Naukri Job Speak Index For Nov-10 Grew By 12% Year On Year The Naukri Job Speak index for Nov-10 was at 922 as compared to 949 in Oct-10, indicating a marginal decline of 3% month on month. Usually, this fluctuation is a seasonal decline every year owing to the Diwali and Dusshera festivities where companies generally scale back their recruitment plans. Therefore, although November witnessed lower hiring figures across cities and industries, the stable three month moving average indices indicates sustained growth in hiring activity. An in-depth analysis of the indices shows that Telecom and Pharma which registered 5% and 4% growth respectively in Nov-10 over Oct-10, while all other key industry sectors registered monthly declines. The three month moving average indices of all core sectors maintained stable levels thus confirming that this dip was due to the festive season. After attaining all time high indices in the past months, the index for IT- Software and Auto sector dipped by 6% respectively in Nov-10 over Oct-10. Nevertheless, on a year-on-year basis the IT sector is up by 26% and Auto by 30% in Nov-10 over Nov-09. Both BPO and Construction sectors edged down by 4% respectively in Nov-10, while the Banking and Financial services sector maintained steady hiring levels.
Source : 12-12-10 naukri.com Compiled by Amresh Anjan
Facebook Offers Rs 70 Lakh To An IIT Student Annual campus recruitment programs in the IITs got a big boost when Facebook offered one of its students a Rs 70 Lakh job. The computer science and engineering student of IIT-Kharagpur has received a 'join-us' post from the website. On the offer letter, officials from IIT-Kharagpur said the social networking website offered a starting salary of $90,000, a relocation bonus of $10,000 and a one-time signing amount of $25,000 to the 21-year-old from Jamshedpur. But on the Kharagpur campus, students said that he had also been offered ESOPs and the entire offer translates to about Rs 1.7 crore.
Source : 06-12-10 Business Standard Compiled by Amresh Anjan
AI Independent Directors Likely To Get Salary Hike Looks like Air India is following different compensation benchmarks for its top executives and the general employees. The cash-starved airline has proposed a ten-fold increase in the sitting fee of its independent directors even as it struggles to pay the salaries of nearly 29,000 staff on time and frequently advances the salary and allowances' reimbursement date. The carrier has sent the proposal for a sharp rise in sitting fee of independent directors to the ministry of civil aviation. Official sources revealed that Air India has decided to increase the sitting fee to Rs 20,000 from Rs 2,000 at present.
Source : 06-12-10 The Financial Express Compiled by Amresh Anjan
Enam Employees To Get Retention Sweeteners Just weeks after selling the core businesses of Enam, the capital market intermediary, to Axis Bank, veteran deal maker Mr Vallabh Bhansali is busy devising a reward package for about 450 employees. Last month, the private sector lender bought Enam's investment banking, equity broking and insurance distribution businesses, to be housed in its wholly-owned unit, Axis Securities and Sales. The deal has to be approved by the Reserve Bank of India and the Securities and Exchange Board of India. According to the analysts, the deal is to be completed within six months. In the all-stock deal, worth Rs 2,067 crore, 90 per cent Axis shares will go to Enam's promoters/shareholders. The remaining 10 per cent will go to the Enam employees' trust. Under the deal, it's Enam's responsibility to work out a package for its employees in order to retain them.
Source : 08-12-10 Business Standard Compiled by Amresh Anjan
Govt Approves Rejig Of SBI Top Deck State Bank of India witnessed a major rejig in key portfolios with the government clearing the appointment of Mr Hemant Contractor and Mr Pratip Chaudhuri as new managing directors. Mr Contractor has been named as MD and chief financial officer. Mr SS Ranjan, who was handling this portfolio, is yet to be assigned a new portfolio within the bank or in its associates. Prior to this, Mr Contractor was in charge of the corporate banking portfolio. Mr Pratip Chaudhuri, deputy MD in charge of the bank's global banking portfolio, has also been promoted as MD.
Source : 07-12-10 Business Standard Compiled by Amresh Anjan
Another Great Act Of Philanthropy – This Time By HCL's Mr Nayar Close on the heels of Wipro Chairman Mr Azim Premji's Rs 8,846-crore philanthropic grant, Mr Vineet Nayar, vice chairman and CEO of HCL technologies, pledged Rs 43 crore to SAMPARK – an NGO working for improvement of school infrastructure in the country. He sold one million shares of HCL Technologies, held by him, to fund the philanthropic grant.
Source : 08-12-10 Hindustan Times Compiled by Amresh Anjan
1.3 Million Jobs Created: Labour Bureau The overall employment figure in the country rose by 1.3 million in the last one year, with the IT/BPO sector creating the maximum employment opportunities. The figures were compiled out of quarterly surveys conducted by the Labour Bureau between September last year and September this year. A survey done by the bureau under the Labour and Employment Ministry showed the ITO/BPO sector generated 854, 000 employment opportunities while the textiles sector generated the second highest employment opportunities at 152, 000 jobs being created during this period.
Source : 06-12-10 Business Standard Compiled by Amresh Anjan
New Norms For Safety Of Female Employees The Delhi Police has come up with new norms for safety of women. A female worker must be dropped at her doorstep, must not be seated at the car's rear seats and should not be the first to be picked or last to be dropped. Cab drivers who don't follow these rules will be sent to jail. The police said that organizations employing the women will also be held responsible and booked for criminal negligence.
Source : 10-12-10 Hindustan Times Compiled by Amresh Anjan
AI Staff Redeployment To Take Off Soon Air India's plan to redeploy about 28,000 employees including contractual workers is expected to take off soon with the civil aviation ministry approaching the Cabinet for operationalising of two special business units (SBUs) of maintenance, repair and overhaul (MRO) and ground-handling. The move would help the cash-starved airline reduce its wage bill by making the salary structure comparable with the private sector. The two SBUs of ground handling and MRO would be managed respectively by the airline's subsidiaries — Air India Air Transport and Air India Engineering respectively. However, another SBU of cargo would continue to function under the Air India management.
Source : 07-11-10 The Financial Express Compiled by Amresh Anjan
Mr H Kwon Is LG India MD LG Electronics India said that Mr Soon H Kwon will replace Mr Moon B Shin as the managing director of LG Electronics India. Mr Shin will take over as the global head, sales and marketing, home appliances at the LG Electronics headquarters in Seoul. Before this, he was the Global Head, LG Electronics Business Solutions.
Source : 10-12-10 Business Standard Compiled by Amresh Anjan
Pfizer Appoints New Emerging Markets Chief Pfizer Inc has announced the appointment of Mr David Simmons head of emerging markets, replacing Mr Jean – Miche Halfon. Mr Simmons, the president and general manager of the established products business unit, will add emerging markets to his current responsibilities, a company spokesman said.
Source : 10-12-10 Business Standard Compiled by Amresh Anjan
Mr V Manickam Joins Pension Fund As CEO Mr V Manickam has been named as chief executive officer of LIC Pension Fund Limited, a public limited company approved by PFRDA for managing pension funds of central & state government employees (except armed forces) who joined services on or after January 1, 2004. Mr Manickam took charge on Dec 1 after the retirement of Mr H Sadhak on November 30.
Source : 07-12-10 The Financial Express Compiled by Amresh Anjan
Mr R. K. Singh Named As CMD Of BPCL The Centre has appointed Mr R. K. Singh as the Chairman and Managing Director of Bharat Petroleum Corporation Ltd. (BPCL). In a statement, BPCL said, Mr. Singh had been appointed by the Competent Authority as Chairman and Managing Director from the date of taking over charge of the post. Mr. Singh would control the reins of the nation's second largest public sector refining and marketing company till September, 2013.
Source : 09-12-10 The Hindu Compiled by Amresh Anjan
Ms Bhawna Agarwal Joins Seventymm.com As COO Online movie rental company Seventymm.com has named Ms Bhawna Agarwal as chief operating officer. Before this, Ms Agarwal was founding vice president and head of business at Yatra.com. In the new role, she will be responsible for expanding Seventymm's business interests, developing growth strategies, and launching new products and initiatives.
Source : 09-12-10 alootechie.com Compiled by Amresh Anjan
Deals and You.com Gets A New CEO Deals And You.com has appointed Mr Gaurav Kachru as the Chief Executive Officer with immediate effect. As per a release, he shall report into Mr Harish Bahl, Founder and CEO, Smile Interactive Technologies Group and will be based out of Gurgaon.
Source : 10-12-10 The Hindu Compiled by Amresh Anjan
BNP Paribas Names Mr Eric Raynaud As Head Of Asia-Pacific BNP Paribas announced the appointment of Mr Eric Raynaud as head of Asia-Pacific (APAC) and chief executive officer for Corporate and Investment Banking APAC. Raynaud will be based in Asia and his appointment will be effective early January 2011. Mr Raynaud's appointment is an integral part of BNP Paribas' robust growth strategy for the Asia-Pacific region and underscores the bank's commitment to grow its franchise here in APAC including to capitalise on the opportunities created by the high-growth markets of China and India, a company release said.
Source : 09-12-10 DNA Compiled by Amresh Anjan
Cipla Joint MD MR Amar Lulla To Step Down Drug maker, Cipla said that its Joint Managing Director Mr Amar Lulla will exit the company with effect from December 13, 2010. Mr Lulla's contract as JMD of the company will expire on December 13, 2010. He has told the company that he is not in a position to continue his services in the above capacity on expiry of his current term.
Source : 09-12-10 Business Standard Compiled by Amresh Anjan
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