The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
The sector will see a minimum of 3-5 per cent of the weight being shed in almost every IT company - particularly the big 20 - because of Covid and not performance-related issues.
Telecom equipment maker Alcatel-Lucent unveiled plans on Tuesday to cut an overall 10,000 jobs worldwide by the end of 2015, hoping to save 1 billion euros ($1.36 billion) and turn the company around after years of losses.
IBM employed a total of 434,246 persons globally at the end of 2012.
James Taylor, Smith's deputy, has had his job title change from England selector to head scout.
An estimated 10,000 to 20,000 jobs will be axed, according to a media report
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank's India employees a glimmer of hope. The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse's India unit and better synergies at key verticals, such as wealth management and investment banking. "UBS is a much stronger hand. Coming within its fold will give Credit Suisse's wealth management and investment banking divisions a good home.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
While Indian IT has known what is coming and has a strategy ready to combat it, the same can't be said about the country and the government.
'In the short term the relationship will get worse.'
'Article 370 offered very important protections that were related to people's day to day lives.'
Google will lay off 12,000 jobs across the globe, its CEO Sundar Pichai announced on Friday, becoming the latest tech giant after Microsoft, Facebook and Amazon to retrench staff en mass amid the global economic downturn. In an email to employees, the Indian-origin CEO said: "I have some difficult news to share. We've decided to reduce our workforce by approximately 12,000 roles." Pichai said the layoffs at Google were carried out after a "rigorous review" of its operations.
Networking solutions giant Cisco will lay off up to 6,000 employees globally, including India, after it reported a marginal decline in profits and revenues for the fourth quarter.
The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.
Back- and middle-office positions that support trading functions and provide technology services will be cut
Trends that added colour to workplace culture in 2022.
The new definition under the Code of Wages, 2019, includes three components: basic pay, dearness allowance and retention payment.
Valverde's knowledge of Barca and his many years of experience of coaching in Spain saw him pip Argentine Jorge Sampaoli and Luis Enrique's assistant Juan Carlos Unzue to the top job.
This is part of an 'aggressive and decisive set of action' to shore up the company.
The country's largest private lender HDFC Bank's bad-loan write-offs doubled to Rs 3,100 crore in the April-June quarter (first quarter, or Q1) of 2021-22 (FY22), from the level of Rs 1,500 crore in the same quarter of 2020-21 (Q1FY21). It also offloaded its non-performing assets (NPAs) amounting to Rs 1,800 crore in Q1FY22 to maintain a robust asset quality profile. It had jettisoned NPAs worth Rs 1,000 crore in the last quarter. Lenders knock off stress assets from books after making full provisions. Their right to recover dues from delinquent borrowers remains intact after the write-downs.
'If we chose to do the right things, it is possible to avoid job losses at a mass scale,' ABB MD Sanjeev Sharma tells Raghu Krishnan.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
A recent research found that those in high-stress jobs with little control over their workflow die younger or are less healthy than those who have more flexibility and discretion in their jobs and are able to set their own goals.
Lufthansa has terminated the services of 103 India-based flight attendants after they allegedly sought "job assurance" from the management while the German airlines group had offered them leave without pay option for two years, sources close to the developments said.
It should cover mandatory expenses, insurance premiums and loan installments for six months to a year.
The UK steel industry is struggling for survival in the face of extremely challenging market conditions.
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
European Union steel prices hit their lowest since 2004
Employers are now looking to hire professionals who can demonstrate their skills rather than reel off a catalogue of undirected theoretical qualifications.
Ford India has offered a "final revised severance package" for its employees at the Chennai unit, which is on average equivalent to 130 days of gross wages per completed year of service. The company said this was rolled out in the absence of any suitable alternative buyer. As part of the earlier package, employees were offered 115 days of gross wages for each completed year of service, which was later revised to 124 days.
UK-headquartered consumer goods giant Unilever on Tuesday announced a major organisational shakeup to make the company leaner, which involves some of its Indian-origin executives, and plans to lay off 1,500 staff as part of the wider restructuring of its global operations. Sanjiv Mehta retains executive leadership of Mumbai-headquartered subsidiary Hindustan Unilever, while Unilever chief operating officer (COO) Nitin Paranjpe will take on a new role as chief transformation officer & chief people officer, leading the business transformation and heading the HR function for the transformed organisation. The company said Sunny Jain, president of beauty & personal care, has decided to leave Unilever to set up an "investment fund in technology megatrends".
According to media reports, Qantas Chief Executive Alan Joyce said the result was unacceptable and the company would slash 5,000 full-time equivalent positions.
India's stiff labour laws were one key issue that Apple CEO Tim Cook discussed with Prime Minister Modi on his recent visit.
As large-scale layoffs begin at Facebook's parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging "this is especially difficult if you're here on a visa" and offering support to those impacted. Meta announced that it is laying off 11,000 employees or 13 per cent of its workforce, with Zuckerberg describing it as "some of the most difficult changes we've made in Meta's history." US-based technology companies hire a large amount of H-1B workers, the majority of whom come from countries such as India.
Pichai and Page may prove to be a great partnership - one an ace executor and other a tech visionary
"As part of the restructuring, HP expects approximately 27,000 employees to exit the company, or 8 per cent of its workforce as of October 31, 2011, by the end of fiscal year 2014," the company said in a statement.
Unacademy is conducting another round of job cuts and laying off 350 employees or 10 per cent of its workforce of 3,500, as the SoftBank-backed edtech firm targets profitability and reduces costs, according to an internal note sent by Gaurav Munjal, co-founder and CEO of Unacademy group, to the staff. Munjal said the restructuring exercise would affect about 10 per cent of employees across the group. "I am deeply saddened to share that we will have to say goodbye to some of our extremely talented Unacademy employees," said Munjal in the letter addressed to employees and reviewed by Business Standard.
