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.
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.
The company will also stop company-funded home internet access for those working from home from May 1.
Young professionals who lost their jobs tell Rediff.com's Divya Nair how they reclaimed their lives.
There were reports that Infosys had laid off 500 people in the aftermath of losing its multi-million pound deal with the Royal Bank of Scotland.
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.
Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
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.
Djokovic, who is aiming for a fifth Wimbledon title and his 16th Grand Slam crown, plans to play only one or two exhibition matches in the build-up to the grasscourt major.
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.
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.
Six times a men's singles champion Down Under, the Serbian will be joined in making a return at MelbournePark by 2008 women's champion Maria Sharapova, who missed last year's tournament because of a doping ban.
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.
"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.
Reskilling and online certification are the biggest earners in the Indian online education market
"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.
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.
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.
'Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy,' advises Akash Prakash.
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.
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.
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.
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.
"There will be no layoffs in the Indian context and, as said before, we will be recruiting 25,000 people gross. We will make our people prepared for the upturn, which will happen. We are focusing on recruiting people and training them. We are focusing on education as this is a great opportunity to make a positive brand and image for the company. We are still seeing opportunities in the market," said Kris Gopalakrishnan, CEO, Infosys.
Chelsea's rapid improvement under coach Guus Hiddink continued on Sunday when Michael Essien's goal earned a 1-0 home win over Manchester City which moved them back into second place in the Premier League. Essien, recently back from a long layoff with a knee injury, beat City keeper Shay Given in the 18th minute to seal the victory that left Chelsea four points behind leaders Manchester United who lost 4-1 at home to Liverpool on Saturday.
The company stated that it was taking steps for cost rationalisation across all businesses to maintain liquidity and due to a prolonged slowdown it had to take a few tough measures.
