This week saw the continued standoffs between two major MNCs in India; Toyota Kirloskar and Bajaj Auto. The Bajaj Auto union workers justified all their demands, including allocation of CSR funds for the education of employees' children and construction of a museum in the memory of the company's founder. They said that the Bajaj management is prejudiced against their demands. The Toyota standoff, on the other hand, witnessed some normalcy, due to the intervention of Karnataka State Government. Finally, the Toyota Kirloskar Motor Employees Union has decided to resume work from 22nd April, in the wake of Karnataka government's order to both the management and the union to restore normalcy in operations. Another major auto company, Tata Motors, the country's largest automobile company by revenue, has begun top-level management changes at its commercial vehicles units amid falling local sales.
Employees of India's second largest carrier Jet Airways fear layoffs as the airline goes on an across-the-board cost-cutting spree to shore up its weak finances. Later in this week, Jet Airways terminated the services of close to 40 employees from various departments, including cargo and human resources. All those whose services were terminated were based in Delhi. G Gopalakrishna has taken charge as Director, Centre for Advanced Financial Research and Learning (CAFRAL). He took up this position after taking voluntary retirement as Executive Director of Reserve Bank of India on April 20.
Makoto Kitai has been appointed the new Managing Director of Mitsubishi Electric India. Japanese foods firm Nissin Foods, maker of Top Ramen noodles, has appointed Gautam Sharma, former Wrigley India CEO, as the managing director of its Indian arm Indo Nissin. He is the first non-Japanese MD of Indo Nissin. Ashok Sen has taken over as Executive Director (Regional Services), Western Region, of Indian Oil Corp (IOC). The company in a statement said as the western region head he will took after five states -- Maharashtra, Gujarat, Madhya Pradesh, Goa and Chattisgarh.