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TCS mulls cutting variable pay; employees to work more
In a clear admission that it is facing hard times, India’s largest software exporter Tata Consultancy Services (TCS) said it plans to review the variable component of employees` salaries every quarter in an attempt to cut costs. Variable pay accounts for 20 to 35 per cent of TCS employees` gross salary, depending on their hierarchy. The company had earlier cut employees` variable pay by around 1.5 per cent in February 2008....Submitted by Kushagr | Rated +1
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Who hired in the Middle East in February?
In spite of increasing job cuts in the Middle East, firms are still setting up in the region and some big ticket hires in February suggest many still view it as having potential. Bain & Company, the business consulting firm, has hired Jean-Marie Péan to head up its Middle Eastern operations in Dubai. Bank of Tokyo Mitsubishi UFJ has opened an office in the Qatar Financial Centre and suggests that it’s likely to expand its functions going forward. Read further for details...Submitted by Kushagr | Rated +1
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Syntel looks to lay off employees
Nasdaq-listed IT services and knowledge process outsourcing (KPO) firm Syntel has begun retrenching employees from its centres in Chennai, Mumbai, Pune and the US. While the exact number of employees being asked to quit could not be confirmed, sources said close to 1,000 employees were tipped to go. Syntel has around 11,000 employees in India. "Close to 100 employees, with a pay package ranging between Rs 50 lakh and Rs 1 crore annually, have already been asked to leave," said sources affecte...Submitted by Kushagr | Rated +1
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Millions to face pay freeze, salary cut in UK: Report
Millions of private sector workers in the United Kingdom are likely to see their earnings slashed or pay freeze largely due to the global "With the economy plunging deeper into recession, and inflation likely to drop below zero per cent into deflation, the CBI (Confederation of British Industry) has warned that the `overwhelming majority` of its members will freeze wages this year," a newspaper report said. Tens of thousands of other private-sector workers are also likely to see their ea...Submitted by Kushagr | Rated +1
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YES BANK - Bullish on growth, hiring in FY10
Despite the current economic slowdown, new age private banker Yes Bank remains optimistic about its growth plans and hiring in the next financial year. “Subject to the Reserve Bank of India (RBI) approval we will be opening new branches all across the country during financial year 2010,” Ravi Shankar, country head (cash management & direct banking) of Yes Bank, told Business Standard without divulging the exact number of branches. The 117 branch-strong bank has about 30 per cent of its...Submitted by Kushagr | Rated +1
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G4S India to hire 20,000 people this year
At a time when most industries are laying off workers to tide over the economic slowdown, security solutions major G4S will hire 18,000-20,000 people for its India operations in the current fiscal. "We have been growing at about 30 per cent in the Indian market. Looking at this, we would expect to hire 18,000-20,000 people in this fiscal (January-December 2009)," G4S Regional President (North Africa, Middle East and Southern Asia) David I Hudson told PTI here. This addition will take the t...Submitted by Kushagr | Rated +1
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Hiring in IT-BPO to pick up from April: Nasscom
Industry body says that the sector will be a net hirer though ‘performance-based’ separations will continue to take place. The information technology sector, one of the services segments badly hit by the current economic downturn, has seen an almost 45 per cent dip in hiring compared with last year. Yet, the industry remains bullish and expects the situation to improve in the first quarter (April-June) of financial year 2009-10. Software industry body Nasscom has maintained that the se...Submitted by Kushagr | Rated +1
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Infosys opts out of Campus Recruitment
Infosys Technologies will delay its visit to campuses for recruitment this year. The software major normally starts the recruitment process during April or May. Infosys Chief Executive Officer and Managing Director S Gopalakrishnan said today that the company might consider taking some people towards the end of the second quarter of the financial year 2009-10. The company has put a freeze on fresh recruitments after meeting this financial year’s target of hiring 25,000 people, but has sa...Submitted by Kushagr | Rated +1
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Tips that can help you "Retain your Job"
By Shubha Subbaraman Over the past few months, lay offs have become the norm of the day. Every day we hear stories of employees being handed the pink slip. While all of us put in our best, during such trying times it becomes essential to go that extra mile to ensure that your name doesn’t appear in the dreaded list of fired employees. Here’s a list of things you could consider to track your way to the ‘safe’ zone: Be irreplaceable While most people would look at being irrepla...Submitted by Kushagr | Rated +1
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United Technologies to slash 11,600 jobs
Diversified entity United Technologies Corp today said it will reduce the headcount by 11,600 employees as part of its restructuring efforts. The company offers a broad range of high technology products and support services to the building systems and aerospace industries. United Technologies today announced a $600 million worth additional restructuring actions and now expects total charges related to restructuring to be $750 million this year. "These actions will result in global emplo...Submitted by Kushagr | Rated +1
