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| IPO makes more than 1,600 Twitter staff millionaires |
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| The US tax department is in for a major windfall from Twitter's blockbuster initial public offering, which has made 1,600 of its employees millionaires. They will together pay an estimated $2.2 billion (about 13,800 crore) in taxes, according to a report by US-based PrivCo, a provider of business and financial research on major privately-held firms. It said Twitter's fantastic public debut on New York Stock Exchange last week, added as many as 1,600 of its employees to the US millionaire club. "With an 8% tax rate in California and a 32% tax rate at the federal level, Twitter's newly-minted millionaires face a tax bill of $2.2 billion," PrivCo said. "Twitter's IPO will have far-reaching implications for everything from Silicon Valley real estate prices to new start-ups that will be formed by the 'Twitter Mafia' — new angel investment capital now available for other new business ventures," PrivCo said. "The addition of 1,600 new millionaires to California's tax base will also bode well for the state's budget crisis," it added. |
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| Source : 17-11-13 Hindustan Times Compiled by Amresh Anjan |
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| Campus hiring to see a slower pace in 2014: says Firstnaukri survey |
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| With the onset of the hiring season in campuses in India, Firstnaukri.com's survey with more than 115 recruiters reveals that there will be an overall decline in campus hiring in 2014. Out of the total recruiters surveyed, 73% said that the number of students to be hired from campuses will be lower in 2014 as compared to 56% in 2013. As many as 44% recruiters who hire engineers expect a decline in hiring in 2014 as compared to 50% who echoed a similar sentiment in 2013. When we asked recruiters, who hire MBA students, all of them said that they will visit fewer campuses and will hire lower number of students this year. |
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| Source : 11-11-13 Financialexpress.com Compiled by Amresh Anjan |
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| Late to work? You may be fired: Survey |
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| Arriving late is not the norm for workers and employers alike, but according to a survey 42% of employers in the country seem to have fired an employee for being late, the highest in the world. According to a survey by CareerBuilder, among the nine surveyed countries, India is the strictest when it comes to tardiness; Brazil came in second, a distant 16% behind, where 26% of employers have fired a staff for coming late. Commenting on the findings, CareerBuilder India Managing Director Mr. Premlesh Machama said most bosses understand when your alarm doesn't work or you get stuck in traffic. "Tardiness is a problem when it becomes a habit and your boss can't rely on you to be on time. On the rare occasion that you are running late, let your employer know as soon as possible. Then ensure that it doesn't happen again," he added. Echoing similar sentiments, Unison International MD Mr. Udit Mittal said: "When it comes to employee work place satisfaction, it is important for them to get leverages at times but not always. If this becomes a habit, it can turn out to be really worst or may be firing the employee." France and Russia shared the third place where 22% bosses said they had fired staff for coming late. |
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| Source : 17-11-13 Business-standard.com Compiled by Amresh Anjan |
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| US jobs growth accelerates |
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| US job growth unexpectedly accelerated in October as employers shrugged off a partial government shutdown, suggesting the economy was on a firm footing and raising the prospect the Federal Reserve may soon decide to temper its bond-buying stimulus. Employers added 204,000 new jobs to their payrolls last month and 60,000 more jobs were created in September and August than previously reported, said the Labor Department. The unemployment rate however rose to 7.3 percent last month from September's nearly five-year low of 7.2 percent as federal workers were idled. |
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| Source : 09-11-13 Business-standard.com Compiled by Amresh Anjan |
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| BlackBerry new CEO to get $1 mn basic pay, $2 mn bonus |
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| Smartphone maker BlackBerry has offered basic salary of $1 million and performance bonus of $2 million apart from other perquisites in remuneration package to its new CEO Mr. John S Chen. "BlackBerry will enter into an employment agreement with Mr Chen. His remuneration will include base salary of $1,000,000 and performance bonus of $2, 000, 000," BlackBerry said in its regulatory filing. |
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| Source : 09-11-13 Indianexpress.com Compiled by Amresh Anjan |
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| Bosch shuts Bangalore unit due to strike |
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| Auto parts maker Bosch Limited today said the company has shut operations of its Bangalore plant due to a "tool-down strike" by some workers at the facility from yesterday. "Workmen of the company's Bangalore plant have resorted to a tool-down strike with effect from 14 November without giving any prior notice to management," Bosch Ltd said in a filing to the Bombay Stock Exchange. "In view of the union's illegal and unjustified strike, the management has decided to shut down the plant operations for workmen at Bangalore plant with effect from the night shift of 14 November until further notice," it said. "Efforts are on to resolve the matter and restore normalcy at the earliest", it said. Auto parts maker Bosch Limited today said the company has shut operations of its Bangalore plant due to a "tool-down strike" by some workers at the facility from yesterday. "Workmen of the company's Bangalore plant have resorted to a tool-down strike with effect from 14 November without giving any prior notice to management," Bosch Ltd said in a filing to the Bombay Stock Exchange. "In view of the union's illegal and unjustified strike, the management has decided to shut down the plant operations for workmen at Bangalore plant with effect from the night shift of 14 November until further notice," it said. "Efforts are on to resolve the matter and restore normalcy at the earliest", it said. |
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| Source : 16-11-13 The Statesman Compiled by Amresh Anjan |
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| Wipro appoints Mr. Ulrich Meister as Continental Europe Business Head |
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| India's third largest outsourcer Wipro appointed Mr. Ulrich Meister as senior vice president and head of its Continental Europe business, the company said. Mr Meister will be based in Frankfurt and report to Wipro's chief executive Mr. TK Kurien. Mr Meister joins Wipro from T-Systems, where he was responsible for their global 2 billion euro system integration business. He has also held leadership positions with Deutsche Bank and Landesbank Hessen-Thuringen in the past. In his new role, Mr Meister would have the charter to define strategy for each of the markets within Continental Europe and grow the business, Wipro said. |
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| Source : 16-11-13 Profit.ndtv.com Compiled by Amresh Anjan |
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| At- desk meal makes you fat |
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| Another reason to take a real lunch break: a new poll finds that people who regularly eat at their desks consume more calories and snacks than those who dine outside the confines of their office. According to a poll from Forza Supplements, more than a third of workers who "dined al desko" ate more than 1,200 calories during a typical working day. Workers who sat in front of their computers during lunch were more likely to eat fattening foods, down caloric coffee drinks, and grab snacks from the office vending machine later in the afternoon, the findings showed. "The whole way we work is changing so fast," said Forza Supplement managing director Mr. Lee Smith. "Gone are the days when we would go out for lunch and socialize with workmates." "More of us are office-bound and slaves to our computers. Unfortunately that is very bad news for diets because we haven't got the time to seek out healthier, less calorific foods." People are giving themselves these treats as rewards when they do something well at work or to break the daily routine. |
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| Source : 18-11-13 Hindustan Times Compiled by Amresh Anjan |
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| TCS sets up 10,000-seater campus in Gandhinagar |
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| The country's largest software services firm Tata Consultancy Services inaugurated its 10,000-seat campus at Gandhinagar. The software development facility, inaugurated by Gujarat Chief Minister Narendra Modi, has been developed over 25.5 acres, with a built-up area of 1.6 million sq ft, TCS said in a statement."TCS has played a pioneering role to make Gujarat an attractive IT destination for global companies and also helped drive technology-led growth by investing in talented youth of the state and building long-term partnerships with state institutions," TCS CEO and MD Mr. N Chandrasekaran said. This centre will help TCS scale up its presence and drive the expansion of the IT industry in Gujarat, he added. The new centre has been developed as a 'green' campus and has applied for a LEED (Leadership in Energy and Environmental Design) Gold rating. |
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| Source : 16-11-13 Financialexpress.com Compiled by Amresh Anjan |
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| The gender divide in the Indian labour market |
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| One of the biggest shifts in the Indian labour market has been the dramatic withdrawal of women workers in the past few years. India's female labour force participation rate, or the proportion of women who opt for work, fell nearly seven percentage points to 22.5% between 2004-05 and 2011-12. Low female labour participation rates have been a structural problem in India for long but the recent decline means the country has among the lowest proportions of working women. India ranks 10th from the bottom among countries ranked according to their female labour force participation rate, World Bank data show. The greatest withdrawal of women from the labour force occurred in rural areas, and was largely in agriculture. The withdrawal is all the more surprising as it has occurred during a period of sharp rise in wages that women earn. The gender gap in wages of casual labourers declined nearly six percentage points between 2004-05 and 2011-12 to 31%. |
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| Source : 18-11-13 Live mint Compiled by Amresh Anjan |
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| Canada outsourcing row may hit Indian IT |
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| Tata Consultancy Services Ltd , Infosys Ltd and iGATE Corp. , which are facing a political backlash in Canada on concerns that jobs are being shipped overseas, may have to wait till at least the middle of 2014 before top banks and financial services firms in the north American nation decide on farming out work to Indian software services providers, experts say. Canada's top five banks— Royal Bank of Canada (RBC), Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal and the Canadian Imperial Bank of Commerce—and other financial services firms are under pressure to create more jobs in the country amid rising unemployment rates, according to people familiar with the development. "Offshoring is a politically sensitive and is not a popular issue in Canada right now. In the minds of the voters, elimination of a job through cost cuts is different from Offshoring a job to a third-party location, like India or Philippines," said Mr. Ben Trowbridge, chief executive of Dallas, Texas-based outsourcing advisory firm Alsbridge Inc. "If the unemployment rate comes down, then it might become less of a political issue to outsource more." |
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| Source : 17-11-13 Live mint Compiled by Amresh Anjan |
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| Leadership programme at IITM |
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| Indian Institute of Technology Madras is all set to offer its unique postgraduate programme for executives, Visionary Leadership in Manufacturing (VLM). The initiative is a unique tripartite national-level leadership-building programme in India involving industry, academia and the Government. PGPEX-VLM is a one-year Executive MBA programme jointly offered by IIT Madras, IIT Kanpur and IIM Calcutta, and it focuses on developing leaders for global manufacturing operations by training them on the best paradigms of technology and management. Elaborating on the details of the programme, Dr. Venkatesh Balasubramanian, Associate Professor, Department of Engineering Design, says that the manufacturing sector in India is facing a crisis in terms of the limited supply of manpower at an appropriate skill level. Also the available engineering talent pool is shrinking both in quality and quantity. "The reason for the decline in mid-level leadership in manufacturing is due to manpower migration to Information and Communication Technology jobs that provide higher pay," says Dr. Balasubramanian. |
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| Source : 17-11-13 Thehindu.com Compiled by Amresh Anjan |
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| Air India employees demand revocation of suspension of crew members |
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| A large number of Air India employees, including cabin crew, ground handling staff and loaders, on staged a demonstration at the airport here to press for their demands, including revocation of suspension of some cabin crew members. Flight operations were not affected at all, an Air India spokesperson said, as the protestors, under the banner of unions affiliated to Shiv Sena's Bharatiya Mr. Kamgar Sena, gathered at the domestic airport and staged a noisy demonstration. Their demands also included withdrawal of show-cause notices to about 40 cabin crew members and hiring of more such crew to meet the shortage. |
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| Source : 12-11-13 Indianexpress.com Compiled by Amresh Anjan |
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| Government keen to stop bias against minorities in private sector jobs |
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| The government is set to introduce a bill to create the Equal Opportunities Commission for the welfare of minorities in the Winter session of Parliament and the new entity's ambit has been widened to cover the private sector. This means that socially and economically backward members of minority religions will be able to go to the Commission in complaint if they feel they have been deprived of a job, or of a seat in an educational institution, on the grounds of their belief, and this will include private sector companies and colleges. The law ministry gave its blessing to the potentially controversial proposal by the minority affairs ministry late last week, clearing the way for the Congress-led UPA government to fulfil a promise made in its 2009 election manifesto a few months before it heads into another general election. The Winter session of parliament starts on December 5. |
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| Source : 19-11-13 Hindustan Times Compiled by Amresh Anjan |
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| Lack of Movement on Immigration Reform Helps Indian IT Industry |
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| The Indian information technology industry, steadfastly opposed to an immigration reform bill passed by the US Senate this past June, maybe finally getting its wish. It appears increasingly unlikely that the House of Representatives will vote on the Border Security, Economic Opportunity, and Immigration Modernization Act of 2013, before the end of the year. The bill-known as the "Gang of Eight bill," referring to a bipartisan group of senators that drafted the bill-proposes to provide pathways to citizenship to more than 11 million undocumented immigrants currently living and working in the United States. But it also contains several punitive measures against the Indian IT services industry, even as it raises the annual H-1B visa cap from 65,000 to roughly 180,000. The bill would require IT companies that are dependent on H-1B and L1 visas to pay higher fees for their visas, discouraging the hiring of highly skilled employees from countries like India. |
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| Source : 12-11-13 Ibtimes.co.in Compiled by Amresh Anjan |
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