Just a day after the report of India’s biggest software exporter TCS laying off several employees at its UK office, comes a report that the company has put another 130 employees under scanner.
According to a report in a business daily, the 130 employees are said to be working for its UK-based insurance client Legal and General’s (L&G’s).
In June 2008, TCS signed a five-year agreement with L&G to provide IT managed services.
After spending six weeks diagnosing Yahoo Inc.’s troubles, new Chief Executive Carol Bartz started to prescribe a cure on Thursday with a management shake-up that will usher out the Internet company’s chief financial officer.
Besides pushing CFO Blake Jorgensen out the door, the overhaul will expand the responsibilities of Yahoo’s chief technology officer, Ari Balogh, and the company’s top advertising executive in the United States, Hilary Schneider.
Bartz also created two jobs: a chief marketing officer and her own chief of staff.
Elisa Steele, who has been working at NetApp Inc., will join Yahoo as chief marketing officer on March 23, while Joel Jones, a former McKinsey consultant who has been Yahoo’s corporate strategist, becomes Bartz’s chief of staff as of Thursday.
With the new pecking order, Bartz hopes to speed up Yahoo’s decision-making and have a senior team that supports her strategy for turning around a company struggling with three years of declining profits _ a downturn that had battered its stock price well before the market’s overall decline.
Although Bartz still hasn’t specified how she intends to get Yahoo back on track, she has left no doubt about her resolve to recapture the Internet pioneer’s glory days.
“I’m singularly focused on providing you with awesome products.
Software multinationals in India have begun freezing wage increases, slashing salaries and postponing merit-based hikes, a study by Indian consulting firm Zinnov has found.
“Though Bangalore stands highest in its average salary for multinational R&D firms, followed by Pune and Chennai, the economic slump is causing undue pressure on them to retain compensation levels,” Zinnov director for advisory services C S Chandramouli, said after the survey was made public.
Hinting that IT salaries in 2009 would see a freeze across the board in a majority of the firms surveyed, Chandramouli said the average increment would be in the 5-12 per cent range.
“Of the 30 representative multinationals surveyed in these three cities (Bangalore, Pune and Chennai), 27 per cent of them said they have frozen salary increases this year, while 42 per cent said they would provide salary increases and 15 per cent have postponed their merit increase cycle to take a call at a later stage if the economic scenario changes,” Chandramouli said.
As a preferred destination for IT services and R&D, about 680 multinationals operate in India.
As part of its University Relations programme, IBM has rolled out a novel gen-next technology challenge titled “IBM Blue Battle” in over 25 leading engineering colleges across India.
The first in the “IBM Blue Battle” series has been launched at IIIT Hyderabad and is being conducted on IBM Multi-core architecture for gaming.
With the increasing consumption of electronic items in the country, the hardware manufacturing industry in India is poised to touch $155 billion by 2015.
“As per study made by Frost and Sullivan, the (global) market for electronics hardware is expected to grow by 30 per cent to $320 billion in 2015,” Department of Information Technology Secretary Jainder Singh said at the Componex Nepcon exhibition here today.
“There is a potential for the domestic hardware manufacturing to grow to $155 billion in 2015,” he added.
Indian electronic hardware production increased from Rs 43,800 crore in 2003-04 to Rs 80,800 crore in 2007-08, with a cumulative annual growth rate of 16.6 per cent, he added.
Increased consumption of mobile phones, computers and televisions is driving the domestic demand for the industry in India.
“While the sales of PCs have reached 7.3 million units a year, about 8-10 million mobile phones are sold. The market for colour televisions has also increased to about 15 million units a year,” he said.
Singh noted that with the relaxation in import policies and progressive reduction in duties, import of manufactured components has increased, which has in turn suppressed the domestic demand.
Agencies
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