News Snippets

HCL Technologies, one of India's leading Information Technology firm, will not fire its employees even if the economic situation gets worse over the coming months, the company's chief executive officer told Hindustan Times. The company, like other corporates is cutting costs through other 0measures like reducing transport and electricity bills amongst others.

"We have not and will not lay off no matter how bad it gets, even if recessionary trends get worse," said Vineet Nayar, CEO, HCL Technologies. HCL Technologies employs around 55,000 employs across 19 countries.

Nayar said that the company's hiring plans were on track but declined to put a number to the target. On expected salary hikes for financial year 2010, Nayar said that the company will take a decision around June next year.

"We will take a decision around June and expect that most of the bad news will be behind us by then," said Nayar. "We will cut costs from all corners, through better utilisation of electricity, reducing cycle time from desire to implement of a project, controlling transportation and vendor bills," he said.

He declined to comment on how much the company is likely to save through these initiatives

Company layoff news available @http://www.jobeehive.com/company/layoffs

This may literally be a bolt from Big Blue! IBM is learnt to have delivered the pink slip to a sizeable chunk of its entry-level trainee programmers (ELTPs) across major offices in India.

Most of these ELTPs, who were engineering graduates, had put in nearly a year and were working in numerous technology practice groups under IBM India’s global delivery business.

Though IBM is silent on the actual number of ELTPs dismissed, the total is likely to be in excess of 700 across company locations nationally, including 180-odd in Kolkata alone.

ELTPs, who were essentially freshers, were asked to go based on their performance in aptitude tests that were recently conducted in undisclosed IBM India locations. It is learnt that action on the ELTP front in major IBM locations was an ultra hush-hush exercise about which many senior IBM managers were in the dark.

At present, the IBM India management is reluctant to go into the details of its latest HR exercise. But in a written response to ET’s email query, an IBM spokesperson said, “IBM is driven by a high-performance culture, a place where employees are able to contribute at the upper limits of their potential and continually build market-valued skills and capabilities in both formal training and experiential learning. In support of that expectation on the part of our workforce, we are pioneering new ways for our people to certify their skill levels as both a validation of their value to clients and to reinforce the quality of our employees’ personal skill sets.”

IBM has strongly refuted any possible link in the latest action on the ELTP front, with industry speculation about IBM’s global services business suffering a cash loss in India in 2007.

Source

http://loungerecruiters.wordpress.com/2008/02/05/ibm-dismisses-700-freshers-in-india/

India’s leading software services firm Tata Consultancy Services Ltd (TCS) said on Tuesday that about 500 of its employees were asked to look for another job after their performance was rated poorly.”Those who cannot meet the performance requirements of our company were asked to look for another job commensurate with their abilities,” TCS spokesman Pradipta Bagchi said here.In the quarter ending on December 31, TCS appointed 4,037 employees, taking its total headcount to 108,229, up from 83,500 a year ago.

The export-driven software services companies have been winning large outsourcing contracts from western clients, but recession fears in the US and a rising rupee against the dollar has considerably affected their profit margins in the recent past.

Source : http://loungerecruiters.wordpress.com/2008/02/05/500-tcs-employees-asked-to-leave/