New Delhi: Kingfisher Airlines, that is dealing with a strike by over 70 pilots presently, had some positive news on Friday. Chairman Vijay Mallya wrote to his employees assuring them that their long-overdue salaries would be disbursed starting Friday. Nearly 72 pilots based in north India went on a mass sick leave on Thursday protesting non-payment of salaries since December, and were even trying to convince their counterparts in Mumbai...
11:19 AM, May 11, 2012
Mumbai: After keeping quiet for a month over the non-payment of salaries, a section of pilots of Kingfisher Airlines on Friday threatened not to report for duty from May 9, if the management failed to pay their January salaries. The pilots have also served a June 30 deadline to the management to cleat all their salary arrears. "We have decided not to fly from May 9 if the management does...
12:39 AM, May 05, 2012
New Delhi: Notwithstanding sluggish economic conditions, India Inc is expected to dole out double-digit salary hikes this year and overall rise in pay packets could go up to 20 per cent, says a survey. Staffing firm TeamLease Services on Thursday said in a report that Indian companies are now recognising the need to strike a balance between the need for talent and salary package. TeamLease said double-digit salary hikes are...
07:04 PM, May 03, 2012
Washington: Citigroup's Indian American CEO Vikram Pandit and its directors have been sued by a bank shareholder over a compensation package that was contested by investors in a rare failed "say-on-pay" vote. A lawsuit filed in Manhattan on Friday by shareholder Stanley Moskal says Pandit and directors breached their fiduciary duties by awarding more than $54 million of compensation in 2011 to the executives. That pay included $15 million to...
10:20 AM, Apr 21, 2012
New Delhi: Employees across corporate India are expected to get a lower average salary hike of 11.54 per cent in 2012 compared to last year as companies are grappling with sluggish economic activities, says a survey. As per the survey conducted by HR consulting firm Right Step Consulting, the salary hikes for India will decline to 11.54 per cent in 2012 from 11.89 per cent in 2011. "After having grown...
04:40 AM, Apr 12, 2012
Mumbai: After Air India promised to clear their salaries, many of its contractual ground staff who bunked duty on Thursday morning returned to work, official sources said. Earlier, around a hundred workers remained away from work protesting non-payment of two months salaries. Air India officials said it had made arrangements to clear the salaries by Saturday. The officials said two international flights from Mumbai to Cairo and Shanghai were delayed...
06:30 PM, Apr 05, 2012
New Delhi: The threat of an agitation by a large chunk of Air India's employees from Monday to protest delay in payments of salaries and other dues loomed large with a marathon meeting between them and the management failing to yield any result on Thursday. The meeting would continue on Friday, an airline official said on Thursday night after over nine hours of deliberations between the two sides. "We are...
10:04 PM, Mar 29, 2012
Hyderabad: Salaries and allowances of Chief Minister and ministers in Andhra Pradesh have been enhanced significantly with the state Assembly today approving an amendment to the relevant act. The state will have to spend Rs 25 crore per annum from the 2012-13 fiscal to meet the enhanced salary bill of the Chief Minister and Ministers, including their TA and DA. The amendment to the Andhra Pradesh Payment of Salaries and...
10:59 PM, Mar 20, 2012
Frankfurt: Deutsche Bank's co-chief executive designate Anshu Jain saw his total pay drop 18 per cent last year to almost 10 million euros, less than some of his peers and top earners in the car industry. Jain earned 9.77 million euros in 2011, when the lender missed its ambitious full-year profit targets, compared with 11.9 million a year earlier, Germany's flagship bank said in its annual report on Tuesday. Jain's...
10:44 PM, Mar 20, 2012
New Delhi: Kingfisher Airlines Chairman Vijay Mallya is expected to meet pilots in Delhi on Thursday in an effort to resolve the salary payments issue. The airline is also planning to curtail its international operations. On Wednesday, Civil Aviation Minister Ajit Singh reiterated that the government will not bail out Kingfisher. Aviation watchdog DGCA has said that Kingfisher Airlines is still flouting rules and may face action. Earlier, Kingfisher issued...
06:35 AM, Mar 15, 2012
London: Kingfisher Airlines is talking with two foreign carriers about a potential rescue package that could be announced within days, Kingfisher's chairman, Vijay Mallya, said in an interview with the Times newspaper on Monday. Mallya, the billionaire who controls 58 per cent of Kingfisher, said that he had secured provisional approval from the government for a change in the law that would ease restrictions on foreign ownership of Indian airlines....
01:38 AM, Feb 28, 2012
New Delhi: The average annual compensation for a CEO in India stands at over Rs 2 crore and is nearly 2.6 times the pay package for other top business executives in the country, as per a new study. According to the top executive compensation report 2011-12, released by global management consultancy Hay Group on Thursday, the average CEO (Chief Executive Officer) compensation has crossed Rs 2-crore mark, on cost-to-company (CTC)...
08:11 AM, Feb 24, 2012
Mumbai: Employees in India are likely to get a salary increase of 11.9 per cent this year, says a survey conducted by global human resources consulting and outsourcing firm Aon Hewitt. This is well ahead of competitors China and Philippines, the highest in the Asia-Pacific region. Sandeep Chaudhary, practice leader - compensation consulting told CNBC-TV18 that pharmaceutica sector is expected to top the charts in terms of salary hikes. "Pharmaceutical...
07:46 AM, Feb 22, 2012
Thiruvananthapuram: Around 500 employees of Air India in Kerala are having a tough time as the ailing national carrier has not paid their salaries for the last three months. "We are all having a tough time, because since March last year salaries are not getting credited as it used to happen. The last time we received our salary was for the month of October and the productivity linked incentive (PLI)...
05:45 PM, Jan 06, 2012
Mumbai: After Kingfisher Airlines, Air India's accounts have been frozen for not paying service tax. Air India owes a total of Rs 150 crore in outstanding service tax to the Central Government. First banks, then vendors and now, the Service Tax Department of the Government, the action against ailing airlines Air India and Kingfisher is coming thick and fast from all sides. With various partners demanding to be paid, the...
11:56 PM, Dec 08, 2011
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