News Snippets

Cant imagine how days are rushing. I just remember catching hold of Kayal and 9 yrs got completed.

http://specials.rediff.com/getahead/2009/apr/02layofftales.htm

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/

SYNTEL to Invest Us$20 mln nn Chennai IT Corridor
.. US$20 million and hiring 1,500 people during this year, Syntel (India) Ltd today said that it had acquired 28 acres of land on IT corridor of Chennai and would ...
http://www.indiadaily.com/editorial/1774.asp
 
SYNTEL to have facility in Chennai
Outlining its plans that included new investments for 20 mn USD and hiring 1500 people during this year, Syntel (India) Ltd today said that it had ...
http://sify.com/finance/equity/fullstory.php?id=13683065

US visa to cost more
.. fee. These are part of new charges for consular services in American diplomatic missions in New Delhi, Chennai, Mumbai and Kolkata. ...
http://www.hindustantimes.com/news/5922_1263283,0015002100000000.htm

CALIFORNIA Soft approves pref issue
California Software Company, a Chennai-based IT firm, today said its Board had approved the issue of shares on preferential basis. ...
http://sify.com/finance/equity/fullstory.php?id=13684292

CHENNAI best destination for high-end BPOs
After being chosen by top IT firms for setting up of their development centres, Chennai is now emerging as the most preferred destination for ...
http://www.financialexpress.com/latest_full_story.php?content_id=84061
http://www.algorum.com/articles/articles.asp?id=1299&section=BPO

COGNIZANT'S retail practice expands fast
Cognizant Technology Solutions has announced that its retail practice continues to expand rapidly. It counts six out of ...
http://sify.com/finance/equity/fullstory.php?id=13683600

VESTAS plans 300 MW capacity addition, new plant in Chennai:
.. Given the enormous potential of wind power generation in India, ''we are also planning to set up a new plant in Chennai to manufacture blades and controllers ...
http://news.newkerala.com/india-news/?action=fullnews&id=78687

Infosys to acquire 350 acres of land  
Infosys Chairman and Chief Mentor Narayan Murthy today said that 350 acres of land will be acquired for expansion of Company's Bangalore Development Centre.
http://sify.com/finance/equity/fullstory.php?id=13684237

SATYAM gets 50 acres to expand in Chennai
Satyam Computer Services Ltd is being given 50 acres of land in this city for expanding operations. ...
http://www.newkerala.com/news-daily/news/features.php?action=fullnews&id=79104