Over 12.60 lakh non-gazetted
Railway employees will benefit from a decision by the Union
Cabinet today to give the highest ever Productivity Linked
Bonus (PLB) equivalent to 78 days` wages to them this festival
India, Latin America and Africa must be taken on board while framing the rules for globalisation in the post-economic crisis scenario, French President Nicolas Sarkozy said at WEF`s annual meeting here.
Notwithstanding their cost-cutting drives to survive the downturn, some of the biggest banks in the US and Europe have so far set aside close to USD 300 billion for employee compensation and benefits this year.
Faced with a strike threat by its pilots, Air India paid a month`s incentives and allowances to its 30,000 employees as it prepares for a crucial meeting of its Board tomorrow to decide on major cost-cutting initiatives.
Even as the British economy
continues to reel under financial turmoil, banking major Royal
Bank of Scotland (RBS) is planning to hand out bonuses of up
to five million pound to its employees, a media report says.
The pitched drama over bonuses for bailed-out executives will be revived on Capitol Hill Wednesday as a government watchdog explains how some executives nearly brought down the financial system — then pocketed millions.