Et news 10

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Et news 10

  1. 1. ET News related to HR (15 Nov’10 to 19 Nov’10) Neha Sahi MBA 2C
  2. 2. Google lines up pay hike, bonus for top execs •Google has approved pay hike of 30% and bonuses of 250%, up from current 150%,of the base salary for its top executives starting next year. •Google has approved an increase after: oReview of performance oCompetitive market data oReview of Company’s compensation programs. •Half of the bonus would be based on the individual’s performance and remaining half on financial performance of Company.
  3. 3. Contd.. •Four top executives that would each see increase in pay from $500,000 to $650,000 are: oPatrick Pichette, Chief Financial Officer oNikesh Arora, Global Business Head oAlan Eustace, Engineering & Research Chief oJonathan Rosenberg, Product Chief. •Executives will also get equity award: oPichette and Arora each-$20 million oEustace-$10 million oRosenberg-$5 million.
  4. 4. CIL staff to get 2nd shot at IPO gold •Coal India may give 2nd chance to its employees to own shares of the company after a majority of its 3.8 lakh workers refused to apply for share. •CIL is of view that many employees did not apply for their quota of shares under pressure from the trade union. •Coal India employees say they needed help in opening demat accounts and applying for shares.
  5. 5. Contd.. •Just over a tenth of the 63.2 million shares reserved for employees were subscribed.(27,848 applications for 6.84 million shares were received and 3,000 were rejected due to errors in forms) •Workers of National Mineral Development Corporation bought only 5% of shares reserved for them. •Satluj Jal Vidyut Nigam subcribed 25% of shares kept aside for workers.
  6. 6. Contd.. •Union leaders called a strike on the first day of the share offer on 18 October. •Coal India had instructed its subsidies to deduct 8 days’ wages from October salaries for all tose workers. •CIL trade union had approached the Kolkata HC for relief against the wage cut. •Court stayed the CIL move.
  7. 7. Roche takes knife to costs, cuts 48oo jobs •Roche Holding AG set out plans to slash costs with a wide-ranging restructuring programme because of: oProduct setbacks oMounting pressure on prices. •Until now, Roche has been alone among European pharmaceutical companies in not implementing any significant cost-cutting in recent years. •Group expects restructuring costs of 2.7 billion frans from 2010 through 2012.
  8. 8. Contd.. •The group will slash 4,800 jobs worldwide or about 6% of its current workforce of around 82,000, over the next two years. •Most of the planned job cuts will be in Roche’s pharma unit, particularly in: oGlobal sales and marketing oManufacturing
  9. 9. CSR norms tweak to make green reporting mandatory •The government will make it mandatory for companies to report measures taken to prevent environmental damage, to encourage cleaner production methods. •The fresh norms relate to: oEfforts to prevent wasteful use of natural resources oEnsure scientific treatment of industrial waste. •A comprehensive accounting standard on environmental reporting is being worked out by Institute of Chartered Accountants of India.
  10. 10. Contd.. •New norms will be in conformity with the globally recognized guidance on social responsibility, ISO 26000. •Companies will require to report their performance in this regard in the form of disclosures in their annual report. •ITCC has sustainability committee to help integrate social and environmental objectives with business strategies and set goals in contributing to climate change mitigation.

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