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.
Iterating its commitment to India operations, Barclays India said: "We continue to be fully committed to our long term plans in the country. Barclays India, which is part of British banking giant Barclays Plc, has six entities operating in India employing more than 5,000 people.
According to Jagat M Sarkar, head of HR, e-Rev Max, a product company which has its main development centre in Kolkata and presence in 60 countries, "In the given scenario, there will be increased focus on getting quality manpower. Salary hikes too would be hit. Those on the bench and non-performers are jittery too as companies plan on pink slips.
Xerox India Managing Director Andrew Horne said, 'In the current uncertain economic environment, every company is looking at how it can improve operational efficiency... We are amalgamating some roles. In all, 24 roles are disappearing. The decision on timing has been accelerated by pressures caused by the challenging business environment.'
The shrinking sales of residential apartments have forced real estate developers in Pune to even pay the monthly home loan installments of their customers who have lost jobs due to the economic slowdown.
As many as 62 per cent of employed Indians surveyed by TNS and Gallup International felt confident that their present jobs are safe. However, 57 per cent of citizens in India expect that unemployment would increase in the country during 2009, market information provider TNS said in its Voice of the People End of the Year Survey.
More than 21 lakh individuals have become jobless in the US ever since the world's largest economy entered into recession last December, with more number of employers resorting to mass layoff actions.
With times as tough as they've been of late, financial worries are taking a toll on other aspects of our lives, especially relationships. What are your views on marrying for money?
The development in West Bengal follows a series of protests by traders and political parties in Orissa and Uttar Pradesh which has forced the company to put its plans in Uttar Pradesh on hold. It is also rethinking its strategy in Orissa.
Have you been fired from your job recently? Or do you fear it will happen soon? Here are a few tips on how you can survive a layoff, financially.
India's fourth largest IT firm Satyam Computer Services is likely to give pink slips to 2,500 employees. The company's share price fell 9.5 per cent to Rs 368.15 on Monday.Satyam had a total headcount of 52,000 as of June-end. The company has already put some of its employees under performance improvement plan.
Observing that the H-1B work visa programme helps hire the best available talent of the world, American software giant Microsoft has said H-1B visa holders have contributed significantly to its success.
While outplacement is a relatively new concept in India, it helps boost morale at the time of layoffs.
Kamal Mansharamani of AlmaMate hosted a chat for IT graduates on how to make themselves employable in the IT/ITES sector.
Here's how you can make a financial plan that will help you create wealth even in the face of an economic meltdown.
The sea-facing desert city has been hit by a spate of redundancies recently, following the worldwide financial meltdown, which has affected its much vaunted real estate sector. The lay-offs affect both the locals as well as expatriates, mostly from the Indian sub-continent.
On slashing down prices, P Balendran, vice-president GM India, said the firm which had been offering discounts ranging from Rs 20,00 to Rs 50,000 across the range, besides a discount of Rs 3,000 to Rs 5,000 to government and PSUs during the festival season would continue it (discount) till the end of this month.
December and January can bring a blizzard of pink slips.
In an effort to control costs, Chennai-based IT solutions provider Ramco Systems has decided to slash the salaries of senior managers by 10-15 per cent. The move is likely to affect close to 220 of its 1,663 employees.
Says more than 120 who lost jobs have approached it; TCS says workforce optimisation leads to some involuntary attrition, nothing out of ordinary
In this article we will discuss a strategy/plan that needs to be adopted to take the preparation to the next level in the coming days across each of the three sections that one has seen in CAT over the last few years.
The global recession is taking a toll and the tremors are being felt in India as well. On Wednesday, Jet Airways sacked 1,900 employees, many others are likely to follow suit.
As a slowdown looms, Indians remain optimistic, albeit cautiously so. The survey is the largest bi-annual study of its kind. The April round covered 28,253 Internet users in 51 markets. The previous leg was conducted on 26,000 people across 48 countries.
The rating system requires more transparency and better communication because it lies to employees
Faced with criticism over offshoring jobs to India and other developing countries, IBM Corp has adopted new internal transfer policies aimed at filling vacant positions in the company with workers who would otherwise get a pink slip.\n\n\n\n
Assembly elections are due in the state in September.
Jahnavi Kaushik, a customer care executive with a BPO, was shocked when an overseas caller abused her and blamed India for his pink slip. As the controversy on outsourcing snowballs, the BPO industry in India has started facing backlash calls.
The country would see more economic progress if the private sector was left to run business without government interference, Infosys founder N R Narayana Murthy has said at the Jaipur Literature Festival.
Is there no 'normal' background? Sure there is.
Evaluation gets tougher as companies battle uncertain macro conditions and automation.
The company, which has been in the news recently for all the wrong reasons, maintains that it was forced to rationalise the staff strength as improvements in technology resulted in certain redundancies in customer, merchant and delivery partner support teams.
Sources estimated the number of employees asked to leave because of downsizing stands at about 100.
From almost a thousand employees, 300 have exited the firm.
Young professionals who lost their jobs tell Rediff.com's Divya Nair how they reclaimed their lives.
SpiceJet is conducting a strategic review of fleet and network, which could see staff reductions and a possible phase out of Bombardier Q400 planes in three months.
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.
Flipkart also faced criticism earlier this year after it deferred the joining dates for campus recruits from the Indian Institutes of Management and Indian Institutes of Technology
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