Germany's SAP posted a worse than expected 8 percent fall in its first-quarter operating profit on Wednesday, as software revenues slumped, and told investors not to expect an upturn before next year.
Leo Apotheker, who shares the top position at SAP with Henning Kagermann until June, said the first quarter had been the "toughest quarter since World War Two". But, speaking on CNBC, he added: "Hopefully we will see an upturn in 2010".
Thursday, April 30, 2009
Layoffs in India
Yahoo! India lays off 60; to hire 130
Global search engine player Yahoo!, which recently announced a five per cent lay-off globally, is learnt to have asked around 60 employees from its Bangalore-based R&D centre to quit the company.
The California-based company is also planning to hire 130 professionals in India in areas like product engineering.A company spokesperson, however, declined to comment.
Sources said the recent announcement of Yahoo!’s global layoff, will impact less than four per cent of Yahoo! India R&D’s workforce, which at present is 1,500. A significant number of the employees are being laid off on performance grounds, and some of them on account of reorganisation, leading to their becoming functionless.
This move would allow the company to focus on strategic priorities and provide flexibility for targeted hiring in key business areas, they said. Yahoo! would continue to hire in business-critical areas, in India.
The company currently has over 130 openings, sources added. This is the second lay-off Yahoo! India will be undertaking following global announcements.
In December 2008, the company had served notices to three per cent of its India workforce due to the ongoing slowdown.
Last week, the company had said it would lay off nearly 700 workers, or five per cent of its workforce.The company has been on a cost-cutting drive since Carol Bartz took over as CEO in January.
It has taken steps to focus on fundamentals as it seeks to revive growth in a tough economy and with fierce competition from Google Inc.
The California-based company is also planning to hire 130 professionals in India in areas like product engineering.A company spokesperson, however, declined to comment.
Sources said the recent announcement of Yahoo!’s global layoff, will impact less than four per cent of Yahoo! India R&D’s workforce, which at present is 1,500. A significant number of the employees are being laid off on performance grounds, and some of them on account of reorganisation, leading to their becoming functionless.
This move would allow the company to focus on strategic priorities and provide flexibility for targeted hiring in key business areas, they said. Yahoo! would continue to hire in business-critical areas, in India.
The company currently has over 130 openings, sources added. This is the second lay-off Yahoo! India will be undertaking following global announcements.
In December 2008, the company had served notices to three per cent of its India workforce due to the ongoing slowdown.
Last week, the company had said it would lay off nearly 700 workers, or five per cent of its workforce.The company has been on a cost-cutting drive since Carol Bartz took over as CEO in January.
It has taken steps to focus on fundamentals as it seeks to revive growth in a tough economy and with fierce competition from Google Inc.
IBM
IBM India awarded contract by HDFC Bank
HDFC Bank, a private sector bank in India, has announced an agreement with information technology company IBM India to build a cost-effective IT framework that will support its strong business growth. According to the company, the collaboration will enable HDFC Bank to keep its credit card processing requirements in-house while offering uninterrupted service to its customers. It will also eliminate additional investments in data centre costs and offer the option to migrate other HDFC Bank applications, such as core banking, to System z mainframes.
The collaboration is also expected to benefit customers by adding more features on existing credit card products, enabling higher processing speed and quicker response time. It will also scale up the customer service process and enhance interfacing capabilities with other applications, leading to more features on self-service channels like Internet.
The collaboration is also expected to benefit customers by adding more features on existing credit card products, enabling higher processing speed and quicker response time. It will also scale up the customer service process and enhance interfacing capabilities with other applications, leading to more features on self-service channels like Internet.
IBM
Bizerba India signs up IBM PartnerWorld Program
Leading retail solution provider Bizerba India has announced that it has joined the IBM PartnerWorld Program. According to a company press release, Bizbera will work closely with IBM India to provide a one stop solution to retailers across the country.
Layoffs in USA
Another round of layoffs at Clear Channel
The parent of radio-station owner Clear Channel Communications Inc. is laying off about 590 people nationwide, including about two dozen in Colorado.
The layoffs follow 1,850 job cuts nationwide by CC Media Holdings Inc. on Jan. 20. Locally, the latest layoffs affect mostly part-time workers. The company also said it would suspend its match of employee 401(k) retirement-plan contributions unless it reaches 90 percent of its year-end targets, the Wall Street Journal reported.
The layoffs follow 1,850 job cuts nationwide by CC Media Holdings Inc. on Jan. 20. Locally, the latest layoffs affect mostly part-time workers. The company also said it would suspend its match of employee 401(k) retirement-plan contributions unless it reaches 90 percent of its year-end targets, the Wall Street Journal reported.
Hutchinson Tech cuts another 300 jobs
The city of Hutchinson was dealt a devastating blow as its largest employer announced a new round of job cuts--mere months after laying off nearly 1,000 workers.
A spokesperson for Hutchinson Technology says the company cut 200 jobs at its Hutchinson location, 39 from its Plymouth location, and 61 from its Eau Claire, Wis. plant.
Angie Jergens, owner of the popular Hutch Café on Main Street, says she’s had to cut staff after the disk-drive parts maker announced the first major layoff in January.
A spokesperson for Hutchinson Technology says the company cut 200 jobs at its Hutchinson location, 39 from its Plymouth location, and 61 from its Eau Claire, Wis. plant.
Angie Jergens, owner of the popular Hutch Café on Main Street, says she’s had to cut staff after the disk-drive parts maker announced the first major layoff in January.
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