First-quarter job losses touch 1.71 lakh

Unemployment estimates for the first quarter of the financial year show a total of 1.71 lakh job losses, and the spectre loomed over most sectors, according to a study by the Labour Bureau. Buttressing this is data that shows withdrawal requests from the Employees’ Provident Fund Organisation (EPFO) between April and June touching a record 31.51 lakh, indicating large-scale layoffs as well as a severe cash crunch among workers.

The textiles industry was worst hit, shedding 1.54 lakh jobs, followed by IT/BPO (34,000). The gems & jewellery sector reported 20,000 job losses, although, ironically, some employers reported worker shortages. Overall employment across the eight sectors surveyed—including metals, leather, automobiles, transport and handloom/powerloom—dipped by 1.31 lakh.

Exporting units remained badly hit. Across all sectors, employment in these units fell by a sharp 1.67 lakh

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Layoffs begin at Satyam, non-techies first to go

Though corporate affairs minister Salman Khursheed had hinted at government intervention, the first phase of layoffs has started at Satyam Computer Services. Trainers, HR and sales & marketing executives are being singled out for action by Tech Mahindra, Satyam’s new owner.

“The first phase of layoffs has started. In the second phase, employees who have been on the bench for less than three months would go away,” said an official source. It couldn’t be ascertained how many on the bench have been asked to leave. “Some senior executives on the bench are being offered almost 50% of their salary or an option to go on a sabbatical. Several benched senior executives have moved out,” the source said.

On Monday, commenting on media reports that 10,000 employees could be retrenched at Satyam, Khursheed had stated, “Layoffs is something we are not going to turn a blind eye to, as we have a relevant presence in decision making (in Satyam Computer Services.)”

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Reliance Retail to lay off 900 in select departments

Around 900 workers employed directly and indirectly with Reliance Retail are to get pink slips. To be laid off are employees working in its land acquisition and statutory clearance teams across the country. The layoffs are the latest in a series of setbacks faced by the organised retail sector as the global meltdown affects the Indian economy. Reliance Retail is a subsidiary of the country’s largest private sector company, Mukesh Ambani’s Reliance Industries Ltd.

According to informed sources, around half the employees slated to lose their jobs are on the company rolls while the balance are with outsourced agencies providing support services. The disbanding of the teams appears to indicate that the company does not plan any major land acquisitions in the near future.

Members of the larger land acquisition team stationed in several states are tasked with identifying and acquiring land for retail stores and SEZs.

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