Indian employees maintained high level of confidence in the future of their companies in the third quarter of this year compared with their global peers, a study says.
As per the study by global human resource solutions provider Kenexa, except India, China and Brazil, employees from nine other countries reported a decline in employee confidence in the third quarter compared with the previous quarter.
“Globally there was about one point decline in the third quarter 2009 (in the employee confidence index), compared to five point improvement in the second quarter. China and India sustained and built very slightly on the improvements seen in the second quarter of 2009, while Japan reversed a second quarter downward trend,” Kenexa Research Institute research consultant Anne Herman said.
Employee confidence, a quarterly measure of the degree of confidence employees have in their employers’ marketplace competitiveness and their own careers, dropped to 97.9 at the end of September from 98.9 in June this year.
The country-wise employee confidence index score for India was 100.2 in September quarter, rising marginally from 99.6 in June this year, the report showed. “Only three countries, China, India and Brazil, are at or above the employee confidence levels first measured in Q2 of 2008,” the report stated.
In September, Brazil (105.3), China (102.8) and India had highest levels of employee confidence, while Germany (96.7), Japan (95.6) and Spain (93.3) had lowest. The largest declines in 2009 Q3 employee confidence levels compared with the second quarter were registered in France followed by Spain and Germany.
Interestingly, the US employee confidence index score dropped 1.2 per cent since June this year to 97.7. “While Q2 of 2009 showed a global economy rebounding strongly, the third quarter employee confidence scores indicate that recovery is not going to be a straight line of positively improving results,” the survey said.
Monday, October 19, 2009
IT market, new openings
Mid-tier IT cos look to hire up to 30k
The hire-no-more hysteria seems to be heading for a soft burial, with mid-tier and niche technology companies returning to the employment orbit as they plan to take in 25,000 to 30,000 experienced hands in the next three to nine months.
The renewed demand has been spurred by a spurt in outsourcing, better order positions and companies expanding their India operations and moving up the value chain. Those on the lookout for trained hands are companies like GlobalLogic India, Aricent, MindTree, CPA Global, Sapient, Symphony Services, Citrix, Adobe, Persistent Solutions, nVidia, Amazon , Agilent and Vertex.
Following is the companies list
CPA Global
To hire: 1,400
Vertex
To hire:1,000
UHG
To hire:1,000
Sapient
To hire: 800
Aricent
To hire: 700
MindTree
To hire: 600
GlobalLogic
To hire: 400
Symphony
To hire: 300
The renewed demand has been spurred by a spurt in outsourcing, better order positions and companies expanding their India operations and moving up the value chain. Those on the lookout for trained hands are companies like GlobalLogic India, Aricent, MindTree, CPA Global, Sapient, Symphony Services, Citrix, Adobe, Persistent Solutions, nVidia, Amazon , Agilent and Vertex.
Following is the companies list
CPA Global
To hire: 1,400
Vertex
To hire:1,000
UHG
To hire:1,000
Sapient
To hire: 800
Aricent
To hire: 700
MindTree
To hire: 600
GlobalLogic
To hire: 400
Symphony
To hire: 300
New Deals, TCS
TCS wins $63 mn deal from MP govt
Tata Consultancy Services, India's top software firm, has been selected as the lowest bidder for a Rs 2.93 billion ($63 million) project in the state of Madhya Pradesh, an official with the state power utility said.
"For the IT implementation work, Tata Consultancy Services has been selected as the L-1 (lowest bidder)," S A Ansari, Chief Engineer (IT) of the MP.
Madhya Kshetra Vidyut Vitran Company Ltd, told Reuters over telephone from the city of Bhopal.
The project will be formally awarded after approval from the board of directors of the state's distribution utilities, and will be completed in 18 months, he said.
A spokesman for TCS confirmed the company had bid for a project in the state, but declined to give further details.
The project is part of a central government-funded power reforms programme to use information technology to cap electricity distribution losses in the country.
"For the IT implementation work, Tata Consultancy Services has been selected as the L-1 (lowest bidder)," S A Ansari, Chief Engineer (IT) of the MP.
Madhya Kshetra Vidyut Vitran Company Ltd, told Reuters over telephone from the city of Bhopal.
The project will be formally awarded after approval from the board of directors of the state's distribution utilities, and will be completed in 18 months, he said.
A spokesman for TCS confirmed the company had bid for a project in the state, but declined to give further details.
The project is part of a central government-funded power reforms programme to use information technology to cap electricity distribution losses in the country.
HCL, IT market, New Deals
HCL Info bags $114 mn Rajasthan govt deal
IT hardware firm HCL Infosystems has been awarded a Rs 529 crore ($114 million) IT project for Rajasthan's power distribution utilities, a top official of the utilities said.
"We have awarded the order to HCL Infosystems," R G Gupta, chairman of Jaipur, Jodhpur and Ajmer Vidyut Vitaran Nigam Ltd, said from Jaipur.
The project involves applying technology to identify power losses across all cities and villages of Rajasthan and has to be completed in 18 months, he said.
A company spokesman declined to comment but said HCL Infosystems had bid for several R-APDRP (Re-structured Accelerated Power Development and Reform Programme) IT projects including the one in Rajasthan.
"We have awarded the order to HCL Infosystems," R G Gupta, chairman of Jaipur, Jodhpur and Ajmer Vidyut Vitaran Nigam Ltd, said from Jaipur.
The project involves applying technology to identify power losses across all cities and villages of Rajasthan and has to be completed in 18 months, he said.
A company spokesman declined to comment but said HCL Infosystems had bid for several R-APDRP (Re-structured Accelerated Power Development and Reform Programme) IT projects including the one in Rajasthan.
IT market, new openings
Google to resume hiring, acquisitions
Google Inc, the world’s most popular Internet search engine, plans to resume hiring and acquisitions after the recovering economy helped third-quarter sales beat analysts’ estimates.
Excluding revenue passed on to partner sites, sales jumped 8.4 percent to $4.38 billion from a year earlier, the company said. That compared with an average estimate of $4.25 billion in a Bloomberg survey of analysts.
Large customers stepped up spending on Google ads last quarter, a rebound from the first half of the year, Chief Financial Officer Patrick Pichette said. With the economy improving, the company can go back to investing, he said. Google had trimmed jobs and shut down underperforming businesses this year to rein in spending.
“We weathered what is an incredible recession,” Pichette said in an interview. “If you have all this behind you, the only outcome you should have as management is: ‘OK, let’s build now.’”
Net income rose 27 percent to $1.64 billion, or $5.13 a share, from $1.29 billion, or $4.06, a year earlier, the Mountain View, California-based company said. Leaving out some costs such as stock-based compensation, profit was $5.89 a share. Analysts had estimated $5.43.
Accelerating growth?
“These are very strong results -- above even the highest expectations out there,” said Andy Miedler, an analyst with Edward Jones in St Louis. He rates the stock a buy and doesn’t own it. “As the economy continues to improve, we expect accelerating growth.”
Google’s plan to boost spending may have tempered investors’ enthusiasm, said Ben Schachter, an analyst at San Francisco-based Broadpoint AmTech Inc.
“The stock would be further up if not for the bit about them investing heavily,” he said.
“We’re going to invest,” Chief Executive Officer Eric Schmidt said on a conference call with analysts. “That, I think, ultimately is good for the long term of Google.”
The company’s acquisitions will be mostly smaller companies that might help with search technology or advertising, Schmidt said. While Google is open to big purchases, those deals will be rare, he said.
Fifty companies
“They are probably the most acquisitive company in technology right now,” Gene Munster, an analyst at
Piper Jaffray & Co in Minneapolis, said in an interview with Bloomberg Television. “There are probably 50 companies out there they could acquire that will make their ads more relevant.”
Google’s paid clicks -- the number of times its ads were clicked on by consumers -- climbed about 14 percent last quarter. The average amount that Google charges for each click declined from a year earlier, falling 6 percent, a sign that advertisers are paying lower rates. Those rates may recover again as the recession eases, said Martin Pyykkonen, an analyst with Janco Partners Inc in Greenwood Village, Colorado.
Google took a harder line on expenses earlier this year, eliminating waste and shutting down some of its free employee cafes. It also closed businesses, such as a radio-programming division. In March, the company cut about 200 sales and marketingpositions, or 1 percent of its workforce.
Capital expenditures fell to $186.3 million last quarter from $451.5 million a year earlier. Google has maintained its dominance in the Internet search market this year, warding off an attack from Microsoft Corp’s Bing, which debuted in June.
Google had 64.9 percent of the US market last month, compared with 65 percent in May, according to ComScore Inc in Reston, Virginia. Microsoft’s share grew to 9.4 percent from 8 percent over that period -- mostly at the expense of Yahoo Inc, which fell to 18.8 percent from 20.1 percent.
Excluding revenue passed on to partner sites, sales jumped 8.4 percent to $4.38 billion from a year earlier, the company said. That compared with an average estimate of $4.25 billion in a Bloomberg survey of analysts.
Large customers stepped up spending on Google ads last quarter, a rebound from the first half of the year, Chief Financial Officer Patrick Pichette said. With the economy improving, the company can go back to investing, he said. Google had trimmed jobs and shut down underperforming businesses this year to rein in spending.
“We weathered what is an incredible recession,” Pichette said in an interview. “If you have all this behind you, the only outcome you should have as management is: ‘OK, let’s build now.’”
Net income rose 27 percent to $1.64 billion, or $5.13 a share, from $1.29 billion, or $4.06, a year earlier, the Mountain View, California-based company said. Leaving out some costs such as stock-based compensation, profit was $5.89 a share. Analysts had estimated $5.43.
Accelerating growth?
“These are very strong results -- above even the highest expectations out there,” said Andy Miedler, an analyst with Edward Jones in St Louis. He rates the stock a buy and doesn’t own it. “As the economy continues to improve, we expect accelerating growth.”
Google’s plan to boost spending may have tempered investors’ enthusiasm, said Ben Schachter, an analyst at San Francisco-based Broadpoint AmTech Inc.
“The stock would be further up if not for the bit about them investing heavily,” he said.
“We’re going to invest,” Chief Executive Officer Eric Schmidt said on a conference call with analysts. “That, I think, ultimately is good for the long term of Google.”
The company’s acquisitions will be mostly smaller companies that might help with search technology or advertising, Schmidt said. While Google is open to big purchases, those deals will be rare, he said.
Fifty companies
“They are probably the most acquisitive company in technology right now,” Gene Munster, an analyst at
Piper Jaffray & Co in Minneapolis, said in an interview with Bloomberg Television. “There are probably 50 companies out there they could acquire that will make their ads more relevant.”
Google’s paid clicks -- the number of times its ads were clicked on by consumers -- climbed about 14 percent last quarter. The average amount that Google charges for each click declined from a year earlier, falling 6 percent, a sign that advertisers are paying lower rates. Those rates may recover again as the recession eases, said Martin Pyykkonen, an analyst with Janco Partners Inc in Greenwood Village, Colorado.
Google took a harder line on expenses earlier this year, eliminating waste and shutting down some of its free employee cafes. It also closed businesses, such as a radio-programming division. In March, the company cut about 200 sales and marketingpositions, or 1 percent of its workforce.
Capital expenditures fell to $186.3 million last quarter from $451.5 million a year earlier. Google has maintained its dominance in the Internet search market this year, warding off an attack from Microsoft Corp’s Bing, which debuted in June.
Google had 64.9 percent of the US market last month, compared with 65 percent in May, according to ComScore Inc in Reston, Virginia. Microsoft’s share grew to 9.4 percent from 8 percent over that period -- mostly at the expense of Yahoo Inc, which fell to 18.8 percent from 20.1 percent.
TCS
TCS posts Rs.13.5 Billion second quarter net profit
Software major Tata Consultancy Services has posted a net profit of Rs.13.5 billion ($300 million) for the quarter ended Sep 30, as compared to Rs.11.7 billion ($260 million) in the corresponding period last fiscal, it said Friday.
The company's total income increased to Rs.57.2 billion ($1.27 billion) for the quarter under review from Rs.55.2 billion ($1.23 billion) in the second quarter last fiscal, TCS said in a regulatory statement.
The group's consolidated net profit rose to Rs.16.4 billion ($364 million) during the quarter, from Rs.12.7 billion ($282 million) in the like period last year.
Similarly, total consolidated income increased from Rs.67.8 billion ($1.5 billion) for the quarter ended Sep 30 last year to Rs.74.3 billion ($1.65 billion) in the second quarter this year.
The company's total income increased to Rs.57.2 billion ($1.27 billion) for the quarter under review from Rs.55.2 billion ($1.23 billion) in the second quarter last fiscal, TCS said in a regulatory statement.
The group's consolidated net profit rose to Rs.16.4 billion ($364 million) during the quarter, from Rs.12.7 billion ($282 million) in the like period last year.
Similarly, total consolidated income increased from Rs.67.8 billion ($1.5 billion) for the quarter ended Sep 30 last year to Rs.74.3 billion ($1.65 billion) in the second quarter this year.
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