Software developer Valuemart Info Technologies bagged a $4.5-million (Rs 20 crore) contract from the UAE-based Supreme Software Technologies to develop a project help desk solution, the Bangalore IT firm said.
"The project help desk suite is an enterprise web-based solution for electronic monitoring of project-related processes. The solution helps an enterprise to track workflows of multiple projects and ensure their completion within timelines," Valuemart managing director C K Vasudevan said.
The company will execute the order within two years to facilitate Supreme Software manage multi-location project teams, including those working on offshore and onsite models.
"Supreme Software awarded the contract after we successfully demonstrated the functional aspects of the suite as a proof of concept. The deal will also enhance our ability to bid for high value projects and move up the value chain," Vasudevan said.
The 13-year-old Valuemart offers enterprise resource planning (ERP) and business process management solutions in diverse verticals such as manufacturing, banking, financial services, insurance and legal.
Showing posts with label IT market. Show all posts
Showing posts with label IT market. Show all posts
Tuesday, May 11, 2010
Cost cutting, IT market
Cost cutting helps Sony cut losses
Sony Corp reported a smaller loss than the company forecast, citing bigger-than-expected cost reductions and gains from its life insurance unit.
The net loss was 41 billion yen ($445 million) in the year ended March 31, narrower than the 70 billion yen the company had previously projected, Tokyo-based Sony said in a statement today. Sales were 7.21 trillion yen, or 1.2 percent lower than forecast, according to the statement.
The maker of Bravia televisions and Cyber-shot cameras has eliminated 20,000 jobs and shut factories to weather the global recession, which led to Sony’s first back-to-back annual loss since its listing half a century ago. Chief Executive Officer Howard Stringer is counting on a recovery in global demand for electronics to revive earnings growth this year.
Sony shares gained 0.7 percent to close at 3,080 yen on the Tokyo Stock Exchange before the company reported preliminary results. The stock has gained 15 percent this year, outperforming the benchmark Nikkei 225 Stock Average.
The net loss was 41 billion yen ($445 million) in the year ended March 31, narrower than the 70 billion yen the company had previously projected, Tokyo-based Sony said in a statement today. Sales were 7.21 trillion yen, or 1.2 percent lower than forecast, according to the statement.
The maker of Bravia televisions and Cyber-shot cameras has eliminated 20,000 jobs and shut factories to weather the global recession, which led to Sony’s first back-to-back annual loss since its listing half a century ago. Chief Executive Officer Howard Stringer is counting on a recovery in global demand for electronics to revive earnings growth this year.
Sony shares gained 0.7 percent to close at 3,080 yen on the Tokyo Stock Exchange before the company reported preliminary results. The stock has gained 15 percent this year, outperforming the benchmark Nikkei 225 Stock Average.
CTS, IT market
Cognizant promotes 15,000 globally
It's raining benefits at Cognizant! First, the company paid out about 200% bonus in March to a cross section of its employees. Now, the company is promoting about 15,000 of its associates globally who are below the 'manager' level.
The company has sent out letters of promotion to 15,000 employees on Friday that will take effect from May 1, 2010, sources said.
ToI has also learnt that this is just the first round of promotions and a second batch of promotions for people above the 'manager' level will happen in May. It is learnt that a sizeable chunk of the employees in that level are also likely to see themselves redesignated to a higher level. These employees would receive a fair chunk of pay hikes as well, sources added.
The company has 78,400 employees. This is the single largest number of promotions announced by any IT company in India this year. Last month, Infosys had announced promotions for 7,500 employees.
"This morning we announced global promotions for associates below the level of Manager. These promotions would be effective May 1, 2010. Cognizant's industry-leading growth over the past year has enabled promotion and career growth opportunities to a record number of employees," said Gordon Coburn, chief financial and operating officer, Cognizant in an e-mail.
Apart from the email, company officials remained tightlipped about any of the announcements including a hike in the salaries.
The company has sent out letters of promotion to 15,000 employees on Friday that will take effect from May 1, 2010, sources said.
ToI has also learnt that this is just the first round of promotions and a second batch of promotions for people above the 'manager' level will happen in May. It is learnt that a sizeable chunk of the employees in that level are also likely to see themselves redesignated to a higher level. These employees would receive a fair chunk of pay hikes as well, sources added.
The company has 78,400 employees. This is the single largest number of promotions announced by any IT company in India this year. Last month, Infosys had announced promotions for 7,500 employees.
"This morning we announced global promotions for associates below the level of Manager. These promotions would be effective May 1, 2010. Cognizant's industry-leading growth over the past year has enabled promotion and career growth opportunities to a record number of employees," said Gordon Coburn, chief financial and operating officer, Cognizant in an e-mail.
Apart from the email, company officials remained tightlipped about any of the announcements including a hike in the salaries.
Monday, April 19, 2010
Infosys, IT market
Infosys IT Inc's biggest paymaster in 2009
Unveiling plans to hire 30,000 persons this fiscal, IT bellwether Infosys today said it has paid $134 million (nearly Rs 600 crore) in salaries in 2009-10-the highest amount in the IT industry's history in India in a year.
Infosys HR head T V Mohandas Pai said the company has already made 19,000 campus offers for fiscal 2011.
Talking to reporters, he also said Infosys envisages recruiting 1,000 personnel each for its China and US offices and around 400 in Manila, he said. The company plans to induct 5,500-6,500 laterals, he added.
"There has been a large wage increase for middle and junior level employees. At the senior level, there has been a 10 per cent increase in wages. Overall, the average wage hike has been around 14-17 per cent," he said.
Nearly 7,500 persons were promoted by Infosys during the past year, out of whom 2,500 had been impacted by the company's new employee restructuring programme, called I-Race.
As per the restructuring programme, which aimed at fitting employees into roles they were prepared for, nearly 4,500 employees had been fitted in a role lower than what they were earlier fitted into. 0ut of these 4,500 personnel, 2,500 have now been promoted and the remaining 2,000 might be promoted in October.
Infosys HR head T V Mohandas Pai said the company has already made 19,000 campus offers for fiscal 2011.
Talking to reporters, he also said Infosys envisages recruiting 1,000 personnel each for its China and US offices and around 400 in Manila, he said. The company plans to induct 5,500-6,500 laterals, he added.
"There has been a large wage increase for middle and junior level employees. At the senior level, there has been a 10 per cent increase in wages. Overall, the average wage hike has been around 14-17 per cent," he said.
Nearly 7,500 persons were promoted by Infosys during the past year, out of whom 2,500 had been impacted by the company's new employee restructuring programme, called I-Race.
As per the restructuring programme, which aimed at fitting employees into roles they were prepared for, nearly 4,500 employees had been fitted in a role lower than what they were earlier fitted into. 0ut of these 4,500 personnel, 2,500 have now been promoted and the remaining 2,000 might be promoted in October.
IT market, new openings
Indian cos' hiring activity picks up 1.5 % in March
India Inc's hiring activity picked up 1.5 per cent in March, led by IT-enabled services, insurance and auto sectors, a report by job portal naukri.Com has said.
Job portal naukri.Com's monthly Job Speak survey reflected renewed optimism among recruiters, with the new job index moving up to 962 in March compared to 947 in February.
The portal takes into account not only the jobs posted online by its clients but also those made by them with the help of the website's tele-calling team.
"The hiring intentions of companies in most industry sectors seem to be moving in a positive direction as reflected by the consecutively upward moving Job index in the first quarter of 2010. It seems 'cautious optimism' among employers has given way to definite optimism," said Sumeet Singh, the National Head (Marketing and Communication) of Info Edge, which owns the website.
Hiring in ITeS and insurance sectors have seen maximum movement with the index moving up by 13 per cent and 15 per cent respectively in March over the last month.
Recruitment in auto sector moved up by 8 per cent and in pharma sector by 7 per cent in March, the report said.
Professionals in production, banking and HR also witnessed an increase in hiring by 8 to 12 per cent in March over February, the report said.
Overall, the index seems to be moving in a robust manner with hiring moving up across all industry verticals, functional areas and cities.
Among cities, Delhi have emerged as the most bullish on hiring, with the city-wise job index moving up 13 per cent over the last month.
Job portal naukri.Com's monthly Job Speak survey reflected renewed optimism among recruiters, with the new job index moving up to 962 in March compared to 947 in February.
The portal takes into account not only the jobs posted online by its clients but also those made by them with the help of the website's tele-calling team.
"The hiring intentions of companies in most industry sectors seem to be moving in a positive direction as reflected by the consecutively upward moving Job index in the first quarter of 2010. It seems 'cautious optimism' among employers has given way to definite optimism," said Sumeet Singh, the National Head (Marketing and Communication) of Info Edge, which owns the website.
Hiring in ITeS and insurance sectors have seen maximum movement with the index moving up by 13 per cent and 15 per cent respectively in March over the last month.
Recruitment in auto sector moved up by 8 per cent and in pharma sector by 7 per cent in March, the report said.
Professionals in production, banking and HR also witnessed an increase in hiring by 8 to 12 per cent in March over February, the report said.
Overall, the index seems to be moving in a robust manner with hiring moving up across all industry verticals, functional areas and cities.
Among cities, Delhi have emerged as the most bullish on hiring, with the city-wise job index moving up 13 per cent over the last month.
IT market, new openings
iGate to hire 500, eyes acquisitions
IT services company iGate said it will hire 500 professionals in the next two quarters to support its expanding operations.
"Most of the 500 people we plan to hire in over the next six months will be in India and some in Mexico and the US. They will be employed in both services in BPO areas," iGate CEO Phaneesh Murthy said.
The Nasdaq-listed company, which has been eyeing acquisitions in $30-70 million range for some time, is hopeful making it in 2010.
"We are aggressively pursuing it... We have $100 million cash on our balance sheet. We are eyeing acquisitions in $30-70 million range and we should finalise it in few months," he said. The company is looking at healthcare and financial BPO services.
There is a large pent-up demand... I think the bigger recovery is in the financial services," he said.
iGate said its net income more than doubled to $11.6 million for the January-March quarter compared to compared to $5 million registered in the same period last year, Murthy said.
Revenue was up 29 per cent at $57.9 million for the quarter ended March 31, 2010, compared to $44.8 million during the same period last year, he added.
iGate Chief Financial Officer Sujit Sircar said, "While we had an excellent performance in Q1 and expect revenues to grow, margins are likely to be under pressure due to increased hiring, rupee appreciation and wage inflation. Our cash and cash equivalents and short-term investments crossed the $100 million mark."
The company ended Q1 with 7,357 employees, a net addition of 447 employees during the quarter. Seven new customers were added by iGate during the quarter.
"Most of the 500 people we plan to hire in over the next six months will be in India and some in Mexico and the US. They will be employed in both services in BPO areas," iGate CEO Phaneesh Murthy said.
The Nasdaq-listed company, which has been eyeing acquisitions in $30-70 million range for some time, is hopeful making it in 2010.
"We are aggressively pursuing it... We have $100 million cash on our balance sheet. We are eyeing acquisitions in $30-70 million range and we should finalise it in few months," he said. The company is looking at healthcare and financial BPO services.
There is a large pent-up demand... I think the bigger recovery is in the financial services," he said.
iGate said its net income more than doubled to $11.6 million for the January-March quarter compared to compared to $5 million registered in the same period last year, Murthy said.
Revenue was up 29 per cent at $57.9 million for the quarter ended March 31, 2010, compared to $44.8 million during the same period last year, he added.
iGate Chief Financial Officer Sujit Sircar said, "While we had an excellent performance in Q1 and expect revenues to grow, margins are likely to be under pressure due to increased hiring, rupee appreciation and wage inflation. Our cash and cash equivalents and short-term investments crossed the $100 million mark."
The company ended Q1 with 7,357 employees, a net addition of 447 employees during the quarter. Seven new customers were added by iGate during the quarter.
Monday, April 12, 2010
IT market
MphasiS to buy Fortify for $15m
MphasiS has signed a definitive deal to acquire 100 per cent stake in Fortify Infrastructure Services (FIS), a provider of offshore based Remote IT Operations and Management (ROM) Services, for $15.5 million in an all cash transaction.
With this acquisition, MphasiS – which is an IT solutions, services and BPO provider in application development, system integration, product implementation, consulting services – believes that it will be able to provide outcome based services that go beyond technical SLAs.
Ganesh Ayyar, CEO of MphasiS, said, “This acquisition will catapult us ahead as a provider of offshore-based ROM services. Mid market customers are looking for partners to solve the challenges of operating and managing their IT. We see this as our sweet spot to provide cost effective and outcome based ROM services.”
In a press release, MphasiS said that this acquisition will give it access to marquee customers, an experienced management team, a talent pool of highly specialised professionals and a proven platform to provide ROM services.
Rajkumar Velagapudi, CEO of Fortify Infrastructure Services, said, “Our proven industry track record in providing outcome-based ROM services, coupled with MphasiS’ rich expertise and leading offshore capability will provide mid market customers a flexible, high-value operations management platform that is focused on achieving their business objectives.”
FIS has presence in India and the US with 250 employees.
With this acquisition, MphasiS – which is an IT solutions, services and BPO provider in application development, system integration, product implementation, consulting services – believes that it will be able to provide outcome based services that go beyond technical SLAs.
Ganesh Ayyar, CEO of MphasiS, said, “This acquisition will catapult us ahead as a provider of offshore-based ROM services. Mid market customers are looking for partners to solve the challenges of operating and managing their IT. We see this as our sweet spot to provide cost effective and outcome based ROM services.”
In a press release, MphasiS said that this acquisition will give it access to marquee customers, an experienced management team, a talent pool of highly specialised professionals and a proven platform to provide ROM services.
Rajkumar Velagapudi, CEO of Fortify Infrastructure Services, said, “Our proven industry track record in providing outcome-based ROM services, coupled with MphasiS’ rich expertise and leading offshore capability will provide mid market customers a flexible, high-value operations management platform that is focused on achieving their business objectives.”
FIS has presence in India and the US with 250 employees.
Tuesday, March 30, 2010
IT market
CSC under scanner for 'exploiting' Indian IT professionals in Denmark
The Indian subsidiary of the world’s fourth-largest IT services provider, the $16.7-billion Computer Science Corporation (CSC), is under scanner for allegedly exploiting Indian IT professionals sent onsite to Denmark.
Source: EconomicTimes
The accusation comes from a local IT workers’ union, which claims CSC is paying Indian IT professionals in Denmark salaries lower than the minimum stipulated by law.
PROSA — a Danish trade union for IT professionals — raised the issue last month when an Indian IT professional on deputation in Denmark, protested about not being paid the salary promised by CSC. The issue is creating headlines in the Nordic country, which has about 65,000 IT professionals.
According to papers filed by PROSA with Danish investigating authorities, CSC pays Indian IT professionals between 5,000 and 8,000 Danish Kroner (DKK) a month — roughly equal to what the Indian IT workers would get, working in Noida or Hyderabad. (One DKK is equal to Rs 8).
But Danish law states that foreigners must earn at least 31,250 DKK monthly to enter the country through the so-called salary amount rule, which is part of the Aliens Act. “Danish law requires companies to pay foreign IT workers in Denmark a minimum wage of 31,250 DKK, which is roughly equal to Rs 2.5 lakh per month, to enter the country. We believe more such IT companies are involved in exploiting Indian IT workers onsite,” said Hanne Lykke Jespersen, union secretary, PROSA. “The Danish government has already launched an investigation into this matter,” she added.
To give a comparison between the cost of living in Denmark and India, a McDonald’s Big Mac (called Maharaja Mac here) costs $1.5 (Rs 69) in New Delhi. The same Big Mac costs about $5.7 (Rs 250) in Copenhagen. In another comparison, per capita income in Denmark is about $3,000 per month. In contrast, Indian IT workers are often paid even lower, at about $1454 per month (equating with 8,000 DKK per month), going by PROSA’s claims.
Source: EconomicTimes
Source: EconomicTimes
The accusation comes from a local IT workers’ union, which claims CSC is paying Indian IT professionals in Denmark salaries lower than the minimum stipulated by law.
PROSA — a Danish trade union for IT professionals — raised the issue last month when an Indian IT professional on deputation in Denmark, protested about not being paid the salary promised by CSC. The issue is creating headlines in the Nordic country, which has about 65,000 IT professionals.
According to papers filed by PROSA with Danish investigating authorities, CSC pays Indian IT professionals between 5,000 and 8,000 Danish Kroner (DKK) a month — roughly equal to what the Indian IT workers would get, working in Noida or Hyderabad. (One DKK is equal to Rs 8).
But Danish law states that foreigners must earn at least 31,250 DKK monthly to enter the country through the so-called salary amount rule, which is part of the Aliens Act. “Danish law requires companies to pay foreign IT workers in Denmark a minimum wage of 31,250 DKK, which is roughly equal to Rs 2.5 lakh per month, to enter the country. We believe more such IT companies are involved in exploiting Indian IT workers onsite,” said Hanne Lykke Jespersen, union secretary, PROSA. “The Danish government has already launched an investigation into this matter,” she added.
To give a comparison between the cost of living in Denmark and India, a McDonald’s Big Mac (called Maharaja Mac here) costs $1.5 (Rs 69) in New Delhi. The same Big Mac costs about $5.7 (Rs 250) in Copenhagen. In another comparison, per capita income in Denmark is about $3,000 per month. In contrast, Indian IT workers are often paid even lower, at about $1454 per month (equating with 8,000 DKK per month), going by PROSA’s claims.
Source: EconomicTimes
Infosys, IT market
Infosys to give ‘unheard of’ increments
Infosys Technologies has been seeing a churn of employees in the past three quarters. The churn began after new HR initiatives, including a career-determining programme called iRace, were started.
Several thousand dissatisfied employees have quit since October. Though no official count is available, employees put the number of exits since October at over 10,000. This has forced the company to make some changes in its HR policies. One of the changes is believed to be good salary increments this time.
Some of the other changes are: Delinking the average working hours every quarter from iRace and appraisal, and scrapping the requirement of completing two compulsory internal certification programmes.
A Hyderabad-based employee quoted the HR head, Nandita Gurjar, as saying that salary raises unheard of in the company would be given this April. Gurjar was not willing to tell Financial Chronicle the size of raises; but employees expecting hikes in the range of 5 per cent to 13 per cent.
The problem HR plan – iRace (short for Infosys role and career enhancement) – introduced last June, defines roles, competencies and proficiency requirements, while linking career movements to performance and business focus. FC had then employee apprehensions about the programme.
In the past two months, Infosys employees have been rushing to the internet, and the blogosphere, in particular, as well as the company intranet with lambasting iRace. Cartoons, videos on Youtube and fake interviews have also been posted.
This led Gurjar to post her comments on the internal blog. She said, “Of late I have noticed a disturbing trend wherein employees leaving the organisation write mails about it in disparaging terms, and existing employees take joy and pleasure in circulating these mails among themselves and even outside.”
“I feel deeply hurt when I hear of such incidences. It makes me wonder, would we behave in this way if someone spoke similarly about our friends, family or country...? At what point do we move from being a bystander enjoying the fun to be an owner who takes offence at this kind of behavior?’’
According to employees, of the over 10,000 that have quit since October, 4,000 left in February. About 1,000 e-separations were filed on the intranet on a single day: December 31. Gurjar though says that only 1,200 people quit in January, 1,104 in February; and a slightly higher number of departures were expected this month.
An employee based in Bangalore said, “iRace is the reason for the exodus. After the implementation of the programme and other policies like 9.15 hours of compulsory attendance, people now dread to work in the once dream company.”
Asked about the iRace effect, Gurjar told FC that employees had confused it with promotions and linked it to the slowdown.
“The career architecture has nothing to do with promotions and is more to do with skill mapping. Employees have to remember that promotions and hikes are a result of growth and they will grow only if the company grows. Earlier, when Infosys was growing at 40 per cent plus, raises and positions were attuned to that kind of growth. The cycles now will be more relevant to today’s growth rates,” she said.
She added that the company had now started communicating the initiative and employees were beginning to understand the positives. The employee angst notwithstanding, HR consultants feel rationalisation will continue. It could benefit both company and employees in the long run.
P Thiruvengadam of Deloitte India said, “Rationalisation of the career structure is a common phenomenon in most mature organisations. While companies are young and growing rapidly, they reward employees that way too but after they reach 20-30 years and saturate, they are more conservative.”
According to Kris Lakshmikanth of The Head Hunters India, different IT companies deal with the problem of inefficiency and excess fat in different ways. Infosys had chosen this method, which was facing trouble maybe because of the timing of its launch, he added.
Source: mydigitalfc.com
Several thousand dissatisfied employees have quit since October. Though no official count is available, employees put the number of exits since October at over 10,000. This has forced the company to make some changes in its HR policies. One of the changes is believed to be good salary increments this time.
Some of the other changes are: Delinking the average working hours every quarter from iRace and appraisal, and scrapping the requirement of completing two compulsory internal certification programmes.
A Hyderabad-based employee quoted the HR head, Nandita Gurjar, as saying that salary raises unheard of in the company would be given this April. Gurjar was not willing to tell Financial Chronicle the size of raises; but employees expecting hikes in the range of 5 per cent to 13 per cent.
The problem HR plan – iRace (short for Infosys role and career enhancement) – introduced last June, defines roles, competencies and proficiency requirements, while linking career movements to performance and business focus. FC had then employee apprehensions about the programme.
In the past two months, Infosys employees have been rushing to the internet, and the blogosphere, in particular, as well as the company intranet with lambasting iRace. Cartoons, videos on Youtube and fake interviews have also been posted.
This led Gurjar to post her comments on the internal blog. She said, “Of late I have noticed a disturbing trend wherein employees leaving the organisation write mails about it in disparaging terms, and existing employees take joy and pleasure in circulating these mails among themselves and even outside.”
“I feel deeply hurt when I hear of such incidences. It makes me wonder, would we behave in this way if someone spoke similarly about our friends, family or country...? At what point do we move from being a bystander enjoying the fun to be an owner who takes offence at this kind of behavior?’’
According to employees, of the over 10,000 that have quit since October, 4,000 left in February. About 1,000 e-separations were filed on the intranet on a single day: December 31. Gurjar though says that only 1,200 people quit in January, 1,104 in February; and a slightly higher number of departures were expected this month.
An employee based in Bangalore said, “iRace is the reason for the exodus. After the implementation of the programme and other policies like 9.15 hours of compulsory attendance, people now dread to work in the once dream company.”
Asked about the iRace effect, Gurjar told FC that employees had confused it with promotions and linked it to the slowdown.
“The career architecture has nothing to do with promotions and is more to do with skill mapping. Employees have to remember that promotions and hikes are a result of growth and they will grow only if the company grows. Earlier, when Infosys was growing at 40 per cent plus, raises and positions were attuned to that kind of growth. The cycles now will be more relevant to today’s growth rates,” she said.
She added that the company had now started communicating the initiative and employees were beginning to understand the positives. The employee angst notwithstanding, HR consultants feel rationalisation will continue. It could benefit both company and employees in the long run.
P Thiruvengadam of Deloitte India said, “Rationalisation of the career structure is a common phenomenon in most mature organisations. While companies are young and growing rapidly, they reward employees that way too but after they reach 20-30 years and saturate, they are more conservative.”
According to Kris Lakshmikanth of The Head Hunters India, different IT companies deal with the problem of inefficiency and excess fat in different ways. Infosys had chosen this method, which was facing trouble maybe because of the timing of its launch, he added.
Source: mydigitalfc.com
IT market
Intel invests in 3 Indian IT cos
Computer chip maker Intel's investment arm, Intel Capital has invested $23 million (Rs.115 crore) in three technology firms to foster innovation in India, the company said.
The three firms are July Systems, KLG Systel and MCX.
Intel Capital, however, did not disclose the investment in each of the firms, claiming confidentiality.
The company issued a statement here that funding would be drawn from the Intel Capital India Technology Fund floated in 2005.
"The investments will stimulate local technology innovation and reinforces our commitment towards fostering Indian innovation," Intel Capital president Arvind Sodhani said.
The three firms are July Systems, KLG Systel and MCX.
Intel Capital, however, did not disclose the investment in each of the firms, claiming confidentiality.
The company issued a statement here that funding would be drawn from the Intel Capital India Technology Fund floated in 2005.
"The investments will stimulate local technology innovation and reinforces our commitment towards fostering Indian innovation," Intel Capital president Arvind Sodhani said.
IT market, Wipro
Wipro merges two offshore offices with itself
The the third largest IT exporter Wipro today said "Indian branch offices" of the two overseas subsidiaries-- Wipro Networks Singapore and Cyprus-based WM NetServ-- stood merged with the company.
The two branch offices of the subsidiaries merged with the company following filing of e-form along with certified copies of orders of the Karnataka High Court with the respective offices of the Registrar of Companies, Wipro informed the Bombay Stock Exchange.
The Indian branch offices of the two overseas subsidiary companies of Wipro filed the form on March 26, 2010 for making amalgamation effective from April 1, 2010, it said.
Wipro Networks provides communication solutions that include consulting, voice, data and converged solutions and managed services.
WMNetServ is a managed network telecommunications services provider. In July 2006, Wipro and Motorola formed it as a joint venture to deliver world-class capabilities in managed services to public and private network customers.
The joint venture was formed to deliver outsourced telecom services to help customers focus on their core business and gain access to capabilities not available internally.
The two branch offices of the subsidiaries merged with the company following filing of e-form along with certified copies of orders of the Karnataka High Court with the respective offices of the Registrar of Companies, Wipro informed the Bombay Stock Exchange.
The Indian branch offices of the two overseas subsidiary companies of Wipro filed the form on March 26, 2010 for making amalgamation effective from April 1, 2010, it said.
Wipro Networks provides communication solutions that include consulting, voice, data and converged solutions and managed services.
WMNetServ is a managed network telecommunications services provider. In July 2006, Wipro and Motorola formed it as a joint venture to deliver world-class capabilities in managed services to public and private network customers.
The joint venture was formed to deliver outsourced telecom services to help customers focus on their core business and gain access to capabilities not available internally.
IT market, Wipro
Wipro expands its operations in Australia, opens development centre
In a bid to expand operations, India's leading software company Wipro today opened its new Australian Development Centre here.
Victorian premier John Brumby officially opened the centre and said it added to the state's impressive track record in attracting investment.
"We are working hard to attract investment from around the world and create thousands of Victorian jobs," Brumby said adding "Victoria is a great place to invest, with a growing economy, a highly skilled workforce, one of the most attractive lifestyles in the world, a competitive tax system and a supportive government."
Brumby said the opening has followed a number of Information and Communication Technologies companies choosing to expand their Victorian operations this year, including Kovair, Attra, Infosys, and BIT - creating 210 Victorian jobs.
Wipro's Australian Development Centre will provide consulting, software development, testing and business process services to domestic and global companies in Australia.
In a year, Wipro has grown its number of Australian employees from 450 to 700 with more than half of these based in Victoria.
Rajat Mathur, head of Sales and Operations for Wipro Asia Pacific, said the company was extremely pleased to be increasing its investment in Australia by establishing this new centre in Melbourne.
"Wipro's Melbourne operations will play an integral role in the company's expansion into Australia. We enjoy a good deal of business success in Australia, as Australian industry demonstrates a continued appetite for our global service delivery model," Mathur said.
"We chose Melbourne for its business environment, ready talent pool and excellent infrastructure - this combination of support and talent is what we look for in a strategic business location" he added.
The opening follows visits to the company's Indian offices by Brumby in September last year and ICT Minister John Lenders in February this year.
Lenders said the announcement was further evidence of the Victorian Government working closely with the world's best ICT companies to create highly skilled jobs in the sector.
"We are providing strong leadership to create skilled jobs in Victoria and to keep our state at the forefront of new technology," Lenders said.
Victoria is home to a very strong ICT industry sector and with over 84,000 employees, accounted for more than a third of Australia's ICT services, products and revenue, Brumby said.
Victorian premier John Brumby officially opened the centre and said it added to the state's impressive track record in attracting investment.
"We are working hard to attract investment from around the world and create thousands of Victorian jobs," Brumby said adding "Victoria is a great place to invest, with a growing economy, a highly skilled workforce, one of the most attractive lifestyles in the world, a competitive tax system and a supportive government."
Brumby said the opening has followed a number of Information and Communication Technologies companies choosing to expand their Victorian operations this year, including Kovair, Attra, Infosys, and BIT - creating 210 Victorian jobs.
Wipro's Australian Development Centre will provide consulting, software development, testing and business process services to domestic and global companies in Australia.
In a year, Wipro has grown its number of Australian employees from 450 to 700 with more than half of these based in Victoria.
Rajat Mathur, head of Sales and Operations for Wipro Asia Pacific, said the company was extremely pleased to be increasing its investment in Australia by establishing this new centre in Melbourne.
"Wipro's Melbourne operations will play an integral role in the company's expansion into Australia. We enjoy a good deal of business success in Australia, as Australian industry demonstrates a continued appetite for our global service delivery model," Mathur said.
"We chose Melbourne for its business environment, ready talent pool and excellent infrastructure - this combination of support and talent is what we look for in a strategic business location" he added.
The opening follows visits to the company's Indian offices by Brumby in September last year and ICT Minister John Lenders in February this year.
Lenders said the announcement was further evidence of the Victorian Government working closely with the world's best ICT companies to create highly skilled jobs in the sector.
"We are providing strong leadership to create skilled jobs in Victoria and to keep our state at the forefront of new technology," Lenders said.
Victoria is home to a very strong ICT industry sector and with over 84,000 employees, accounted for more than a third of Australia's ICT services, products and revenue, Brumby said.
Sunday, March 28, 2010
IT market, new openings
Convergys to recruit over 1,000 employees
Convergys, global human resource and billing services provider, on Wednesday, said that it would hire more than 1,000 employees in Gurgaon (Haryana) in the next three months.
The company said 30 per cent of the hiring would include fresh graduates while the rest would be experienced talent.
“It has been a positive year for us and we have started a premium candidate programme under which we will be hiring employees aged between 20-25 years. The hiring has started from Wednesday and would be over in the next three months,” director (recruitment) Convergys’ Customer Management Operations in India, Ashutosh Sinha told Financial Chronicle on phone.
He said these jobs are the result of new businesses from telecommunications and financial services clients, especially from the US and UK, who will provide a range of voice-based support to the clients’ customers there. Apart from hiring, Sinha said the company would also raise wages for the existing employees including team leaders and managers in the company in the next two-to-three weeks.
“We have decided some bonuses and wage hikes for our existing employees of customer care associates and management staff. Our intent is that as it is a good year for Convergys, so there should be some fruitful results for them too,” he added.
The company at present employs around 11,000 people across India in its eight centres. On asked, what kind of investment the company would pump in for this, Sinha said, “It will be pretty much in par with the international standard. We have done some market analysis on that and will forward with it.”
Convergys, headquartered in Cincinnati, Ohio has around 70,000 employees in 82 customer contact centres and other facilities in the US, Canada, Latin America, Europe, West Asia and Asia and our global.
The company said 30 per cent of the hiring would include fresh graduates while the rest would be experienced talent.
“It has been a positive year for us and we have started a premium candidate programme under which we will be hiring employees aged between 20-25 years. The hiring has started from Wednesday and would be over in the next three months,” director (recruitment) Convergys’ Customer Management Operations in India, Ashutosh Sinha told Financial Chronicle on phone.
He said these jobs are the result of new businesses from telecommunications and financial services clients, especially from the US and UK, who will provide a range of voice-based support to the clients’ customers there. Apart from hiring, Sinha said the company would also raise wages for the existing employees including team leaders and managers in the company in the next two-to-three weeks.
“We have decided some bonuses and wage hikes for our existing employees of customer care associates and management staff. Our intent is that as it is a good year for Convergys, so there should be some fruitful results for them too,” he added.
The company at present employs around 11,000 people across India in its eight centres. On asked, what kind of investment the company would pump in for this, Sinha said, “It will be pretty much in par with the international standard. We have done some market analysis on that and will forward with it.”
Convergys, headquartered in Cincinnati, Ohio has around 70,000 employees in 82 customer contact centres and other facilities in the US, Canada, Latin America, Europe, West Asia and Asia and our global.
Friday, March 26, 2010
IT market
India Inc may give up to 12% salary hike in 2010-11: Ernst and Young
India Inc may give salary hikes in the range of 9-12 per cent in the coming financial year to retain talent amid revival in the job market, according to consultancy Ernst and Young said.
Most companies are expecting higher attrition levels over the next few months on jobs coming back into the economy resulting in salary hikes being used as a tool to retain talent.
"At an overall level, extraordinary jump in increments do not seem probable and the average salary increase is likely to be in the range of 9-12 per cent," Ernst & Young partner and national head (People & Organisation) N S Rajan told PTI.
However, Rajan cautioned that along with the pay hikes, companies are likely to follow a cautious approach of keeping tight monitoring and controlling of any additional salary costs.
In spite of excitement around economic recovery, average pay hikes across sectors would be slightly conservative.
"While on one hand pharma and FMCG companies will lead the space with increments in the range of 10-13 per cent, the IT and technology companies will give reasonable increments close to eight per cent," Rajan added.
Moreover, the telecom sector is expected to give above average salary hikes in the range of 12-15 per cent.
Most companies are expecting higher attrition levels over the next few months on jobs coming back into the economy resulting in salary hikes being used as a tool to retain talent.
"At an overall level, extraordinary jump in increments do not seem probable and the average salary increase is likely to be in the range of 9-12 per cent," Ernst & Young partner and national head (People & Organisation) N S Rajan told PTI.
However, Rajan cautioned that along with the pay hikes, companies are likely to follow a cautious approach of keeping tight monitoring and controlling of any additional salary costs.
In spite of excitement around economic recovery, average pay hikes across sectors would be slightly conservative.
"While on one hand pharma and FMCG companies will lead the space with increments in the range of 10-13 per cent, the IT and technology companies will give reasonable increments close to eight per cent," Rajan added.
Moreover, the telecom sector is expected to give above average salary hikes in the range of 12-15 per cent.
Infosys, IT market
Infosys reviewing employee rating system
India's second-largest IT company, Infosys Technologies, is reportedly reviewing its employee rating system, iRace --Infosys Role and Career Enhancement.
According to a news report in D&A, the company has set up a working group to review the employee appraisal system. The initiative designed by consulting firm Mercer with the idea of mapping positions with experience and skill levels is said to have met with widespread resentment.
Previously, positions and promotions were often given arbitrarily, based on an employee's bargaining strength, which often was substantial considering jobs were aplenty. Many were given managerial responsibilities within three to four years, often leading to clients complaining about their lack of technology skills.
While iRace's objective appeared laudable, it suffered in its implementation, the worst of which was to make it applicable with retrospective effect. Many employees were demoted on the ground that they did not meet iRace's experience standards. So, senior project managers went down to project managers, project managers to technical leads, some even went down two levels.
Designations are so important for everybody. And if the management found somebody good enough for a certain position earlier, how can they now say that he is not? What makes it worse is that, all those affected were at lower levels. Nobody in the senior delivery manager and higher positions were affected," said an employee.
In fact, according to a recent report from brokerage firm CLSA, over 4,000 employees may have resigned from Infosys in February.
Though the large attrition figure is said to be due to the improvement in the economy, some industry observers and Infosys employees also said that another reason for the high attrition could be due to iRACE.
Incidentally, so far Nandita Gurjar, senior vice president and global HR head of Infosys, has strongly maintained that iRACE is not the driver behind exits and that the complaints are coming from a “minority”. Also, that promotions cannot happen at the same pace as the pre-crisis times, unless growth returns to the heady levels.
According to a news report in D&A, the company has set up a working group to review the employee appraisal system. The initiative designed by consulting firm Mercer with the idea of mapping positions with experience and skill levels is said to have met with widespread resentment.
Previously, positions and promotions were often given arbitrarily, based on an employee's bargaining strength, which often was substantial considering jobs were aplenty. Many were given managerial responsibilities within three to four years, often leading to clients complaining about their lack of technology skills.
While iRace's objective appeared laudable, it suffered in its implementation, the worst of which was to make it applicable with retrospective effect. Many employees were demoted on the ground that they did not meet iRace's experience standards. So, senior project managers went down to project managers, project managers to technical leads, some even went down two levels.
Designations are so important for everybody. And if the management found somebody good enough for a certain position earlier, how can they now say that he is not? What makes it worse is that, all those affected were at lower levels. Nobody in the senior delivery manager and higher positions were affected," said an employee.
In fact, according to a recent report from brokerage firm CLSA, over 4,000 employees may have resigned from Infosys in February.
Though the large attrition figure is said to be due to the improvement in the economy, some industry observers and Infosys employees also said that another reason for the high attrition could be due to iRACE.
Incidentally, so far Nandita Gurjar, senior vice president and global HR head of Infosys, has strongly maintained that iRACE is not the driver behind exits and that the complaints are coming from a “minority”. Also, that promotions cannot happen at the same pace as the pre-crisis times, unless growth returns to the heady levels.
IT market, new openings
Convergys to hire over 1,000
Global human resource and billing service provider Convergys Corporation today said it will hire more than 1,000 employees in the country over the next three months.
The company would hire over 1,000 people for its Gurgaon office in the country, the New York Stock Exchange-listed firm said in a statement.
"Convergys provides an outstanding quality of service to our clients, which is why they continue to entrust us with more business. We will hire the top quartile of candidates to ensure that we deliver superior service levels consistently," Convergys' Customer Management (India Ops) Director of Recruitment Ashutosh Sinha said.
The new jobs are for supporting its increased business from telecommunications and financial services clients and the employees taken on board would provide a wide range of voice-based support to the clients' customers, it said.
Convergys has about 70,000 employees in 82 customer contact centres and other facilities in the US, Canada, Latin America, Europe, the Middle East and Asia.
In addition to comprehensive training, Convergys offers employees a positive work environment, competitive wages and benefits including tuition reimbursement, the statement added.
The company would hire over 1,000 people for its Gurgaon office in the country, the New York Stock Exchange-listed firm said in a statement.
"Convergys provides an outstanding quality of service to our clients, which is why they continue to entrust us with more business. We will hire the top quartile of candidates to ensure that we deliver superior service levels consistently," Convergys' Customer Management (India Ops) Director of Recruitment Ashutosh Sinha said.
The new jobs are for supporting its increased business from telecommunications and financial services clients and the employees taken on board would provide a wide range of voice-based support to the clients' customers, it said.
Convergys has about 70,000 employees in 82 customer contact centres and other facilities in the US, Canada, Latin America, Europe, the Middle East and Asia.
In addition to comprehensive training, Convergys offers employees a positive work environment, competitive wages and benefits including tuition reimbursement, the statement added.
Monday, March 22, 2010
IT market, Layoffs in India
Siemens to axe 4,200 jobs from IT business
Diversified German conglomerate Siemens AG has said it will reduce headcount by 4,200 people from its IT business worldwide by 2011 as part of reorientation.
In a statement, the company said it would eliminate 4,200 jobs at Siemens IT Solutions and Services (SIS) worldwide by the autumn of 2011. The company currently employs about 35,000 people in its IT business globally.
Siemens Group has a good presence in India, where it provides direct employment to over 17,000 people.
Of the total number of 4,200, around 2,000 jobs would be axed in Germany, the company said without providing details for the rest of the job cuts.
"As part of the reorientation, plans call for eliminating some 4,200 of about 35,000 jobs worldwide by 2011. Roughly 2,000 of the jobs affected are in Germany," Siemens said.
Besides, Siemens is also planning to hive off its IT unit into a separate business entity.
While making job cuts, Siemens said it would "exhaust all possibilities for voluntary measures and to implement the cutbacks in as socially compatible a way as possible.
"Measures will include, for example, the termination of employment contracts by mutual consent or the non-renewal of temporary contracts. The required consultations with employee representatives will be initiated immediately," it added.
Moreover, Siemens said it would invest over 500 million euros into the SIS by 2012.
Siemens Group currently employs more than 4,00,000 people across the globe in its wide range of operations spanning from energy sector to healthcare and financial sector.
In a statement, the company said it would eliminate 4,200 jobs at Siemens IT Solutions and Services (SIS) worldwide by the autumn of 2011. The company currently employs about 35,000 people in its IT business globally.
Siemens Group has a good presence in India, where it provides direct employment to over 17,000 people.
Of the total number of 4,200, around 2,000 jobs would be axed in Germany, the company said without providing details for the rest of the job cuts.
"As part of the reorientation, plans call for eliminating some 4,200 of about 35,000 jobs worldwide by 2011. Roughly 2,000 of the jobs affected are in Germany," Siemens said.
Besides, Siemens is also planning to hive off its IT unit into a separate business entity.
While making job cuts, Siemens said it would "exhaust all possibilities for voluntary measures and to implement the cutbacks in as socially compatible a way as possible.
"Measures will include, for example, the termination of employment contracts by mutual consent or the non-renewal of temporary contracts. The required consultations with employee representatives will be initiated immediately," it added.
Moreover, Siemens said it would invest over 500 million euros into the SIS by 2012.
Siemens Group currently employs more than 4,00,000 people across the globe in its wide range of operations spanning from energy sector to healthcare and financial sector.
Wednesday, March 17, 2010
IT market, new openings
Cisco India's hiring plan on track, says John Chambers
Network-equipment maker Cisco Systems on Friday said it remains committed to the Indian market and its plans to increase headcount to 10,000 is on track.
“With all the appropriate caveats, the global econnomy is turning. We are deeply committed (to India). We are completing construction on two additional areas, which can house as many as 3,000 more,” Cisco CEO John Chambers said at a private function here.
The headcount India is projected to rise to 10,000 from about 6,000 currently, he added. However, Chambers did not divulge the timeframe.
“With all the appropriate caveats, the global econnomy is turning. We are deeply committed (to India). We are completing construction on two additional areas, which can house as many as 3,000 more,” Cisco CEO John Chambers said at a private function here.
The headcount India is projected to rise to 10,000 from about 6,000 currently, he added. However, Chambers did not divulge the timeframe.
IT market, new openings
MphasiS set to offer increments
Software services company MphasiS will roll out a salary increment for its 35,000-employees from May 1 this year, CEO Ganesh Ayyar told mediapersons at Pune. The company recently started a 2,000-seater global command and control centre in Pune for its remote infrastructure monitoring business vertical. The centre currently houses 600 technical staff supporting 450 clients worldwide.
While most companies had cut salaries in the slowdown time, MphasiS had retained them, linking the variable portion to the company’s performance as bonus. Mr Ayyar said: “Though this did give more money to the employees, most are still comfortable with the traditional increments, which is why we have decided to effect the hike,” adding that it had no relation to the revival of the economy.
While most companies had cut salaries in the slowdown time, MphasiS had retained them, linking the variable portion to the company’s performance as bonus. Mr Ayyar said: “Though this did give more money to the employees, most are still comfortable with the traditional increments, which is why we have decided to effect the hike,” adding that it had no relation to the revival of the economy.
IT market, new openings
ITC Infotech looks to hire over 1,800 people by March 2011
IT services and solutions firm ITC Infotech is looking to hire over 1,800 employees by March next year in its various offices across the country.
"We are looking to ramp up our headcount by more than 50 per cent to 5,000 employees by March next year," ITC Infotech HR head Anand Talwar told PTI.
The Bangalore-based company's current employee strength is 3,200 across its offices in various cities, including Bangalore, Kolkata and Hyderabad.
"We are looking to ramp up our headcount by more than 50 per cent to 5,000 employees by March next year," ITC Infotech HR head Anand Talwar told PTI.
The Bangalore-based company's current employee strength is 3,200 across its offices in various cities, including Bangalore, Kolkata and Hyderabad.
Subscribe to:
Posts (Atom)