ET News related to HR
(15 Nov’10 to 19 Nov’10)
Google lines up pay hike, bonus for
•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
•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
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
•Coal India employees say they needed help in opening
demat accounts and applying for shares.
•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.
•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.
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:
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.
•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
CSR norms tweak to make green
•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.
•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
•ITCC has sustainability committee to help integrate
social and environmental objectives with business
strategies and set goals in contributing to climate change