Citigroup posts $5.11 bn loss, to cut 9k jobs

clipped from www.financialexpress.com Citigroup Inc posted its second straight quarterly loss on Friday, hurt by more than $16 billion of write-downs and costs related to credit losses, and said it will cut another 9,000 jobs. Though the $5.11 billion first-quarter loss was larger than expected, analysts and investors expressed optimism that the largest U.S. bank and its new chief executive, Vikram Pandit, were taking necessary steps to move past credit problems and drive down costs.

Sphere: Related Content

CEO and CFO Pay Down in '07

clipped from workforce.com Most chief executives and chief financial officers saw their cash compensation decrease last year, but executives at top performing companies raked in substantially higher cash bonuses, according to an analysis of 2008 proxies by compensation consultant Steven Hall & Partners. Among the 522 companies that have filed proxies this year, the median cash compensation paid to CEOs was $1.23 million, a 4.3 percent decrease from the previous year. CFOs, meanwhile, took home total cash compensation of $550,000, 1.4 percent less than they were paid last year

Sphere: Related Content

Google back to No:1 - Best Companies to Work For 2008

clipped from money.cnn.com Google Best Companies rank: 1 2006 Revenues (millions): $10,605 Headquarters: Mountain View, CA Get quote: GOOG What makes it so great? Back in our No. 1 spot, Google continued to mint millionaires as the stock cracked $700. The company gives stock options to 99% of employees.

Sphere: Related Content

Employees Aren’t Engaged by Wellness Programs - Hewitt Associates

clipped from workforce.com Employers still have a lot of work to do to make their wellness programs more effective, according to a study released Thursday, April 3, by Hewitt Associates. While companies are devoting more time and money into helping employees live healthier lifestyles, employees aren’t sure they want their employers taking on this role, according to Hewitt. Eighty-eight percent of employers surveyed plan to invest in ways to improve the health and productivity of their workforces, up from 66 percent last year. But only 12 percent of employees believe that it’s appropriate for their employer to play this role. This presents a huge challenge for companies, says Jim Winkler, leader of Hewitt’s health management consulting practice.

Sphere: Related Content

Don't call the head of HR a "skank ho" [pic]

Funny reply to a job applicant.

read more | digg story

Sphere: Related Content

Corporate manslaughter law causing headaches for HR

clipped from www.personneltoday.com he Corporate Manslaughter and Corporate Homicide Act, which comes into effect on 6 April, will make organisations answerable for the actions or omissions of any senior manager if a death occurs. Anyone who plays a significant role in decision-making or managing a large chunk of the organ­isation's activities could make their company responsible for their actions under the Act for corporate killing. Previously only one individual, identified by the company, could cause the company to be guilty of gross negligence or manslaughter. But Gillian Hibberd, HR director at Buckinghamshire County Council, told Employers' Law: "It's causing headaches among HR colleagues and we all need to be preparing now for its introduction.

Sphere: Related Content

Departing HR Chief Laymon Leaving Ford ‘in Great Shape’

clipped from workforce.com Ford Motor Co. group vice president Joe Laymon has resigned and will be replaced as head of human resources by Felicia Fields, the automaker said Tuesday, March 25. Laymon, 55, has been with the company since 2000. Laymon was named vice president of human resources and medical services at Chevron Corp., effective immediately. Marty Mulloy will continue to lead labor relations at Ford, but now will have global responsibilities. He’ll report to manufacturing chief Joe Hinrichs. Fields will report to CEO Alan Mulally. The move comes one day after Automotive News published a story in which Laymon named six possible successors to Mulally. Mulally told Automotive News that Laymon notified Ford of his decision to leave Friday, March 21. It was Laymon’s decision to leave, Mulally said. “He’s leaving us in great shape,” Mulally said.

Sphere: Related Content