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New Delhi, Apr 21 () <keyword id="82073" type="COMPANY" weightage="20" keywordseo="Berger-Paints">Berger Paints</keyword> on Tuesday said it is honouring all hiring commitments given to lateral candidates and campus recruits prior to the imposition of nationwide lockdown to fight COVID-19 pandemic. The paints major also said it has decided against any involuntary furloughs or organizational restructuring that may lead to downsizing of headcount and consequent loss of livelihood during this time of widespread uncertainty due to coronavirus pandemic. "Berger has decided that all offers rolled out to campus recruits across India shall be honoured and no offer shall be revoked," the company said in a statement. In light of the uncertainty in the industry on account of the lockdown, campus recruits are being engaged with continuously to assure them of the sanctity of their job offer, it added. Similarly, the company said, "All hiring commitments given to lateral candidates prior to the nationwide lockdown being announced are being honoured and they are being paid salaries with effect from their pre-committed date of joining, even if the same falls within the lockdown window thereby preventing them from actually joining the organization." It further said salaries of all permanent or fixed-term employees have been disbursed in full and on time. "The company has also engaged with its service providers to ensure that salaries of their associates who are deployed in its facilities are also disbursed in a timely manner so that employees do not face any financial hardships on account of the current situation," it added. Commenting on the company's commitment, Berger Paints Managing Director and CEO Abhijit Roy said, "We are like one big but closely knit family and would fight this battle together. These are challenging times and might require small sacrifices from the entire family to sail through the crisis." He further said, "However, there won't be any retrenchments or involuntary furloughs. We are in this together and would emerge stronger as we come out of the COVID-19 crisis." The company said all new joinees are being "on boarded remotely from the comfort of their homes using conferencing tools such as Zoom or Microsoft Teams". Last week (13th April) Berger Paints India Ltd said it has come forward to help its 20,000 odd painting contractors across the country to tide over the coronavirus crisis through financial assistance as the ongoing nationwide lockdown to contain the COVID-19 outbreak is set tobe extended by two more weeks till April-end. The money will help contractors' families to get daily essentials and cater to any emergency at a time when their incomes have taken a hit as all painting activities came to "ascreeching halt with the lockdown in place", the company saidin a statement. The paint maker is providing an advance to them andthe support varies per contractor, it said. The average financial assistance per contractor isaround Rs 5,500, a company official said. Berger has already started the process of transferring money directly into the bank accounts of the contractors who have been associated with the company, the official said. More than 5,000 contractors have already received the financial support last week under the first phase of the programme. "The painting contractors have always been an integral part of the larger Berger family and we feel humbled that weare in a position to support them in this hour of need," thecompany's MD and CEO Abhijit Roy said. He also hoped that the government will take measuresto restart economic activity through ease of restrictions inareas unaffected by the coronavirus pandemic.

Berger Paints will honor all new recruitments and won't be firing even during lockdown

<ul><li>Crude oil prices hit a 5-week high in US </li><li>Rising oil prices squeezes corporate margins as well as people's purchasing power </li><li>Sustained rise in oil prices offset strong cues from US and <keyword id="35189" type="COMPANY" weightage="20" keywordseo="asian-markets">Asian markets</keyword></li></ul> A five-day rally on <keyword id="42111" type="COMPANY" weightage="20" keywordseo="Wall-Street">Wall Street</keyword> and Asian markets at a one-month high are strong global cues for Indian markets to start the friday (January 11) with. However, the fact the crude oil prices are back in a bull run could spell doom for the Indian economy as well as the markets. Oil prices in New York clocked the longest rally since 2010, according to reports. This is bad news for the Indian economy that imports a big chunk of its oil needs, as well as the financial health of companies, which use crude oil as an essential input. For instance, paints and adhesives makers like Asian Paints, Berger, and Pidilite and other packing and logistics companies too. If oil prices continue to rally, it will hurt the Indian consumer’s purchasing power too and that, in turn, would cap economic growth further. For the <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> government, it is bad news as rising crude oil prices would mean more dollar outflow and that it’s already negligible fiscal space for voter appeasement would shrink further in an election year. However, there may be some respite for Indian equity investors from the rising demand for risk assets, thanks to some dovish comments from the American central bank chief. The rally in US got extended after the chairman of the US Federal Reserve reiterated on thursday that the central bank would remain ‘patient’ with interest rate hikes. “The word ‘patient’ is used often when the Fed’s policy direction is still tightening but its next rate hike can wait for a considerable time. So risk assets now enjoy support from what we can call Powell put,” said Tomoaki Shishido, economist at Nomura Securities, explained to Reuters. Simply put, the Fed chair may have put a floor on the stock prices with his statements. That has taken Asian stocks to the highest level in a month. However, global investors are still a little nervous about the ongoing trade negotiations between team <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> and their counterparts from Beijing. Any fallout may result in a severe dent in global economic growth and therefore, the stock prices. The key stock to watch out for today would be Tata Consultancy Services (TCS), the biggest software services company in the country, after it announced its quarterly earnings last evening. The software major’s third-quarter revenue was the highest 14 quarters and the profit growth at 24% was impressive in a rather tough business environment. Ever since Donald Trump’s curbs on H-1B visa, India tech companies, which depend in a big way on US market for business, have had to hire more high-cost American employees leading to an erosion in margin. Market may reward the company’s strong show especially in profit margins despite the cost escalation in US as well as the currency volatility in India.

Surging crude oil may dampen mood in India despite strong cues from US and Asia

<ul><li>This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history.</li><li>The highest package offered during the drive was ₹ 3.5 lakh per month.</li><li>The average and median stipends offered to students were ₹ 1.41 lakh per month and ₹ 1.5 lakh per month. </li></ul> The Indian Institute of Management, <keyword id="6355192" type="General" weightage="50" keywordseo="lucknow" source="Orion">Lucknow</keyword> (IIM-L) has scored 100 per cent placement in its summer placement drive. The drive -- held for the 38th batch of <keyword id="473399" type="General" weightage="50" keywordseo="post-graduate-programme-in-management" source="Orion">Post Graduate Programme in Management</keyword> and 19th batch of PG Programme in Food and Agri-Business Management -- saw 566 students getting a total of 570 offers. This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history. According to a press release issued by IIM-L, the highest package offered during the drive was ₹ 3.5 lakh per month. The average and median stipends offered to students were ₹1.41 lakh per month and ₹ 1.5 lakh per month, respectively. This is also the highest-ever in IIM-L's history, added the communique. Students secured offers in varied fields -- including consulting, finance, general management, IT &amp; analytics, sales and marketing, operations and retail e-commerce -- from top recruiters across the globe. During the drive, several major companies came to hire IIM-L students for the first time. These included -- Alkem Laboratories, Berger Paints, Bharat Serums &amp; Vaccines, Big Basket, Castrol, CK Birla, DSP Investment Managers, GEF Capital Partners, <keyword id="720079" type="General" weightage="50" keywordseo="ivycap-ventures" source="Orion">IvyCap Ventures</keyword>, <keyword id="1196648" type="General" weightage="50" keywordseo="lincoln-international" source="Orion">Lincoln International</keyword>, L'oreal, Ninjacart, Redseer Consulting, SBI Capital, Sony Pictures, The <keyword id="1855697" type="General" weightage="50" keywordseo="rohatyn-group" source="Orion">Rohatyn Group</keyword>, <keyword id="4053635" type="General" weightage="80" keywordseo="transunion-cibil" source="Orion">Transunion Cibil</keyword>, and <keyword id="5921903" type="General" weightage="80" keywordseo="whiteboard-capital" source="Orion">Whiteboard Capital</keyword>. Meanwhile, several other companies that have recruited from the institute earlier as well also participated in the drive. These included -- Accenture, Aditya Birla Group, Adobe, Alvarez &amp; Marsal, Amazon, Arthur D. Little, Atlassian, <keyword id="6429146" type="General" weightage="80" keywordseo="avendus-capital" source="Orion">Avendus Capital</keyword>, Bain &amp; Company, Boston Consulting Group, Citi Group, Colgate-Palmolive and Deloitte. "Despite the current state of economy, the placement drive was made a huge success by the relentless support of recruiters and placement teams, making it the best placements with more than 185+ recruiters participating in the process," said the IIM-L release SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-dominate-the-india-rich-list-with-the-gap-between-them-the-rest-of-india-inc-being-a-very-large-one/articleshow/94751112.cms">Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-to-declare-iphone-5c-obsolete-by-next-month/articleshow/94750969.cms">Apple to declare iPhone 5c 'obsolete' by next month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/1000-ev-charging-stations-to-be-set-up-in-delhi-in-a-year-govt/articleshow/94742229.cms">1,000 EV charging stations to be set up in Delhi in a year: govt</a>

You Searched For "berger paints hiring" and got 4 results

Berger Paints will honor all new recruitments and won't be firing even during lockdown

PTI

Surging crude oil may dampen mood in India despite strong cues from US and Asia

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IIM-L scores 100% placement

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