Monthly Archives: October 2003

HR Headlines

Naukri’s HR headlines:

Modicare Appoints Expatriate As COO
Mr K.K Modi has appointed Mr Richard Johnson as the Chief Operating Officer of Modicare, his direct marketing company. Mr Samir Modi moves up from the managing director�s position to Executive Chairman as the post of MD has been abolished. Mr Samir Modi is now out of the day-to-day management of Modicare, while Mr Johnson has been hired to provide insights into the finer points of direct marketing.
Source: 09-10-03 The Economic Times: Delhi Times Compiled by http://www.naukri.com

Dr Paul To Head Virtusa Centre
Dr Santanu Paul has been appointed the General Manager Operations at Virtusa Corporation, a US-based provider of software engineering services. He would be heading their Advanced Technology Centre (ATC) in Hyderabad. He replaces Mr Harsha Kumar, who returns to the US to head a US-based business unit after guiding the company�s operations for three years. Before joining Virtusa�s Indian operations, Dr Santanu Paul was in the US for approximately 13 years and had only recently joined the global leadership team at the local headquarters of Virtusa.
Source: 09-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Sify CFO Set To Join Global Corp
Mr T. R. Santhanakrishnan (TRS) Sify CFO is quitting. He has already put in his papers. He will be relieved after a 4-year stint with the company on October 18th 2003. TRS has confirmed the news and said that he had taken the decision around 10 months ago on this (quitting). � I was just waiting for the right time. Now Sify with a cash-in-hand of $30 million is in a comfortable position financially. The operating costs per quarter has also been cut down to a low of around $2 million,� he said. He is expected to join an MNC as their global CFO.
Source: 09-10-03 The Economic Times: Delhi Times Compiled by http://www.naukri.com

Star TV�s Mr Katial Quits
After being transferred to Star TV�s Hong Kong headquarters Mr Tarun Katial has reportedly put in his papers. Mr Deepak Sehgal, Creative director, has been promoted as programming head with the designation of executive vice-president (content & communication). Mr Katial had been shifted to Hong Kong to assist the huge portfolio of Mr Steve Askew, who is heading Star�s overall programming and operations.
Source: 09-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Essar�s Gas Expansion Plans Hinge With Mr Virani
Mr F.B. Virani has joined Essar group as an advisor for gas-related business. He was formerly with Enron India�s subsidiary Metgas. Mr Virani would be assisting the Essar group with its proposed expansion plans in the field of coal bed methane (CBM) and purchasing natural gas. �Essar itself is a big consumer of gas, its 550-mw gas based captive power plant at Hazira, consumes around 2 million tonnes of natural gas,�
Source: 09-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

US CEO Compensations Open to Scrutiny
Information on how US business executives are compensated has become much easier; also rival companies can now know what kind of packages are being offered by their immediate competition. This could be a boon for investors seeking to trade on the information. As per the new disclosure requirements introduced after the MCI, Enron Corp and other accounting scandals which broke out in 2001-2002, Corporate entities must disclose stock transactions and awards of stock and options within two days of such transactions taking place. They have to do it through electronic filings accessible to all through company and other websites. Before August 2002, the insiders- who consist of executives, directors and big shareholders- could delay disclosing the information for up to 41 days and they could also avoid announcing some transactions until after the end of the financial year.
Source: 09-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

5-Year Extension For NDDB Chief
Ms Amrita Patel the chairperson of NDDB has been given an extension of 5 years at her position. The Appointments Committee of the Cabinet has given its approval to this effect. The 5-year term would commence from mid-November 2003.
Source: 09-10-03 The Financial Express: Delhi Edition Compiled by http://www.naukri.com

Mr Siddiqui Appointed Head Human Resources at Maruti Udyog Ltd
Maruti Udyog Ltd has appointed Mr Saqulain Siddiqui as Head of Human Resources/ Chief General Manager HR. Mr Siddiqui was formerly Director Human Resources (India Operations) with New Holland Tractors for 7 years. Mr Siddiqui has a track record of 24 years in top Indian and multinational companies like Escorts, DCM Toyota, DCM Daewoo and DCM Benetton. He has also been associated with the CII, AIMA and other professional bodies in the HR area.
Source: 09-10-03 Industry Sources Compiled by http://www.naukri.com

Landmarks
Appointed: Mr Sandeep Basu, President and CEO, BPL Mobile.
Mr C. Ramullu, Director (finance), HPCL.
Mr Sameer Hiremath, executive director, Hikal Ltd.
Mr Anoop Kaul, GM (commercial), SBI, Bengal circle.
Mr K. R. Srikantan, Managing Director, State Bank of Bikaner & Jaipur.
Resigned: Mr Cyrus Bagwada, Managing Director, Essel Propack.
Mr C.V. Krishnan, Chief Executive Officer (metals), Sterlite industries.
Mr J. S. Chatterjee, joint Managing Director, Jenson & Nicholson.
Mr Alak Saha, joint Managing Director and CFO, Nicco Corporation.
Source: 09-10-03 Business India (Sep 29- Oct12) Compiled by http://www.naukri.com

Mr Mashelkar Wins Lal Bahadur Shastri National Award

Well known scientist-manager, Mr R. A. Mashelkar has won the Lal Bahadur Shastri National Award for excellence in Public Administration and Management Services for the year 2002.
Source: 09-10-03 Business India (Sep29 – Oct12) Compiled by http://www.naukri.com

Mr Nair Appointed As Head – Isro
Speculations over who would head Isro – India’s reputed space programme, after the retirement of Mr K. Kasturirangan, have come to an end with Mr. G. Madhavan Nair taking the seat. Known as an efficient low key team leader, Mr Nair would be a rocket engineer to take over Isro after a long gap of 15 years.
Source: 09-10-03 Business India (Sep29 – Oct12) Compiled by http://www.naukri.com

Nabard And Other Banks Still Seeking Heads
The National Bank of Agriculture and Rural Development (Nabard) is making relentless effort to appoint a head which has remained without a head for the last few months. Ms Ranjana Kumar, Chairperson and Managing Director, Indian Bank, may take charges if the government clears the file. However, Nabard has promoted Amaresh Kumar, Secretary and Chief General Manager as Executive Director. Similarly, the Kolkata based Allahabad Bank too is looking for a chairman cum managing director (CMD), for the last six months after Mr B Samal retired on March 31.
Source: 08-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

iFlex CMD Bags Award
Mr Rajesh Hukku, Chairman and Managing Director of iFlex Solution has been awarded by Ministry of Communications and Information Technology, Government of India, with the �Dewang Mehta Award for Innovation in Information Technology� for this year. The award which has been instituted by the ministry in the memory of late Dewang Mehta, founder and former president of NASSCOM, has been conferred on Mr Hukku for launching Flexcube, which is helping to cater to the needs of modern financial institutions in the best manner possible.
Source: 08-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

Overwhelming Response To DD Job Ad
37 applications have been so far received in response to the advertisement put out for the post of Doordarshan director general, which is lying vacant for the last three months. The advertisement which had been posted by Prasar Bharti has received response mostly from government servants, though there are some applications from the private sector as well. This overwhelming response mostly from people holding joint secretary level ranks has put Prasar Bharti in a fix as these officials need to get permission from their respective cadres before making a move.
Source: 08-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

Indian Women In Fortune List
Ms Vidya Chhabria, Chairperson, Jumbo Group and Ms Naina Lal Kidwai, Vice-Chairperson and Managing Director, HSBC Securities and Capital Markets (India) Pvt Ltd, are the two Indians picked by the Fortune magazine in its list of the world�s top 50 corporate women. Ms Chhabria has been ranked 38th and is up by six notches as compared to the 44th position last year, while Ms Kidwai moved up to 47th rank from last year�s 50th position. The international power 50 considers women who have an operating role in businesses outside the US but it includes women based in the US who run overseas divisions.
Source: 07-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

Chrysler Plans To Prune 4,500 Jobs
The world�s fifth largest carmaker, Daimler Chrysler AG�s Chrysler unit is likely to cut 4,500 jobs as part of their aim to boost US sales and lower costs after losing $1.1 billion in the second quarter. The company plans to reduce the number of jobs in order to compensate the loss, which it suffered by spending more than expected on rebates and low interest loans to sell Dodge, Chrysler and Jeep-brand cars and trucks. As part of a new four year treaty with the United Auto Workers that Chrysler workers agreed on, the company plans to either sell or close about nine plants, while workers retain healthcare coverage without paying premiums.
Source: 07-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

LIC Rules The Group Insurance Business
More than 95% of the group insurance business has been retained by the Life Insurance Corporation of India (LIC), amid strong competition which LIC continues to get from private insurance players. The 12 private insurance companies have captured only 4.74% of the group premium business which comes to Rs 626.36 crore as per the Insurance Regulatory Authority. LIC, in actual terms, has retained 93.42% of the 3,100 odd policies sold.
Source: 07-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

Jindal Vijayanagar Steel Gets New CEO
Jindal Vijayanagar Steel Ltd has appointed Dr B.N. Singh as Joint Managing Director and CEO. Dr Singh will succeed Mr J.K. Tandon who will be relocated to corporate office of Jindal South West at Mumbai. Dr Singh has worked with the LNM Group at their Algeria plant as Director General for more than a year, before joining Jindal. He was also employed with Rashtriya Ispat Nigam Ltd, Vizag and has also worked with SAIL for over a decade in varied assignments. To round-off his experience in the steel sector, he worked with with TISCO for 17 years prior to joining SAIL.
Source: 07-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

IOC Staff Likely To Go On An Indefinite Strike
Employees of Indian Oil Corporation Ltd may go on an indefinite strike. The employees have threatened to go on a strike to protest the Cabinet Committee on Disinvestment�s proposal to sell a part of the company�s business. The workers will begin with a one-day token strike followed by an indefinite strike.
Source: 07-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Singapore Airlines Board appoints Pei-Yuan Chia
Mr Pei-Yuan Chia who is a former Vice-Chairman and Director of Citicorp and Citibank, has joined the Singapore Airlines (SAL) board with effect from October 1, 2003.
Source: 07-10-03 The Financial Express: Delhi Edition Compiled by http://www.naukri.com

Mr Verma Fights For Right To Strike
Union Labour Minister, Mr Sahib Singh Verma is against the Supreme Court verdict banning strikes by the government employees. According to Mr Verma, the last resort of the government employees would be to strike, when their plea is not listened to by the authorities or if he has exhausted all channels of grievance redressal. The government workers should not be denied of their right to strike, which has been provided by the Industrial Dispute Act, 1947.
Source: 07-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

Mr Premkumar Joins Food Corporation
Mr R M Premkumar has been elected as Chairman of the Food Corporation of India (FCI). A 1968 batch IAS, Mr Premkumar was secretary in the national commission on scheduled castes and scheduled tribes earlier.
Source: 07-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

Indian Hotels Hiring More And More Expatriates
Indian Hotels Company is now looking at inducting foreigners to run the business.The last few months have seen quite a few foreign national taking charge of Indian hotels. Mr Raymond Bickson, a US national has recently replaced Mr R K Krishna Kumar as Managing Director at the Taj Group. Taj has also filled some other top corporate positions with expatriates along with hiring executive chefs with foreign nationality at two of its premium hotels.
Source: 07-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

McCann-Erickson WorldGroup Gets New CFO
Mr Ramesh Rajan has been appointed as the new Chief Financial Officer of McCann-Erickson WorldGroup, part of the Interpublic Group of Cos. He will replace Mr Arthur D� Angelo and will report to Interpublic�s Chief Operating Officer, Mr Chris Coughlin, as well as WorldGroup Chairman-CEO Mr John Dooner.
Source: 06-10-03 exchange4media.com Compiled by http://www.naukri.com

Nurses Now Must Qualify Eligibility Criteria To Get US Visa
Nurses who aspire to work in US, would now have to prove their eligibility to apply for US visa. They will now need to produce a certificate, even if they are applying for a non-immigrant visa. According to a memo issued by Mr William Yates, the associate director of operations for citizenship and immigration, “professionals” seeking a non-immigrant visa can no longer enjoy the waiver. The aspirants now have to demonstrate that they have VisaScreen at the time that the adjustment application is filed , that is from non-resident to resident status, even if she is not seeking a green card. This will make obtaining visas for nurses much tougher and longer. At the same time the U S continues to face a shortage of nurses.
Source: 06-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

New Area Director For Singapore Tourism Board
The Singapore Tourism Board (STB) has recently made Mr Romen Bose the new Area Director for Northern and Western India operations. Mr Bose who has worked with Channel News Asia as a Broadcast Journalist, was working as a Communications Strategist with the United Nations before joining STB.
Source: 06-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

IDBI Bank Loses Its Acting CEO Too
Amid continuing uncertainty in the IDBI Bank, the senior-most Executive and the acting CEO of the bank, Mr Ajay Bimbhet, puts in his papers. His resignation comes as a blow to the bank which has seen Ms Verma retiring from the chairmanship in March followed by the resignation of the Managing Director, Mr Gunit Chadha in August and also two directors Mr M.C. Shah and Mr Shekhar Bajaj stepping down from the board. Mr Bimbhet is said to have joined Abu Dhabi Commercial Bank, where he will be handling the retail business.
Source: 06-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Number Of Workers On US Payrolls Grows
After eight months of decline at a stretch in the job market, the US employers for the first time in September added jobs. The financial market which was braced for 30,000 job losses, by Wall Street economists� forecast, saw the rise in the number of jobs. Last month, the number of workers on US payrolls outside the farm sector increased by 57,000. Although the growth was not big enough to bring down the unemployment rate, it was encouraging enough, as it happened after eight months of decline.
Source: 05-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Fast Moving Indian Services Industry Offers Age-old Compensation Packages
On one hand the services industry in India is moving at a fast pace and on the other its compensation packages still remain archaic. The hospitality industry, till date, sticks to the hierarchy of a traditional organisation in terms of financial returns. The hospitality industry pays the highest to its general manager, followed by the resident manager. This was revealed in the seventh annual report of HVS International, a hospitality consulting group, based on a study of hotels in India.
Source: 05-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

SIMA Appoints New Chairman And V-C
Mr Sandeep Jajodia, Vice-Chairman and Executive Chairman of Monnet Ispat Limited, has been elected as Chairman of SPONGE Iron Manufacturer�s Association (SIMA) while Mr P R Dhariwal, Executive Director, Essar, takes over as Vice-Chairman, SIMA. Mr Jajodia brings with him a 15 years experience in international trading and project execution, while Mr Dhariwal has 28 long years of experience in various industries behind him.
Source: 05-10-03 The Financial Express: Delhi Times Compiled by http://www.naukri.com

Mr Sankar Becomes Director At Tesco
In addition to his existing position as managing director of Tesco India Sourcing, Mr G Sankar will also take over as director for its new IT-focussed high-tech centre. Tesco which is a UK-based discount retail chain has recently promoted Mr Sankar, who started his career with Madura Coats Ltd in 1987.
Source: 05-10-03 The Financial Express: Delhi Edition Compiled by http://www.naukri.com

Top Moves
Mr Richard Fleming appointed Business Manager, Kodak C&PI Group, South Asia.
Mr Vivek Sharma appointed Business Head for Morphy Richards.
Mr S. Srinivasan assumes charge as Chief Vigilance Officer, Kudremukh Iron Ore Ltd.

Source: 04-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Former Volkswagon Chief Likely To Become Fiat Executive
The Fiat Group will very soon make an announcement regarding the appointment of Mr Herbert Demel as Chief Executive Officer of Fiat Auto. Mr Demel who is the former Head of Volkswagon Brazil, will replace Mr Giancarlo Boschetti who will retire in November 2004. Mr Martin Leach formerly with Ford Europe who was in the picture is no longer being considered since Fiat refused to release him from a two-year non-compete clause.
Source: 04-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Hyderabad Facility Of Surgical Info To Expand Soon
The Atlanta-based technology solutions provider for hospitals, Surgical Information Systems Inc (SIS) is all set to expand its India development-cum-support centre in Hyderabad. The company is slightly behind its schedule of expansion, as it requires highly specialised skills for their projects. However, the company with an investment of about $4 million by the end of this financial year plans to more than double its numbers.
Source: 04-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Employee Retention � A Challenge For Captive BPOs
The captive business process outsourcing (BPO) industry in India is going through a struggle to retain its employees. Most of the captive BPOs are experiencing an annual attrition of 45 percent while third party BPO service providers have managed to maintain their attrition rates at around 20 pct. Poor salary structure and limited growth opportunities are said to be the major reason behind the high attrition rate in captive BPOs, particularly the ones which focus on niche business areas such as banking, finance and insurance.
Source: 04-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Singapore Company Dismisses PWC, KPMG
South east Asia�s largest logistics group, the Singapore-based conglomerate SembCorp Logistics, has sacked six senior officials, including its managing director and chief financial officer after the company uncovered a $12-million accounting irregularity at its Chennai-based subsidiary SembLog India. An investigation has also shown the involvement of the company�s accountants Pricewaterhouse & Co (India) and auditors KPMG Consulting in the scam. SembLog has, therefore, terminated the services of PWC and KPMG and is now planning to take legal action against them.
Source: 03-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

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The information provided here is gathered from published sources and is true to the best of our knowledge. Info Edge India Pvt. Ltd. has taken reasonable steps to ensure the accuracy of the information. Info Edge India Pvt. Ltd. will not be liable on account of any inaccuracy of information in this newsletter. It is the responsibility of the information seeker to research the bona fide content in greater detail before placing reliance on information given herewith.

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Consulting’s salary squeeze coming to an end?…

Top Consultant’s survey says: “UK-based consultancies are likely to face pent up pressure for pay rises over the next 12 months, according to the provisional findings from Top-Consultants 2003 salary survey.

Polling several thousand management consultants worldwide, the survey finds that over the last 12 months the majority of UK-based consultants have been hit by zero bonuses, pay freezes – or indeed both.

Taking the UK responses in isolation, 53% of the 1400 management consultants surveyed received no pay rise in the last 12 months. Of those that did secure a payrise, over half saw only a 1-5% rise in their base salary. By contrast, only 8% of all consultants achieved a pay rise in excess of 10%.

Coupled with the slow rate of growth in base salaries, UK consultants also fell on hard times in terms of bonuses. 56% of UK respondents received no bonus whatsoever in the last 12 months. The minority that did achieve a bonus mostly achieved 5% – 15% of salary, again lower than the 20%+ that would be expected in the boom years.

The result, according to Top-Consultant Director Tony Restell, is likely to be considerable pent-up demand amongst UK consultants for sizeable increases in remuneration:

‘Speaking to consultants at several leading firms, there is dissatisfaction that career aspirations have not being met of late. Regular promotions, pay rises and bonuses are all seen as the quid pro quo for accepting the sometimes-harsh consulting lifestyle. In 2003 there has been no let up in pressure on consultants, hence many have been left feeling that pay expectations have not been met.’

‘While the industry has clearly been through a period of turmoil in which s”

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Gartner analysts say: “Brands could play key role in winning market share in fragmented IT services industry

The IT services marketplace is a highly competitive and fragmented market where a strong brand can play an important role in differentiating a company, as IT service providers compete with top-tier technology vendors for market share and mind share, according to Gartner’s latest report.

The survey showed that IBM, Hewlett-Packard and Microsoft ranked in the top 10 in terms of first to mind and total unaided responses in the business and IT consulting category, even though none of the three have a strong footprint in business consulting.

A total of 159 different providers were top of mind in business and IT consulting. Even so, ‘don’t know’ was among the top five in every category. Gartner analysts believe this is a good news/bad news situation for IT professional services providers.

‘For providers entering the market, or established and/or boutique players who have historically foregone brand building, there is still plenty of mind share to be had. Outside of IBM, no one provider overwhelmingly dominated any categories tested,’ said Christine Adams, principal analyst for Gartner. ”

Strategic consulting looks set to make a comeback

Strategic consulting looks set to make a comeback on both sides of the Atlantic, according to the latest research. In the US, a new report* shows there is an increased appetite amongst corporate executives for strategic advice. Surveying consulting clients, Kennedy Information found that 87% envisage engaging strategic advisors during the next 2 years – suggesting the hey days may soon be back for the likes of McKinsey, BCG and BAH. This ties in with data suggesting a US economic recovery is underway and that a refocusing on growth strategies is likely to occur amongst big corporate clients.

The renewed interest in recruiting experienced strategy consultants is the most obvious indicator that Partners expect stronger strategy consulting growth to materialize in 2004. Several of the leading strategy firms are actively recruiting once again, though mostly through discreet channels.

Perhaps the most telling indicator for the sector will become clear during the next 6 weeks, when the strategy consultancies begin their drives to entice and recruit the top talent amongst university graduates. These last 2 years, the presence of many firms at campus recruiting events has been a purely token gesture to maintain brand awareness on campus. If October sees a renewed gusto in their attempts to woo the brightest of the bright then we will feel confident that better times are here to stay.

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India HR News
compiled by Naukri

Corio Inc’s R&D Outfit In Bangalore
Corio Inc an enterprise application service provider with an investment of about $20 million has recently set up a R&D unit in Bangalore, which currently is the only unit outside the US. This particular outfit has been set up to provide customer support services for the parent?s clientele from Bangalore and also to carry out research and development operations for the main company. Corio India Infotech Pvt Ltd, which is currently focussing on developing upgrades for two of the five of Corio?s product line iServices, would also decide ramp-up plans too.
Source: 03-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

IBM Axes 720 Employees
As part of an effort to match workers? skills with jobs, IBM has brought down its workforce of 180,000 services employees by 720. The cuts throughout the US, are a part of company?s regular skills rebalancing, which in general terms is an exercise to match worker skills to the types of services it is offering. IBM has shed jobs this year in its various spheres which include global services, software and microelectronics divisions.
Source: 03-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Nokia Plans To Hire 150 More
For its large Salo mobile phone plant in Finland, Nokia plans to hire another 150 people to cater to the strong mobile phone market demand. According to the Nokia Mobile Phones spokesman, Mr Kari Tuutti, the mobile phone market is picking up volumes thus needing more people to meet the market needs.This move will take place concurrently with a management and structural revamp. This revamp will lead to the firm splitting its three divisions into four to further substantiate its top position in the cut-throat mobile phones market.
Source: 03-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Corporates Finding New Bases
The current trend of corporates is of moving out of metros and exploring new cities to save on their costs. With respect to commercial real estate, last year the market has witnessed tremendous change. As part of their long-term space requirement and cost-saving strategy now more and more corporates are expanding into newer facilities from their existing locations. This trend is picking up not only in Bangalore, but also in most of the cities where corporates are moving out to save cost and to overcome the problem of space-shortage.
Source: 03-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

PeopleSoft Starts Shedding Jobs
Following the purchase of rival JD Edwards & Co, PeopleSoft Inc has started to bring down its workforce by almost seven percent by dismissing its employees. This was planned previously which the company is implementing now by notifying its workers last week. A few employees have already been dismissed, however the company declined to disclose the number. The company has plans to eliminate between 750 and 1,000 jobs as part of a plan to save up to $207 million in 2004.
Source: 03-10-03 The Financial Express: Delhi Edition Compiled by http://www.naukri.com

Leo Burnett President Steps Down
Mr Bob Brennan the President of Leo Burnett, the Publicis Groupe ad network, is finally stepping down from his post. Temporarily, Linda Wolf, Burnett Chairman & CEO, will assume Brennan?s duties for its operations in North America including its flagship office in Chicago. Mr Brennan who joined Burnett 21 years ago as a media buyer and planner and rose to the post of president at the agency, declined to discuss the situation and reasons for his resignation.
Source: 03-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Rise In The Number Of Women Managers
Women are increasingly likely to hold managerial and professional jobs than men, reflecting a trend that is 25 years in the making. This is reflected in education and job status. However, on other measures, women seem to be losing out. Significantly, both sexes seem to be losing out in the fight to carve out free time. Mothers in dual-earning couples for instance report a paltry 54 minutes of personal time in a day. 39 pct of women are now in managerial or professional jobs as compared with 36 pct in 1997 and 24 pct in 1977. These findings are part of a report released during the week in the U S.
Source: 02-10-03 The Financial Express: Delhi Edition Compiled by http://www.naukri.com

Ford To Prune 2,800 Jobs
Ford Motor Co has decided to bring down the strength of the contract workers by about 1,500 and will be cutting down 1,300 open salaried jobs to cut down costs by the end of this year. In order to maintain profitability, the company is axing surplus employees. Ford which has about 79,000 salaried employees worldwide, also plans to eliminate another 50 salaried employees.
Source: 02-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

LG Nominates Head For Its Flagship Unit
LG Electronics, in a step to reform the group?s family-controlled structure, has nominated a professional manager as head of its flagship unit. Mr John Koo, Chairman, LG Electronics, the son of founder Mr Koo Tae-Hoi, has been replaced by Mr Kim Ssang-Su, a professional manager who was promoted from vice-chairman. Mr Koo would control 4 units namely, LG Cable, LG-Nikko Copper, LG-Caltex Gas and Kukdong City Gas as part of the restrucuring program
Source: 01-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Ballarpur To Announce VRS
Ballarpur Industries is planning to announce a major voluntary retirement scheme (VRS) programme in its factories, including its mother plants. The material handling division will primarily be covered by the VRS programme. The Thapars-promoted domestic paper giant, is planning to prune almost 10% of its total workforce. The scheme is being rolled to boost labour productivity in tandem with machine upgradation in its plants. The VRS is likely to involve a one-time bullet payment.
Source: 01-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Corporates Turning To Meditation To Beat Stress
Transcendental Meditation (TM) is the buzz word in the corporate world, currently. More and more corporates are taking to TM, a meditation technique developed by Maharishi Mahesh Yogi. Executives who want to strike a balance are increasingly taking a refuge in TM. People who have undergone this programme vouch for the benefits. Marico, which started the TM programme at its Pondicherry factory, is now planning to expand it to its other plants too, after experiencing the benefits of the programme.
Source: 01-10-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

BT Asia Appoints New VP
British Telecom for its India and south-east Asia operations, has recently announced the appointment of Mr Richard Bagley as Vice-President. Mr Bagley would be based in New Delhi and will be responsible for managing the sales and marketing operations teams in the Asia-Pacific regional markets of India, Malaysia, the Philippines, Singapore and Thailand.
Source: 01-10-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

IICT To Get New Chief
Dr J.S. Yadav who is a director grade scientist and coordinator-organic chemical sciences and a Fellow of the National Academy, on October 1 will take charge as Director of the Indian Institute of Chemical Technology (IICT). Dr Yadav will replace Dr K.V. Raghavan who is retiring.
Source: 01-10-03 The Finanacial Express: Delhi Edition Compiled by http://www.naukri.com

Hind Lever’s Garden Reach Unit Restarts
After facing a six months closure, the Garden Reach factory of Hindustan Lever Ltd (HLL) has recently restarted its operations. The workers were informed beforehand to resume duty, however they will not be paid any salaries or wages during the closure period in lieu they will receive a recoverable advance of Rs 20,000 each to be deducted in monthly instalments. As per the tripartite agreement, the 150 workers on contract basis have been separated, while all the permanent employees have been put on the rolls.
Source: 01-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

Birla SunLife Gets New CEO
Birla SunLife Asset Management Company has finally elected Mr S.V. Prasad the Chief Executive Officer, after a lot of speculation over the appointment. Mr Prasad who is likely to join by October this year, is the former Chief of Zurich India Mutual Fund. Since the time Mr Jeremy Beswick left two years ago, the post has been lying vacant.
Source: 01-10-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

HCL’s BPO Chief Quits, Joins vCustomer
Mr Sujit Bakshi, HCL BPO head is all set to join the Warberg-Pincus funded US-based BPO, vCustomer and has already submitted his resignation. During Bakshi’s tenure at HCL, the BPO’s operations grew from a two-member project team to a 2,300 strong base in 20 months. Mr Bakshi will now be heading vCustomer?s operations as President India and Head of Global Operations. As head of India operations, Mr Bakshi will be responsible for strengthening and consolidating vCustomer’s position in the country by enabling the company to win and execute multi-crore, multi-year contracts.
Source: 30-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Birla Sun Life AMC Fund Manager Resigns
After a seven year term with the company, Mr Anil Sarin, Fund Manager, Birla Sun Life has submitted his resignation. With this, two top fund managers have quit the company within a year. Mr Sarin confirmed his leaving the company; he however declined to disclose his future plans. The company is yet to find a replacement for Mr Sarin, according to sources.
Source: 30-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Sugar Factories Will Now Require MBAs
Co-operative sugar factories in India which are said to be politically sensitive will soon start recruiting MBAs to fill its top management positions. The government is all set to create a professional cadre of Managing Directors which will manage and run the units, instead of promoting people to that position. A process has been formulated to select MDs to fill the current vacancies where in 50% of whom will be freshers holding MBA degree and the rest will be filled by following the existing method. However, this new procedure has also been opposed by the Maharashtra Rajya Sahakari Sakhar Sangh (MRSSS), who believe that freshers may know nothing of running a sugar factory.
Source: 30-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

The Benches Go Empty As Utilisation Rate Goes High
The Indian IT companies are once again experiencing an increase in the utilisation rate which is expected to cross the peak of 78-80 percent seen during 2000, the peak of the IT boom. The utilisation rate is directly proportional to the percentage of employees in a company who are actively working on projects for customers and are generating revenue. The number of such employees are increasing gradually in the IT industry as the companies are experiencing a rapid ramp-up, consequently lowering the number of people on the bench, or in general terms unutilised manpower, to almost negligible. The utilisation rates are now shooting up as the business volumes are swelling and the only people on the bench are those who are either on leave or on corporate training programmes for skill upgradation.
Source: 30-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Mr Damodaran To Join As IDBI Chief
Mr M. Damodaran has been appointed as the chairman of Industrial Development Bank of India, replacing Mr P.P. Vora. Mr Damodaran will take twin charges of a fund manager as UTI AMC chief and that of a term lender in IDBI. He will hold concurrent charge of the post of both, chairman of UTI as well as CMD of IDBI with effect from October 1.
Source: 30-09-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

ITES Industry May Soon Progress In Kolkata
Bangalore which currently is considered to be the absolute epitome of an IT city, may soon get competitors. According to a recent survey by the UK-based real-estate consultancy, India Property Research Ltd (IPR), the smaller cities and even cities like Kolkata may soon witness a major influx and expansion of ITes business. Kolkata, which has hardly seen much flow of funds in the BPO sector, has huge potential and there is a possibility that it gets added to the list in the coming two years. The only thing, the study suggests, that cities like Kolkata need to change is the perception existing in the industry that it too has space and infrastructure for ITes and can be the next possible destination for the ITes revolution.
Source: 30-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

TCS Targets Global Image Makeover
Tata Consultancy Services (TCS) is training all its employees to speak and understand at least one foreign language in a bid to become a global player in the knowledge sector. The move is not limited to employees just learning a language but also making them conversant with other soft skills like culture and etiquette of at least one foreign country. A dedicated department for taking up the challenge of language training programmes across all its offices, development centres, departments and groups has been set up. Ms Indubala Ashok was hired as the TCS foreign language initiative head last year to spearhead this project across TCS offices.
Source: 29-09-03 The Financial Express: Delhi Edition Compiled by http://www.naukri.com

Quintiles To Ramp Up India Operations
Quintiles, a $2-billion contract research organisation (CRO), has brought out a new India specific strategy. It intends to hire nearly 200 more people in its ITenabled services activities in India. There is also a plan to grow its Bangalore location into a major data management/IT hub for Quintiles globally. Overall, the company has 450 employees in the country, with 250 numbers in sales and marketing while 100 in clinical research and the rest (100) in ITES ( ECG analysis and data management).Quintiles currently employs 100 professionals in ITES, handling data management and analysis of ECG (electro-cardiogram) for clinical trials worldwide. The company plans to increase by threefold the number of employees in research and ITES in India by 2005.
Source: 29-09-03 The Financial Express: Delhi Edition Compiled by http://www.naukri.com

Indian BPO, ITES Growth At $24 Billion By 2008
By 2008 the size of BPO and ITES (IT Enabled Services) business in the country is expected to top $21-$24 billion. Mr S Mahalingam CFO, TCS predicts the global outsourcing of BPO and ITES operations to India will continue in the year ahead. He said the ITES segment would beat the IT services industry in terms of the rate of growth. In 2002-03, the ITES industry in India generated a revenue of Rs 11,700 crore, a rise of over 65 per cent from 2001-02. India?s unbeatable advantage includes the availability of an English-speaking population, availability of technically qualified people at competitive costs apart from a virtual 12-hour time lag with the US. Mr Mahalingam was speaking at a conference on ITES organised by the CII in Kolkata.
Source: 28-09-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Daimler Head Quits NYSE
The CEO, of Daimler-Chrysler Mr Juergen Schrempp, has stepped down from the board of directors of the NYSE because of the recent salary scandal involving Mr Richard Grasso which is plaguing the NYSE.
Source: 28-09-03 Hindu Business Line: Delhi Edition Compiled by http://www.naukri.com

Board Member Resigns From NYSE
Mr. H Carl McCall resigned from the New York Stock Exchange board in what may foreshadow a series of departures sparked by the ousting of CEO Mr Richard Grasso over a $ 140 million payout.Mr McCall had previously defended Mr Grasso?s compensation, considered excessive by critics, but as the furore increased he supported Mr Grasso?s departure.
Source: 27-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Hitachi Reshuffles Top Positions
Hitachi Home & Life Solutions (HHLS) has reshuffled its top managerial positions in India. Mr Amit Doshi, hitherto the sales head moves to marketing. Mr Amit Gupta who headed marketing will move to corporate affairs and human resources. The current managerial shuffle is part of a three-phased restructuring programme, which Hitachi has charted out. This includes coming out of the red in 2003-2004 to be followed by enhanced brand positioning and expansion into new categories of durables.
Source: 27-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

ISB Governing Board Gets A New Member
STAR group Chairman & CEO Mr. James Murdoch joined the governing board of the Indian School of Business (ISB). He also serves the boards of New Corporation subsidiaries, British Sky Broadcasting group (BskyB), News Digital Systems (NDS), boards of the YankeeNets and the board of trustees of the Harvard Lampoon. Mr Murdoch graduated from Harvard University.
Source: 27-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

GRO Expands Its Operations
Chennai based Global Realty Outsourcing, a BPO firm, plans to expand its operations by employing more people by June 2004. CEO Mr. Nicholas B Laird said outsourcing was yet to catch up in a big way in the real estate vertical and the segment offered huge potential. It plans to increase headcount from 350 to 1000 persons. More than 50% are CA’s and MBA’s who analyse figures for US clients as an enabling tool in real estate investment decisions.
Source: 27-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Levis To Shut US Units
Struggling jeans manufacturer Levi Strauss & Co has closed down its remaining North American plants, rendering nearly 2000 employees out of work and completing its withdrawal from the US manufacturing segment. The retrenchment and plant closure is part of a restructuring exercise at the 150-year old company, which is facing increasing competition from cheaper discount brands and pricey designer labels eroding its profitability and existence. Like other apparel companies, Levi Strauss finds it more efficient to manufacture overseas, many of which are located in Latin America.
Source: 27-09-03 Business Standard: Delhi Edition Compiled by http://www.naukri.com

AtStake CTO Fired After MS Report
A report signed by seven researchers, which concluded that the dominance of Microsoft software on PCs has made computer networks susceptible to “massive, cascading failures” has led to the CTO of Atstake resigning.The chief technology officer of computer security firm AtStake, which consults for Microsoft Corp, has been asked to leave after taking part in writing a report criticising Windows as posing a national cybersecurity risk. AtStake has confirmed Mr Dan Geer is no longer with the company, but did not say if he resigned or was fired.
Source: 27-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Nokia – Reshuffle At The Top
Nokia is undergoing a series of top management changes aimed at an organisational overhaul, naming a new chief financial officer, in a bid to maintain its position as the world?s top cellphone maker. The move is intended at grooming a successor to Chief Executive Mr Jorma Ollila. Under his stewardship Nokia climbed to the top of the mobile handset industry. He is under contract till the summer of 2006. The company named Mr Rick Simonson as its new chief financial officer in place of Mr Olli-Pekka Kallasvuo, who will head the Mobile Phones division.
Source: 27-09-03 The Economic Times: Delhi Edition Compiled by http://www.naukri.com

Motown Rides The BPO Wave
India’s BPO reputation has started making itself felt even in Motown . As per a study by consultancy firm AT Kearney, which sampled opinions from American auto executives, India emerged as the outsourcing destination of choice with 24% of the respondents giving it the thumbs up. Auto hub China comes in second, with 15% of the votes, while older hubs like Mexico and Brazil manage 13% and 10% respectively. Even big Asian markets like Thailand and Australia cornered a mere 2% and 1% votes in the survey, while large supply centres like Canada and Hungary fared a little better at 7% and 6%.
Source: 27-09-03 The Economic Times: Delhi Editio