Bal Thackeray, a maverick politician who roused emotions on Marathi pride and catapulted Shiv Sena to power in Maharashtra in the 1990s, died in Mumbai on Saturday after having been critically ill for the past few days.
The 86-year-old cartoonist turned politician, known for his strong views and speaking his mind, sometimes bordering on the offensive, breathed his last at 3.30 pm at his residence ‘Matoshree’ in suburban Bandra.
“He had suffered a cardiac arrest. We could not revive him despite our best efforts. He breathed his last at around 3:30 pm,” Dr Jalil Parkar, who treated the Sena supremo, told reporters after emerging from Thackeray residence on Saturday evening.
A Manpower.com survey concluded that hiring in the country is likely to witness a slowdown. The impact will be felt particularly in the public administration, education, transportation and utilities sectors. However, net employment outlook remains positive, the Manpower Employment Outlook Survey said. During the fourth quarter, the number of employers planning to hire was 20 times more than those who planned to keep their headcount the same. The hiring sentiment reflects caution among employers as Indian companies gauge the impact of the global slowdown, said Sanjay Pandit, managing director, ManpowerGroup India. While employers do not plan to shed staff, they are definitely planning to cut back on hiring. The outlook was weak for all four regions of India and across all seven industry sectors. In five sectors, it fell by 20 or more percentage points on a quarter-on-quarter basis.
The U.S. job market picked up pace in October with private sector companies adding 158,000 jobs. The gain was the biggest in eight months, the revamped report on the private sector labour market showed. The gain in October was the biggest jump since February and topped economists’ forecasts of a gain of 135,000 jobs. The ADP National Employment Report was revised as part of the new methodology. It was used for the first time in October. September’s increase has thus been halved to 88,200 new jobs from an initially reported 162,000. The overhaul is meant to bring ADP’s numbers more in line with the government’s final revised job figures. The closely monitored non-farm payrolls report is expected to show that employment picked up in October, but not enough to prevent the jobless rate from recovering from a near four-year low.
More than 2,700 new finance-related jobs were created in London in October. According to a report by headhunters Astbury Marsden, the figure was up 10 percent from the previous month. Smaller, specialist firms in the city are picking up executives laid off by big investment firms. Thousands have lost jobs during the euro zone crisis, with Europe adapting to stricter capital rules. Smaller investment banks and brokerages have been the beneficiaries. They can pick from a large pool of executives left in the lurch by new pay rules and uncertainty over strategy. However, staff should not be celebrating yet, said Astbury Marsden’s COO Mark Cameron. The job market is still very difficult and City jobs in October were still 14 percent lower than a year ago, when many firms were already slashing staff.
Hiring of senior professionals is likely to remain sluggish until March, compared to the first half of fiscal 2012. A Headhonchos.com survey found that only 51 percent of employers are looking to boost employee numbers over the next five months after filling up vacancies. Firms want to downsize and 49 percent of employers expect to freeze headcount or trim staff by the end of 2012-13. About 26 percent employers are planning to cut employee numbers by March. Only 23 percent expect staff levels to remain the same at the end of this financial year. Those planning to increase their workforce expect the headcount to rise 10.3 percent. Of these, 87 percent expect staff numbers to grow 6 percent to 20 percent. Senior-level hiring is expected to increase 2 percent and mid-level hiring 3.4 percent.
Large-scale job cuts are in the offing at big European companies cutting across industries. The crisis has intensified in the euro zone and auto makers and financial groups have already announced big cutbacks. Swedish mobile telecom equipment maker Ericsson said it would shed nearly 9 percent of its staff. Sweden was viewed as being largely immune from Europe’s debt woes. German steel distributor Kloeckner & Co. is culling 1,800 jobs, up from the previously planned 1,300. The cuts amount to 16 percent of its workforce. Dutch financial group ING said it would reduce its workforce 2.5 percent amid difficult operating conditions. Swiss giant UBS is planning to let go of 10,000 and German lender Commerzbank may shed 5,000 to 6,000 employees. Euro zone unemployment scaled new heights in September, with 18.49 million unemployed. This was 146,000 more than the previous month.
A survey said manufacturing is likely to witness modest growth in the third quarter of the current financial year as new orders increase. According to the Federation of Indian Chambers of Commerce and Industry survey, the sector grew 2.9 percent in August after recording negative growth in June and July. The survey polled 364 respondents. About 45 percent of the respondents from large, small and medium-scale enterprises expect production gains during the quarter ending December. In the previous two quarters, the increase was 44 percent and 46 percent, respectively. Production in the eight core sectors has improved. Tyres, ceramics and electronics are likely to record growth of more than 10 percent in third quarter. Consumer care goods and food, capital goods, cement and leather and footwear may clock moderate growth of between 5 percent and 10 percent.
Young workers are 40 percent more likely to report sick because of stress than older employees. According to a survey, almost seven in ten workers between the age of 18 and 24 called in sick due to stress in the last year. The study by a U.K. provider of financial products and services said the younger generation feels more stressed as they carry a bigger burden of expectations. Experts say young workers are also more likely to be aware of the signs of stress. Only 43 percent of people aged between 45 and 55 called in sick. This figure rose slightly to 49 percent among workers over the age of 55. Dr Ian Drever, consultant psychiatrist at The Priory Group, says younger people are more time-pressured and face more demands during challenging times.
Accor Group has appointed Peter Frawley as the General Manager Delegate for Accor Hotels, Andhra Pradesh. Mr.Frawley joins Accor Group in Andhra Pradesh with more than 30 years of experience in the travel and hospitality industry.As a General Manager Delegate he will be responsible for the overall vision and future direction of all the properties of Accor in Andhra Pradesh including Novotel Hyderabad Convention Centre and HICC, Novotel Hyderabad Airport, Mercure- Abids, and Novotel Vishakapatnam Varun Beach. Mr. Frawley started his career with Sheraton Hotels in 1982. He holds an unrestricted pilot’s licence for flying and an instructors licence in gliding.
The Indian Institutes of Management (IIMs) at Lucknow, Kolkata and Kozhikode saw a large number of companies participate in the summer placement season this year. Stipends also rose about 20 percent across institutes. Students of IIM Lucknow bagged about 500 offers from companies such as Amazon, Accenture Management Consulting, Headstrong Consulting and Aditya Birla Group. The average stipend was about Rs 50,000 a month for domestic locations. At IIM Calcutta, about 230 offers were made in just two days of placements. The World Bank recruited interns for the first time. DuPont also made a debut at the institute, recruiting for its marketing leadership development programme. Other offers came from consulting firms such as Boston Consulting Group, Bain & Co. and AT Kearney. IIM Kozhikode managed 100 percent placements for its batch. About 140 recruiters made offers to a batch of 366 students. The highest stipend was Rs 1,50,000.
Multinational companies (MNCs) are expanding their workforce in India. Fujitsu Consulting is planning to double its India staff to 6,000. The company is targeting mainly tier II and tier III towns. Its India Vice President Sunil Bhave said it looked to tap into the vast talent pool, especially adding to its NOIDA and Pune facilities. Fujitsu is looking to increase its presence in key growth markets and expanding its IT services from India. Oil and gas company Shell will hire an additional 600 researchers and engineers at its Bangalore technology centre. The firm set up the centre in 2006 and currently has 900 R&D staff. It will move to its new campus in Devanahalli on the outskirts of Bangalore by 2015. The centre is one of only three such facilities in the world.
Most companies are not giving out the much-anticipated bonus this Diwali. Instead of a fixed bonus this season, they are linking benefits to individual performance. The corporate world has become very meritocratic, says Pankaj Bansal, co-founder of HR firm PeopleStrong. While bonuses have shrunk, Diwali parties and gifts have seen an increase. Firms are veering towards performance-linked pay, since they serve to motivate staff better. Raheja Developers extends incentives in the festival period but the bonus is also linked to performance, says Dimple Bharadwaj, deputy general manager. Even state-run companies such as Oil & Natural Gas Corp. and MMTC have dispensed with seasonal bonus. At ONGC, bonuses are performance-linked and vary from person to person. This year, the pay-out has come during the festive season. The remainder will be paid out by December-end.
The mix of direct college hires and experienced professionals in global information technology (IT) major Cognizant Technology has witnessed a change in the recent past, according to data available from the company.During the third quarter of 2012, around 35 per cent of the gross additions were direct college hires, while about 65 per cent were lateral hires of experienced professionals. Direct college hires during the corresponding period of the previous year were 52 per cent of the gross additions, while the lateral hires of experienced professionals were stood at 48 per cent.
Despite the bleak economic scenario, hiring sentiments were very positive at two of the leading B-Schools in eastern India—Indian Institute of Management Calcutta and XLRI during the first few days of summer placement. For the records, World Bank visited IIMC campus and already offered three positions in its financial instruments and treasury departments. This is the first time World Bank is recruiting from any of the IIMs. Altogether, IIMC has already received over 230 offers from a cross section of top companies in the first two days of summer placement. XLRI, on its part, also received an unprecedented 282 offers, reflecting more than 100 per cent placements for a batch of 240 students.
Kingfisher Airlines has assured its employees that May salaries will be paid by Thursday, an airline staff member said.This is even as a section of the airline’s employees said they would decide on their future course of action after Saturday, in case May salaries were not credited by then.Some employees claimed that a technical glitch in a private sector bank was the reason behind the cash-strapped airline being unable to keep its promise of paying May salaries before Diwali. Airline officials were unavailable for comment on when the over 4,000 employees of the airline would be paid their May salaries.
Reexamine all that you have been told in school, or in church or in any book. Dismiss whatever insults your soul. Walt Whitman Today, as you dismiss the conditioning that “insults your soul,” replace it with that which uplifts your soul.