Source: TheTimesOfIndia
The fear of losing his job made a 23-year-old trainee engineer from Bengal, working at Infosys Technology Mysore, end his life, reported express india.
Abhijeet Mukherjee, a graduate from the Meghnad Saha College of Engineering and Technology, had not performed well in the internal examinations of the company held on Tuesday. Thoughts about this forced him to take the extreme step on Wednesday morning. His body reached the city Friday morning and was later cremated at the Shibpur crematorium.
The suicide note of the deceased, however, does not indict the company. His relatives said he was under pressure after 42 employees of the company were sacked as they did not perform well in the internal examinations.
Mukherjee had appeared in four internal examinations since then and scored well in three of them. The re-examination of the fourth paper was held on Tuesday in which he again did not perform well. Mukherjee called his parents and said that he was prepared for the test and knew the answers also but became nervous during the exam.
On Tuesday night, Mukherjee spoke to his father at 10.30 pm and said he was not feeling well as he had not been able to perform well in the internal examinations. His father, Asish Mukherjee (48), an employee with Pidlite Industries, tried to calm him down saying that even if he lost the job he could return and try for other jobs.
Next day his mother, Chandra Mukherjee (46), tried to call him but his mobile went unreachable. Later, he was found hanging from the ceiling.
Tuesday, April 21, 2009
Satyam
Laying off Satyam's employees last option: Tech Mahindra
The new owner of Satyam Computer, Tech Mahindra, has said it has adequate working capital to meet the expenses of the company it is acquiring, and laying off Satyam's employees will the last option only.
"We have the requisite capital to meet the expenses including salaries. The cash flow will be maintained," Tech Mahindra Director and President of the IT sector, (Mahindra Group) Ulhas Yargop told reporters on Monday after the first-ever meeting of Satyam Board and senior officials of Tech Mahindra.
Tech Mahindra Vice-Chairman and Managing Director Vineet Nayyar said after taking over Satyam, it will go into the entire gamut of the company and may decide upon retrenchment of employees, which would be the last option.
"We have the requisite capital to meet the expenses including salaries. The cash flow will be maintained," Tech Mahindra Director and President of the IT sector, (Mahindra Group) Ulhas Yargop told reporters on Monday after the first-ever meeting of Satyam Board and senior officials of Tech Mahindra.
Tech Mahindra Vice-Chairman and Managing Director Vineet Nayyar said after taking over Satyam, it will go into the entire gamut of the company and may decide upon retrenchment of employees, which would be the last option.
Oracle-Sun deal to create a $1.5 bn entity in India
Source: TheEconomicTimes
Oracle’s acquisition of Sun Microsystems will create a $1.5-billion (Rs 7,474 crore) entity in India, and help Oracle compete more effectively with arch rival IBM by bundling its business software with Sun’s computer servers, and offering them at competitive rates to customers in the country.
This transaction will help Oracle address newer segments of India’s $34 billion market (Forrester estimate) for IT products and services, and increase its share of the overall enterprise software services market.
Customers, such as Punjab National Bank (PNB), which already uses hundreds of computer servers from Sun Microsystems and runs several applications through Oracle’s database software, this transaction will surely add value. “Since we have both Oracle and Sun as important vendors, this acquisition will bring a lot of value,” said RIS Sidhu, chief information officer (CIO) of PNB.
Oracle’s acquisition of Sun Microsystems will create a $1.5-billion (Rs 7,474 crore) entity in India, and help Oracle compete more effectively with arch rival IBM by bundling its business software with Sun’s computer servers, and offering them at competitive rates to customers in the country.
This transaction will help Oracle address newer segments of India’s $34 billion market (Forrester estimate) for IT products and services, and increase its share of the overall enterprise software services market.
Customers, such as Punjab National Bank (PNB), which already uses hundreds of computer servers from Sun Microsystems and runs several applications through Oracle’s database software, this transaction will surely add value. “Since we have both Oracle and Sun as important vendors, this acquisition will bring a lot of value,” said RIS Sidhu, chief information officer (CIO) of PNB.
Polaris net profit up 79%
Chennai-based Polaris Software said its net profit was up 79 per cent at Rs 130.71 crore for 2008-09, compared to Rs 73.22 crore earned the previous year.
The company's revenues grew 25 per cent to stand at Rs 1,377.95 crore from Rs 1,099.3 logged the fiscal before, it said in a regulatory statement. Subsequently, its earnings per share are set to increase from Rs 13.25 now to about Rs 15 by end of 2009-10, the statement added.
The company's revenues grew 25 per cent to stand at Rs 1,377.95 crore from Rs 1,099.3 logged the fiscal before, it said in a regulatory statement. Subsequently, its earnings per share are set to increase from Rs 13.25 now to about Rs 15 by end of 2009-10, the statement added.
Layoffs in India
Freescale may shut shop, to cut 250 staff
Source: mydigitalfc.com
Freescale Semiconductor is likely to shut down its Bangalore facility soon. The company officials made this announcement in a meeting with employees last week in Bangalore. Freescale’s unit in Bangalore is being sold to Consun, according to sources.
“Out of the global employee strength of 1,600 employees, Freescale is planning to retain only 100 of its staff strength in this division following the sell-off. As a result, about 250-odd employees in the Bangalore facility will be laid off,” said an employee, who did not wish to be named. The 250-odd employees in Noida could also be affected by the sell-off.
Company officials said that Freescale was selling its intellectual property rights to Consun, excluding its employees.
“The compensation packages that will be offered will be negligible. We will
get a month’s notice period and packages based on the number of years of experience with Freescale,” said another employee.
According to a global spokesperson of the firm: “Freescale announced during its Q4 2008 earnings call on Jan 29 that it has been unsuccessful in its efforts to sell its cellular products business as a single entity. At this point, those activities are still underway and there is no update to provide regarding the decision.”
Freescale Semiconductor is likely to shut down its Bangalore facility soon. The company officials made this announcement in a meeting with employees last week in Bangalore. Freescale’s unit in Bangalore is being sold to Consun, according to sources.
“Out of the global employee strength of 1,600 employees, Freescale is planning to retain only 100 of its staff strength in this division following the sell-off. As a result, about 250-odd employees in the Bangalore facility will be laid off,” said an employee, who did not wish to be named. The 250-odd employees in Noida could also be affected by the sell-off.
Company officials said that Freescale was selling its intellectual property rights to Consun, excluding its employees.
“The compensation packages that will be offered will be negligible. We will
get a month’s notice period and packages based on the number of years of experience with Freescale,” said another employee.
According to a global spokesperson of the firm: “Freescale announced during its Q4 2008 earnings call on Jan 29 that it has been unsuccessful in its efforts to sell its cellular products business as a single entity. At this point, those activities are still underway and there is no update to provide regarding the decision.”
cognizant, CTS, H1-B
Just 44,000 H1B petitions received so far: USCIS
As against the Congressional mandated per annum quota of 65,000, the US Citizenship and Immigration Services (USCIS) has received just 44,000 H-1B petitions in the first three weeks after the American agency started accepting applications for the most sought work visas for highly skilled professionals.
Professionals from India, specially those from the IT sector, have been benefitted the most.
But because of the certain provisions in the stimulus package which prevents American companies, having received federal grant money, from hiring overseas highly skilled workers, not many companies are willing to apply for the H-1B visa petitions this year.
"USCIS has received approximately 44,000 H-1B petitions counting toward the Congressionally-mandated 65,000 cap. The agency continues to accept petitions subject to the general cap," USCIS said in a statement Monday.
Although it has received 20,000 petitions in the advanced degrees categories, the USCIS said it would continue to accept advanced degree petitions since experience has shown that not all petitions received are approvable.
"Congress mandated that the first 20,000 of these types of petitions are exempt from any fiscal year cap on available H-1B visas," the USCIS said. "For cases filed for premium processing during the initial five-day filing window, the 15-day premium processing period began April 7.
"For cases filed for premium processing after the filing window, the premium processing period begins on the date USCIS takes physical possession of the petition," it said.
Professionals from India, specially those from the IT sector, have been benefitted the most.
But because of the certain provisions in the stimulus package which prevents American companies, having received federal grant money, from hiring overseas highly skilled workers, not many companies are willing to apply for the H-1B visa petitions this year.
"USCIS has received approximately 44,000 H-1B petitions counting toward the Congressionally-mandated 65,000 cap. The agency continues to accept petitions subject to the general cap," USCIS said in a statement Monday.
Although it has received 20,000 petitions in the advanced degrees categories, the USCIS said it would continue to accept advanced degree petitions since experience has shown that not all petitions received are approvable.
"Congress mandated that the first 20,000 of these types of petitions are exempt from any fiscal year cap on available H-1B visas," the USCIS said. "For cases filed for premium processing during the initial five-day filing window, the 15-day premium processing period began April 7.
"For cases filed for premium processing after the filing window, the premium processing period begins on the date USCIS takes physical possession of the petition," it said.
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