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Manufacturing To Contribute 25 % Of GDP ; Create 100 Million Jobs Within A Decade The Union Cabinet gave its approval to the long-awaited ambitious National Manufacturing Policy (NMP), which seeks to set up mega industrial zones, create 100 million jobs by 2022 and put India at par with manufacturing powers like China and Japan."The NMP seeks to enhance the share of manufacturing in the GDP to 25 per cent within a decade and create 100 million jobs in manufacturing as part of the inclusive growth agenda of the UPA,'' an elated Commerce and Industry Minister, Anand Sharma said after the Cabinet meeting chaired by Prime Minister, Manmohan Singh. Ruling out any kind of subsidies for units operating in these manufacturing zones, the newly approved policy states that to encourage the manufacturing sector, the government will provide fiscal incentives to the industry, particularly to the small and medium enterprises (SMEs). Source : 25-10-11 The Hindu Compiled by Amresh Anjan
ILO Sees Unemployment Growing, Sparking Unrest Unemployment looks set to grow around the globe well into the present decade, sparking increasing public protest especially in Europe and the Middle East, the International Labour Organisation (ILO) said .In its annual World of Work Report, the United Nations agency said the global economy was on the verge of a new and deeper jobs recession and warned that austerity policies adopted by many countries would only make the situation worse."The next few months will be crucial for avoiding a dramatic downturn in employment and a further significant aggravation of social unrest," said main author Raymond Torres in an editorial comment in the report.
Source : 01-11-11 Reuters.com Compiled by Amresh Anjan
No Let-Up In Hiring By Top IT Majors Despite Macro Weakness There seems to be no slowdown in the hiring momentum of large IT players and their ranks continue to swell in spite of the global macroeconomic weakness in Western markets.The top three listed Indian IT companies now employ an aggregate 4.9 lakh professionals, over 18 per cent higher than the year ago count. The combined headcount for these top companies – TCS, Infosys and Wipro – for quarter ended September is 5.6 per cent higher than the preceding three months."We have seen a positive trend in hiring by large IT companies," said Ms Annamma Renu, Manager (IT Practice) of Elixir, a recruitment consulting firm.
Source : 31-10-11 Hindu Business Line Compiled by Amresh Anjan
Kingfisher Delays Salaries For Second Consecutive Month After defaulting on payments to airports and oil companies, Kingfisher Airlines Ltd has delayed salary payments for the second consecutive month.India's second largest carrier by passengers suffered a loss of Rs.1,027 crore in the year ended 31 March, by when it had accumulated Rs.7,057.08 crore in debt.Salaries are typically credited to the accounts of its employees on the 7th day of every month. They are yet to be credited this month; last month, they were credited only by the 18th."No one really knows or cares," said a Kingfisher executive, asking not to be named. "What annoys (me) is not that salary is delayed, but (there is) no communication, because communicating that salary will be delayed will lead to people seeking answers as to who is responsible for the mess."
Source : 13-10-11 Mint Compiled by Amresh Anjan
International Retailers Go Slow On Hiring Plans Foreign retailers have put their hiring plans for proposed multi-brand outlets in India on hold. Sensing the government's mood, executive search companies said, these retailers had slowed down their hiring initiatives. Hiring firms call India an interesting market, but agree retail is a different game. Preety Kumar, managing partner (India) of Amrop, said that the hiring activity was quite little among foreign retailers. "We have met most of these clients. But none of them have put forth a clear plan," she said. "Hiring plans of foreign retailers at this point are itsy-bitsy and there's nothing mega about it," said Ms Kumar. "I'm sure they have a plan, but not ready to execute, as they are waiting for clarity in regulation to operate in India."
Source : 31-10-11 Business Standard Compiled by Amresh Anjan
Maruti Strike A Warning Signal To Industry Worker-management disputes such as the strike at Maruti Suzuki India may spill into other sectors as well, if not checked. Capital goods and chemicals manufacturers, for instance, employ a large number of contract labour at low wages and urgently need skilled people. As it is more difficult to fire permanent staff under the law, industries recruit contract workers at lower pay. Their unequal benefits often lead to hostility between permanent and contract staff. Labour trouble in manufacturing occurs due to the high percentage (60 percent to 90 percent) of contract workers hired usually through middlemen/contractors. If this large section of the workforce goes on a strike, work at the plant can come to a total halt, said Abdul Majeed, partner at PricewaterhouseCoopers India. The management needs to open communication channels with the workforce, else the problem will start erupting in other sectors as well, Mr. Majeed said.
Source : 31-10-11 Hindu Business Line Compiled by Amresh Anjan
100% Of JBIMS's 2013 Batch Get Summer Jobs The summer placement season at Jamnalal Bajaj Institute of Management Studies (JBIMS) was marked by bigger and better offers this year. The highest domestic stipend for a two-month internship jumped from Rs 1.5 lakh last year to Rs 2 lakh this year. The average domestic stipend rose from Rs 72,000 to Rs 89,000 this year, a Rs 17,000 rise."We had our apprehensions because of the state of the economy, but we bucked the trend," said Ankit Rampuria, a placement committee member at JBIMS.The entire batch of 120 students was placed with the 79 companies visiting the campus. The largest number of students, 38 percent, was placed in banking, financial insurance services and investment banking, followed by consumer goods and pharma at 28 percent and consultancy at 17 percent.
Source : 25-10-11 Hindustan Times Compiled by Amresh Anjan
Oracle To Ramp Up India Count By 3,500 California-headquartered Oracle oannounced plans to hire 3,500 professionals in India by May 2012. The company currently employs around 21,000 people in India The initiative by Oracle, which develops software and manages database systems for corporations, comes in the wake of rapid growth of its businesses in India.The company will recruit at all levels ranging from graduates to senior sales professionals and technical consultants. "Our hiring plans in India are in sync with our business growth," said Sandeep Mathur, managing director, Oracle India.With the new hires, Oracle expects to have the right mix of talent, skills and attitude that would help expedite it's growth.The company had last week announced plans to hire 600 in China and 1,700 people across Europe last month.
Source : 20-10-11 Hindustan Times Compiled by Amresh Anjan
TCS On Hiring Spree, Adds 20,000 Staff Tata Consultancy Services (TCS) said that for the first time in its history it has added 20,349 staffs, including freshers and laterals, during the July-September quarter 2011.According to Ajoy Mukherjee, TCS executive vice president and global head – Human Resources, the company hiring over 20,000 people for the second quarter is the highest in the TCS history and the hiring guidance of 60,000 for this fiscal is very much on target.The company was able to lower its attrition rate to 13.7 per cent for the second quarter, which was 14.8 per cent in the previous quarter. "There are two factors that lowered attrition -employee engagement and seasonality of attrition. Attrition will be higher in the first quarter compared to second," Mr. Mukherjee commented.
Source : 18-10-11 CIOL.com Compiled by Amresh Anjan
Rolls Royce Enhances Focus In India With Appointment Of New Business Development Head Rolls Royce Motor Cars, a UK based fully owned subsidiary of the luxury car maker BMW appointed Herfried Hasenoehrl as firm`s Business Development Head for India, Bangladesh and Sri Lankan markets. Herfried Hasenoehrl has been associated with the parent group BMW group, holding the responsibility of senior manager for the brand in Thailand and Munich. He was also responsible for product and price management during these operations.
Source : 28-10-11 Cartradeindia.com Compiled by Amresh Anjan
TE Connectivity Appoints India Operations Chief TE Connectivity Ltd. recently announced the appointment of V Raja as President of TE Connectivity, India, effective October 7, 2011. According to a press release, in his new role, Raja will continue to build the company's team and operations in India, and serve as TE's executive leader with government officials and customers in India. Mr. Raja will report to Joe Donahue, TE's Executive Vice President and Chief Operating Officer. Source : 28-10-11 interconnectionworld.comCompiled by Amresh Anjan
Whirlpool To Slash Over 5,000 Jobs In North America, Europe Home appliance maker Whirlpool plans to reduce its workforce by more than 5,000 people in North America and Europe, as a result of which about 10 percent of jobs would be eliminated in these regions."The company's cost and capacity reduction plans include a workforce reduction of more than 5,000 positions primarily within North America and Europe (approximately a 10 percent workforce reduction in those regions)," said a Whirlpool source. Whirlpool, which has a significant presence in India, said in a statement that the planned job cuts would include a reduction of about 1,200 salaried positions. Source : 28-10-11 Zee News Compiled by Amresh Anjan
Turner Appoints Vivek Bahl As Chief Content Officer Turner International has appointed Vivek Bahl as Chief Content Officer, a newly created position. He will be joining from November 1, 2011, and will be based in Turner's Mumbai office. He will report to Mark Eyers, Chief Content Officer, Turner Broadcasting System Asia Pacific.Mr. Bahl will oversee the content strategy and development of Turner's diverse portfolio of entertainment brands in India including Imagine TV, Cartoon Network, POGO and WB. He will be responsible for all aspects of Turner's entertainment content and oversee the acquisition, development, production, program scheduling and operations supported by Turner's strong content teams across each brand.
Source : 28-10-11 Bestmediainfo.com Compiled by Amresh Anjan
Novartis To Cut Jobs In Switzerland And U.S., Add In China Novartis AG, Europe's second-biggest pharmaceutical company, plans to eliminate 2,000 jobs in Switzerland and the U.S. and add employees in China and India to offset the effect of drug price reductions. The cuts, equivalent to about 1 percent of Novartis's workforce, will be implemented over three to five years, and will generate annual savings of more than $200 million a year, the Basel, Switzerland-based Company said in a statement today. Novartis plans to close a plant in Nyon, Switzerland, that makes over-the-counter drugs, and chemical sites in Basel and Torre, Italy. The company will take a fourth-quarter restructuring charge of about $300 million.
Source : 25-10-11 Sanfrancisco Chronicle.com Compiled by Amresh Anjan
Tata Global Beverages Appoints Director Tata Global Beverages Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on October 28, 2011, inter alia, has decided to appoint Mr. Ajoy Misra as a Director and Executive Director on the Board of the Company for a period of five years with effect from November 01, 2011.
Source : 31-10-11 Moneycontrol.com Compiled by Amresh Anjan
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