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Telcos Begin To Slash Headcount Telecom operators have started trimming their workforce, resulting in "enormous" job losses. The reductions are happening at all levels. Only people at key strategic positions are being retained, said Madhubala Vaidyanathan, TeamLease Services general manager, services. Jyorden Misra, managing director, Spearhead InterSearch, said new telecom companies had hired actively to support their anticipated operational scale-up. The licence cancellation has brought an abrupt halt to any hiring plans. Experts noted that there is a large enough talent pool available for the telecom sector. They expect demand to look up once again and overseas opportunities opening up, which have a huge demand for Indian telecom professionals. The surplus talent could flow into hospitality, consumer goods, financial services and banking. It may take a year for telcos to consolidate and rightsize. Source : 08-04-12 Financial Chronicle Compiled by Amresh Anjan Survey: Q4 Manufacturing May Be Higher; Modest Increase Forecast For Hiring Manufacturing is expected to show modest growth during the March quarter of 2011-12, spurred by higher book orders and an improved export outlook. The latest quarterly survey by the Federation of Indian Chambers of Commerce and Industry said 36 percent of the 336 manufacturing units expect higher manufacturing growth in the last quarter. Output rose 8.5 percent in January, compared to 8.1 percent in the same month last year. Demand also improved compared to the previous quarters. Manufacturing exports were expected to rise during the period. About 58 percent respondents said the rising cost of raw materials was a major constraint for growth. About 30 percent reported they were planning to increase their workforce in the next three months. The survey predicted less than 5 percent growth for seven out of 12 sectors and 10 percent for four sectors. Source : 08-04-12 Financial Chronicle Compiled by Amresh Anjan Sony To Axe 10,000 Jobs: Report Sony is cutting 10,000 jobs, about 6 per cent of its global workforce as new CEO Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red. The job cuts would be the latest downsizing in Japan Inc where companies from cellphone maker NEC to electronics firm Panasonic are trimming costs in the face of a strong yen and competition from rivals like Apple and Samsung Electronics.TV makers in particular have been hit hard by the tough business climate as well as sharp price falls, with Sony, Panasonic and Sharp expecting to have lost a combined US$17 billion ($20 billion) in the fiscal year just ended. Source : 10-04-12 stuff.com Compiled by Amresh Anjan Yahoo To Cull 2,000 Positions Yahoo has announced it will be shedding 2,000 employees. The move could save $375 million in a year for the struggling company. It has been facing stiff competition from Google and Facebook, and is struggling to expand its share in the internet market. It currently has nearly 14,000 employees. CEO Scott Thompson said the proposed reduction in jobs was a start towards making Yahoo a smaller, nimbler, more profitable and better equipped to innovate. As part of the effort to serve users and advertisers better, around 2,000 positions will be terminated in a phased manner, the company said. Yahoo expects to incur most of the estimated $125 million to $145 million pre-tax cash charge relating to the cuts in its second quarter financial results. It may incur additional charges in connection with this action. Source : 04-04-12 Financial Chronicle Compiled by Amresh Anjan New B-Schools Look To Sell Out As Occupancy Falls New management schools which have failed to acquire students are shutting shop and approaching other B-schools to take them over. Harivansh Chaturvedi, director of Greater Noida-based Birla Institute of Management and Technology, has received requests from five B-schools to take over control from them. Mumbai Business School is another one seeking closure. It was promoted by A Mahendran, managing director, Godrej Consumer Products, Jagdish Sheth, leading marketing guru, and Charles H Kellstadt, professor of marketing at Emory University. A Gurgaon-based B-school has roped in Jones Lang LaSalle, global real estate services firm, to find an investor for its campus. According to research by Crisil, a shake-out in the higher education space is expected due to declining occupancy. In 2011-12, occupancy declined to around 67 percent for engineering colleges and 65 percent for B-schools. Source : 07-04-12 Business Standard Compiled by Amresh Anjan Pay Hikes In Tech R&D Firms May Slip A Notch Tech R&D companies are expected to give increments of about 12.6 percent this year, slightly lower than 13 percent in 2011, Hindu Business Line reports. A compensation and benefit study by consulting firm Zinnov, which analysed 62,000 employees, says R&D investments increased 8.2 percent globally, compared to the previous year. India is home to more than one-third of R&D companies, among which are Adobe, Ericsson, EMC, Cisco, Yahoo, Microsoft, IBM and Intel. There are 718 multinational company R&D centres in India. Bangalore houses 43 percent of these centres. The sector employs about two lakh engineers. Hiring has been growing at 9 percent annually for the last five years. Attrition fell to 17.4 percent in 2011, compared to 21 percent the previous year. The segment has been maturing, improving hiring strategy and providing sustained career growth, said Praveen Bhadada, director, market expansion, Zinnov. Source : 13-04-12 Hindu Business Line Compiled by Amresh Anjan Top-Level Rejig At Tea Auctioneer J Thomas Tea auctioneer J Thomas & Company Pvt Ltd has elevated its Managing Director, Mr Viveck Crishna to the post of Vice-Chairman and Managing Director. Mr. Crishna will be based in Kolkata and look after the company's North Indian operations covering the three auction centres at Kolkata, Guwahati and Siliguri.With this change, Mr. Crishna has been on a par with Mr Vijay Shankar, currently the Vice-Chairman and Managing Director in charge of the company's South Indian operations covering auction centres at Kochi, Coimbatore and Coonoor. The size of the company's board, however, remains unchanged at nine. J Thomas has many managing directors. For example, Mr Ashok Batra is Chairman & Managing Director, Mr Viveck Chrishna and Mr Vijay Shankar both Vice-Chairman and Managing Directors, Mr Krishan Katyal is Managing Director and Mr C. A. Mohan is Managing Director (Finance). Source : 04-04-12 Hindu Business Line Compiled by Amresh Anjan Brazil, India Lead In Business Confidence Survey A Regus survey has put Brazil and India at the top of the Business Confidence Index. The index is based on a survey of views on likely revenue, profit trends and growth. The survey polled 16,000 business managers and owners from 86 countries. According to the report, business confidence in Brazil in March was at 148 points, followed by India at 143 points. The benchmark of 100 indicates a neutral outlook. Japan appeared to be at the extreme at 82 points. However, there was a 2-point fall in business confidence in India, from September 2011 to March this year. Brazil, by contrast, witnessed a rise of 2 points. For India, companies reporting revenue growth increased to 69 percent, compared to 52 percent six months ago. However, the companies reporting an increase in profit stood at 58 percent, a drop of 1 percent. Source : 03-04-12 Financial Express Compiled by Amresh Anjan Offers, Salaries Look Up At Non-IIM B-Schools Compensation offers at top business schools other than the Indian Institutes of Management have surged 7 percent to 20 percent this year. Management schools also saw a greater number of offers from recruiters. At the Faculty of Management Studies, Delhi, 96 companies made final offers to a batch of 227 students. The average annual salary climbed to Rs 16.34 lakh, an increase of 6.1 percent. At XLRI Jamshedpur, the average domestic salary was Rs 16.48 lakh a year and the median domestic salary Rs 15.5 lakh. Global pharma company Novartis made the highest international offer of $150,000. The Indian Institute of Foreign Trade saw offers flood in from Singapore, Switzerland, Germany, Dubai, Vietnam, Myanmar and Africa. The institute completed 100 percent placement this year. The highest domestic offer was of Rs 19 lakh per annum, up 22 percent from last year. Source : 10-04-12 Financial Express Compiled by Amresh Anjan IT In India Most Confident Of Tiding Over Disaster A study said Indian IT heads were more confident about their backup and DR operations in case of a tsunami than their counterparts in BRICS nations. Backup and DR is increasingly gaining importance as companies fan out into different geographical locations. The study was conducted by Ponemon Institute and commissioned by Acronis. It polled 6,000 IT heads across 580 Indian companies. The study pointed out that 51 percent of Indian companies were highly confident that their backup and DR operations would not fail. Around 59 percent believed they had enough resources to enable comprehensive backup and DR operations. When it comes to successfully recovering from a serious incident, Indians were the most confident among Asian businesses. Around 66 percent said their backup and DR operations would not fail. This compares with an Asian average of 50 percent. Source : 04-04-12 Hindu Business Line Compiled by Amresh Anjan Microsoft: Visa Bill Key To Retaining Talent Edge Microsoft has urged the U.S. Senate to pass a bill regarding H-1B visas, which are being viewed as critical to the U.S. economy. Brad Smith, Microsoft's general counsel and executive vice president, legal and corporate affairs, said individuals employed in the H-1B category are educated at some of the best universities, and a crucial resource to the business. The U.S. was "hungry" for workers with strong educational backgrounds, especially those with degrees in the science, technology, engineering and mathematics fields. He urged the Senate to make rules lighter for this highly skilled talent. He also sought faster clearance of visa backlogs. Mr. Smith called upon the Senate to pass the Fairness for High-Skilled Immigrants Act, which would replace the discriminatory bill placing "per-country" limit on green cards. Source : 03-04-12 Financial Express Compiled by Amresh Anjan BSE Chief To Join Tata Sons Madhu Kannan, managing director and CEO of the Bombay Stock Exchange (BSE), will be leaving after his current term expires in May. Tata Sons said in a press release he will be joining as group head, business development. Source : 05-04-12 Financial Express Compiled by Amresh Anjan March PMI Drops, But Growth Outlook Intact Output growth was the lowest in three months in March, though Indian manufacturers reported a notable rise in new business. HSBC's purchasing managers' index (PMI) fell from 56.6 in February to 54.7 percent in March. Power cuts and raw material shortages hampered new business activity but new export orders accelerated. The manufacturing sector saw a marginal increase in jobs, the report said. Although the PMI declined, growth prospects remained intact. The index touched a nine-month high in January, suggesting that India was back on the high growth path after the slowdown. The latest numbers do not imply a weakening demand for industrial goods, as new business orders have been increasing since December. Growth has been constrained by power cuts and raw material shortages. Input costs also rose the slowest in March, compared to the past one and a half years. Source : 04-04-12 Hindu Business Line Compiled by Amresh Anjan Cloud Computing Opens More Job Avenues Cloud computing is expected to create a substantial number of jobs in India. Kalyan Kumar, assistant vice president and head CFS-ISD, HCL Technologies, says the company will hire more as applications move to cloud. Adapting to the new technology does not mean that companies would require less people but they would need more capable people and the existing employees would have to skill up. A study by market advisory firm Zinnov pegs the total cloud market in India at $400 million. A survey by Microsoft and IDC said the segment will create more than two million jobs in India, or 15 percent of the total new jobs expected worldwide. Small and medium businesses will generate more than 50 percent of these jobs. Revenues from cloud innovation could hit $1.1 trillion per year by 2015, the study estimated. Source : 05-04-12 Deccan Herald Compiled by Amresh Anjan FMS Beats Slowdown Blues With 100% Placements Delhi-based Faculty of Management Studies (FMS) announced 100 percent placements this year, a sign that it has weathered the slowdown well. The campus saw more than 100 companies looking to recruit from its largest-ever batch of 227 students. Of these, 96 recruiters made final offers. About 26 percent of the students opted for finance across functions such as investment banking, corporate finance and risk management, among others. Citibank and Deutsche Bank made six offers each. Consultancies such as Aon Hewitt, Bristlecone and Accenture Management Consulting, among others, recruited more than one-fifth of the students. More than 40 percent of students opted for marketing. Media and manufacturing sector picked up 3 percent and 2 percent of the lot. Jindal Steel and Power, Mahindra & Mahindra, Punj Lloyd and RPG were among the big corporate names that participated. Source : 02-04-12 Hindu Business Line Compiled by Amresh Anjan |
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