Trying to adapt to changing market requirements amid recessionary conditions, corporate giants including Microsoft, IBM and Yahoo Inc are not only cutting jobs but are at the same hiring people in other business units, a media report says.
Halving the productivity-linked incentive will make its salary levels unattractive and put a heavier burden on junior staffers.
Anil Ambani Group firm Reliance Money on Monday said it is undertaking a performance monitoring exercise for its staff which could result in separation of about 300 employees due to their under-performance.
Facing a layoff is fast becoming more and more a real prospect for many professionals. To keep your job, you need to work smart not and do whatever it takes to make sure you are crucial to your company.
With the financial crisis ebbing, the pace of vanishing employment has come down in recent months as against an average of a whopping 9,000 job losses daily in the beginning of this year.
According to Jason White, leader of Hewitt's business performance improvement, cost-cutting and layoffs are amongst the biggest concerns of companies today. He urges struggling firms to change the way people are organised, utilised and managed.
The company will also stop company-funded home internet access for those working from home from May 1.
The survey, conducted by US-based legal services firm Robert Half Legal, one out of every four legal professionals working with American and Canadian law firms believes that his organisation will start hiring in the next one year. The survey found that two practice areas of law -- bankruptcy (51 per cent) and litigation (31 per cent) -- are expected to experience the most growth.
Since the acquisition by Tata Steel in January 2007, which catapulted the domestic steel major to the world's sixth, this is the first layoff announced by the Corus.
The US saw a staggering 467,000 job losses in June, pushing the unemployment rate to a 26-year high of 9.5 per cent, indicating that economic revival may take longer time than anticipated.
Don't dig into personal reserves, avoid personal and short-term loans.
While knowing the limits of his body and full of praise for his team for being able to patch him up repeatedly, the 37-year-old admitted fortune has played a part in his longevity.
The 33-year-old, who has taken a break from Tests to manage his workload, missed the final of South Africa's domestic 50-overs tournament with a back injury, which also kept him out of Royal Challengers Bangalore's IPL opener against Delhi.
Full recovery may still be a good way off, but the job market is showing clear signs of improvement.
Beleaguered Satyam management, struggling to set its house in order, is facing a major challenge to fight rumours and disinformation particularly relating to employees and their salaries.
People who are close to retirement and don't intend to go back to full-time work again should deploy a part of their VRS money in equities so that it keeps growing at a faster rate.
It is not clear which groups of the Indian operations have been affected by the cuts which are learnt to have been carried out across diverse functions. However, a company source said that a sizeable number of Microsoft's sales and support personnel in Hyderabad and a few in Bangalore were among those affected. The Response Windows team has also been dismantled completely, the source claimed.
Planned job cuts announced by US employers totalled 132,590 in April, a 12 per cent drop from the 150,411 layoffs recorded the previous month. This is the third consecutive decline in monthly job cut announcements and the lowest total since 112,884 cuts were announced last October, a report by global outplacement consultancy firm Challenger, Gray & Christmas said.
The California-based company is also planning to hire 130 professionals in India in areas like product engineering. A company spokesperson, however, declined to comment.
The most experienced administrator in the country seems to have sat back and allowed bureaucrats and policemen to manage the lockdown, observes Jyoti Punwani.
"Employees who have been consistently demonstrating poor performance were counselled out. Less than 1 per cent of our 11,250 employees in Chennai and 11,496 employees in Hyderabad have been impacted. As for the Thiruvananthapuram centre, less than 1 per cent of the 1,800 employees were impacted," said Mohandas Pai, member of the board, director, human resources, Infosys Technologies.
Lessons from entrepreneurs who have launched businesses in the last 18 months.
"About 450 head office and support staff are being made redundant by Woolworths as the turmoil surrounding the stricken retail chain's future continues," the Guardian website said. Deloitte, which has been appointed as the administrator for the collapsed retail chain said that the job cuts would be in Woolworths' Central London and Rochdale offices and not in the 815 stores of Entertainment UK, its DVD and CD distribution business, The Times said.
The story of gloom and doom continues to haunt the US economy. With advertising revenue going downhill, two of US newspaper majors -- The New York Times and The Washington Post -- plan another round of pay cuts and layoffs. Facing financial difficulties, the New York Times Company has imposed five per cent temporary pay cut for most employees and laid off 100 workers.
Citigroup's Indian origin CEO Vikram Pandit, who has been on a major restructuring drive, including thousands of layoffs, since taking charge late last year, has asked his colleagues to help transform the "best financial institution" into the world's top-most company.
In beating Czech Tomas Berdych in straight sets, the Swiss became the first man to reach 11 finals at the All England Club -- making the contention that, after knee surgery and a six-month layoff, he is back to his best at 35 more compelling than ever.
Amid speculation that there would be reduction in number of H-1B visas, which has attracted large number of Indian professionals, a top immigration expert has said that the quota of 65,000 will get capped as the filing opens on April 1.
Revival hopes of the diamond industry have been dashed as gems and jewellery manufacturers feel that little help has been provided to them in the Interim Budget for 2009-10.
Maria Sharapova continued her build-up for Wimbledon by winning back-to-back matches to reach the quarter-finals of the Edgbaston Classic on Thursday.
Of all the tremors to rock the start-up world of late -- Snapdeal's layoffs, Stayzilla's shutting down, Flipkart's frequent devaluations -- nothing will match the rumble at ShopClues for poignancy.
Maria Sharapova's Grand Slam comeback ended in the French Open quarter-finals on Tuesday after she was demolished 6-0, 6-2 by Slovak Dominika Cibulkova.
Maria Sharapova came back from a break down in the decider to book her place in the third round of the French Open with a 6-2, 1-6, 8-6 victory over fellow Russian and 11th seed Nadia Petrova on Wednesday.
Home loan borrowers perpetually worry about the consequences of defaulting. And whether they wish it or not, there could be situations where they are forced to do so. For instance, after the Mumbai bomb blasts on July 11 2006, a large number of affected families found themselves in deep financial trouble leading to difficulties in servicing their home loans
The Forbes annual ranking of fiction's richest.
'India is in a slowdown which most of us have not seen in our living memory.'
The whopping numbers are just a continuation of a strained labor market as employers in America slashed 5,33,000 jobs in the month of November, the maximum downsizing in 34 years. Right from telecom giant AT&T to battered banking major Credit Suisse to steel maker ArcelorMittal, the layoffs are spread across the sectors, amid the worst financial turmoil since the Great Depression of 1930s.
According to the Financial Times, Credit Suisse will be trimming its workforce by 10 per cent leading to job loss for 650 employees, while HSBC said it was slashing 500 jobs. Credit Suisse has been impacted by the loan writedowns, which has led to two quarters of losses for Switzerland's second-largest bank this year, the report said.
Employees with higher emotional intelligence are better equipped to handle internal changes in companies especially in the times of recession where various cost-cutting measures such as job slashes and layoffs are becoming the norm, according to a new survey.
Cuban faces insider trading charges for avoiding a $750,000 loss on an investment in an Internet search company.
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