Companies to face difficulties in retaining and hiring

Mumbai: The companies which took harsh measures such as layoffs and pay cuts during the economic slowdown should be prepared to face major difficulties in hiring and retaining staff as growth gets back on track, reports The Economic Times. Employee churn has picked up in the past three months in several businesses and Human Resource (HR) experts said how companies treated staff during the tough times would be a key determinant of attrition levels and the base of employer employee relationshi...
Submitted by Badri | Rated 0

More projects, but no hike in salary for lower level executives

Bangalore: Tough times call for tough measures, and as a result of it, most of the MNCs hung the axe on lower and middle level staffs than top level management at the time of crisis. The current global slowdown, the worst economic crisis after `The Great Depression` of 1929, forced around 94 financial institutions to shut their operations in the U.S. and at the same time more than 20,000 IT professionals have been laid off by various IT firms in India to cut their operational cost and survive in...
Published about 05-11-2009 | Rated 0

Microsoft 5,000 job cuts go up to 5,800

Microsoft Corp said on Wednesday it is cutting a further 800 jobs across its operations, on top of 5,000 jobs already eliminated under a plan to reduce costs that was announced in January. A spokesman for the world`s largest software firm said the latest job cuts are spread across the company`s global operations, but about 200 are in and around its headquarters in Redmond, Washington. Microsoft originally had planned to cut 5,000 jobs, or about 5 percent out of 96,000, before June 2010. T...
Published about 05-11-2009 | Rated 0

TCS hires 300 associates for its US Software Delivery Center

Tata Consultancy Services (TCS) on Thursday said it has hired 300 associates for its North America Domestic Delivery Center, TCS Seven Hills Park. Seven Hills Park provides a wide-range of IT solutions, consulting, business process outsourcing and engineering services for TCS customers across industries including banking and financial services, life-science and health care, as well as manufacturing and retail, a company press release said here. "I welcome these new associates into the TCS ...
Published about 05-11-2009 | Rated 0

Tax experts in demand; salaries scale new heights

An acute shortage of trained tax professionals coupled with a changing and complex tax landscape has led to a sharp rise in the pay packets of such experts with the average salary more than doubling in the past year alone, according to senior executives from tax and legal firms. While an entry level tax professional today commands not less than Rs 10 lakh per annum in some of the country’s top firms, the salary range for a middle-level professional is between Rs 25 lakh and Rs 35 lakh; whil...
Published about 05-11-2009 | Rated 0

Changing Plans Leading to Confusion

Boss to Secretary; for a week we`ll go abroad. She calls her husband; for a week boss & I are going abroad. Husband calls girlfriend; wife going, lets enjoy. Girlfriend calls her student; for a week you are free. Little boy calls his grandpa; I`m free. Grandpa (boss) calls Secretary; tour Canceled, I`m with my grandson this week. Secretary calls her husband; tour canceled. Husband calls girlfriend; wife is not going. Girlfriend calls boy; ...
Submitted by Badri | Rated 0

Companies to face difficulties in retaining and hiring staff

The companies which took harsh measures such as layoffs and pay cuts during the economic slowdown should be prepared to face major difficulties in hiring and retaining staff as growth gets back on track, reports The Economic Times. Employee churn has picked up in the past three months in several businesses and Human Resource (HR) experts said how companies treated staff during the tough times would be a key determinant of attrition levels and the base of employer employee relationships. ...
Published about 04-11-2009 | Rated 0

Kingfisher to lay off around 100 pilots

100 pilots will be sacked by Kingfisher Airlines, on grounds of huge business losses and capacity reduction. These pilots were already working on 80 percent salary cut. These pilots have completed their probation and all endorsements, but the company has decided not to renew their service contracts in view of the huge losses and capacity reduction, sources told PTI here today. Their contracts would not be renewed as and when they expire and hence the job cuts would be carried out in a phased ...
Published about 04-11-2009 | Rated 0

Microsoft cuts 800 jobs, completes layoff plan

Microsoft is going to sack at least 800 emoployees across its operations, on top of the 5,000 jobs it already eliminated under a plan to reduce costs that was announced in January. A spokesman for the software giant said that the latest job cuts are spread across the company`s global operations, but about 200 are in and around its headquarters in Redmond, Washington. According to Reuters, Microsoft originally had planned to cut 5,000 jobs, or about five percent out of 96,000, before June 201...
Published about 04-11-2009 | Rated 0

Companies plan retention bonuses for employees

Since the habit of hiring is making a return, companies across the spectrum such as chemicals business player SRF, auto ancillaries major Sona Koyo Steering, engineering firm Samsung Engineering, IT firm Perot Systems, Adobe, Nitco Tiles and a Mumbai-based finance company, have planned surprise packages for their employees including retention bonuses to check attrition. Retention bonuses are aimed to retain the employees, whom a company thinks are critical for its continual growth. It is ...
Published about 04-11-2009 | Rated 0