Mahindra Satyam on Tuesday said that it won an IT outsourcing contract from Swedish defence and aerospace firm, Saab, to develop its operations for the global defence and security market in India in a deal valued at around $300 million.
The contract, which spread over a period of five years encompasses engineering services and technology maintenance, will enable both the companies jointly address the Battlefield Management System (BMS) for the Indian Army, according to a release.
Mahindra Satyam said that it has already initiated the setting up of a centre of excellence for network centric warfare (CoE – NCW) which will offer comprehensive skills and a repository of tools, systems, middleware, integration platforms and system showcases in the field of NCW.
The company through the CoE hopes to tap the high potential market for nationwide security, for which the Indian government has large investment plans. “This relationship will jumpstart our foray in mission critical areas of defense. Our commitment in the domestic market will be reaffirmed by this collaboration and also set the stage to enter uncharted territories in the global arena,” said C P Gurnani, CEO, Mahindra Satyam.
The centre, which will be accessible to both the partners, is for mission critical applications and Command, Control, Communications, Computers, and Intelligence solutions for global opportunities. The capabilities of the centre will also span areas of homeland security to provide end to end security solutions.
“We view this relationship with Mahindra Satyam as a strategic meeting of two highly skilled teams believing in technical and engineering excellence,” said Åke Svensson, President and CEO for Saab.
Mahindra Satyam, which counts Citigroup, GE, GlaxoSmithKline, Cisco Systems Inc and Nissan among its top five clients, has over 430 clients now. Over the last four months, the company, erstwhile Satyam Computers gained over 32 new customers including some large clients.
Satyam was acquired by Pune based IT services firm Tech Mahindra in April, after the firm’s defamed founder B Ramalinga Raju confessed to perpetrating India’s biggest corporate fraud. Customer confidence took a knock after Raju’s confession.
The company is attempting to regain contracts and enter into new strategic alliances to turn-around, even as its accounts are in the process of being re-stated.
Wednesday, November 4, 2009
Layoffs in USA, Recession
Johnson & Johnson to cut 7,000 to 8,000 jobs
Johnson & Johnson will eliminate about 6 per cent to 7 per cent of its global workforce, or some 7,000 to 8,000 positions, as the diversified healthcare company restructures and seeks cost savings, the company said on Tuesday.
The company said it expects to generate annual pre-tax cost savings of $1.4 billion to $1.7 billion in 2011.
"We are announcing a series of actions and plans designed to ensure that our company remains well-positioned and appropriately structured for sustainable, long-term growth in the health care industry," J&J Chief Executive Officer William Weldon said in a statement.
J&J, which employs about 117,000 people, said it expects to record a pre-tax charge of about $1.1 billion to $1.3 billion in the fourth quarter associated with the restructuring. It backed its 2009 forecast of $4.54 to $4.59 per share, excluding special items.
Cost savings will be achieved mainly by reducing layers of management, increasing individual spans of control, and simplifying business structures and processes, the company said in a statement.
The company said it expects to generate annual pre-tax cost savings of $1.4 billion to $1.7 billion in 2011.
"We are announcing a series of actions and plans designed to ensure that our company remains well-positioned and appropriately structured for sustainable, long-term growth in the health care industry," J&J Chief Executive Officer William Weldon said in a statement.
J&J, which employs about 117,000 people, said it expects to record a pre-tax charge of about $1.1 billion to $1.3 billion in the fourth quarter associated with the restructuring. It backed its 2009 forecast of $4.54 to $4.59 per share, excluding special items.
Cost savings will be achieved mainly by reducing layers of management, increasing individual spans of control, and simplifying business structures and processes, the company said in a statement.
Layoffs in USA, Recession
Nokia Siemens to cut thousands of jobs: Company
Finnish-German telecom equipment maker Nokia Siemens said on Tuesday that it could reduce its 64,000-strong workforce by seven to nine percent, or by 4,500 to 5,800 jobs, in a cost-cutting drive.
The cost-cutting is to "improve financial performance and return to growth" by reducing 500 million euros (732 million dollars) in annualised operating expenses and production overheads by 2011, the company said.
"As part of this effort, the company will also conduct a global personnel review which may lead to headcount reductions in the range of about 7-9 percent of its current approximately 64,000 employees," it added.
Nokia, the world's biggest mobile phone maker, last month reported its first quarterly loss in a decade partly due to a 908-million-euro impairment charge for goodwill in the Nokia Siemens joint venture.
The cost-cutting is to "improve financial performance and return to growth" by reducing 500 million euros (732 million dollars) in annualised operating expenses and production overheads by 2011, the company said.
"As part of this effort, the company will also conduct a global personnel review which may lead to headcount reductions in the range of about 7-9 percent of its current approximately 64,000 employees," it added.
Nokia, the world's biggest mobile phone maker, last month reported its first quarterly loss in a decade partly due to a 908-million-euro impairment charge for goodwill in the Nokia Siemens joint venture.
NRIs
HSBC bank says it will cut 1,700 jobs in Britain
HSBC is to cut more than 1,700 jobs across Britain, a spokesman for the global banking group said on Tuesday.
HSBC will axe "just over 1,700" jobs, a spokesman told media, confirming media reports. An official statement from HSBC explaining the cuts was due later Tuesday.
The announcement came as the British government unveiled a major shake-up of the country's banking sector and one day after state-controlled Royal Bank of Scotland (RBS) said it would eliminate about 3,700 jobs across its British retail operations.
The government on Tuesday said it would force RBS and another state-controlled bank, Lloyds Banking Group, to sell assets to promote competition but would support them with 30 billion pounds (33 billion euros, 49 billion dollars).
Britain's government expects new banks to be born as a result of the break-ups, which are the result of pressure from EU competition authorities.
The parts being separated from the parent groups add up to about 10 percent of Britain's troubled retail banking market.
In return for more state aid, RBS and Lloyds will have to cut bonuses paid to top staff and increase lending to recession-struck businesses and individuals.
Lloyds meanwhile announced that it would launch a record 13.5-billion-pound rights issue, the biggest-ever sale in Britain of new shares to existing shareholders.
Tuesday's announcements come one week after the European Commission approved the state aid in plans to break up and sell Britain's nationalised bank Northern Rock.
HSBC will axe "just over 1,700" jobs, a spokesman told media, confirming media reports. An official statement from HSBC explaining the cuts was due later Tuesday.
The announcement came as the British government unveiled a major shake-up of the country's banking sector and one day after state-controlled Royal Bank of Scotland (RBS) said it would eliminate about 3,700 jobs across its British retail operations.
The government on Tuesday said it would force RBS and another state-controlled bank, Lloyds Banking Group, to sell assets to promote competition but would support them with 30 billion pounds (33 billion euros, 49 billion dollars).
Britain's government expects new banks to be born as a result of the break-ups, which are the result of pressure from EU competition authorities.
The parts being separated from the parent groups add up to about 10 percent of Britain's troubled retail banking market.
In return for more state aid, RBS and Lloyds will have to cut bonuses paid to top staff and increase lending to recession-struck businesses and individuals.
Lloyds meanwhile announced that it would launch a record 13.5-billion-pound rights issue, the biggest-ever sale in Britain of new shares to existing shareholders.
Tuesday's announcements come one week after the European Commission approved the state aid in plans to break up and sell Britain's nationalised bank Northern Rock.
new openings
Apple hires 2,300 full-time employees in a year
Technology major Apple has raised its full-time employee count by 2,300 to 34,300 for the year ended September 2009, at a time when many companies worldwide slashed their workforce in the wake of the financial crisis.
For the September 2009 financial year, the company had nearly 34,300 full-time equivalent employees and 2,500 temporary equivalent workers and contractors, according to its annual report.
The firm had about 32,000 full-time people and 3,100 temporary employees and contractors, for the year ended September 2008.
The total head count at Apple -- including full-time and temporary people and contractors -- shot up to 36,800 for the fiscal year ended September 26, 2009. In the comparable period, the same stood at 35,100.
Interestingly, the year ended September was also the time when companies worldwide slashed thousands of jobs as part of their efforts to bring down costs. The entities which resorted to layoffs include Dell, Microsoft, General Motors and Caterpillar.
Moreover, the unemployment rate in the US touched a 26-year-high of 9.8 per cent in September.
Despite the adverse economic situation, Apple's net sales surged over 12 per cent to $36.5 billion for the year ended September 2009, mainly boosted by increased sales of iPhone and Mac computers. During the same period, profits rose to $5.7 billion.
For the September 2009 financial year, the company had nearly 34,300 full-time equivalent employees and 2,500 temporary equivalent workers and contractors, according to its annual report.
The firm had about 32,000 full-time people and 3,100 temporary employees and contractors, for the year ended September 2008.
The total head count at Apple -- including full-time and temporary people and contractors -- shot up to 36,800 for the fiscal year ended September 26, 2009. In the comparable period, the same stood at 35,100.
Interestingly, the year ended September was also the time when companies worldwide slashed thousands of jobs as part of their efforts to bring down costs. The entities which resorted to layoffs include Dell, Microsoft, General Motors and Caterpillar.
Moreover, the unemployment rate in the US touched a 26-year-high of 9.8 per cent in September.
Despite the adverse economic situation, Apple's net sales surged over 12 per cent to $36.5 billion for the year ended September 2009, mainly boosted by increased sales of iPhone and Mac computers. During the same period, profits rose to $5.7 billion.
IT market, new openings
Capgemini to expand India headcount
Outsourcing firm Capgemini is all set to increase its India headcount with the opening of a new business information centre in Bangalore, according to a report in a business daily.
The Bangalore centre will take the company's India headcount beyond 21,000, an increase from its employee strength of 20,000 in home country France.
According to the company, the new centre in Bangalore would start with a workforce of 1,000, which would scale up to 3,000 in about 18 months.
Paul Nannetti, general manager of Capgemini's global business information service line, said, "Bangalore provides plenty of application and technical skills in information management." He added, "The company can scale-up there much more quickly than in onshore locations."
India is among the most attractive outsourcing destination for global MNCs including IBM, Accenture and Microsoft, giving tough competition to domestic players TCS, Wipro and Infosys. The country offers large pool of skilled and low-cost talent for business information management services that help companies improve their collection, use and analysis of data.
The Bangalore centre will take the company's India headcount beyond 21,000, an increase from its employee strength of 20,000 in home country France.
According to the company, the new centre in Bangalore would start with a workforce of 1,000, which would scale up to 3,000 in about 18 months.
Paul Nannetti, general manager of Capgemini's global business information service line, said, "Bangalore provides plenty of application and technical skills in information management." He added, "The company can scale-up there much more quickly than in onshore locations."
India is among the most attractive outsourcing destination for global MNCs including IBM, Accenture and Microsoft, giving tough competition to domestic players TCS, Wipro and Infosys. The country offers large pool of skilled and low-cost talent for business information management services that help companies improve their collection, use and analysis of data.
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