Like numerous other global banks, HSBC is in the midst of a cost-cutting drive to boost profitability and returns to shareholders, and is pushing through with plans for annual cost savings of up to $5 billion by 2017.
In a bonanza for central government employees, the Seventh Pay Commission on Thursday submitted its final report to Finance Minister Arun Jaitley recommending a 23.55 percent jump in their salary and allowances.
The independent committee of experts, which was set up to look into revision of pay and allowances for Delhi’s MLAs, has recommended a hefty hike — from the current Rs 88,000 to Rs 2.12 lakh per month.
With salary being the biggest factor when it comes to a professional taking up a new job or leaving an employer, a survey has revealed that nearly 95 percent of employees feel their salaries are not at par with the market standards.
Protesting teachers in Bihar were at the receiving end of a lathi charge by the police in order to put a stop to the protest. The protest was regarding regular wages and included female teachers as well.