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Pharma hiring may remain flat in H2 |
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| Driven by bleak market sentiments and recent policy changes, pharma companies are adopting a cautious approach to hiring in the second half of the year. Ms. Sumeet Singh, senior vice-president, marketing and communications, Info Edge India said "Although the overall hiring activity in the pharma sector has been moving at a steady pace in the first half of the year, recruiters are now preferring to adopt a cautious wait and watch mode in the coming quarters". The new drug pricing policy has been recommended by the Group of Ministers (GoM) proposes to control the prices of essential drugs using a weighted average price (WAP) of all brands with a market share in excess of one per cent. According to rating agency ICRA, "While the exact impact of the new pricing policy will depend on multiple factors, we believe that the impact of new pricing mechanism is likely to result in 10-15 per cent reduction in prices, thereby implying an erosion of 3-5 per cent in market size of the domestic formulations market." A recent Naukri.com survey with recruiters from the pharma sector revealed a drop in overall hiring sentiment. It said that around 51 per cent recruiters are expecting to add new jobs in the second half of 2012 which is 16 per cent lower than what was predicted by them in January-2012 survey. The survey also added that now around 11 per cent recruiters in the pharma space are saying that hiring will come to a halt in the next six months. |
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| Source : 11-10-12 Business-standard.com Compiled by Amresh Anjan |
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| Alcatel-Lucent to cut 5490 jobs globally |
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| Telecom equipment maker Alcatel-Lucent has said that it plans to cut a total of 5,490 jobs worldwide as part of a cost-cutting drive unveiled in response to sliding profits. The job losses, from a total workforce of 78,000, are designed to help Alcatel trim 1.25 billion Euros ($1.6 billion) from its annual costs by the end of 2013. Since Alcatel and Lucent merged in 2006, the group has carried out several restructuring plans that included heavy job losses. In 2006, the company eliminated 20,000 positions worldwide, followed a year later by 12,500, union sources said. |
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| Source : 19-10-12 NDTV Compiled by Amresh Anjan |
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| Vikram Pandit exits Citi, but golden parachute is missing |
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| Vikram Pandit may leave Citigroup Inc without a rich exit package, compensation experts said, although final terms of his departure likely will not be known for several days. Pandit, who stepped down as chief executive of the bank on Tuesday is not eligible for a "golden parachute" - a pre-negotiated severance payout - according to Citigroup's recent annual proxy filing. Still, as is typical in departures of high-profile CEOs, the company may end up hammering out a financial arrangement with Pandit that would include agreements not to disparage or compete against the bank, executive pay experts said. Pandit's pay has riled many Citigroup shareholders, who rejected his proposed annual compensation in a non-binding "say on pay" vote earlier this year. The Citigroup board is likely feeling pressure to rein in any further payouts to Pandit, said Mark Borges, a compensation consultant with pay consultancy Compensia. The company declined to comment on financial terms of Pandit's departure, and he did not immediately respond to requests for comment. Pandit arrived at the bank in 2007 with a deal of $165 million. He accepted a $1 salary starting in 2009, after the financial crisis that led to a government bailout of the bank. After Citigroup repaid the bailout funds, his annual salary jumped to $1.7 million in 2011. He was awarded a bonus, options and other payments that year potentially worth about $13.2 million. Pandit holds bundles of Citigroup stock options, but the bank's languishing share price has left many of them worthless. He has no pension plan, and leaves with $21.5 million in stock he owns. Under a separation plan, the bank could allow Pandit to accelerate his options, receive payments under the long-term incentive plan or negotiate a pro-rated 2012 bonus. |
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| Source : 17-10-12 Hindustantimes.com Compiled by Amresh Anjan |
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| GM to shift 3,000 Hewlett jobs to its payroll |
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| General Motors Co will shift 3,000 Hewlett-Packard Co employees to its payroll as part of a sweeping program to overhaul the automaker's information services. Most of the new employees are located in the United States. The two companies declined to provide the value of the contract. They said an unspecified number of HP employees will remain at the computer-services company to work on the GM business. Over the past two months, GM had said it will hire 2,000 workers to staff new IT centers in Austin, Texas, and Warren, Michigan, with plans to open two additional centers in the United States. |
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| Source : 19-10-12 Reuters.com Compiled by Amresh Anjan |
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| Hero Moto Corp unions ask for more |
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| The labour union at Hero MotoCorp is said to be pushing for a wage increase following Maruti Suzuki India's announcement of hikes at its Gurgaon plant. Industry observers said the final three-year wage settlement is expected to be ratified by both parties around Diwali. Hero being the industry leader, the workers are hoping the management will match the trend set by other major auto manufacturers. The union at Honda Motorcycle's plant at Manesar is also negotiating a wage agreement. It has reportedly demanded wage hikes of up to Rs 15,000, along with free housing and interest-free loans. Maruti Suzuki announced a hefty 50 percent wage hike for its Gurgaon plant workers in September, also to be offered at Manesar. The move was perceived as a morale booster for the workers, coming a month after resumption of work at Manesar. |
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| Source : 18-10-12 Financial Express Compiled by Amresh Anjan |
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| A study by Aspiring Minds says only 10% fresh MBAs employable |
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| An Aspiring Minds survey found only 10 percent of management graduates to be employable. This is particularly true of graduates in the fields of HR, marketing, finance and HR, according to the National Employability Report by Aspiring Minds. Varun Aggarwal, COO and CTO, said there was an urgent need to assess whether graduates being trained were industry-ready. While the focus on capacity building had increased, a similar emphasis on building up employability was missing. Employability of MBA graduates stood at 2.52 percent in business consulting, and just 7.98 percent for the analyst function, the report said. In corporate sales (B2B) it was 10.56 percent and was almost half of that in consumer (B2C) sales (21.72 percent). For customer service roles, it was only 16.01 percent. The survey covered 32,000 MBA students of the class of 2011. |
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| Source : 17-10-12 Hindu Business Line Compiled by Amresh Anjan |
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| Richard Rekhy, new CEO of KPMG India |
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| Richard Rekhy has been appointed as the new CEO of KPMG India succeeding Russell Parera who led the firm for six years. Rekhy has been with KPMG India for more than eight years and has held many leadership positions in the firm. In his previous role as the head of advisory at KPMG India, he successfully led the advisory practice making it one of the biggest advisory practices in the country and also within the global KPMG network. |
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| Source : 15-10-12 Hindu Business Line Compiled by Amresh Anjan |
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| Yahoo CEO raids Google to hire top lieutenant |
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| Yahoo CEO Marissa Mayer has lured away one of Google's top advertising executives to help engineer a turnaround at Yahoo. Henrique de Castro is leaving Google to become Yahoo's chief operating officer in early next year. The surprise move is Mayer's highest profile hiring since she left Google in July to run Yahoo. |
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| Source : 17-10-12 Hindustantimes.com Compiled by Amresh Anjan |
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| ONGC looking to hire RIL's unutilized facilities |
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| Oil and Natural Gas Corp (ONGC) is in talks to hire Reliance Industries ' unutilized production facilities on the east to quickly bring to production its gas find in the Krishna-Godavari basin. ONGC has made nine gas discoveries in its KG block KG-DWN-98/2, which sits next to RIL's flagging KG-DWN-98/3 or KG-D6 block. It plans to club these finds with discoveries in another neighboring block to begin gas production from 2016-17. |
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| Source : 21-10-12 Moneycontrol.com Compiled by Amresh Anjan |
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| Retail outlets hiring differently-abled |
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| Celebrity hair stylist Jawed Habib is launching a new format salon, Hair Yoga, this Diwali but with a difference. The hair and head massage salon will only employ persons with disabilities (PWDs).Hair Yoga has tied up with the New Delhi-based non-governmental organisation Sarthak Education Trust, which works towards providing education and employment to differently-abled people."We already have about 5-6 PWDs working for us in our Jawed Habib salons. With Hair Yoga, the numbers are bound to go up. We need to identify their talent and train them accordingly," Mr. Habib said. With the retail sector getting organised, the need for trained workforce is rising. Currently, the sector employs about 33 million people and is likely to add a similar figure over the next decade, according to industry experts. However, retailers are facing a severe challenge in getting good talent, and are zeroing in on persons with different abilities. |
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| Source : 19-10-12 Thehindubusinessline.com Compiled by Amresh Anjan |
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| Expedia opens R&D centre in India, to hire 300 people by year-end |
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| Online travel agency Expedia is setting up a research & development centre in Gurgaon as part of its overall expansion plan in the country. The company will also hire 300 people by year-end to ramp up its India operations. Mr. Edmond Mesrobian, chief technology officer of Expedia, Inc., said, "India is of strategic importance to us and offers us access to a pool of technology talent. We are bullish on the long-term potential of the market and are expecting to hire 300 resources before the end of the year. "The new development centre will be instrumental in creating travel apps for both local and global markets. With this initiative in place, India will be the only other location besides Bellevue (US) where the Expedia Group will work on solutions across all brands and platforms. Mr. Vikram Malhi, the India head of the OTA, said, "Expedia has seen tremendous success in the Indian market over the last three years. The new technology centre being set up in Gurgaon will be the platform for taking our engagement in the Indian market to the next level." |
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| Source : 19-10-12 Techcircle.vccircle.com Compiled by Amresh Anjan |
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| TCS to keep hiring, apply for more H1 visas |
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| Tata Consultancy Services, the country's largest software exporter, has made a net addition of 10,531 employees in the second quarter ended September 2012. Net addition is the difference between total employees hired and attrition. The IT major made a gross addition of 18,654 employees in the June-September quarter, taking its total headcount to 2, 54,076 personnel. Mr. Ajoy Mukherjee, Global Head of Human Resources at TCS, said the company would be applying for more H1 visas (job visas) and would continue hiring both in the domestic and overseas markets. "We plan to hire 25,000 freshers from campuses and have already finished hiring half of this number," said Mr. Mukherjee. The company reported the lowest attrition rates in the last 10 quarters at 11.4 per cent (IT and BPO business). The software firm expects to add 50,000 employees in the current financial year. |
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| Source : 19-10-12 Thehindubusinessline.com Compiled by Amresh Anjan |
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| Temporary staffing to soar in India: US firm |
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| Temporary staffing is fast emerging as a key hiring strategy for Indian companies and the segment is poised for strong growth over the next five years, an industry official has said. "Temporary staffing is fast emerging as a key hiring strategy for Indian companies. The Government should give proper recognition to the staffing industry," said Mr. Mehul Shah, Managing Director and Head of Professional Services (India and the Asia-Pacific) of Collabera. The US-based Collabera offers temporary staffing solutions for IT/ITeS firms. Collabera has opened an office in Vadodara for carrying out its Indian operations and employs about 1,000 persons here. At present, the IT staffing industry is an Rs 1,200-crore market and it will expand rapidly over the next five years, Mr. Shah told press persons here yesterday. Mr. Shah, whose firm is a member of the Indian Staffing Federation (IFS), said the staffing industry is growing at 35-45 per cent despite the economic downturn in India. The industry provides a platform for recognized employment, work choice, compensation, annual benefits and health benefits for the temporary workforce that constitutes almost 90 per cent of India's total workforce, he said. Mr. Shah said he will soon make a request to Finance Minister P Chidambaram to exempt the staffing industry from paying service tax. |
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| Source : 18-10-12 Firstpost.com Compiled by Amresh Anjan |
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| Infosys hires ex-defence personnel in US to win govt orders |
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| Infosys, India's second largest IT services company is banking on ex-defence personnel in the US to staff its subsidiary which works in the highly-sensitive government and healthcare segments in the country. Majority of the employees of Infosys's US subsidiary, Infosys Public Services, are ex-army and marine personnel who help in enhancing the credibility to bag projects sponsored by the national and state governments in the US. They also help the company in getting various security clearances faster what civilians might find quite difficult. While all the employees of Infosys Public Services are based out of the US, a significant chunk of them are ex-military personnel. They get security clearances required to work for various government projects faster than normal civilians even though we don't do any defence works in the US," said Mr. Ashok Vemuri, Head of Americas who is also in the board of Infosys Public Services. For example, Mr. Eric Paternoster, CEO and President of Infosys Public Services (IPS) is a former Army captain who led infantry units in Korea and the US before joining the corporate world. Infosys Public Services (IPS) was set up as a subsidiary of the Bangalore-based company in late 2011. However, the subsidiary started hiring and ramping up only towards the beginning of the fiscal year after obtaining the necessary approvals from the US government. The company which employs about 200 people has signed about 40 contracts with the US government and federal states in a span of just eight months. |
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| Source : 22-10-12 Business-standard.com Compiled by Amresh Anjan |
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| GM Plans to Hire 3,000 HP Employees as It Insources IT Work |
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| HP has agreed to transfer 3,000 of its employees to the General Motors payroll, as the automaker moves IT operations in-house, the two companies announced Thursday. GM CIO Mr. Randy Mott said the car company hopes to add the HP workers, part of a team running GM's IT operations under outsourcing contracts, over the next six months. Mr. Mott, named CIO of GM earlier this year, decided early on in his tenure to bring most of the automaker's IT work in-house, a major shift for a company that has long relied on outsourcers. |
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| Source : 30-11-99 Computerworld.in Compiled by Amresh Anjan |
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