The cess levied on top of the maximum 28 per cent tax rate on petrol vehicles with capacity to carry 10-13 persons has been reduced to 1 per cent and the same for diesel vehicles has been cut to 3 per cent.
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According to Unite the Union, which represents the bank's staff, around 60 back-office roles are to be moved to India.
The company said it would hire 2,150 this year and top it up with another 3,850 in 2012, in contrast to Panasonic Corp's massive job cuts plan by 2013.
Companies announced plans to reduce payrolls by only 42,090 last month, 77 per cent lower than 1,86,350 job cuts announced in February 2009, according to a job cut report by global outplacement consultancy Challenger, Gray & Christmas.
A statement issued on Thursday by Corus said the consultation process within the company identifies 2,045 jobs as being at risk. Some 1,500 of these are in the company's production facilities -- around 800 at the engineering steels sites, mainly Rotherham and Stocksbridge; about 370 in Corus Tubes in the UK and the Netherlands; and about 375 at downstream rolling and finishing plants in Teesside and Scotland.
The careful dismantling of Steve Ballmer's legacy is moving apace. Microsoft just announced 18,000 job cuts, more than two-thirds of which relate to Nokia, the handset maker the former boss bought for $7.2 billion.
The company had recently announced its plans to reduce the number of managers by about 1,000 and the number of contractors by another 5,000 as a part of its restructuring initiatives. The company is in discussion with other firms for deployment of low-cost WiMax devices in the country.
As you ring in the New Year, here's a list of the 10 most important financial resolutions to get your money train back on track.
In the first major realignment of workforce since India-born Satya Nadella took over as CEO, Microsoft has announced slashing of up to 18,000 jobs worldwide by next year as the software giant attempts to sharpen focus on cloud and mobile offerings.
In March, Tata Steel announced its intention to sell the entire 10.5 million-tonne UK assets.
Millions of Londoners endured a chaotic start to the week on Monday after a strike shut down most of the Underground network, including many city centre stations.
Gold is the second-biggest item on India's import bill after oil and, facing a record trade deficit and a plunging currency this year, the government imposed stringent rules with the aim of curbing demand for the metal.
A loss of revenue from liquor sales will have to be compensated through increased landing and parking charges on airlines, which, in turn, will pass on the cost to flyers.
'People can start making a safety net, and that safety net should be at least three months of your monthly salary.' 'If somebody is earning Rs 25,000 then s/he should have at least Rs 75,000 in her/his bank account, so that if anything like this (lockdowns) happens in the future, they are not struggling.'
According to the Unite union, Rolls-Royce sent an internal memo to its staff to detail its proposals.
Sell unwanted assets, get out of costly loans, get out of assets generating low returns and negotiate with your bank, says experts.
An estimated 10,000 to 20,000 jobs will be axed, according to a media report
The internet giant bought the money-losing cellphone maker for $12.5 bn.
With an aim to save costs in troubled economic times, just 10 companies together have announced nearly one lakh job cuts worldwide since start of 2012 and they include giants like HP, Google and Citigroup.
Technology giant IBM's workforce-rebalancing efforts have now hit India, with the company asking several of its employees in its hardware business unit to quit.
With Euro zone problems, it continues to weather rough times, with 900 jobs cut as latest decision.
With around 2,000 jobs on the line at its troubled investment banking unit here, Barclays is believed to have dispatched a team to recruit and train new staff in India to replace workers in both London and New York, according to The Independent.
During the meeting with Finance Minister Nirmala Sitharaman, the auto industry broadly presented factors such as issues regarding availability and affordability of financing, increasing cost of acquisition of vehicles and change in axle load capacity for commercial vehicles that have hurt demand.
Ashish Kumar Chauhan, who was appointed BSE's full-time chief executive officer and managing director early this month, has his job cut out - to steer the country's oldest stock exchange through challenging times and get it listed.
Bank would exit from cash equities, corporate broking, equity capital markets, and mergers and acquisitions businesses.
In a major cost-cutting exercise, private sector air-carrier Kingfisher Airlines is believed to be considering about 2,000 job cuts and longer working hours for its staff, among various options.
CNBC recently came up with a list of world's biggest employers.
New Volkswagen Chief Executive Matthias Mueller warned staff on Tuesday to brace for "massive cutbacks" in response to the diesel emissions scandal that has hammered the company's stock and reputation.
The job cuts comes in the wake of the banking sector, especially investment banking activities, facing difficult times amid the persisting European debt turmoil.
US-based banking major Citigroup is likely to slash 900 jobs in its securities and banking division amid financial market turmoil, says a report.
In the present times of job uncertainties and layoffs, the lure of bureaucracy is clear.
Employers in United States are cautiously changing their focus from reducing costs to growth strategies, with 45 per cent of them planning to hire more employees this year than they did in 2010, says a survey.
Consumer electronics giant Royal Philips Electronics on Monday said it is planning to cut 4,500 jobs globally as part of a cost saving programme and did not rule out the possibility of this exercise affecting employees in India.
Get answers to financial queries from renowned financial planner Gaurav Mashruwala at 4.00 pm on Thursday, August 29.
Tata Steel's Anglo-Dutch Corus unit was starting consultations on job cuts due to the continued deterioration in market conditions and falling demand.
Many companies globally are still continuing with cost-cutting initiatives, including job cuts, as they are still uncertain of the economic situation and its long-term fallout, experts said.
The company expects to transfer around 800 jobs internally and about 700 positions to third parties.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
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