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| √ Realtors Mull Layoffs, Courtesy Meltdown → 27/02/2009 08:58:08 |
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Realtors, who have been hit by the credit crisis, are planning to trim staff, reduce salaries and shun hikes to tackle the slowdown in the property sector, where sales have halved from the beginning of this year due to high interest rates. Parsvnath Developers is planning to layoff its non-performing staff post Diwali as part of its cost cutting measures. The company currently employs 1,400 people and nearly 30,000 are indirectly employed, Mr. Pradeep Jain, Chairman of Parsvnath said, adding that the company will cut 15 to 20 per cent salaries of some of the executives as part of rationalizing salary levels. Unitech, the country's second largest property firm, has decided not to give hikes this Diwali. Analysts said that property developers are resorting to all measures to save money when funds have dried up. |
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| √ It's Time For Indian Firms To Pick The Best At B-Schools → 27/02/2009 08:23:47 |
Indian companies have most been priced out of the talent hiring game at top business schools, but now they have a chance to appoint the country's best brains. After the collapse of premium investment banks Lehman Brothers and Merrill Lynch, which had led head hunting at India's leading B-schools for years, students are now looking at careers beyond finance and what they call i-banking, and the fancy salaries that came with it. They are now also focusing at traditional management streams like marketing, HR and consulting in place of finance. Many students are wondering if it would make sense to pick a stable, homegrown company over a foreign employer. While the financial meltdown has somewhat hurt pay prospects for management students, "many companies that earlier went back empty handed would have an opportunity to hire our students," said Mr. Piyush Sinha, who chairs the placement committee at IIM, Ahmedabad. Students, who are keen on working overseas, might explore options in Asia, rather than looking at Europe or the US, he added.
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