international development finance institution headquartered in Manila, Phillipines, has named Ms Lakshmi Venkatachalam as vice president of the bank. She is the fifth vice president of ADB and has been appointed for a period of three years, it said in a statement. Ms Venkatachalam will be responsible for handling ADB's private sector and cofinancing operations. Source : 24-04-10   The Hindu   Compiled by Amresh Anjan   Imagine TV Gets A New Content Head Turner General Entertainment Networks India Ltd (TGEN) announced that Mr Harsh Rohatgi will take over the role of head of content and communication of its flagship Hindi GEC, Imagine TV, with immediate effect. In the new role, Mr Rohatgi will oversee all the creative, strategic, marketing, commercial and management functions of Imagine which will include programming, marketing, communication, commercial, research and strategic planning. Source : 27-04-10   livemint.com   Compiled by Amresh Anjan   Goldman To Hire ICICI's Mr Sonjoy Chatterjee As India Co-CEO Goldman Sachs is planning to appoint a board member of ICICI Bank as co-CEO for India. Mr Sonjoy Chatterjee will be named co-CEO at Goldman Sachs in India, alongside Mr Brooks Entwistle, who has headed the bank's operations in India since January 2006. Source : 29-04-10   DNA   Compiled by Amresh Anjan