Cognizant has announced bonuses for its employees globally for the calendar year 2009, seeking to reward employees after it posted strong growth in a difficult year.
The Nasdaq-listed company,which competes with TCS, Infosys and Wipro, confirmed the bonus payout but did not give out figures. However, people close to the situation told ET Now that the top performers got as much as 200% bonus, a number which is unprecedented in recent years, when IT companies felt the brunt of the recession in their major markets. They also added that a vast majority of employees got bonuses between 150-200%.
Cognizant’s performance-linked incentives are tied to the variable part of the compensation, which is about 10-15 percent at junior levels and goes to as high as 40 percent of the total compensation at senior levels.
Showing posts with label IT market. Show all posts
Showing posts with label IT market. Show all posts
Wednesday, March 17, 2010
IT market
Facebook beats Google once again!
Facebook has reportedly surpassed Google to become the most visited Web site in the US for the entire last week for the first time, according to the research firm Hitwise.
This is for the first time that Facebook beat Google for an entire week at a stretch. Before this, the social network took the top spot on a few US National holidays like Christmas Eve, Christmas Day, New Year's Day and the weekend of March 6th and 7th this year, which was the long Presidents Day weekend.
According to Hitwise, Facebook's visits increased 185 percent past week compared to the same week in 2009, while visits to Google increased 9 percent during the same time frame.
Analytics company comScore reported that Facebook search queries in the US grew by 10 percent in February to 436 million, up by 85 million over December's 351 million searches.
Facebook currently has more than 400 million active users. Together Facebook and Google accounted for 14% of all US Internet visits last week.
This is for the first time that Facebook beat Google for an entire week at a stretch. Before this, the social network took the top spot on a few US National holidays like Christmas Eve, Christmas Day, New Year's Day and the weekend of March 6th and 7th this year, which was the long Presidents Day weekend.
According to Hitwise, Facebook's visits increased 185 percent past week compared to the same week in 2009, while visits to Google increased 9 percent during the same time frame.
Analytics company comScore reported that Facebook search queries in the US grew by 10 percent in February to 436 million, up by 85 million over December's 351 million searches.
Facebook currently has more than 400 million active users. Together Facebook and Google accounted for 14% of all US Internet visits last week.
IT market
Facebook to set up centre in Hyderabad
Social networking site Facebook today announced that it will set up its office in Hyderabad to support the growing number of users, advertisers and developers in India and globally.
Facebook has seen exponential growth in recent months and has more than eight million active users in India, it said in a statement.
The rising popularity of Facebook has also come as a threat to various other social networking sites like Orkut, MySpace and Flickr.
It has more than 400 million active users worldwide.
The centre will house online advertising and developer support teams and provide round-the-clock, multi-lingual support to its users and advertisers globally, it further said.
The new centre in Hyderabad will supplement operations out of California, Dublin, Ireland and a recently announced location in Austin, Texas.
It has already started its hiring procedure for the Hyderabad centre.
"We expect our new office in Hyderabad to tap into the region's strong pool of talented people who understand operations and technology, and help us more effectively serve the needs of our users, advertisers, and developers around the world," Facebook Director (Global Online Operations) Don Faul said.
Facebook has seen exponential growth in recent months and has more than eight million active users in India, it said in a statement.
The rising popularity of Facebook has also come as a threat to various other social networking sites like Orkut, MySpace and Flickr.
It has more than 400 million active users worldwide.
The centre will house online advertising and developer support teams and provide round-the-clock, multi-lingual support to its users and advertisers globally, it further said.
The new centre in Hyderabad will supplement operations out of California, Dublin, Ireland and a recently announced location in Austin, Texas.
It has already started its hiring procedure for the Hyderabad centre.
"We expect our new office in Hyderabad to tap into the region's strong pool of talented people who understand operations and technology, and help us more effectively serve the needs of our users, advertisers, and developers around the world," Facebook Director (Global Online Operations) Don Faul said.
IT market
What China loses with Google
Source: IndiaTimes
China without Google a prospect that looks increasingly likely could mean no more maps on mobile phones. A free music service that has helped to fight piracy might be in jeopardy.
China's fledgling Web outfits would face less pressure to improve, eroding their ability to one day compete abroad. The extent of a possible Google Inc pullout from China in its dispute with the communist government over censorship and hacking is unclear.
But on top of a local search site that Google says it may close, services that might be affected range from advertising support for Chinese companies to online entertainment.
"If Google leaves, it's a lose-lose scenario, instead of Google loses and others gain," said Edward Yu, president of Analysys International, a Beijing research firm. Chinese news reports say Google is on the verge of shutting its China site, Google.cn, and has stopped censoring results.
A Google spokesman, Scott Rubin, denied censorship had stopped and would not confirm whether Google.cn might close. "We have not changed our operations in China," Rubin said by phone from Google's headquarters in Mountain View, California.
CEO Eric Schmidt said last week something would happen soon, and Rubin said he had no further details. Google says it is in talks with Beijing following its January 12 announcement that it no longer wants to comply with Beijing's extensive Web controls.
But China's industry minister insisted that the company must obey Chinese law, which appears to leave few options other than closing Google.cn, which has about 35 per cent of China's search market. Such a step could have repercussions for major Chinese companies as well as local Web surfers.
It would deliver a windfall to local rival Baidu Inc, China's major search engine, with 60 per cent of the market. But other companies rely on Google for search, maps and other services and might be forced to find alternatives.
China Mobile Ltd, the world's biggest phone company by subscribers, with 527 million accounts, uses Google for mobile search and maps. Baidu offers mobile search but China Mobile passed up a partnership with it earlier after they failed to agree on terms, according to industry analysts.
Millions of mobile customers might lose access to Google's Chinese-language map service. A key issue is whether Beijing, angry and embarrassed by Google's public defiance, would allow the company to continue running other operations, including advertising and a fledgling mobile phone businesses in China if Google.cn closes. China promotes Internet use for business and education but bars access to sites run by human rights and political activists and some news outlets.
Officials who defend China's controls by pointing to countries that bar content such as child pornography are stung that Google has drawn attention to how much more pervasive Chinese limits are. Chinese Web surfers are blocked from seeing Facebook, YouTube, Twitter and major blog-hosting services abroad and a Google pullout would leave them increasingly isolated.
Google hopes to keep operating its Beijing research and development center, advertising sales offices and mobile phone business, according to a person familiar with the company's thinking. But the person said the company won't do that if it believes its decision to stop censoring search results will jeopardize employees in China.
Industry analysts estimate Google has a workforce of 700 in China. The government says Chinese mobile phone carriers will be allowed to use Google's Android operating system but there has been no word on whether efforts to sell its own phones in China might be affected.
Google postponed the launch of two phones with a major Chinese carrier due to the dispute. Uncertainty also surrounds Google's China music portal, a free, advertising-supported service launched last year in partnership with four global music companies and 14 independent labels.
Industry analysts say it has helped to undercut China's rampant music piracy by offering an alternative to unlicensed copying. The music service is run by Top100.cn, a company part-owned by Google, but can be accessed only through Google.cn.
Employees at Top100.cn referred questions to executives who did not immediately answer phone calls. "Without that, are we back to, 'Piracy wins'?" said Duncan Clark, managing director of BDA China Ltd, a technology market research firm.
"Piracy thrives because of censorship." The biggest impact of a Google departure could lie behind the scenes, where Chinese companies, many of them small entrepreneurs, rely on its AdWords advertising service, Gmail email and documents services.
Those might be disrupted if Beijing turns up Internet filters to block access to Google's sites abroad. Its US site has a Chinese-language search engine but is already inaccessible due to government filters.
In an uncomfortable irony for Beijing, Google might suffer little commercial loss from a pullout while China's own companies are hurt. The bulk of Google's estimated $300 million in 2009 revenues in China came from export-oriented companies that would need to keep advertising on its sites abroad even if Google.cn closes, according to Yu. "We believe the majority of revenue would still be kept on, with keyword purchases listed on Google.com instead of Google.cn," he said.
The loss of competitive pressure from Google also might slow Chinese development in search and other Internet services, Yu said. "This is definitely a bad thing for Chinese companies that want to go abroad in the future," he said.
The industry minister, Li Yizhong, said on Friday that China's Internet industry would develop without Google. But even some Chinese industry leaders who normally toe the government line in public are warning that controls on Internet companies and media are handicapping their growth.
Beijing has steadily tightened controls over Internet content and foreign investment in the industry. Video sharing sites must have state-owned media outlets as partners.
People in the industry say it is getting harder to register privately financed sites. "Without full and fair market competition, there will be no quality, no excellence, no employment opportunities, no stability and no real rise of China," said the chairman of major Chinese portal Sohu Inc., Charles Zhang, in a speech in February, according to a report on Sohu's Web site. "How do we do this practically?" Zhang said.
"The problem is complicated, but the fundamental point is to limit the power of the government."
Source: IndiaTimes
China without Google a prospect that looks increasingly likely could mean no more maps on mobile phones. A free music service that has helped to fight piracy might be in jeopardy.
China's fledgling Web outfits would face less pressure to improve, eroding their ability to one day compete abroad. The extent of a possible Google Inc pullout from China in its dispute with the communist government over censorship and hacking is unclear.
But on top of a local search site that Google says it may close, services that might be affected range from advertising support for Chinese companies to online entertainment.
"If Google leaves, it's a lose-lose scenario, instead of Google loses and others gain," said Edward Yu, president of Analysys International, a Beijing research firm. Chinese news reports say Google is on the verge of shutting its China site, Google.cn, and has stopped censoring results.
A Google spokesman, Scott Rubin, denied censorship had stopped and would not confirm whether Google.cn might close. "We have not changed our operations in China," Rubin said by phone from Google's headquarters in Mountain View, California.
CEO Eric Schmidt said last week something would happen soon, and Rubin said he had no further details. Google says it is in talks with Beijing following its January 12 announcement that it no longer wants to comply with Beijing's extensive Web controls.
But China's industry minister insisted that the company must obey Chinese law, which appears to leave few options other than closing Google.cn, which has about 35 per cent of China's search market. Such a step could have repercussions for major Chinese companies as well as local Web surfers.
It would deliver a windfall to local rival Baidu Inc, China's major search engine, with 60 per cent of the market. But other companies rely on Google for search, maps and other services and might be forced to find alternatives.
China Mobile Ltd, the world's biggest phone company by subscribers, with 527 million accounts, uses Google for mobile search and maps. Baidu offers mobile search but China Mobile passed up a partnership with it earlier after they failed to agree on terms, according to industry analysts.
Millions of mobile customers might lose access to Google's Chinese-language map service. A key issue is whether Beijing, angry and embarrassed by Google's public defiance, would allow the company to continue running other operations, including advertising and a fledgling mobile phone businesses in China if Google.cn closes. China promotes Internet use for business and education but bars access to sites run by human rights and political activists and some news outlets.
Officials who defend China's controls by pointing to countries that bar content such as child pornography are stung that Google has drawn attention to how much more pervasive Chinese limits are. Chinese Web surfers are blocked from seeing Facebook, YouTube, Twitter and major blog-hosting services abroad and a Google pullout would leave them increasingly isolated.
Google hopes to keep operating its Beijing research and development center, advertising sales offices and mobile phone business, according to a person familiar with the company's thinking. But the person said the company won't do that if it believes its decision to stop censoring search results will jeopardize employees in China.
Industry analysts estimate Google has a workforce of 700 in China. The government says Chinese mobile phone carriers will be allowed to use Google's Android operating system but there has been no word on whether efforts to sell its own phones in China might be affected.
Google postponed the launch of two phones with a major Chinese carrier due to the dispute. Uncertainty also surrounds Google's China music portal, a free, advertising-supported service launched last year in partnership with four global music companies and 14 independent labels.
Industry analysts say it has helped to undercut China's rampant music piracy by offering an alternative to unlicensed copying. The music service is run by Top100.cn, a company part-owned by Google, but can be accessed only through Google.cn.
Employees at Top100.cn referred questions to executives who did not immediately answer phone calls. "Without that, are we back to, 'Piracy wins'?" said Duncan Clark, managing director of BDA China Ltd, a technology market research firm.
"Piracy thrives because of censorship." The biggest impact of a Google departure could lie behind the scenes, where Chinese companies, many of them small entrepreneurs, rely on its AdWords advertising service, Gmail email and documents services.
Those might be disrupted if Beijing turns up Internet filters to block access to Google's sites abroad. Its US site has a Chinese-language search engine but is already inaccessible due to government filters.
In an uncomfortable irony for Beijing, Google might suffer little commercial loss from a pullout while China's own companies are hurt. The bulk of Google's estimated $300 million in 2009 revenues in China came from export-oriented companies that would need to keep advertising on its sites abroad even if Google.cn closes, according to Yu. "We believe the majority of revenue would still be kept on, with keyword purchases listed on Google.com instead of Google.cn," he said.
The loss of competitive pressure from Google also might slow Chinese development in search and other Internet services, Yu said. "This is definitely a bad thing for Chinese companies that want to go abroad in the future," he said.
The industry minister, Li Yizhong, said on Friday that China's Internet industry would develop without Google. But even some Chinese industry leaders who normally toe the government line in public are warning that controls on Internet companies and media are handicapping their growth.
Beijing has steadily tightened controls over Internet content and foreign investment in the industry. Video sharing sites must have state-owned media outlets as partners.
People in the industry say it is getting harder to register privately financed sites. "Without full and fair market competition, there will be no quality, no excellence, no employment opportunities, no stability and no real rise of China," said the chairman of major Chinese portal Sohu Inc., Charles Zhang, in a speech in February, according to a report on Sohu's Web site. "How do we do this practically?" Zhang said.
"The problem is complicated, but the fundamental point is to limit the power of the government."
Source: IndiaTimes
Friday, January 29, 2010
IT market, Outsourcing, Recession
No threat to IT Inc from Obama: Gartner
IT analyst firm Gartner dismissed any threat to the over $60-billion Indian IT exports industry following US President Barak Obama's plan to stop giving tax breaks to those US companies shipping jobs abroad.
"There is no need for panic...Even if tax breaks are taken away, the US firms have to outsource because that makes business sense for them," Gartner senior research analyst Diptarup Chakroborty said.
"If the tax breaks are taken away, it is not going to impact the Indian IT industry adversely. With the global economy looking up, a lot of emerging markets are opening up. The contribution from those markets is going to offset the impact of tax breaks if any," he said.
As the overall market would be growing the problems of tax breaks will be overlooked by the firms. The software firms association Nasscom also has sought to downplay Obama's plan to slash tax breaks for companies shipping jobs abroad, saying the real worry is "protectionism" and not tax breaks.
"I think the concerns that we have is about indirect protectionism. I don't think tax break issue is really the one which is important for us. Obama's comment was not related to outsourcing. It's about US companies operating in regions where they get tax benefits," Nasscom VP Ameet Nivsarker said.
"There is no need for panic...Even if tax breaks are taken away, the US firms have to outsource because that makes business sense for them," Gartner senior research analyst Diptarup Chakroborty said.
"If the tax breaks are taken away, it is not going to impact the Indian IT industry adversely. With the global economy looking up, a lot of emerging markets are opening up. The contribution from those markets is going to offset the impact of tax breaks if any," he said.
As the overall market would be growing the problems of tax breaks will be overlooked by the firms. The software firms association Nasscom also has sought to downplay Obama's plan to slash tax breaks for companies shipping jobs abroad, saying the real worry is "protectionism" and not tax breaks.
"I think the concerns that we have is about indirect protectionism. I don't think tax break issue is really the one which is important for us. Obama's comment was not related to outsourcing. It's about US companies operating in regions where they get tax benefits," Nasscom VP Ameet Nivsarker said.
HCL, IT market, New Deals
HCL Tech bags Rs 231 cr Meggitt deal
Software company HCL Technologies today said it has received a contract worth around Rs 231 crore from UK-based defence equipment maker Meggitt for providing engineering services.
Meggitt signs $50 million (around Rs 231 crore) global engineering transformation services agreement with the company's engineering and R&D services (HCL ERS) division, HCL Technologies said in a filing to the Bombay Stock Exchange.
"HCL integrates the right capabilities and business models to ensure organisations such as Meggitt establish a competitive advantage," HCL ERS Senior VP and Global Head of Sales & Practice Sandeep Kishore said.
HCL was selected based on its understanding of Meggitt's business challenges and proven track record of partnering with large aerospace and manufacturing companies on highly complex engineering development programmes.
"This strategic initiative will help us respond to the current economic environment while successfully positioning us for future growth," Meggitt's Chief Executive Terry Twigger said.
Meggitt PLC is an international group operating in North America, Europe and Asia, known for its specialised extreme environment engineering. Meggitt is a leader in civil and military aerospace equipment, sensing systems, combat support and defence systems training.
Meggitt signs $50 million (around Rs 231 crore) global engineering transformation services agreement with the company's engineering and R&D services (HCL ERS) division, HCL Technologies said in a filing to the Bombay Stock Exchange.
"HCL integrates the right capabilities and business models to ensure organisations such as Meggitt establish a competitive advantage," HCL ERS Senior VP and Global Head of Sales & Practice Sandeep Kishore said.
HCL was selected based on its understanding of Meggitt's business challenges and proven track record of partnering with large aerospace and manufacturing companies on highly complex engineering development programmes.
"This strategic initiative will help us respond to the current economic environment while successfully positioning us for future growth," Meggitt's Chief Executive Terry Twigger said.
Meggitt PLC is an international group operating in North America, Europe and Asia, known for its specialised extreme environment engineering. Meggitt is a leader in civil and military aerospace equipment, sensing systems, combat support and defence systems training.
IT market
Microsoft profit up 60% to 6.7bn
Microsoft Corp. said Thursday that earnings in the most recent quarter jumped 60 per cent, helped by a rebound in personal computer sales.
The PC industry bounced back during the 2009 holiday shopping season after one of its roughest years to date. Microsoft's earnings are closely tied to computer sales because its two most profitable divisions make the Windows operating system and Office business software.
Microsoft said its net income for the fiscal second quarter that ended Dec. 31 rose to $6.7 billion, or 74 cents per share, compared with $4.2 billion, or 47 cents per share, in the year-ago period. Revenue increased 14 percent to $19 billion.
The latest version of Windows, called Windows 7, was released during the quarter. Revenue from the Windows business jumped 70 percent.
Shares of Microsoft rose 25 cents, or 0.9 percent, to $29.41 in extended trading after the release of results. Earlier, shares closed down 51 cents, or 1.7 percent, at $29.16.
The PC industry bounced back during the 2009 holiday shopping season after one of its roughest years to date. Microsoft's earnings are closely tied to computer sales because its two most profitable divisions make the Windows operating system and Office business software.
Microsoft said its net income for the fiscal second quarter that ended Dec. 31 rose to $6.7 billion, or 74 cents per share, compared with $4.2 billion, or 47 cents per share, in the year-ago period. Revenue increased 14 percent to $19 billion.
The latest version of Windows, called Windows 7, was released during the quarter. Revenue from the Windows business jumped 70 percent.
Shares of Microsoft rose 25 cents, or 0.9 percent, to $29.41 in extended trading after the release of results. Earlier, shares closed down 51 cents, or 1.7 percent, at $29.16.
IT market, New Deals, Wipro
Wipro in outsourcing deal with BAT
No. 3 Indian software-services firm Wipro Ltd said on Wednesday it signed a multi-year outsourcing deal with British American Tobacco Plc, the world's second-biggest cigarette maker.
Wipro will help British American Tobacco's application support services for global business operations, the company said in a statement. Financial details were not disclosed.
Wipro will help British American Tobacco's application support services for global business operations, the company said in a statement. Financial details were not disclosed.
IT market, Oracle
Oracle closes $7.4 bn Sun deal
Software major Oracle Corp has completed the takeover of hardware company Sun Microsystems Inc for $7.4 billion.
The deal, which was announced nine months ago, would transform the IT industry, Oracle said in a statement yesterday.
The two companies, which have a significant presence in India, together employs more than 26,000 people in the country. Oracle has more than 25,000 employees in India while Sun Microsystem has 1,200 people.
The Sun Solaris operating system is the leading platform for the Oracle database, Oracle's largest business. With the acquisition of Sun, Oracle can optimise Oracle database for some of the unique, high-end features of Solaris.
"With the addition of servers, storage, SPARC processors, the Solaris operating system, Java, and the MySQL database to Oracle's portfolio of database, middleware, and business applications, we plan to engineer and deliver open and integrated systems--from applications to disk--where all the pieces fit and work together out of the box," Oracle said.
The European Union's antitrust watchdog has approved the Sun-Oracle transaction last week saying the deal would not would restrict competition in the database's market. The approval from the EU came after months of investigation.
In April last year, Oracle has agreed to buy Sun Microsystems for $7.4 billion or $9.50 a share in cash.
The deal, which was announced nine months ago, would transform the IT industry, Oracle said in a statement yesterday.
The two companies, which have a significant presence in India, together employs more than 26,000 people in the country. Oracle has more than 25,000 employees in India while Sun Microsystem has 1,200 people.
The Sun Solaris operating system is the leading platform for the Oracle database, Oracle's largest business. With the acquisition of Sun, Oracle can optimise Oracle database for some of the unique, high-end features of Solaris.
"With the addition of servers, storage, SPARC processors, the Solaris operating system, Java, and the MySQL database to Oracle's portfolio of database, middleware, and business applications, we plan to engineer and deliver open and integrated systems--from applications to disk--where all the pieces fit and work together out of the box," Oracle said.
The European Union's antitrust watchdog has approved the Sun-Oracle transaction last week saying the deal would not would restrict competition in the database's market. The approval from the EU came after months of investigation.
In April last year, Oracle has agreed to buy Sun Microsystems for $7.4 billion or $9.50 a share in cash.
Monday, January 25, 2010
IT market
IT cos: Pinkslips in '09, attrition in '10
India's top three outsourcing companies are ramping up hiring and increasing pay as global corporations, mainly from the US, send more work offshore to cut costs as they emerge from the downturn.
Tata Consultancy Services, Infosys, and Wipro expanded their global workforces by an average of 5.1 per cent last quarter, together adding 16,701 employees, company documents show -- an early sign that the Great Recession may ultimately benefit India as cost-conscious companies outsource more work, just as they did after the dot-com bust.
Also, after about a year of hiring slowdowns, all three companies are sweetening compensation as the fight to hold on to talented employees in India heats up.
Infosys offered its Indian employees an average 8 per cent pay hike in October, their first raise since April 2008, and executives said last week they are considering another raise to combat rising attrition.
“The market is heating up and we want to retain talent,'' human resources director of Infosys Mohandas Pai told reporters.
Infosys last week raised its gross hiring target for the second time this fiscal year, to 24,000 people. Wipro executives said they plan to offer staffers a raise in February.
Tata Consultancy Services has paid out 150 per cent of performance-linked pay -- which normally amounts to 20 to 45 per cent of compensation -- for the last two quarters, and executives say they will raise salaries next quarter, after a year-long wage freeze.
As demand for workers revives, employers have begun to worry about rising staff turnover. Employees who sat tight during the downturn have started to shop around for better jobs and better salaries.
Attrition at Wipro jumped to 13.4 percent last quarter, up from an average of 8.9 percent over the prior three quarters. Attrition at Infosys rose to 11.6 percent last quarter from 10.9 percent the prior quarter. Attrition at TCS has been stable, at around 11.5 percent, though executives say they expect that number to rise.
Indian firms say they are increasing global hiring, including in the US, as they pursue higher-end work like consulting. But US employees remain a fraction of total staff.
TCS, for example, recently finished hiring 250 Americans for its Cincinnati campus, but US employees still account for less than 0.5 per cent of the company's global workforce.
The employment revival in India's outsourcing sector, which counts on the US for about 60 per cent of global sales, comes as unemployment in the US stagnates around 10 per cent -- near a 26-year high.
Inflation-adjusted wages in the US last year fell 1.6 per cent, the biggest decline since 1990.
“When there is a downturn the compulsion to control costs increases,'' said Dipen Shah, an analyst at Mumbai's Kotak Securities. “The demand for offshoring will increase. That will play to the advantage of Indian IT companies.''
He argues that the cost savings from offshoring has helped US companies survive -- and that's good for the American worker.
“You might say jobs in the US are getting displaced by jobs in India, but because of the value provided by Indian companies and lower costs, there are firms who are able to keep their heads above water and continue to employ their existing employees,'' he said.
TCS, Infosys and Wipro, which can do everything from call center management and claims processing to software development and consulting, all reported stronger than expected results for the December quarter.
Revenues and volumes grew, signaling that the cost-cutting imperative of this last, lean year may be over for India's $60 billion software services industry.
Tata Consultancy Services, Infosys, and Wipro expanded their global workforces by an average of 5.1 per cent last quarter, together adding 16,701 employees, company documents show -- an early sign that the Great Recession may ultimately benefit India as cost-conscious companies outsource more work, just as they did after the dot-com bust.
Also, after about a year of hiring slowdowns, all three companies are sweetening compensation as the fight to hold on to talented employees in India heats up.
Infosys offered its Indian employees an average 8 per cent pay hike in October, their first raise since April 2008, and executives said last week they are considering another raise to combat rising attrition.
“The market is heating up and we want to retain talent,'' human resources director of Infosys Mohandas Pai told reporters.
Infosys last week raised its gross hiring target for the second time this fiscal year, to 24,000 people. Wipro executives said they plan to offer staffers a raise in February.
Tata Consultancy Services has paid out 150 per cent of performance-linked pay -- which normally amounts to 20 to 45 per cent of compensation -- for the last two quarters, and executives say they will raise salaries next quarter, after a year-long wage freeze.
As demand for workers revives, employers have begun to worry about rising staff turnover. Employees who sat tight during the downturn have started to shop around for better jobs and better salaries.
Attrition at Wipro jumped to 13.4 percent last quarter, up from an average of 8.9 percent over the prior three quarters. Attrition at Infosys rose to 11.6 percent last quarter from 10.9 percent the prior quarter. Attrition at TCS has been stable, at around 11.5 percent, though executives say they expect that number to rise.
Indian firms say they are increasing global hiring, including in the US, as they pursue higher-end work like consulting. But US employees remain a fraction of total staff.
TCS, for example, recently finished hiring 250 Americans for its Cincinnati campus, but US employees still account for less than 0.5 per cent of the company's global workforce.
The employment revival in India's outsourcing sector, which counts on the US for about 60 per cent of global sales, comes as unemployment in the US stagnates around 10 per cent -- near a 26-year high.
Inflation-adjusted wages in the US last year fell 1.6 per cent, the biggest decline since 1990.
“When there is a downturn the compulsion to control costs increases,'' said Dipen Shah, an analyst at Mumbai's Kotak Securities. “The demand for offshoring will increase. That will play to the advantage of Indian IT companies.''
He argues that the cost savings from offshoring has helped US companies survive -- and that's good for the American worker.
“You might say jobs in the US are getting displaced by jobs in India, but because of the value provided by Indian companies and lower costs, there are firms who are able to keep their heads above water and continue to employ their existing employees,'' he said.
TCS, Infosys and Wipro, which can do everything from call center management and claims processing to software development and consulting, all reported stronger than expected results for the December quarter.
Revenues and volumes grew, signaling that the cost-cutting imperative of this last, lean year may be over for India's $60 billion software services industry.
IT market, Layoffs in USA
Xerox to cut 2,500 jobs
Xerox Corp said that it plans to cut some 2,500 jobs, or five percent of its workforce, in a cost-cutting move aimed at saving some $200 million a year.
Xerox, which had 53,600 employees at the end of December, has already slashed 3,500 jobs starting in late 2008.
The latest job cuts were announced by Xerox chief executive Ursula Burns during a presentation of the photocopier company's fourth-quarter results.
Burns said some of the job losses would come in Europe but did not give a figure. She said the restructuring would cost $280 million this year with $30 million related to Xerox's $6.4-billion acquisition of Affiliated Computer Services, the world's largest diversified business outsourcing firm.
Burns said she expected the ACS acquisition to close next month. "Once completed, Xerox will be the world leader in business process and document management," she said.
The Norwalk, Connecticut-based Xerox said net profit rose to $180 million in the fourth quarter from $1 million in the corresponding quarter a year ago.
Revenue declined by three percent to $4.22 billion, better than the $3.92 billion expected by Wall Street analysts.
"We delivered a strong close to a difficult year, with solid operational results that reflect our disciplined approach to generating cash and reducing costs," Burns said in a statement.
"During the fourth quarter, we saw signs of improvement in several areas including developing markets, and we remain quite confident in our strong global competitive position," she said
"However, we believe revenue will continue to be under pressure until there is a more sustainable economic recovery," Burns said.
"To help offset this challenge, we remain focused on cost and expense management and sizing our business to better match current revenue levels."
Xerox, which had 53,600 employees at the end of December, has already slashed 3,500 jobs starting in late 2008.
The latest job cuts were announced by Xerox chief executive Ursula Burns during a presentation of the photocopier company's fourth-quarter results.
Burns said some of the job losses would come in Europe but did not give a figure. She said the restructuring would cost $280 million this year with $30 million related to Xerox's $6.4-billion acquisition of Affiliated Computer Services, the world's largest diversified business outsourcing firm.
Burns said she expected the ACS acquisition to close next month. "Once completed, Xerox will be the world leader in business process and document management," she said.
The Norwalk, Connecticut-based Xerox said net profit rose to $180 million in the fourth quarter from $1 million in the corresponding quarter a year ago.
Revenue declined by three percent to $4.22 billion, better than the $3.92 billion expected by Wall Street analysts.
"We delivered a strong close to a difficult year, with solid operational results that reflect our disciplined approach to generating cash and reducing costs," Burns said in a statement.
"During the fourth quarter, we saw signs of improvement in several areas including developing markets, and we remain quite confident in our strong global competitive position," she said
"However, we believe revenue will continue to be under pressure until there is a more sustainable economic recovery," Burns said.
"To help offset this challenge, we remain focused on cost and expense management and sizing our business to better match current revenue levels."
IT market, Wipro
Wipro to cut jobs in Finland
Wipro Ltd, India's No. 3 software exporter, said that it is planning to restructure some part of its Finland operations and the move could impact a maximum of 85 people.
The company's IT unit, which employs 300 people in Finland, will start a consultation process with the staff representatives as part of the restructuring of its telecom research and development operations there.
"After carefully considering all possible options, the company has decided to enter into a negotiation process with the employees given the challenging industry situation in telecom R&D," it said in a statement.
The company's IT unit, which employs 300 people in Finland, will start a consultation process with the staff representatives as part of the restructuring of its telecom research and development operations there.
"After carefully considering all possible options, the company has decided to enter into a negotiation process with the employees given the challenging industry situation in telecom R&D," it said in a statement.
Monday, January 4, 2010
cognizant, CTS, H1-B, IT market
Information technology: The wonder decade
What started as an industry riding the demand from global customers seeking to make their IT and business systems Y2K compliant is today almost a $60-billion industry, contributing nearly 4% to India’s GDP.
Source: EconomicTimes
-1999 - The biggest inflection point was the role Indian companies played in combating the so-called millennium bug. TCS, Wipro and others become trusted partners for companies worldwide seeking to achieve Y2K compliance
-Infosys achieves $100 million in revenues, lists on Nasdaq. India’s outsourcing industry grows to $4 billion 2000-2001 - Indian IT industry moves from Y2K to complex e-business projects
-Dewang Mehta, who helped Indian IT industry grow in its early years, dies. Kiran Karnik takes over as Nasscom head
-US increases H1B visa limit to 1,95,000, the highest ever
-Wipro lists on NYSE
-2002-2003 - NR Narayana Murthy steps down from Infosys and Nandan Nilekani takes over
-Post the dotcom bust, companies such as DSQ Software, Pentafour and Silverline perish
-2004-2005 - TCS lists on BSE
-Large customers start offshoring ERP-based projects. Infosys becomes a $1-billion company, Wipro too crosses $1 billion in revenues
-GE sells 60% in GECIS — the back office pioneer — to private equity firms. The Indian BPO industry starts growing rapidly
-IBM, Accenture and HP start developing their Indian offshore presence to make them their largest operations outside the US
-2006-2007 - Indian IT becomes a $31-billion industry
-Protectionism in top export markets forces Indian IT companies to start hiring locals
-2008-2009 - Infosys’ revenues cross $4 billion. Nilekani joins the government as chairman of the Unique Identity Authority of India
-HCL acquires UK’s Axon for £441.1 million, the biggest ever acquisition for Indian IT
-Satyam founder Ramalinga Raju admits to over $1-billion fraud. Tech Mahindra acquires Satyam
-TCS’ annual revenues cross $6 billion. N Chandrasekaran takes over from S Ramadorai as chief executive
Source: EconomicTimes
-1999 - The biggest inflection point was the role Indian companies played in combating the so-called millennium bug. TCS, Wipro and others become trusted partners for companies worldwide seeking to achieve Y2K compliance
-Infosys achieves $100 million in revenues, lists on Nasdaq. India’s outsourcing industry grows to $4 billion 2000-2001 - Indian IT industry moves from Y2K to complex e-business projects
-Dewang Mehta, who helped Indian IT industry grow in its early years, dies. Kiran Karnik takes over as Nasscom head
-US increases H1B visa limit to 1,95,000, the highest ever
-Wipro lists on NYSE
-2002-2003 - NR Narayana Murthy steps down from Infosys and Nandan Nilekani takes over
-Post the dotcom bust, companies such as DSQ Software, Pentafour and Silverline perish
-2004-2005 - TCS lists on BSE
-Large customers start offshoring ERP-based projects. Infosys becomes a $1-billion company, Wipro too crosses $1 billion in revenues
-GE sells 60% in GECIS — the back office pioneer — to private equity firms. The Indian BPO industry starts growing rapidly
-IBM, Accenture and HP start developing their Indian offshore presence to make them their largest operations outside the US
-2006-2007 - Indian IT becomes a $31-billion industry
-Protectionism in top export markets forces Indian IT companies to start hiring locals
-2008-2009 - Infosys’ revenues cross $4 billion. Nilekani joins the government as chairman of the Unique Identity Authority of India
-HCL acquires UK’s Axon for £441.1 million, the biggest ever acquisition for Indian IT
-Satyam founder Ramalinga Raju admits to over $1-billion fraud. Tech Mahindra acquires Satyam
-TCS’ annual revenues cross $6 billion. N Chandrasekaran takes over from S Ramadorai as chief executive
IT market
5 kinds of colleagues, who may be laid off soon
There are people in workplaces who cause problems that may result in them being laid off from work. According to HR expert Henry Fernandes, every office has problem employees. "Whether you are an employer or a co-worker, you have to deal with things diplomatically and on time if you do not want work to suffer," he says.
People who have attitude problem may become victims of layoffs. Such employees can make workplaces a very sad place. If other employees are demoralized, productivity will suffer. "It could be an employee's attitude towards work, excessive criticism of fellow colleagues or talking rudely," says Fernandes.
Those not coming to work on time may also face the wrath. This means work gets started late and deadlines are not met. "It sets a bad example and reflects on your working style and discipline in the office," says Fernandes.
Another reason can be if the employee doesn't keep his desks tidy. "Basically, the employee who does this is being careless," says Fernandes.
There are habits that disrupt work and affect productivity in workplace. A colleague who talks too much or discusses personal problems on the phone so loudly can result in you losing concentration on work.
Some people ask too many personal questions or keep looking at your computer screen to see what you are doing. "Even if you are sending a personal mail, they don't stop," says Fernandes.
The only way to deal with these kinds of employees is to have a serious talk with them. If you are the employer, you can be straightforward and question their behavior. If their behavior continues to affect others' productivity, it's time to show them the way out.
Source: SiliconIndia
People who have attitude problem may become victims of layoffs. Such employees can make workplaces a very sad place. If other employees are demoralized, productivity will suffer. "It could be an employee's attitude towards work, excessive criticism of fellow colleagues or talking rudely," says Fernandes.
Those not coming to work on time may also face the wrath. This means work gets started late and deadlines are not met. "It sets a bad example and reflects on your working style and discipline in the office," says Fernandes.
Another reason can be if the employee doesn't keep his desks tidy. "Basically, the employee who does this is being careless," says Fernandes.
There are habits that disrupt work and affect productivity in workplace. A colleague who talks too much or discusses personal problems on the phone so loudly can result in you losing concentration on work.
Some people ask too many personal questions or keep looking at your computer screen to see what you are doing. "Even if you are sending a personal mail, they don't stop," says Fernandes.
The only way to deal with these kinds of employees is to have a serious talk with them. If you are the employer, you can be straightforward and question their behavior. If their behavior continues to affect others' productivity, it's time to show them the way out.
Source: SiliconIndia
Monday, December 28, 2009
IT market
The top 100 IT projects of 2009
2009 InfoWorld 100 Awards: IT remains the lifeblood of forward-thinking organizations, as this year's recipients of InfoWorld's highest honor attest
Accenture
Unified Collaboration Initiative
Project lead: Frank B. Modruson, CIO
Project description: Accenture developed Accenture Client Exchange, a communications and collaboration platform that provides employees and clients presence, secure IM, voice and videoconferencing, virtual desktop sharing, and network-enabled phone functionality based on technology from Microsoft and Cisco.
Industry: Services
Activision Blizzard
WAN-Optimized Development Initiative
Project lead: Thomas Fenady, Senior Director of IT
Project description: Activision Blizzard increased the efficiency of its worldwide development efforts by revamping its network and moving away from MPLS (multiprotocol label switching) and DS3s (Digital Signal 3) in favor of WAN optimization technology from Riverbed.
Industry: Entertainment
ADP
Client Service Initiative
Project lead: Jeff Mullins, Vice President, Field Automation Engineering
Project description: ADP developed Workspace Manager, a unified customer service agent desktop built on Microsoft .Net and integrating Web, Java, Win32, mainframe, and legacy applications within a single user interface, while supporting the development of new composite application interfaces and eliminating the need for client service agents to individually log into 17 Citrix Presentation Server infrastructures.
Industry: Services
Click here to read complete list from InfoWorld
Accenture
Unified Collaboration Initiative
Project lead: Frank B. Modruson, CIO
Project description: Accenture developed Accenture Client Exchange, a communications and collaboration platform that provides employees and clients presence, secure IM, voice and videoconferencing, virtual desktop sharing, and network-enabled phone functionality based on technology from Microsoft and Cisco.
Industry: Services
Activision Blizzard
WAN-Optimized Development Initiative
Project lead: Thomas Fenady, Senior Director of IT
Project description: Activision Blizzard increased the efficiency of its worldwide development efforts by revamping its network and moving away from MPLS (multiprotocol label switching) and DS3s (Digital Signal 3) in favor of WAN optimization technology from Riverbed.
Industry: Entertainment
ADP
Client Service Initiative
Project lead: Jeff Mullins, Vice President, Field Automation Engineering
Project description: ADP developed Workspace Manager, a unified customer service agent desktop built on Microsoft .Net and integrating Web, Java, Win32, mainframe, and legacy applications within a single user interface, while supporting the development of new composite application interfaces and eliminating the need for client service agents to individually log into 17 Citrix Presentation Server infrastructures.
Industry: Services
Click here to read complete list from InfoWorld
IT market
Satyam, slowdowns make 2009 hard for software industry
The Satyam Computer accounting scam, slowdown and resultant hiring freeze by many made 2009 a forgettable year for the Indian Information Technology industry.
There was never a dull moment for bad news during the year, given the fact that Satyam's founder B Ramalinga Raju came out of the closet with an accounting fraud on January 7. The scam tarnished the credibility of India's IT story, requiring others to do a lot of convincing to retain clients.
As dramatic it was, the World Bank, within a week of the Satyam scam coming to light, announced it had banned, besides Satyam, Wipro and Megasoft from working for it for allegedly "providing improper benefits to the Bank staff" during the course of their projects with it. While the cases dated back to mid-2007, the timing of the disclosures only helped compound the woes of the IT industry.
To give the government its due credit, it acted swiftly by superseding the Satyam Board, which brought in new auditors to restate accounts, and ascertained employee count and within months found a new owner in Tech Mahindra. Satyam has since been renamed Mahindra Satyam.
Multiple agencies probed the scam, whose size was initially estimated at Rs 7,800 crore, and Raju, once a celebrated IT icon, is in custody awaiting trial.
2009 also saw the software exporting community trying hard to keep their margins as clients cut down on IT spends. The huge forex losses due to fluctuation of rupee didn't help them either.
Bulk of IT companies' revenue comes from the US and Europe and they earn more when the dollar is stronger.
Although the dollar was stronger, many of them had hedged against a stronger rupee - which it was in 2007 - thus losing out any which way.
The fallout of this was that top Indian IT companies, which used to hire up to 25,000 people annually, put recruitment on hold. Many of them, including Infosys, postponed campus recruitments.
Talking of Infosys, its poster-boy Nandan Nilekani left the IT company he helped found to join the government for a project to give every Indian citizen a unique identity number.
Globally, the industry saw a few mergers and acquisitions. In April, US business software company Oracle Corporation announced that it would buy its Silicon Valley rival Sun Microsystems for $7.4 billion in cash.
The takeover has moved Oracle, the world's second-largest software maker, into the server and storage computers market, placing it against IBM and Hewlett-Packard.
In September, the world's second largest PC maker Dell Inc entered into an agreement to acquire computer services firm Perot Systems for about $3.9 billion, making it one of the biggest deals in the IT space since the global financial turmoil hit the sector. The acquisition was aimed at helping Dell foray into the software space.
Copier major Xerox Corporation announced that it will acquire outsourcing entity Affiliated Computer Services (ACS) for about $6.4 billion in a cash and stock deal.
Indian IT industry is passing through a difficult phase. Shrinking budgets, pressure on revenues and bottomline, competition from global bigwigs are staring at the home-grown software multinationals who have to adjust to a new scenario than the one they have been used to so far.
In a way, the game is just beginning now.
There was never a dull moment for bad news during the year, given the fact that Satyam's founder B Ramalinga Raju came out of the closet with an accounting fraud on January 7. The scam tarnished the credibility of India's IT story, requiring others to do a lot of convincing to retain clients.
As dramatic it was, the World Bank, within a week of the Satyam scam coming to light, announced it had banned, besides Satyam, Wipro and Megasoft from working for it for allegedly "providing improper benefits to the Bank staff" during the course of their projects with it. While the cases dated back to mid-2007, the timing of the disclosures only helped compound the woes of the IT industry.
To give the government its due credit, it acted swiftly by superseding the Satyam Board, which brought in new auditors to restate accounts, and ascertained employee count and within months found a new owner in Tech Mahindra. Satyam has since been renamed Mahindra Satyam.
Multiple agencies probed the scam, whose size was initially estimated at Rs 7,800 crore, and Raju, once a celebrated IT icon, is in custody awaiting trial.
2009 also saw the software exporting community trying hard to keep their margins as clients cut down on IT spends. The huge forex losses due to fluctuation of rupee didn't help them either.
Bulk of IT companies' revenue comes from the US and Europe and they earn more when the dollar is stronger.
Although the dollar was stronger, many of them had hedged against a stronger rupee - which it was in 2007 - thus losing out any which way.
The fallout of this was that top Indian IT companies, which used to hire up to 25,000 people annually, put recruitment on hold. Many of them, including Infosys, postponed campus recruitments.
Talking of Infosys, its poster-boy Nandan Nilekani left the IT company he helped found to join the government for a project to give every Indian citizen a unique identity number.
Globally, the industry saw a few mergers and acquisitions. In April, US business software company Oracle Corporation announced that it would buy its Silicon Valley rival Sun Microsystems for $7.4 billion in cash.
The takeover has moved Oracle, the world's second-largest software maker, into the server and storage computers market, placing it against IBM and Hewlett-Packard.
In September, the world's second largest PC maker Dell Inc entered into an agreement to acquire computer services firm Perot Systems for about $3.9 billion, making it one of the biggest deals in the IT space since the global financial turmoil hit the sector. The acquisition was aimed at helping Dell foray into the software space.
Copier major Xerox Corporation announced that it will acquire outsourcing entity Affiliated Computer Services (ACS) for about $6.4 billion in a cash and stock deal.
Indian IT industry is passing through a difficult phase. Shrinking budgets, pressure on revenues and bottomline, competition from global bigwigs are staring at the home-grown software multinationals who have to adjust to a new scenario than the one they have been used to so far.
In a way, the game is just beginning now.
IT market, new openings
2010 to bring 50K IT jobs
After a long hibernation of 18 months, headhunters are actively out in the market as talent requirements have started trickling in. The hiring momentum is expected to pick up from April onwards.
Even in a worst scenario, calendar 2010 will create around 50,000 fresh IT/ITES jobs against zero fresh jobs except a very thin campus hiring - in the previous year. The calendar 2007 had witnessed a bumper hiring at over 3 lakh while the growth got tapered off towards the third quarter of 2008 clocking a total hiring of only 1.8 lakh.
B S Murthy, CEO, Leadership Capital says the new year will usher in recovery and a wave of general optimism across segments. “This means a complete change from the current skeletal and need-based hiring. The large volume-hiring realm (services space) will warm up by the second quarter of calendar 2010. A 15% increment in hiring volumes is expected in the first two quarters while the growth could cross 20% or double towards third and fourth quarter.”
According to Nirupama V G, MD, AdAstra, requirements will start pouring in like tsunami, HR departments of many corporates have already geared up for large scale hiring after a long standstill. “Normalcy will return to the industry by April. In addition to domestic hiring , India is going to emerge as a huge sourcing ground for global jobs across segments, positions and profiles.”
“When we enjoy a vantage position in human resources, talent is still a scare commodity in global markets. The year 2010 is going to be bright year for India in terms of domestic and global placements,” adds Mohan Menon, CEO, Sentient Consulting.
Even in a worst scenario, calendar 2010 will create around 50,000 fresh IT/ITES jobs against zero fresh jobs except a very thin campus hiring - in the previous year. The calendar 2007 had witnessed a bumper hiring at over 3 lakh while the growth got tapered off towards the third quarter of 2008 clocking a total hiring of only 1.8 lakh.
B S Murthy, CEO, Leadership Capital says the new year will usher in recovery and a wave of general optimism across segments. “This means a complete change from the current skeletal and need-based hiring. The large volume-hiring realm (services space) will warm up by the second quarter of calendar 2010. A 15% increment in hiring volumes is expected in the first two quarters while the growth could cross 20% or double towards third and fourth quarter.”
According to Nirupama V G, MD, AdAstra, requirements will start pouring in like tsunami, HR departments of many corporates have already geared up for large scale hiring after a long standstill. “Normalcy will return to the industry by April. In addition to domestic hiring , India is going to emerge as a huge sourcing ground for global jobs across segments, positions and profiles.”
“When we enjoy a vantage position in human resources, talent is still a scare commodity in global markets. The year 2010 is going to be bright year for India in terms of domestic and global placements,” adds Mohan Menon, CEO, Sentient Consulting.
Thursday, December 17, 2009
IT market
Convergys and Microsoft set up community technology centre in Bangalore
Convergys Corporation, a global leader in relationship management, and Microsoft Corporation, the worldwide leader in software, services, and solutions that help people and businesses realize their full potential, announced on Tuesday the opening of a Community Technology Center (CTC) in Bangalore, India.
The CTC will aim to increase computer literacy and develop the job-related technology skills of underprivileged children in the Bangalore area.
The joint Microsoft/Convergys programme will have a significant impact in creating new avenues for social and economic opportunities for local students from the government higher primary school and other organisations. Through the CTC program, students will grow their knowledge of computers and upgrade important technology skills essential for future job opportunities.
A team of dedicated Convergys volunteers with strong computer training skills will routinely conduct the classes, which use a highly successful, technology-intensive digital literacy curriculum designed by Microsoft. The practical course will cover topics ranging from the fundamentals to day-to-day practical applications, such as using the Internet, sending e-mail, and creating a risumi.
As a socially responsible corporate citizen, Convergys and its employees are committed to supporting programs that help improve lives and build stronger communities around the globe, by focusing on education, social, and human services.
Vikas Goswami, Community Affairs Manager, Microsoft India, said, "Under our global Unlimited Potential initiative, we are committed to reaching the benefits of technology to those currently underserved by it. This alliance with Convergys is another step in that direction, and one that we hope will have a positive impact on scores of lives."
Mahesh Dadlani, Director of Convergys' Bangalore facility said, "Together with Microsoft, we hope to reach children early and significantly narrow the digital divide to broaden their future opportunities. Digital literacy will continue to emerge as a key enabler in empowering children to improve their employability in the future and to help them hold a competitive edge amongst an increasingly enlightened workforce."
Located in Convergys' Bangalore facility, the CTC will feature an informal and welcoming environment and will be well equipped with computers, printers, Internet access, and teaching aids.
The CTC will steadily increase its outreach with the aim of inducting close to 1,000 students from primary schools and non-profit organisations.
The CTC will aim to increase computer literacy and develop the job-related technology skills of underprivileged children in the Bangalore area.
The joint Microsoft/Convergys programme will have a significant impact in creating new avenues for social and economic opportunities for local students from the government higher primary school and other organisations. Through the CTC program, students will grow their knowledge of computers and upgrade important technology skills essential for future job opportunities.
A team of dedicated Convergys volunteers with strong computer training skills will routinely conduct the classes, which use a highly successful, technology-intensive digital literacy curriculum designed by Microsoft. The practical course will cover topics ranging from the fundamentals to day-to-day practical applications, such as using the Internet, sending e-mail, and creating a risumi.
As a socially responsible corporate citizen, Convergys and its employees are committed to supporting programs that help improve lives and build stronger communities around the globe, by focusing on education, social, and human services.
Vikas Goswami, Community Affairs Manager, Microsoft India, said, "Under our global Unlimited Potential initiative, we are committed to reaching the benefits of technology to those currently underserved by it. This alliance with Convergys is another step in that direction, and one that we hope will have a positive impact on scores of lives."
Mahesh Dadlani, Director of Convergys' Bangalore facility said, "Together with Microsoft, we hope to reach children early and significantly narrow the digital divide to broaden their future opportunities. Digital literacy will continue to emerge as a key enabler in empowering children to improve their employability in the future and to help them hold a competitive edge amongst an increasingly enlightened workforce."
Located in Convergys' Bangalore facility, the CTC will feature an informal and welcoming environment and will be well equipped with computers, printers, Internet access, and teaching aids.
The CTC will steadily increase its outreach with the aim of inducting close to 1,000 students from primary schools and non-profit organisations.
IT market, Satyam
Satyam was a great place to work till the scam broke out
Ramesh D (43) had clocked three satisfying years at Satyam. “Satyam was a great place to be. It did not run like a family enterprise, but like a professionally managed company. And the brand had huge equity across Andhra Pradesh – something like what Infosys enjoys in Karnataka,” he says.
So like everyone else, when Ramesh heard of the Maytas acquisition, he was surprised, but dismissed it. It was only when the scam of Rs 8,000 crore unfolded (latest figures estimate the scam at Rs 14,000 crore), that Ramesh was left spellbound. “It was January 7, it was my wife’s birthday. Over the past one year, I have moved from shock to anger and later to reconciliation and now, hope,” he recalls.
He saw hundreds of employees being asked to leave and others left, as and when they got their hands on other offers. Ramesh too has been waiting for the right opportunity.
While Ramalinga Raju, PwC and the investors of Satyam got maximum attention last year, it was the employees of Satyam who were left in the lurch. Last December, the economic slowdown hit India Inc in full force and pink slips were flying faster than recession. Within minutes of the scam hitting headline, resumes of Satyam employees were flooding the market, but they had nowhere to go.
Vinay A (24), for instance, who had joined Satyam’s Bangalore office straight after engineering, managed an opening in a Kenyan firm. “Office was not running as usual. Our bosses would tell us to calm down and focus, but there was no way it could happen. And when it was all over the media, it became humiliating to even enter the office,” he recalls. “I was lucky to have got a break. There were so many who had nowhere to go and were worried because they had families and personal commitments.”
HR experts believe that it was the recession that saved the day for Satyam. “Had the news broken when the economy was on a boom, the company would’ve gone bust overnight, since everyone would’ve found jobs elsewhere,” says BS Murthy, CEO of Leadership Capital, an executive search firm. “Ever since signs of recovery became visible, the firm has seen 18 to 20 per cent attrition,” he adds.
Ramesh couldn’t agree more: “People in technical roles have already begun leaving. But it’s only in the new fiscal that people from areas like HR, finance, administration and facilities will start moving out.”
(Names of employees have been changed on request.)
Source: mydigitalfc
So like everyone else, when Ramesh heard of the Maytas acquisition, he was surprised, but dismissed it. It was only when the scam of Rs 8,000 crore unfolded (latest figures estimate the scam at Rs 14,000 crore), that Ramesh was left spellbound. “It was January 7, it was my wife’s birthday. Over the past one year, I have moved from shock to anger and later to reconciliation and now, hope,” he recalls.
He saw hundreds of employees being asked to leave and others left, as and when they got their hands on other offers. Ramesh too has been waiting for the right opportunity.
While Ramalinga Raju, PwC and the investors of Satyam got maximum attention last year, it was the employees of Satyam who were left in the lurch. Last December, the economic slowdown hit India Inc in full force and pink slips were flying faster than recession. Within minutes of the scam hitting headline, resumes of Satyam employees were flooding the market, but they had nowhere to go.
Vinay A (24), for instance, who had joined Satyam’s Bangalore office straight after engineering, managed an opening in a Kenyan firm. “Office was not running as usual. Our bosses would tell us to calm down and focus, but there was no way it could happen. And when it was all over the media, it became humiliating to even enter the office,” he recalls. “I was lucky to have got a break. There were so many who had nowhere to go and were worried because they had families and personal commitments.”
HR experts believe that it was the recession that saved the day for Satyam. “Had the news broken when the economy was on a boom, the company would’ve gone bust overnight, since everyone would’ve found jobs elsewhere,” says BS Murthy, CEO of Leadership Capital, an executive search firm. “Ever since signs of recovery became visible, the firm has seen 18 to 20 per cent attrition,” he adds.
Ramesh couldn’t agree more: “People in technical roles have already begun leaving. But it’s only in the new fiscal that people from areas like HR, finance, administration and facilities will start moving out.”
(Names of employees have been changed on request.)
Source: mydigitalfc
IT market
Hiring mails are the latest spam
Hackers are now increasingly using the new buzzword – Twitter – to dupe internet users. In the last month, security solutions firms have found new job spam messages that use Twitter as its tool to expand, which in turn entices the user to click the URL to view the details of the bogus opportunities.
For instance, spam messages containing Twitter URLs, had subjects like N3 Earn Extra Income! One of the spam messages doing the rounds says — “Have you heard about Google taking in workers online? I read it at ajobwithgoogle.com Very Interesting!” Yet another one says — “US Surveys is looking for the position of a social shopper”.
“While job-related spam has been prevalent since the recession, Twitter is now being used to lure internet users. These spam emails talk about part-time jobs from big brands,” said Abhinav Karnwal, product marketing manager – APEC, Trend Micro.
Victims are usually offered an amazing job and money, with or without experience. Sometimes they look for a money mule, where they’ll launder stolen money through your account, giving you a percentage. Sometimes, they promise to pay your salary into your account, but transfer money out instead, said Roger Thompson, AVG's chief research officer. They also lure potential money mules to help transfer money by convincing them that they are genuine jobs.
Symantec’s Shantanu Ghosh, VP – India product operations, Symantec, says a large number of Twitter accounts are being used and they seem to be a mixture of hijacked accounts (quite old, and have genuine looking updates) and false accounts set up purely for the purpose of spamming.
Incidentally, India has jumped to the third position in terms of spam volume in 2009. According to Cisco’s annual security report, the country saw spam messages of 3.6 trillion in 2009, 130.4 per cent rise over 2008’s 1.6 trillion.
For instance, spam messages containing Twitter URLs, had subjects like N3 Earn Extra Income! One of the spam messages doing the rounds says — “Have you heard about Google taking in workers online? I read it at ajobwithgoogle.com Very Interesting!” Yet another one says — “US Surveys is looking for the position of a social shopper”.
“While job-related spam has been prevalent since the recession, Twitter is now being used to lure internet users. These spam emails talk about part-time jobs from big brands,” said Abhinav Karnwal, product marketing manager – APEC, Trend Micro.
Victims are usually offered an amazing job and money, with or without experience. Sometimes they look for a money mule, where they’ll launder stolen money through your account, giving you a percentage. Sometimes, they promise to pay your salary into your account, but transfer money out instead, said Roger Thompson, AVG's chief research officer. They also lure potential money mules to help transfer money by convincing them that they are genuine jobs.
Symantec’s Shantanu Ghosh, VP – India product operations, Symantec, says a large number of Twitter accounts are being used and they seem to be a mixture of hijacked accounts (quite old, and have genuine looking updates) and false accounts set up purely for the purpose of spamming.
Incidentally, India has jumped to the third position in terms of spam volume in 2009. According to Cisco’s annual security report, the country saw spam messages of 3.6 trillion in 2009, 130.4 per cent rise over 2008’s 1.6 trillion.
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