In a significant decision, government has approved the proposal for bringing businesses with ten or more employees under the realm of Employee's Provident Fund (EPF). Earlier, the limit was of twenty or more workers. There has been no decision on revising the rate of interest of the EPF corpus fund for the year 2008-09. Under the new decision, any business with ten or more employees will have to deduct EPF and make a matching contribution.
Source: 05-07-08 www.ptinews.com Compiled by Amresh Anjan
Naukri.com Revamps The Recruiter SectionNaukri.com has revamped the recruiter section to ensure easy navigation, increased efficiency and better productivity. Given below are some of the features that have been incorporated in the revamped site.
- > New contemporary user interface and seamless contact flow
- >Easy Navigation achieved through one click access to the most relevant and frequently used features
- > Clutter-free inbox with new response filters to ensure only relevant CVs in the recruiter’s inbox
- > Customizable search settings, improved save search features and an easy contact flow
- > Faster job posting with a short, one-page form
- > Quicker short-listing of candidates through regular CV alerts
Source: 11-07-08 Our Bureau Compiled by Amresh Anjan
Innovative Way To Hunt For A Job After a prolonged failure to secure a job on Wall Street, Mr Joshua Persky took to the streets of New York handing out résumés to passers-by and wearing a sandwich board that said, ‘Experienced M.I.T. Grad for Hire’. The placard carried his name and contact information. He stood on a busy spot and grabbed the attention of thousands who passed him every hour. The gimmick hasn’t got him a job yet but he has become famous overnight with various news channels interviewing him and the story carried in newspapers across the world. His situation is symbolic of the crisis that banks and securities firms are facing with banks cutting more than 80,000 jobs. Mr. Persky has received a few job interview calls since. However, he has also received hate calls from various quarters saying that he has demeaned MIT’s reputation.
Source: 05-07-08 www.nytimes.com Compiled by Amresh Anjan
Developing Countries Paying Govt Staff More Than They Can AffordAccording to a study by the Asian Development Bank (ADB), many developing countries such as India and Bangladesh are paying higher salaries to their state employees than they can afford. In the process, the countries are stunting economic growth. The study conducted over 19 Asian, African and Latin American countries concluded that higher the relative government pay rates, the lesser the economic growth attained. The study added that high government pay leads to far less employment in government, and the creation of a group of unemployed labour in search of government employment.
Source: 08-07-08 www.livemint.com Compiled by Amresh Anjan
Accenture India Unit Set To Cross More Than Half The Global HeadcountCurrently pegged at 35,000, the headcount at Accenture’s outsourced services network (the Global Delivery Network) in India is soon poised to cross the 50 per cent mark. Thus, half of the world-wide work-force in the key unit will be based in India. Presently, it has about 77,000 people working across 53 countries. GDN has call centres and business process outsourcing (BPO) workers and is like a company within the company. Other than Accenture, the Indian headcount of IBM Global Services will also touch the half-way mark soon.
Source: 10-07-08 Hindustan Times Business Compiled by Amresh Anjan
Of All Jobs, Headhunters Doing Extremely WellWhether it is lay offs or rising attrition, headhunting firms are never out of work. Growing economy has led to a rapid job creation in India which in turn has led to a phenomenal rise in the number of headhunters in India. There are many national and international firms that are opertaing in India and many more are coming up. For instance, new companies on the block include start ups and leading global search firm Russell Reynolds Associates Inc. Two other global executive search firms—CTPartners and AT Kearney Executive Search, now Edward W. Kelley and Partners Ltd—are planning to start operations in India.
Source: 07-07-08 www.livemint.com Compiled by Amresh Anjan
S African Health Care Companies Recruit 350 Indian NursesFacing a crunch of medical staff, three major South African health care firms have hired more than 350 Indian nurses to work in the country. The companies, Netcare, Medi-Clinic and Life, are planning to recruit even more staff from India. Netcare interviewed more than 900 nurses from south India. It would recruit more nurses next year. Life Group of Hospitals has already placed 23 nurses from India in various hospitals. It would run another recruitment drive in October. South Africa is currently reeling under a shortage of 40,000 to 50,000 nurses.
Source: 09-07-08 www.livemint.com Compiled by Amresh Anjan
India Inc Pitching In To Create Employable ManpowerThreatened by the rising skill shortage in the manufacturing sector, large corporations are now adopting existing, but mostly defunct, Industrial Training Institutes (ITIs). The idea is to create a skilled and trained manpower that can hit factory floors and answer the staff crunch. Companies such as Apollo Tyres, Asian Paints, Wockhardt, Videocon, India Cements, JSW Steel, Indo Rama and Finolex Cables are among those that have signed agreements with ITIs. The Federation of Indian Chambers of Commerce and Industry (FICCI) is also taking steps to adopt, manage and operate industrial training institutes (ITIs) and vocational educational institutes. FICCI may pump in up to Rs 1,000 crore in ITIs over the next three years. There are more than 5,000 ITIs and vocational training institutes run by central and state governments but most of these either face faculty shortage or have an obsolete curriculum.
Source: 08-07-08 in.news.yahoo.com Compiled by Amresh Anjan
Centre To Introduce Telephone Banking For NREGS WorkersTo address the issue of irregular wage payment to beneficiaries in far off areas, the Centre intends to introduce telephone banking facility for workers under National Rural Employment Guarantee Scheme (NREGS). The government has already started making payments through banks and post offices. The Department of Financial Services (DFS) will facilitate the process of payment of wages through bank accounts and promote branchless banking through mobile phones in remote rural areas. The banks will be asked to support initiatives like Smart Cards and other technological interventions for the same.
Source: 07-07-08 The Financial Express Compiled by Amresh Anjan
ICICI Bank Slashes Bonus For Top Brass ICICI Bank Ltd, India’s largest private sector lender, has slashed the performance bonus for its top brass, including Mr K.V. Kamath, Managing Director and Chief Executive Officer; Mr Chanda Kochhar, Joint Managing Director and Chief Financial Officer; and Mr V. Vaidyanathan, Executive Director. Mr Kamath’s performance bonus dipped by 22.49% while for Ms Kochhar, the drop is 16.88% and for Mr Vaidyanathan it is 5.5% drop. ICICI Bank reported a 34% growth in its net profit for the year ended 31 March but the bank’s shares have fallen close to 52%. The bank’s bad loans have increased to Rs 5,552 crore from Rs 3,114 crore in the previous year.
Source: 08-07-08 www.livemint.com Compiled by Amresh Anjan
Exodus At The Top Level At Toyota Kirloskar There has been a surge in the number of exits of senior level executives at Toyota Kirloskar Motor (TKM). According to reports, about seven senior and middle level managers have left TKM to join rival companies such as General Motors, Ford, Mahindra & Mahindra, and others. The most prominent departure has been that of Deputy Managing Director Mr K K Swamy, who quit last month to join Volkswagen India as its first Indian Managing Director. Others include Mr Kamalakar Takawale, head of product design and development, who has also joined Volkswagen India and Mr Vikas Jain, former sales Deputy General Manager (north), who moved to General Motors. Mr Shohanlal Maine, General Manager (production), has moved to Mahindra & Mahindra. Other top level exits include Mr Debashis Mitra (DGM sales) and Mr Santosh Iyer, who handled advertising for TKM.
Source: 08-07-08 www.business-standard.com Compiled by Amresh Anjan
GM To Cut Thousands Of White-Collar JobsAccording to reports by The Wall Street Journal, the US automaker General Motors is planning to cut thousands of white-collar jobs and is mulling to sell or stop production of more of its brands. The steps are part of the broader plan to meet an internal projection of returning to profitability in 2010. The brands likely to be dropped include Buick, Saturn and Saab.
Source: 07-07-08 www.dnaindia.com Compiled by Amresh Anjan
It’s Official! Siemens To Trim 16,750 Jobs Globally In a bid to cut costs by nearly $2 billion and streamline operations, the industrial conglomerate Siemens AG is set to cut 16,750 jobs, which is around 4.2 percent of its global work force. The cuts would include 12,600 administrative positions and another 4,150 jobs involving restructuring projects at its various units. Worldwide, the company has a work force of approximately 400,000 people.
Source: 08-07-08 www.msnbc.com Compiled by Amresh Anjan
In UK, Bosses Afraid To Take Holidays The job scenario has been so bleak in the United Kingdom that bosses are afraid of going on vacation lest they lose their job. According to a research by the Chartered Management Institute, one in four refused to use their full entitlement this year. The institute questioned junior and senior managers who confessed their holiday paranoia has been fuelled by redundancy rates doubling over the past year. Also, 37 per cent of managers wanted to exchange unused holiday time for cash, indicating a credit crunch.
Source: 06-07-08 www.dailymail.co.uk Compiled by Amresh Anjan
Senior UB Official ResignsMr Prakash Mirpuri, Senior General Manager, Corporate Communications of the Vijay Mallya-led United Breweries Group, has quit the organization. The reasons for his resignation are not known. His plans for the future are undisclosed. Accordinf to sources, Mr Mirpuri put in his papers because he felt his potential was being under-utilised at the group.
Source: 11-07-08 Business Standard Compiled by Amresh Anjan
Parsvnath SEZ Appoints New JMDParsvnath Developers has hired Mr S P Aggarwal as Joint Managing Director for its subsidiary Parsvnath SEZ. Prior to his new assignment, Mr Aggarwal worked with DLF Home Developers as Executive Director.
Source: 11-07-08 Business Standard Compiled by Amresh Anjan
YOU Telecom Gets New HR HeadCitigroup-owned triple play service provider YOU Telecom has hired Mr Kishore Velankar as the national head of Human Resources. Prior to joining YOU Telecom, Mr Velankar was working with KPO firm Integreon Managed Solutions as Global Senior Vice-President (Human Capital Management). He has held several HR positions at Tata Infotech, Mahindra British Telecom and Datacraft India Ltd.
Source: 09-07-08 Hindu Business Line Compiled by Amresh Anjan
Moschip Appoints Mr Kalyanasundaram As CFOMr Sathya Kalyanasundaram has been appointed as the Chief Financial Officer of Moschip Semiconductor Technology Ltd. Before joining Moschip, he was CFO of Alliance India and Vice-President of its global operations.
Source: 09-07-08 Hindu Business Line Compiled by Amresh Anjan
Apple Gets New VP For Mac Hardware Engineering GroupApple Inc has roped in Mr J. Douglas Field as Vice-President in the Macintosh Hardware Engineering Group. Mr Field joins Apple from scooter maker Segway Inc where he served as Chief Technology Officer.
Source: 09-07-08 Hindu Business Line Compiled by Amresh Anjan
New Director At The Facebook Board Mr Marc Andreessen, the founder of Netscape, has joined the Board of Facebook. The board includes Facebook founder and CEO Mr Mark Zuckerberg and venture capitalists Mr Jim Breyer and Mr Peter Thiel. Mr Zuckerberg has welcomed Mr Andreessen on the board and hopes his experience is relevant to Facebook in more ways than one.
Source: 07-07-08 www.alootechie.com Compiled by Amresh Anjan
Mr Pradeep Guha Resigns As CEO At ZeeMr Pradeep Guha has quit Zee Entertainment Enterprises Ltd as Chief Executive Officer. Mr Punit Goenka, Network Operating Officer and a member of the Board of Directors, will replace him as CEO. Mr Guha’s concrete future plans are undisclosed but he will go on to take up entrepreneurial responsibilities. Prior to joining Zee in January 2005, he worked with Bennett, Coleman and Co. Ltd for nearly three decades.
Source: 08-07-08 www.livemint.com Compiled by Amresh Anjan
NDTV Convergence Hires Mr Arunava Sinha As Chief Product OfficerNDTV Convergence Hires Mr Arunava Sinha As Chief Product Officer
Source: 08-07-08 www.alootechie.com Compiled by Amresh Anjan
Mr Sameer Kapoor Is New NDTV CEO Mr Sameer Kapoor has been appointed by NDTV as Chief Executive Officer of its Hindi news channel, NDTV India. Prior to this assignment, he was the President of the Metropolitan Media Company, the joint venture between the Times Group and HT Media.
Source: 07-07-08 Business Standard
Compiled by Amresh Anjan
