Monday, December 22, 2008

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TCS to hire PhD students from IITs without interview


Tata Consultancy Services (TCS) CEO and Managing Director S Ramadorai said that the company would hire computer science PhD students who have graduated from any Indian Institute of Technology (IIT) in the country without any interviews for the next five years.
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Companies likely to cut planned salary hikes


New Delhi: Here is a bad news again for employees as many companies are likely to move away from the planned salary hikes in 2009. Indicating further reduction in work force, a recent Mercer survey says companies have conceded that workforce reduction would occur and hiring would become more selective and skill- based.  

Of hundreds of human resource and finance professionals in India surveyed, 83 percent believe that their companies have planned to look closely at holding down the level of compensation increases and salary increases are likely to be lower than originally planned in 2009. But surprisingly, very few Indian companies surveyed are considering the more drastic step of freezing 2009 salaries at 2008 figures, with 19 percent of survey respondents saying that such a step is likely and 24 percent saying a salary freeze is somewhat likely.

Half of the Indian respondents say that their company is likely to reduce previously budgeted 2009 bonus payouts for performance in 2008. "It is now time to plug gaps where mediocre performance has been rewarded with high pay. Companies need to drive robust performance management and adopt a performance-based reward strategy. Employees should increasingly focus on acquiring new skills and developing an entrepreneurial mindset," opined Padma Ravichandar, Country Leader, Mercer Consulting (India). 

The survey also focuses on human resources and says that in an environment in which they are asked to operate with reduced resources, HR continues to be considered core strategic to most companies' business. 27 percent of the respondents said their companies plan to maintain their investments to improve the overall HR services. 

Saturday, December 20, 2008

Layoffs in USA - Dec 19th: Update

Sovereign Bancorp and Electronic Arts announce 2,000 job cuts
Sovereign Bancorp and video-game designer Electronic Arts announced on Friday that they are cutting a total of 2,000 jobs, laying blame on the recession.

Barclays Capital
fires Lehman Brothers staff
Barclays Capital, the investment banking branch of Britain's Barclays Plc. is dismissing a report it was delaying the layoffs of 3,500 employees, who have lost their jobs as part of the company’s takeover of Lehman Brothers. The New York Post said Barclays was delaying with the layoffs until after the New Year celebration.

Indefinite Layoffs At CAT Mossville
Caterpillar is indefinitely laying off more than 800 workers at its Mossville plant starting February 23rd.

Aspyr Confirms Layoffs
Aspyr Media has confirmed it's laying off an unspecified number of staffers due to the economic downturn.

Citizens Financial lays off 900
Citizens Financial Group announced 900 layoffs today in their commercial, retail and global transaction services divisions.

Glam Media cuts Salaries to Avoid Layoffs

Sovereign Bank announces 112 layoffs

Parker Hannifin announces layoffs in Alliance

Silicon Valley jobless rate up amid thousands of job cuts
The unemployment rate in the San Jose region rose to 7.2 percent in November as the number of non-farm workers dropped by 4,300 from a year ago.
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Oracle India rules out salary cuts



Source: IT Examiner
Allen Mathew, senior director in human resources, Oracle India has ruled out salary cuts in the company.

Mathew said, “We don’t go outside to recruit and we don’t go to consultants for recruitment. We run our own recruitment agency. So we have a very different model. We don’t have requirement at this point of time. We only find people in specific domains to hire, but it is difficult.” He added, “There are no salary cuts or job cuts as of now. Coming to our pay cycle, we have got last year’s bonus. December will be the latest period. And we are still hiring. So far, we don’t have any such move in our company”.

However, he is unsure about the future. He said, “We don’t know what will happen in three years or five years or one year down the line. In the near future I don’t see anything like that.” On an optimistic note, he spoke about the situation in 2004 when Oracle started mergers and acquisitions (M&A) of other companies.  At that time everyone said that M&A won’t work for Oracle as there will be a great number of job cuts and layoffs.

Mathew said that difference of culture could be of great significance in M&A. He said that Oracle had acquired multicompanies and was quite successful. He also gave an example of cultural adaptation. At one company they had acquired, the cafeteria had no non-vegetarian food on the menu. Now all cafeterias in Oracle offer non-vegetarian food. Mathew used this example to show that Oracle could adapt to other companies’ policies and merging was not only in business but also in culture.

However, employees of I-flex solutions limited, now Oracle Financial Services Software Limited, have a different story to tell. They said that the vendors in the company were in the process of being sent out. The senior employees in the C and D bands got 10 to 15 per cent salary cut. The company has also cancelled bonus for the year. The company’s staff in the prime sourcing division was given a pay cut of about 50 per cent and was required to work only for three hours a day. The old I-flex management supposedly wanted to layoff the entire staff in the division. However, the Oracle management decided against it as Oracle feared that it would give an impression that the M&A was a failure.

Employees also said that the company had cancelled perks such as transport charges. Earlier, 50 per cent of the employees' transport charges were borne by the company. The company has also cancelled free snacks for the staff in the evening. Free food for its support staff also has been cancelled. The recruitment procedure is said to have become more rigid following M&A. The employees’ version gives a completely different picture to that given by Mathew.

Top IT companies are easing exit policies


Source: The Economic Times
According to sources in executive search firms, top IT companies companies are easing exit norms and imposing zero-tolerance regime to reduce their headcount without resorting to large-scale layoffs. IT majors like Infosys, Wipro, TCS, Polaris and Cognizant, to name a few, are easing stringent exit policies and waiving bonus tie-ins, they say.

Some are also increasing the working hours to squeeze out maximum productivity without doling out extra salaries. This is in sharp contrast to the last year when IT/ ITeS companies were doing everything possible—from doling out huge salary hikes and counter-offers—to keep their flock together in the face of a talent crunch across industries. Click here for complete story.
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Chip sales forecast: down this year, and getting worse



Reflecting plummeting worldwide sales of computers and other tech gadgets, global chip sales will be down this year — and even worse next year — a research group said Tuesday, representing the industry's first back-to-back decline in annual revenue since the firm began tracking the market in 1980. Click here for complete story.

6 reasons why Indian BPOs will keep booming



Source: Rediff.com
In recent months articles in The Wall Street Journal and Forbes.com have postulated that outsourcing information technology work to India was losing appeal.

To the contrary, the Indian outsourcing industry has entered a new era of growth. Infosys [Get Quote], Satyam [Get Quote], HCL [Get Quote], and other IT outsourcing majors that once specialized in lower-value tasks such as application maintenance and business process outsourcing are seeing increasing success in providing outsourced high-value tasks such as total IT outsourcing, R&D, and business transformation services.

1. Faced with high turnover, rising salaries, and a weak public education system, top Indian companies started investing heavily in workforce education and development.

2. Attrition rates have been remarkably low and are dropping.

3. Rising salaries in Indian IT shops are no longer a problem.

4. Faced with brutal cost-control pressures caused by the global economic downturn, many companies are more desperate to outsource than ever before.

5. There has always been a trickle of highly skilled workers returning from the U.S. and Europe to their home countries for family reasons and because they felt homesick.

6. India has been dramatically increasing the output of its engineering colleges, and now quality is improving.

Friday, December 19, 2008

Layoffs in USA - Dec 18th: Update



Boeing Co. continuing with layoff plan
Layoff notices for about 60 Boeing Wichita workers are going to be issued Friday the company says. “This is just the next round of our planned reduction for 2009,” he says.

Barclays Capital to make layoffs in new year: report
(Reuters) - Barclays Capital, the investment banking arm of Britain's Barclays Plc (BARC.L: Quote, Profile, Research), will inform employees about layoffs only after the new year, the New York Post said, citing sources.

Gillett Evernham Announce Layoffs
Gillett Evernham Motorsports officials say they will reduce their 2009 Nationwide Series program to a partial schedule and eliminate about 65 jobs in the process. Sponsorship played a key role in the decision.

Caterpillar has announced an undisclosed number of temporary layoffs at its facilities in Clayton and Sanford.

FedEx plans salary cuts
FedEx Corp. said Thursday its fiscal second-quarter earnings rose 3 percent, narrowly topping Wall Street's expectations, but it announced further cost cuts as demand continues to slump.

Genworth Financial Announces 1,000 Job Cuts
Genworth Financial, Inc. (NYSE: GNW) announced actions being taken to advance the company's strategic goals in response to the current economic downturn. These actions include the elimination of approximately 1,000 jobs globally.

ASML Holding cuts 1,000 jobs
ASML Holding NV, a key supplier to Intel Corp. and other computer chip makers, said that it is slashing 1,000 jobs - more than 10 percent of its global work force - following a plunge in orders.

Pentair cuts 1,600 jobs
Water treatment and storage systems maker Pentair Inc. said that it will cut more than 10 percent of its work force, or about 1,600 jobs, due to a faster-than-expected dropoff in demand and consumer spending.

American Apparel cuts hundreds of jobs
Los Angeles retailer American Apparel Inc. said that it had laid off several hundred employees companywide.

Motorola freezes pension plans
Motorola would permanently freeze its US pension plans from March 1, 2009, preserving vested benefits accrued by employees and retirees but eliminating future benefit accruals. "Employees would not receive a salary increase in 2009," a company statement said.

Plug Power lays off 90
Plug Power Inc. laid off 90 employees—one-third of its total work force—effective Thursday.

Omnicom Lays Of 3,500; More Layoffs on the Way?
Omnicom is to lay off 5 percent of its workforce, or about 3,500 of its 70,000 employees worldwide.

Targanta to cut 75 pct of workforce
Targanta Therapeutics Corp said it would cut about 75 percent of its workforce

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Economy starting to impact Oracle


Source:SiliconValley
Oracle on Thursday reported a slight drop in profit and modest growth in revenue for the fall quarter, as earnings fell short of analysts' expectations amid signs that the Redwood City software giant is feeling the effects of a global economic slowdown.
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IBM, Sun and SAP may suffer in 2009


Source: Bloomberg 
International Business Machines Corp., Sun Microsystems Inc. and SAP AG may be among the hardest hit technology companies in 2009 as spending on computers, software and services drops for the first time in six years. Click here for complete story.
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Wipro warns of H1-B visa cuts


Source: The Economic Times
NEW DELHI: Several leading IT companies have warned investors of a cutback in H1-Bs. In their US Securities and Exchange Commission filings, these IT companies, which includes Indian IT major Wipro, have alerted investors that it may become more difficult to obtain these visas in the future, reports a leading technology site. Click here for complete story.

Asia's tech CEOs still eye robust growth


Source: Rediff.com
According to results of the Deloitte Technology Fast 500 Asia-Pacific 2008 CEO Survey released Thursday, 86 percent of the 289 respondents indicated that they were either very or extremely confident in maintaining their company's growth over the next 12 months. Click here for complete story.

Thursday, December 18, 2008

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Layoffs and New Openings in India - Dec 17th: Update



Layoffs:

Tanla Solutions layoffs more than 100 people in Hyderabad

Mastek Ltd layoffs an 'unspecified' no. of people in Mumbai

Citi Financial Layoffs around 100 people in Delhi

Tough days ahead: Premji
BANGALORE: Wipro Chairman Azim H Premji has contended that economic recession may intensify as the nation goes forward and called for a strong foundation to counter the recession. 

"The situation is tough and the situation will continue to get tougher. We are coming into a situation of a reset of the world with a situation which is going to get ruthlessly tough," said Premji at the meet of The Indus Entrepreneurs (TiE) 2008, a non-profit organisation, (TES 2008). 


New Openings/Deals:
Accentia to hire 5,000
Healthcare solutions provider Accentia Technologies said it has bagged an order worth 22 million dollars (about Rs 104 crore) to provide services to a chain of hospitals in the US.

TCS to hire 3,500 in China 
Tata Consultancy Services (TCS) said it planned to hire over 3,500 people in China over the next four years to grow its business there and tap the country's large pool of engineers.

UK booster for Indian Law Process Outsourcing (LPO)
LONDON: In a dramatic shift, ten of England's top 30 law firms have outsourced back office functions or legal work to India, a consulting firm claimed in a report today. As RSG showed, clients too are outsourcing legal work. Deutsche Bank, BT, Sun Microsystems among others, are presented as case studies. 

Offshoring to hit IT biggies such as TCS, Wipro, Satyam and HCL
BANGALORE : Top Indian tech firms such as TCS, Wipro, Satyam and HCL will see their earnings before interest, taxes, depreciation and amortisation (EBITDA) margins -- a measure of operating profit--plunge below 20 per cent over the next three years, as these companies move more information technology projects to India, and align their operations with rising wages. Leading outsourcing customers such as GE, Royal Bank of Scotland and Bank of America plan to increase their offshore outsourcing in order to lower their cost of managing IT in the US and UK, where billing rates are more than twice of what can be achieved by sending work to offshore locations such as India.

TCS to provide technology for top Australian pension fund operator
Tata Consultancy Services Limited (TCS) has been chosen as prime systems integrator for a new core administration platform at Superpartners, the largest retirement fund administrator in Australia. The project is expected to be completed in less than 15 months, TCS said in a release, without giving the value of the contract.

Layoffs in USA - Dec 17th: Update


Aetna To Lay Off 1,000
Hartford-based Aetna notified affected employees Wednesday and said the job cuts will "align administrative expenses with the company's growth outlook for 2009 and redirect resources to areas with a greater potential for future growth."

Midway Games to cut 25 percent(180 people) of jobs
Midway Games Inc., maker of the popular "Mortal Kombat" video game series, will cut its head count by 180 people, or 25 percent of its work force, close a studio in Austin, Texas, and halt development of "noncore" games, according to a government filing.

RF Micro Devices cuts 250 jobs
Semiconductor maker RF Micro Devices Inc. said that it will eliminate 250 employees and scale back production as it seeks to reduce costs.

Silicon Storage to cut 120 jobs
Flash memory chip maker Silicon Storage Technology Inc. said that it plans to cut 120 jobs, or 17 percent of its work force, to lower costs amid the global economic turmoil.

Western Digital plans to cut 2,500 jobs
Hard drive maker Western Digital Corp. said that it plans to cut 2,500 jobs, or about 5 percent of its global work force, and will reduce executive pay in response to weakening demand for its products linked to the economic turmoil.

Ryder System Inc. to Eliminate 3,100 Jobs in Americas, Europe. 

UPS to lay off 72 at Dallas.

GE Capital Layoffs On Hold For New Severance Policy. 

Motorola Announces More Cuts, But Not Layoffs
The troubled company said it will temporarily suspend all matching contributions to employee’s 401(k) plans and will permanently freeze U.S. pension plans, the latter not affecting vested benefits.  There will also be a freeze on most 2009 salary increases.

EDS, MphasiS initiate 'Operation Verify'


Bangalore: If you thought that only an application for a passport necessitates a verification check, you are wrong. Global outsourcing provider EDS in collaboration with it's Indian subsidiary MphasiS, has decided to go all-out on an employee verification process on candidates who have joined the company before May 2007. Employees who have joined them post 2007 will also be covered if only reference checks have been carried out earlier. The process of verification of educational qualification and past employment records of the employees has been entrusted with a third party agency.

"With the economic slowdown looming ahead of us, such activities can only put us under even more strain. The fear of being laid off will be the uppermost thing in our minds even at the workplace," an HR executive of a leading BPO agency told Business Standard. On the other hand false educational claims and skill-set certifications produced by the employees can taint the very image and reputation of the entire industry as a whole.

However, an MphasiS spokesperson was quick to point out that this process is merely a routine exercise conducted periodically and should therefore not be linked to layoffs or mass-retrenchment schemes. Dismissing such fears in the near future, the spokesperson also said that those who had undergone reference checks by phone will need to undergo comprehensive background verification this time round.

EDS employees, who have been transferred to MphasiS after it's acquisition by Hewlett-Packard have been particularly critical of the move. Sources say that up to 400 employees at EDS-MphasiS, including senior personnel like delivery and project managers have been moved to the bench due to unavailability of newer contracts.

However in what could be a matter of utmost concern, the pulse in most leading consultancy firms is that this could be a godsend for organizations to carry out clockwork like precision lay-offs on the pretext of an economic slowdown. A good number of the staff is being benched from their existing projects, while some are being asked to take up projects that at best, provide a huge mismatch between the employee-skills and needed requirements. Also a refusal on the employees’ part to move to a 'less prestigious' project could very well lead to his/her termination from the company.

Organizations like the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) and the Bangalore Chamber Of Industry and Commerce (BCIC) are only echoing their sentiments with a sense of gloom. "Bangalore is likely to witness a slew of lay-offs not only in IT but also in other industrial sectors, including textiles and engineering, whose consequences will be widespread and seen in sectors such as hospitality, housing and retail. It is imperative that the Government of Karnataka intervenes and considers implementation of certain measures in consultation with various industry segments", BCIC President NN Upadhyay said at a meeting last week.

"The global meltdown, credit crunch in our economy along with our dependence on western markets will only compound our already existing problems." Upadhyay said.

IT companies raise referral bonus amid crisis


Source: The Economic Times
HYDERABAD: It is perhaps time for software employees in India to see the brighter side of the US recession and earn a quick buck. 

US firms such as Deloitte, ADP, Pegasystems and Broadridge in India have hiked the referral bonus for existing employees. This incentive is given to employees who refer people for slots that companies look for. 

Even as many multi-national companies are grappling in the downturn, some seem to be on a hiring spree for their Indian subsidiaries to do work that is being out-sourced here. Featuring in this list is consulting firm Deloitte in Hyderabad and Mumbai. The company, which employs over 6,000 people , doubled its referral bonus to employees last week. Existing employees can get Rs 10,000 to Rs 50,000. The company has also increased its campus intake by 20-30 % this year. The spokesperson of Deloitte, however , declined to comment. Click here for complete story.
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Infy to offer single-digit salary hikes

BANGALORE: Infosys Technologies, India’s second biggest software company, will offer single-digit salary hikes next financial year, joining its peers, including TCS and Wipro, that have indicated that they would either defer salary hikes, or look at 7-8% hikes, in order to cope with a lower demand for their services in the US and Europe, their key markets. 

IT companies seek staff help to tide over crisis

Source: The Economic Times
NEW DELHI: At a time when layoff and cost-cutting dominate news space and drive conversations in corner rooms, corridors and staff canteens of India Inc, causing widespread panic and uncertainty, a handful of IT firms including Infosys, Cisco, HP, NIIT and CSC, to name a few, are encouraging their employees to chip in with suggestions to overcome the global economic crisis. Besides getting access to some valuable inputs, the move will help these companies instill a sense of confidence into a flock living in constant fear of getting the axe. 

Cisco employees feel like members of a problem-solving team and not mute spectators , who are anxious whether they will be impacted personally,” says Cisco India director , human resources, Subash A K Rao. 

The networking major is using multiple means of communications like meetings, virtual meetings, emails, blogs, video messages and open house sessions to keep employees posted on the overall situation and help them post their ideas. “The employees’ ability to share ideas and suggestions across functional and hierarchical boundaries makes them a part of the company’s response and actions,” says Mr Rao. 

Infosys has set up a portal for employees to generate ideas ranging from simple energy saving and transportation to other possible steps for the software giant to reduce costs. The company claims it has already received more than a 1,000 ideas and is in the process of evaluating them. The portal is the first in a series of cost-cutting measures. 

The 30 skills every IT person should have



Source: InfoWorld
An IT manager's guide on how to be better at what you do, no matter how experienced you are. On MSN the other day, I noticed an article called "75 skills every man should master." It included some skills I have and some I don't. For example, I can tie a knot and hammer a nail, but frankly I can't recite a poem from memory, and bow ties still confuse me.

It was an interesting read and made me realize I could be more well-rounded than I am. To be honest, we all could be.

So in the spirit of personal growth, I developed a list of skills every IT person should have.


1. Be able to fix basic PC issues. These can be how to map a printer, back up files, or add a network card. You don't need to be an expert and understand how to overclock a CPU or hack the registry, but if you work in IT, people expect you to be able to do some things.

2. Work the help desk. Everyone, from the CIO to the senior architect, should be able to sit down at the help desk and answer the phones. Not only will you gain a new appreciation for the folks on the phones, but you will also teach them more about your process and avoid escalations in the future.

3. Do public speaking. At least once, you should present a topic to your peers. It can be as simple as a five-minute tutorial on how IM works, but being able to explain something and being comfortable enough to talk in front of a crowd is a skill you need to have. If you are nervous, partner with someone who is good at it, or do a roundtable. This way, if you get flustered, someone is there to cover for you.

4. Train someone. The best way to learn is to teach.

5. Listen more than you speak. I very rarely say something I didn't already know, but I often hear other people say things and think, "Darn, I wish I knew that last week."

6. Know basic networking. Whether you are a network engineer, a help desk technician, a business analyst, or a system administrator, you need to understand how networks work and simple troubleshooting. You should understand DNS and how to check it, as well as how to ping and trace-route machines.

7. Know basic system administration. Understand file permissions, access levels, and why machines talk to the domain controllers. You don't need to be an expert, but knowing the basics will avoid many headaches down the road.

8. Know how to take a network trace. Everyone in IT should be able to fire up wireshark, netmon, snoop, or some basic network capturing tool. You don't need to understand everything in it, but you should be able to capture it to send to a network engineer to examine.

9. Know the difference between latency and bandwidth. Latency is the amount of time to get a packet back and forth; bandwidth is the maximum amount of data a link can carry. They are related, but different. A link with high-bandwidth utilization can cause latency to go higher, but if the link isn't full, adding more bandwidth can't reduce latency.

10. Script. Everyone should be able to throw a script together to get quick results. That doesn't mean you're a programmer. Real programmers put in error messages, look for abnormal behavior, and document. You don't need to do that, but you should be able to put something together to remove lines, send e-mail, or copy files.

11. Back up. Before you do anything, for your own sake, back it up.

12. Test backups. If you haven't tested restoring it, it isn't really there. Trust me.

13. Document. None of the rest of us wants to have to figure out what you did. Write it down and put it in a location everyone can find. Even if it's obvious what you did or why you did it, write it down.

14. Read "The Cuckoo's Egg." I don't get a cut from Cliff Stoll (the author), but this is probably the best security book there is -- not because it is so technical, but because it isn't.

15. Work all night on a team project. No one likes to do this, but it's part of IT. Working through a hell project that requires an all-nighter to resolve stinks, but it builds very useful camaraderie by the time it is done.

16. Run cable. It looks easy, but it isn't. Plus, you will understand why installing a new server doesn't really take five minutes -- unless, of course, you just plug in both ends and let the cable fall all over the place. Don't do that -- do it right. Label all the cables (yes, both ends), and dress them nice and neat. This will save time when there's a problem because you'll be able to see what goes where.

17. You should know some energy rules of thumb. For example: A device consuming 3.5kW of electricity requires a ton of cooling to compensate for the heat. And I really do mean a ton, not merely "a lot." Note that 3.5kW is roughly what 15 to 20 fairly new 1U and 2U servers consume. One ton of cooling requires three 10-inch-round ducts to handle the air; 30 tons of air requires a duct measuring 80 by 20 inches. Thirty tons of air is a considerable amount.

18. Manage at least one project. This way, the next time the project manager asks you for a status, you'll understand why. Ideally, you will have already sent the status report because you knew it would be asked for.

19. Understand operating costs versus capital projects. Operating costs are the costs to run the business. Capital equipment is made of assets that can have their cost spread over a time period -- say, 36 months. Operating costs are sometimes better, sometimes worse. Know which one is better -- it can make a difference between a yes and no.

20. Learn the business processes. Being able to spot improvements in the way the business is run is a great technique for gaining points. You don't need to use fancy tools; just asking a few questions and using common sense will serve you well.

21. Don't be afraid to debate something you know is wrong. But also know when to stop arguing. It's a fine line between having a good idea and being a pain in the ass.

22. If you have to go to your boss with a problem, make sure you have at least one solution.

23. There is no such thing as a dumb question, so ask it ... once. Then write down the answer so that you don't have to ask it again. If you ask the same person the same question more than twice, you're an idiot (in their eyes).

24. Even if it takes you twice as long to figure something out on your own versus asking someone else, take the time to do it yourself. You'll remember it longer. If it takes more than twice as long, ask.

25. Learn how to speak without using acronyms.

26. IT managers: Listen to your people. They know more than you. If not, get rid of them and hire smarter people. If you think you are the smartest one, resign.

27. IT managers: If you know the answer, ask the right questions for someone else to get the solution; don't just give the answer. This is hard when you know what will bring the system back up quickly and everyone in the company is waiting for it, but it will pay off in the long run. After all, you won't always be available.

28. IT managers: The first time someone does something wrong, it's not a mistake -- it's a learning experience. The next time, though, give them hell. And remember: Every day is a chance for an employee to learn something else. Make sure they learn something valuable versus learning there's a better job out there.

29. IT managers: Always give people more work than you think they can handle. People will say you are unrealistic, but everyone needs something to complain about anyway, so make it easy. Plus, there's nothing worse than looking at the clock at 2 p.m. and thinking, "I've got nothing to do, but can't leave." This way, your employees won't have that dilemma.

30. IT managers: Square pegs go in square holes. If someone works well in a team but not so effectively on their own, keep them as part of a team.

Wednesday, December 17, 2008

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In meltdown, big IT and BPO deals cheer India


MUMBAI: Outsourcing fights back and lives to see another day. While everybody was rushing to write off the industry in the wake of Barack Obama's election and the global economic
slowdown, two major outsourcing deals in the hospitality and the pharma sectors have been
signed which should bring hope and cheer for the Indian IT and BPO sector.

Cognizant bags $100 mn US contract
Cognizant Technology Solutions, which competes with Indian offshore biggies such as TCS, Infosys and Wipro, continues to win new contracts from its existing customers, including
Astrazeneca and Merck, even as the industry prepares to cope with lower information technology spend in top markets of the US and Europe.

Genpact got Hyatt Corporation deal
The world's premier hotel company, Chicago-based Global Hyatt Corporation, has outsourced part of its financial and accounting transaction services to India's Genpact. The Hyatt agreement is a trend-setting move in the hospitality industry and follows in the footsteps of other
global banking and insurance giants who outsourced a large part of their processes to India's BPO sector to save costs.

Infosys bags AstraZeneca
In the other major deal, the $30-billion global pharma giant AstraZeneca has outsourced its
end-to-end maintenance services for a variety of corporate services (such as human relations,
finance) to Bangalore-based Infosys. While the values of the two deals have not been disclosed
yet, both envisage increasing the scope of the work over time.

HCL Tech completes Axon buy
HCL Technologies on Monday closed the acquisition of UK-based Axon Group for £441 million ($658 million), marking the largest tech buyout by an Indian firm. HCL Axon, the new entity formed after the buyout, is now chasing outsourcing deals worth $1.2 billion.

Layoff news in USA - Dec 16th: Update


Agilent Technologies will be laying off up to 150 employees at its Liberty Lake operations, beginning in late January, further reducing what was once a major employer in the area.

AMD layoffs loom largeMedia reports indicate that AMD is poised to layoff an additional 10 per cent of its current 15,000 employee workforce.

Thousands of layoffs by DHL and ABX Air hit.

Best Buy Co. announced that a worsening sales environment could force it to lay off employees and significantly slow its new store openings in the United States. Minneapolis-based Best Buy, the No. 1 electronic seller, said it had already informed nearly all of its 4,000 corporate employees on Monday that they are eligible for a voluntary separation package in order to reduce its corporate expenses.

582,000 Canadians could lose jobs if Big 3 fail
Canada could lose more than 580,000 jobs within five years if Detroit's Big Three automakers go out of business, most of them in Ontario, says a report obtained by the Toronto Star.
Detroit's newspapers plan to cut 9 percent of their work force and offer fewer days of home delivery at a time of slumping revenue industrywide, a union official said.
American Airlines also plans layoffs. Not certain how many and where.
Factor 5 Lays Off Nearly Half Of Staff
Gaia online layoffs 36 employees

Layoffs in India - Mid-tier software companies hand out pink slips



Source: The Times of India
CHENNAI: Never in the past has retrenching excess people or weeding away non-performers caught so much attention. Almost all mid-tier software services companies are tightening the screws on non-performers and are handing out pink slips.

Market is agog with names of almost every tier II software services company laying off people.
However, a cross section HR heads of companies TOI spoke to, flatly denied any move to
retrench people.

Instead they insisted that the process of appraisal just got over and the companies were only
"weeding away flab or removing non-performers from their rolls."

Adventity BPO's HR head, Rajesh Balaji said, "We have not sacked anybody. As an organisation, we work on a performance improvement plan which comes in cycles. I don't have the exact number of people who have been asked to leave, but I can tell you it is around 250 or less and that too this has happened over the past few months."

Adventity has offices in Chennai and Mumbai besides other locations. The company has 4,300
staffers across the globe. "In Chennai alone, the poor performers maybe a handful, less than five," he said.

In the case of Hexaware, according to company insiders, as many as 500 people have been shown the door across locations. K Balasundaram, senior VP-HR, Hexaware, denied any retrenchment. A company source, however, said that these were lay-offs of non-performers after appraisal. Incidentally, in a related development, Hexaware decided to down its shutters in Gurgaon. This would see 130 of its staffers out of job, even as they have been encouraged to move to other centres in Chennai, Mumbai or Pune.

Ramco Systems, a mid-tier company based out Chennai has seen off 142 persons. "Elimination due to poor performance is a natural process. All this while, we had allowed these people to stay
on, but since our Ramco Virtual Works platform - a technology platform, is maturing and since
productivity levels are increasing, we have cut flab. Our annual appraisal happens between
April and July and the bottom 7% of employees have been shown the door," a senior company
official said. Ramco now has 1,800 people on its rolls.

Quintegra, another Chennai-based software solutions company has sent out 20 persons. "We have asked 20 trainees to leave. They were all freshers who were not upto the mark. None of whom we have asked to leave are in the middle or senior management," Shankararaman Vaidyanathan, MD of Quintegra, said.

At a recent HR Summit in Chennai, Nasscom's president, Som Mittal told this correspondent that the Indian IT industry was maturing and improving productivity. As these levels increase,
there was bound to be an effect on employees at the bottom. "It is still a fraction, but the good news is that the industry is getting serious of cutting flab," he said.

According to industry insiders, the number of people each of these tier II company is
filtering is a small portion of their overall strength.
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You Won't Get Hired That Way: 5 Common Job Seeking Mistakes


Source: UC Daily News
From newly minted graduate to displaced executive, it's as if we have an inherent human pattern when job-seeking. Unfortunately our instinctive response is not our best response when it comes to finding employment. Like flying an airplane, job seeking turns out to be a counter-intuitive process. Take a look at the five patterns most people follow and why those choices are not their best.

Microsoft Issuing Emergency Patch For IE by Tomorrow


Without the fix, hackers have the potential to access a computer's memory space, causing IE to exit unexpectedly, in a state that can be exploited. Click here for complete story.
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Software firms face uncertain 18 months: NASSCOM


BANGALORE: India's export-focused software sector faces an uncertain four to six quarters as deepening global economic turmoil dents technology spending and slows deals, the sector's main lobby group said on Tuesday. Software firms have grown used to years of scorching expansion but the global financial crisis and recession in the United States, which contributes more than half of revenues, have dented confidence.

Tuesday, December 16, 2008

Layoff news in USA - Dec 15th: Update

 
CBS plans layoffs at CNet
CBS says it will lay off an undisclosed number of people in its interactive unit. The move follows the network’s acquisition of San Francisco’s CNet for $1.8 billion in May.

Sonus Networks cuts 50 jobs
Sonus Networks, which makes servers, switches, and software for Internet-based residential and business telephony that it will lay off 50 employees, or roughly 5 percent of its global workforce, as part of a cost-management plan. 

Fairchild Semiconductor cuts 1,100 jobs
According to AP and BusinessWeek: “Fairchild Semiconductor said Friday it plans to cut 1,100 jobs, or about 12 percent of its work force, and reduced its revenue guidance for its fiscal fourth quarter.”

Atmel to cut 11 percent jobs
According to WSJ: “Semiconductor maker Atmel Corp. reduced its fourth-quarter revenue estimate and announced cost cuts that include an 11% reduction of its North American work force amid slumping chip demand.”

Alcatel-Lucent to cut 1,000 management jobs
According to MarketWatch: “Alcatel-Lucent, the world’s largest maker of telecommunications equipment, on Friday said it plans to cut 1,000 management jobs as part of an effort to save one billion euros ($1.33 billion) a year in 2009 and 2010.”

Silicon Graphics to cut up to 20% of the workforce
According to InsideHPC:  “sources inside SGI has confirmed for insideHPC that layoffs are expected at the company today”. “Additional word from those in a position to know is that Bo sent out an email last night putting the size of the layoffs at between 10% and 20% of the workforce, and it looks like it might be Friday before we know which 20%. Details on the timing are still sketchy.”

BitTorrent cuts 18 jobs
Layoffs last month eliminated (it is believed) 18 positions -- about half the staff.

AIG Investments Lays Off 6% of work force or around 120 emp
CBS says it will lay off an undisclosed number of people in its interactive unit. The move follows the network’s acquisition of San Francisco’s CNet for $1.8 billion in May.

Some Layoffs in non-IT companies announced this week  which may affect techies also:

Procter & Gamble to cut 320 jobs
According to Forbes: “In line with plans to close a Clairol plant, Procter & Gamble severs 320 jobs.”

Northern Trust Corp. to cut 450 jobs
Northern Trust Corp. plans to cut 450 jobs after the first of the year in a cost-cutting move, according to CBS MarketWatch.

Toyota cuts India output by 30%
World's largest carmaker Toyota said it has cut production in India by 30 per cent this month, but is not holding back its planned investments of Rs 3,200 crore in the country. 

GM to close 20 factories, cuts production by 250,000 vehicles
General Motors Corp. said that it will temporarily close 20 factories across North America and make sweeping cuts to its vehicle production as it tries to adjust to dramatically weaker automobile demand.

Chevrolet ad agency to shed up to 100 jobs
Serving as an illustration of how the failure of the Detroit Three could impact other areas of the economy, Campbell-Ewald – Chevrolet’s ad agency – announced that it will be cutting up to 100 jobs. The job cuts are a direct result of General Motors’ reduced spending.

Electrolux cuts 3,000 jobs
Swedish appliance maker Electrolux AB said that it will lay off more than 3,000 staff globally because of a slump in the market. 

TechTarget cuts 76 jobs, closes two magazines
TechTarget, the Massachusetts based tech media publisher plans to cut costs by laying off 76 employees, or about 12 percent of its total workforce. The company also said it will shut down its two print publications, Storage Magazine and Information Security Magazine.

GT Solar layoffs 25 workers
GT Solar, a maker of equipment for manufacturing photovoltaic solar cells, said today that it will lay off 25 production workers at its Merrimack, NH, plant. The cuts, a reaction to requests from GT Solar’s customers for delayed shipment of solar furnaces, represent just over 8 percent of the company’s work force.

Advanced Energy to cut 7 percent or 114 jobs
According to Reuters: “Advanced Energy Industries Inc, a maker of power conversion and control systems, said it plans to reduce its global workforce by 7 percent to cut costs and expects a related charge of about $1.9 million in the fourth quarter.” 

DHL Express to eliminate up to 230 jobs
DHL Express will eliminate as many as 100 jobs in Strongsville and another 130 in Beachwood as part of its strategy to all but eliminate its domestic package delivery service.

SanDisk to Trim More Than 10% of Staff in Q4

SanDisk Corp. plans to cut more than 10% of its staff in the fourth quarter and reduce 2009 operating expenses below $800 million as the chip maker works to bring down costs amid the dire market for memory chips.

Playboy lays off 14% staff; eyes India for expansion


NEW YORK: Adult entertainment magazine publisher Playboy Enterprises, which has cut its workforce by 14 per cent to save costs,has identified India as a key target region to expand its geographic distribution.  
It said, the moves include "outsourced functions, shut down non-performing business, reduced marketing and editorial spending,". 

Charles Schwab cutting at least 100 jobs

 Brokerage firm and investment manager Charles Schwab Corp. said Monday it is cutting at least 100 jobs in an effort to improve operating efficiency. Schwab said it is cutting about 100 positions, and over the next two months will review further actions to improve efficiencies that could include further job cuts. The initial cuts will come as Schwab integrates and centralizes similar leadership roles across the firm, the company said in a statement.

Layoffs in USA: Even More Tech Layoffs To Come


Source: The Wall Street Journal
Many technology companies–from huge publicly traded ones to tiny startups–have already shed thousands of workers because of the economic slump. And the layoff wave won’t end anytime soon.

According to a new survey of corporate hiring managers and others who primarily recruit tech professionals, there will be fewer job opportunities and more layoffs in the tech sector over the next six months. The report from Dice.com, a tech employment Web site, found that 20% of those surveyed now say that layoffs are very likely in their organization, up from 9% in June. And 72% said the current economic environment has caused them to scale back their hiring plans in the next six months, up from 53% in June.

“There definitely is a shift,” says Tom Silver, Dice.com’s senior vice president and chief marketing officer. “There have been changes in overall sentiment and the number of tech jobs is declining as the number of people applying for jobs is going up.”

Silver says Dice.com has seen a particularly steep falloff in the number of tech jobs posted on the site since the financial crisis went full blown in late September. While the number of posted jobs on Dice.com was down about 5% for the first eight months of this year, the number of open jobs on the site is now down 25% from a year ago. Meanwhile, the number of job applications to positions listed on the site is up 15% from a year ago.

Job postings for tech jobs in Silicon Valley have fallen off the most, says Silver, with the number of posted jobs for the nation’s tech capital dropping 41% from a year ago. In contrast, the number of job postings for tech jobs in Washington D.C. has actually risen 6% so far this year, largely because the federal government is hiring, says Silver.

Monday, December 15, 2008

IT slowdown likely to continue till Q3 of ’09


MUMBAI: The tech slowdown will continue up to the third quarter of 2009, according to global research firm Forrester. IT consulting and systems integration services will hit the wall in 2009, while IT outsourcing growth will remain moderate in 2009 and 2010, getting a small respite from the economic slowdown, it said in its report released on Thursday.
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Worst Interview Mistakes Women Make


Soure: Forbes.com
The current economic climate, with fewer jobs and more applicants for each position, requires job seekers to have impeccable interviewing skills. Men and women make many of the same mistakes--arriving late or unprepared, refusing to answer a question, or lying about previous experience. Women, however, can make particular missteps--from talking too much to dressing inappropriately--that hurt their chances or cost them the job. Click here to know Eight Interview Mistakes Women Need to Avoid.
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No job cuts in AT&T India, firm to hire more


Bangalore: As a relief to the Indian employees, the 12, 000 job cuts of AT&T (NYSE:T), a communications holding company will have no impact on India, where the current number of employees are more than 1000 people. "The country is completely free from any impact of the job cuts. Infact, there will be more hiring within the region despite the company being in a flux," said Gopi Gopinath, Chairman, CEO, AT&T Global Network Services, India, while announcing the establishment of AT&T's first data center in India.
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Yahoo offers severance package with a soft landing


A pink slip for corporate America's newly laid off typically means a severance package and a "see ya." But when Yahoo issued its layoff notices to 10 percent of its workforce on Wednesday, it came with a twist, according to several sources.

Yahoo's 1,520 pink-slipped employees will remain on the payroll through February 13, retaining the ability to continue vesting any options that may come available through that separation date. Vacation accrual, however, will not apply, noted one source.

By the same token, those laid off employees will be "on call" to answer any questions that those who will be taking up the slack may have, to a certain extent anyway.

For those folks who have not landed a job by February 13--which in this recessionary climate may be many--nor bad-mouthed the company, will be entitled to an additional lump sum payment of two, three, or even four more months of severance, sources say.

And on top of that, an additional one month of severance will be awarded for every five years of service at Yahoo, sources note.

Thursday, December 11, 2008

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Credit Suisse plans to cut down outsourcing to Wipro


1,400 Wipro consultants may affected

MUMBAI: Top Swiss bank Credit Suisse, which announced global layoffs to the tune of 5,300 last week, is significantly reducing work to Wipro, according to sources.

With about 1,400 Wipro consultants currently working with Credit Suisse, the IT company may have to shift many of them to other projects or put them on the bench. More layoffs at Credit Suisse are expected, according to industry and market sources, in the next five days.

The bank ranks among Wipro’s top-10 customers, said an analyst with a foreign brokerage firm. Any reduction in work volume will, therefore, have a significant impact on its revenues. The company, however, refrained from commenting on how it plans to employ the consultants working with Credit Sussie. 

“We will be unable to comment on this as we do not comment on individual customers,” a Wipro executive said in an e-mail response. However, an analyst said Credit Suisse is unlikely to ask all the 1,400 consultants to leave in one shot. “It is very unlikely that all the consultants will be affected.” Wipro also faces the prospect of a decline in business from auto major General Motors, which has asked for a bailout package from the US government along with other auto giants. 

Apart from Wipro, Cognizant Technology Services (CTS) is also a Credit Sussie vendor. For CTS, analysts said, it is the second-largest financial services client after J P Morgan. A spokesperson for CTS refused to comment on how business from Credit Sussie would be impacted. “Unfortunately, we would not be able to comment on any specific customer,” the spokesperson said in a written response. 

CTS, for which financial services is a key customer area, is now focussing more on healthcare and life science clients to compensate for the upheaval in the financial services sector globally. The company recently won a $100-million contract from pharma company AstraZeneca, an existing client. 

Credit Suisse also has a captive facility in Pune that employs 1,500. When the layoffs were announced, the bank’s Asia-Pacific CEO, Kai Nargolwala, reportedly travelled to India. 

While the bad news is spreading to other sectors as well, financial services, which is the most aggressive technology spender and accounts for most Indian IT firms’ revenues, is trimming costs as well as manpower. Since the collapse of the US financial giants in mid-September, the BSE’s IT index has fallen from 3800 levels to around 2400, a 35% decline.

Source: The Economic Times

Yahoo! India lays off 50 staff


BANGALORE: Yahoo! India on Wednesday laid off some 50 people, about 3% of its workforce, as part of a global downsizing move. This is the second round of layoffs in the company this year. Sources close to the company said that a part of the layoffs was based on performance, and the rest on job redundancies on account of consolidation. An employee told that Yahoo!'s HotJobs division has almost wound up, with some employees being redeployed and others asked to go. 

The company is said to be making efforts to support impacted employees with severance packages and outbound placement services. A spokesperson of the company said the Indian operations was notified about the layoffs on Tuesday and the process was completed on Wednesday. 

Globally, Yahoo is laying off about 1,500 employees, about 10% of its workforce, according to a report by news agency Reuters. This follows the announcement in October that layoffs would occur by year's end, the agency said. Reuters said that the layoffs will hit hardest in the labour-intensive areas of human resources and finance. 

Yahoo!'s found the going tough against the likes of Google. In a move that is said to be unrelated to the layoffs, Yahoo! India's chief information officer Viswanathan Krishnamurthi has quit the company.

Source: The Times of India

Best time to hire for India Inc: Deloitte


KOLKATA: Even as companies worldwide resort to layoffs or freeze hirings as part of cost-saving measures to counter the economic slowdown, Deloitte Consulting believes the current turbulence actually presents India Inc with its best opportunity to enrol good people in their organisations.

"There's a lot of talent available in the market now and companies can indulge in cherry-picking. Most importantly, salary expectations are presently reasonable and jumping jobs will also not be on the top of a potential employee's mind for at least for a year or so," Deloitte Consulting India MD Roopen Roy told TOI. Deloitte itself is walking the talk in this respect. Between now and 2011, it intends to hire an additional 4,000 staff in India across all its businesses. Currently, the different Deloitte arms cumulatively employ about 9,000 employees in this country. 

Incidentally, attrition has already dropped significantly in the IT and BPO arenas since the financial crisis started spreading and companies began adopting a zero-tolerance approach. At the same time, the manufacturing segment has once again started catching the fancy of engineering graduates. 

Roy said that India, despite the expected drop in growth, is likely to come out of the slowdown quicker than the industrialised West and should thus utilise the present crisis to put its house in order. "Some people here are actually talking themselves into a recession and pulling down sentiment further," he added. The Deloitte MD said the present economic climate presented governments with an opportunity to become more efficient by pushing through administrative reforms "that would not have been possible if there was no economic crisis". "There is no magic strategy that will turn the present global financial crisis into an unalloyed positive. However, governments worldwide can find the seeds of long-term advantage in the decisions they make now," he added. 

Roy said the long-term effect of the meltdown could be positive with governments and policy-makers "rebuilding their way of operation and not focusing only on short-term gains". 

Source: The Times of India

Layoff news in USA - Dec 10th: Update

NPR:
National Public Radio NPR will let go 64 of its 889 employees, or 7 percent of its workforce on Wednesday

Hutchinson Technologies:
Hutchinson Technologies says it will reduce it's work force by up to 25% (in 575 employees) by the end of January. The firm also plans to cut the wages of remaining employees by 5%.

Yahoo:
Yahoo began laying off 1,500 workers on Wednesday as part of a plan, announced in October, to slash expenses by $400 million a year. The cost cutting, however, may have to go deeper in the coming year. There could be additional staff reductions next year.

Office Depot:
Office Depot to Cut 2,200 Jobs, Close 112 Stores

Franklin Electric:
Franklin Electric has announced plans to cut 200 jobs

Navistar:
Navistar announces 250 white collar job cuts

Downturn hitting semiconductor sector hard. Click here for complete story.
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US outsourcing clients seek rate cuts


BANGALORE: US companies like Best Buy, Visa and Conseco have started negotiating rate cuts with their Indian IT outsourcing partners. In what appears to be the first round of renegotiating their outsourcing contracts after a slower economic growth hit their businesses, US firms are seeking rate cuts anywhere in the range of 3-7 %, industry experts in the know of these renegotiations told ETon conditions of anonymity.

“New contracts are being doled out at lower rates, along with discounts offered for the existing projects,” an expert said. Also, new projects are being shelved for at least one year by these outsourcing customers as they look to reduce their operational costs. In some instances, customers are asking vendors to do more with same budget. “This is being done by redefining the scope of service-level agreements,” an industry expert said. Best Buy, Visa and Conseco did not respond to a query sent by ET last week. 

In an interview with ET last week, Infosys chief executive S Gopalakrishnan had admitted that customers were asking for discounts while offering more work. Customers across the verticals of banking, finance, retail and manufacturing are expected to review and replan their IT budgets over the next two months. In some cases, outsourcing customers are also seeking to reduce the number of vendors they work with, and let fewer vendors do more work at lower rates. 

Australian phone firm Telstra, for example, plans to retain only two of the four vendors it currently works with. It has invited Infosys, Satyam, IBM and EDS to bid for a restructured application development and maintenance contract, in order to bring down its IT costs. In such cases, while the retained vendors see increased volume of business, they have to take a cut in rates. “Telstra plans to work with fewer vendors, at lower rates,” said a senior official at a leading Indian tech firm. 

While TCS works with Best Buy and Visa, Infosys signed a five year outsourcing agreement with the insurance firm Conseco in April this year. “Conseco has shelved most of its new IT projects planned this year, Infosys’ prospects could be hit depending upon its exposure to such projects,” an expert said. Wipro is also believed to have an outsourcing engagement with Best Buy, but a company official declined to comment . When contacted on Monday, spokespersons at the top Indian firms could not offer specific comments. 

Large outsourcers seek to renegotiate contracts aiming significant cost savings . Last year, when BT Plc renegotiated its contract with Xansa, the company aimed to save around $123 million over next six years. However, BT’s restructured deal also witnessed more work for Xansa, estimated to be almost 80% of BT’s overall back-office projects. 

Source: The Economic Times

Wednesday, December 10, 2008

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Layoffs in USA: Another 15,000 job cuts on Tuesday


Sony, Wyndham, Novellus, Danaher, NFL, Principal Financial are the latest companies to add to the dismal employment picture, bringing the December tally to about 50,000 job cuts.

The job toll continued Tuesday, as Sony Corp. and five other companies announced cuts totaling nearly 15,000 positions.

Sony, Danaher Corp., Wyndham Worldwide, the National Football League and Principal Financial Group announced job cuts totaling about 14,400 positions.

In addition, Novellus Systems said it was cutting 10% of its global work force without specifying a number of employees, but the company had a headcount of 3,678 staffers on Dec. 12, 2007.

Sony (SNE), based in Tokyo, on Tuesday announced the most sweeping job-cutting plan of the three companies. Sony said it planned to "reduce headcount" in its electronics business by 8,000 jobs by March 30, 2010. The cuts will be implemented worldwide, the company said, from a total workforce of 160,000, according to a Sept. 30 headcount.

Sony, which produces a wide variety of consumer electronics, blamed "the acute downturn in the economic climate" for the job cuts. The company also said it was reducing its seasonal and temporary staff.

The Wyndham Hotel Group (WYN), based in Parsippany, N.J.., said late Monday it would "eliminate" about 4,000 positions through the first quarter of 2009. Wyndham's hotels include Ramada, Days Inn and Super 8 chains.

Danaher Corp (DHR, Fortune 500)., a manufacturer based in Washington, said late Monday that it was "eliminating" about 1,700 jobs and 13 facilities in the fourth quarter, to save about $100 million in 2009. The company blamed the "current economic backdrop." Danaher makes tools, sensors and medical equipment.

Novellus (NVLS), a provider of equipment for the semiconductor industry, said on Tuesday that it was cutting one-tenth of its work force "through a combination of attrition and layoffs." The company, based in San Jose, Calif., said the reductions would occur through Jan. 31, 2009.

The NFL said on Tuesday that it planned to reduce its staff by about 150 employees over the next 60 days. The company employs 1,100 workers in its league headquarters in New York City, NFL Films facilities in Mt. Laurel, N.J., and its Los Angeles facilities houses NFL Network and NFL.com.

"These are difficult and painful steps, but they are necessary in the current economic environment," said Commissioner Roger Goodell in a memo to his staff, which was provided to CNNMoney.com.

He said the NFL would "emerge strong, more efficient" as a result of cuts.

Principal Financial Group (PFG, Fortune 500) said it is eliminating about 550 positions. This includes 300 jobs at its Des Moines, Iowa, headquarters and 250 jobs in 45 other locations, the company, equating 3.5% of its total workforce.

"Since September, when market conditions worsened, we have been continuously reviewing expenses and expected revenues," said Mary O'Keefe, senior vice president of Principal Financial, in a prepared statement. "In order to bring expenses more in line with projected revenues, we have already cut many expenses. Unfortunately, this must include eliminating some jobs."

Job cuts have been mounting all year. According to the Labor Department, the U.S. economy hemorrhaged 533,000 jobs in November, the largest monthly loss in 34 years. Through November, the economy lost of total of 1.9 million jobs, the government said, raising the unemployment rate to 6.7%.

The December of our discontent
This does not include December's brutal onslaught of job eliminations, totaling around 50,000 so far.

Just in one day - Dec. 4 - 11 companies announced a total of about 25,000 job cuts. Nearly half of that tally comes from one company: Dallas-based telecom AT&T (T, Fortune 500). Also on that day, Credit Suisse Group (CS) announced 5,300 cuts and DuPont (DD, Fortune 500) reported 2,500.

Also in December, Washington Mutual said it was cutting 7,600 jobs, U.S. Steel said it was cutting 3,500 and State Street Corp. (STT, Fortune 500) announced plans to eliminate 1,800.

Dow Chemical (DOW, Fortune 500) said it was eliminating 5,000 positions and closing 20 plants. The battered automaker General Motors (GM, Fortune 500), which is awaiting a bailout decision from Congress and the White House, said it was cutting 2,000 jobs. Car rental company Avis Budget Group (CAR, Fortune 500) said it plans to eliminate 2,200 jobs.

The Belgian-based brewer Anheuser-Busch InBev said it would reduce 1,400 positions and 3M (MMM, Fortune 500) reported 1,800 job cuts.

Going forward, the Labor Department is scheduled to release its weekly report on initial jobless claims on Thursday. The government is expected to announce 525,000 total jobless claims for the week ended Dec. 6, according to a consensus of economists compiled by Briefing.com.

Source: CNNMoney.com

Layoff news in USA - Dec 9th: Update


Sony is to cut more than 16,000 permanent and part-time jobs from its worldwide electronics division and will raise prices for its products in the face of dwindling consumer spending.

Hutchinson Technology announces job cuts of 20-25 pct

ABX cutting 228 more jobs

DHL Express to lay off 74 in latest cutback

Navistar to cut about 250 salaried jobs

Level 3 is going to lay off around 450 employees, or about 8 percent of its total workforce

Mattson announces second set of layoffs since September
Mattson said it will “reduce approximately 20% percent of (its) global workforce through reductions-in-force and outsourcing.” The move is estimated to cost $3 to $4 million in severance charges.

GE: Some salaried employees being let go
Some salaried workers at GE will soon be receiving notices that they have been laid off.

The layoffs were confirmed Tuesday, but a company spokesperson says the employees who are being let go will have numerous resources available to aid their transition.

GE will provide laid off employees with out placement assistance, one year medical insurance coverage, as well as tuition reimbursement for courses completed within two years.

Tuesday, December 9, 2008

Yahoo layoffs(apprx 1,430 positions) to come on Wednesday


Yahoo CEO Jerry Yang noted in his post-quarterly earnings e-mail to employees in late October that employees affected by the 10 percent job cut would be "notified of layoffs in the next several weeks" -- that is, before Thanksgiving.

Apparently it took a little longer to wade through the approximately 1,430 positions.
A report in Dow Jones' AllThingsD site notes that the pink slips are expected Wednesday morning and will be across the board.

And while Yang, in the most recent earnings report call, noted that further layoffs could occur in 2009, AllThingsD, citing an anonymous source, said that an additional 500 positions may be cut through attrition and a hiring freeze.
Yahoo's move to cut 10 percent of its workforce puts it in the ranks of a number of other companies that are paring down their staffs, as a means to offset a hit to revenues as the economy tanks.

10 Habits that Bosses Love

Every boss wants employees who do their jobs well. But even among highly competent employees, there are distinctions. Here are 10 tips for making sure you're on the boss's A-list: 

1. Communicate, communicate, communicate. Especially at the beginning of your relationship -- that is, when either you or the boss is new to the job -- err on the side of giving your boss too much information and asking too many questions. "There's no such thing as a dumb question," says Marianne Adoradio, a Silicon Valley recruiter and career counselor. "Look at it as information gathering."Don't keep up the constant stream of communication unless your boss likes it, though. It's best to ask directly whether you're giving the boss enough information or too much.

2. Acknowledge what the boss says. Bosses appreciate "responsive listening," says John Farner, principal of Russell Employee Management Consulting. When your boss asks you to do something or suggests ways for you to improve your work, let her know you heard.

3. Collaborate. When your boss has a new idea, respond to it in a constructive way instead of throwing up roadblocks. "Be willing to brainstorm ways to get something done," says Michael Beasley, principal of Career-Crossings and a leadership and career development coach.

4. Build relationships. You'll make your boss look good if you establish a good rapport with your department's customers, whether they're inside the company or outside. Bring back what you learn -- about ways to offer better customer service, for example -- to your boss. This is also helpful for your own career development. "Everybody wins in the long run," Adoradio says.

5. Understand how you fit in. Is your boss detail-oriented, or someone who keeps his head in the clouds? "The boss's personality is just incredibly important," says Norm Meshriy, a career counselor and principal of Career Insights.Equally important is understanding what your boss wants in an employee. It may be, for example, that a boss who is detail-oriented will expect his employees to be as well. But a boss who has no time for details may actually appreciate an employee who does.

6. Learn the boss's pet peeves. If your manager has said repeatedly that she hates being interrupted first thing in the morning, don't run to her office to give her a project update when you first get in.

7. Anticipate the boss's needs. Once you have worked with your boss for a while, you should be able to guess what information he will want before approving your purchase order, for example.If you provide it ahead of time, "that's a gold star," Farner adds.

8. Think one level up. You still need to do your own job, of course. But when managers consider who deserves a promotion, they look for people who understand the issues that their bosses face.

9. Open yourself to new ways of doing things. When your boss comes to you with a new idea, don't simply dismiss it. If you don't think it will work, offer to discuss it further in "a mature, responsible, adult-like way," Beasley says.<

10. Be engaged in your work. Arguing with your boss over every request is not a good strategy, but neither is simply shrugging your shoulders and agreeing with everything your boss says. "The manager would like to see an engaged individual," Beasley says. That means both showing enthusiasm for your work and speaking up when you see room for improvement.