Educomp starts cost optimisation; cuts 3,500 jobs

Education solutions provider Educomp Solutions today said it has cut 3,500 jobs in the last three months and has also initiated measures to spur growth.

"Educomp has announced a slew of measures aimed at putting the company back on a growth trajectory at a time when market sentiment is adversely impacting bottom lines across industry and has pushed the education sector into negative growth territory," it said in a release.

The plan entails modifications in structure, systems and sales strategies to return the firm to profitability in the current and following fiscal. Within this transformational plan, a series of tactical steps have been identified to fast-track the correction, it added.
Source: IndiaTimes

US tech giants face uncertain future

Outsiders often think of Silicon Valley as a constantly changing landscape, a place where fortunes rise and fall with the next great idea. Now some of the technology industry's biggest names are finding out that once you fall behind, it is pretty hard to catch up. 

Hewlett-Packard announced several significant personnel changes, along with sharply lower revenue and narrower operating profit margins. It was the latest in a string of disappointing earnings news from big technology companies that has some asking if the industry, after at least five years of growth, is finally slowing down. 
Click here to Read more. 

Corporates cutting jobs to to save costs: Study

Faced with a tough economic scenario, corporates are cutting jobs and rationalising manpower to save on costs and the situation is likely to get worse in coming days, according to an Assocham study. 

"Alongwith the increasing number of corporates rushing to banks for debt restructuring, scores of them are also being forced to go in for manpower rationalising, reducing the headcount to save costs which they are unable to bear in the face of a difficult economic environment," according to the Assocham report on on Impact of Slowdown on Employment. 

The sad part is the situation is likely to become worse, rather than improve, in the weeks to come and the pain would only increase, it said. 

The companies resorting to rationalisation of manpower belong to sectors like infrastructure, gems and jewellery, educational solutions, realty, non-banking finance companies, especially in the gold-loan segment, media and public relations. 
Source: http://economictimes.indiatimes.com/news/news-by-industry/jobs/corporates-cutting-jobs-to-to-save-costs-study/articleshow/21939363.cms

Adaequare plans to hire 150 professionals by March end

Data engineering and analytics solutions provider Adaequare plans to hire 150 professionals by end of this fiscal. 

The Hyderabad-based company is also looking to acquire small-sized companies with niche tools to drive growth. 

"Adaequare is looking at a good mix of organic and inorganic growth to continue staying ahead of the curve in the Data Engineering and Analytics space. We plan to hire 150 professionals by end of this fiscal," said Raju Bhupati, who has been elevated to the position of COO, said in a statement. 

"We are also looking at acquiring small firms with 30-50 people in areas such as testing. A few firms are on the radar. We are evaluating them," he said.

Indians third largest immigrant group in US: Study

Indians have emerged as the third-largest immigrant group in the US behind Mexicans and Chinese, with nearly 1.9 million of them living in the country, a new study by an American thinktank has said. 

Indian population in the US has grown to over 150 times its size since 1960, when the slightly more than 12,000 Indian immigrants represented less than 0.5 per cent of the total immigrant population of 9.7 million immigrants, a study by Migration Policy Institute has found. 

Till 2011, Indian-born immigrants accounted for almost five per cent (1.86 million) of America's 40.4 million immigrants. 

Almost one-third of all Indian immigrants resided in just two states- California and New Jersey. More than a quarter of them lived in three major metropolitan areas- New York, Chicago and San Jose. 

Two per cent of all unauthorised immigrants in the United States were also from India. 
Source: http://economictimes.indiatimes.com/news/nri/indians-third-largest-immigrant-group-in-us-study/articleshow/22003774.cms

Dell may lay off 1,000 employees in Mohali

About 1,000 employees of American multinational Dell may lose their jobs in India over the next six months as the Texas-based computer hardware, software and services provider plans a significant rightsizing exercise for its international services business here, according to sources with knowledge of the development.

Sources say the company is planning to shut down its international services operations in Mohali which employs about 1,300 people. When contacted, a Dell spokesperson said the company does not comment on rumours or speculation. 
Source: http://timesofindia.indiatimes.com/tech/careers/job-trends/Dell-may-lay-off-1000-employees-in-Mohali/articleshow/21995694.cms