IBM is offering its recently laid-off employees jobs in “growth markets” like India and Russia through a new programme and will help with moving costs as well as provide visa assistance, media reports said.
Through the ‘project match’ programme, IBM is offering its outgoing workers in the US and Canada a chance to take an IBM job in India, Nigeria and Russia, CNN quoted an IBM internal document. The company would help exemployees “locate potential job opportunities in growth markets where (their) skills are in demand ...
“Should (the employees) accept a position in one of these countries, IBM offers financial assistance to offset moving costs, provides immigration support, such as visa assistance, and other support to help ease the transition of an international move,” the document read.
Agencies
Showing posts with label financial assistance. Show all posts
Showing posts with label financial assistance. Show all posts
Saturday, February 7, 2009
Tuesday, January 13, 2009
Will the Rs 2000 crore government package bailout out Satyam?
Speculation is rife that the government is considering a package of up to Rs 2,000 crore to bailout the crisis-ridden Satyam Computer but no confirmation could be obtained.
Shortly after the Prime Minister Manmohan Singh's review meeting on Satyam on Tuesday, there was media speculation that government would be considering a financial assistance ranging between Rs 500 crore and Rs 2,000 crore but the PMO office declined to comment on it.
"We have nothing to say on this," a top PMO official said when asked about if the government was considering giving financial aid to Satyam which is confronting a cash crisis.
Meanwhile, official sources indicated that the government appointed Satyam board has written a letter to the finance ministry raising concerns about the liquidity crunch in the troubled company.
Talking to reporters after the first meeting of the new board in Hyderabad, HDFC chairman Deepak Parekh, who is member of the board, had said "working capital issues require immediate attention and we will work with the team to tide over this situation.
Satyam has 53,000 employees and needs over Rs 500 crore a month to meet the staff cost.
Commerce Minister Kamal Nath, who attended PM's review meeting, had said yesterday that the government was open to consider a financial package for Satyam.
Agencies
Shortly after the Prime Minister Manmohan Singh's review meeting on Satyam on Tuesday, there was media speculation that government would be considering a financial assistance ranging between Rs 500 crore and Rs 2,000 crore but the PMO office declined to comment on it.
"We have nothing to say on this," a top PMO official said when asked about if the government was considering giving financial aid to Satyam which is confronting a cash crisis.
Meanwhile, official sources indicated that the government appointed Satyam board has written a letter to the finance ministry raising concerns about the liquidity crunch in the troubled company.
Talking to reporters after the first meeting of the new board in Hyderabad, HDFC chairman Deepak Parekh, who is member of the board, had said "working capital issues require immediate attention and we will work with the team to tide over this situation.
Satyam has 53,000 employees and needs over Rs 500 crore a month to meet the staff cost.
Commerce Minister Kamal Nath, who attended PM's review meeting, had said yesterday that the government was open to consider a financial package for Satyam.
Agencies
Sunday, December 7, 2008
Is the worldwide bailouts 10 times bigger than Indian economy?
In their efforts to tackle the global economic crisis, the rescue packages announced by the governments across the world has crossed 10 trillion-dollar mark (about Rs 50,00,000 crore) -- an amount equivalent to nearly 10 times the total size of Indian economy.
The amount is believed to grow even bigger with the turmoil still being in expansion mode.
A lion's share of about three-fourth of the worldwide bailout package of about 10.1 trillion dollar has come from the world's biggest economy, the US, whose total national debt has also incidentally crossed the 10 trillion-dollar mark.
The size of the entire Indian economy, where the impact of global crisis has been relatively less disastrous, pales at about one trillion dollar.
These bailouts, which have been prevalent in both developed and developing worlds due to the financial turmoil that turned severe after the fall of Lehman Brothers, have come in various forms of financial stimulus by the governments across the world -- be it putting in fresh money into a crisis-ridden institution, bringing them under the government's fold or other fiscal measures.
America set the ball rolling for such packages, with the world's largest economy announcing 700 billion-dollar plan primarily to shore up the fortunes of the country's battered financial institutions. Taking into account other rescue acts by the US, its total bailout plan runs into more than seven trillion dollars.
Various European nations together have come up with about 1.3 trillion dollar in financial assistance apart from the European Commission urging the constituent countries to pledge nearly 254 billion dollar.
Further, Germany has thrown lifelines to the tune of 60 billion dollar to save the country's leading financial firms -- Dexia Bank and Hypo Real Estate -- both of which were battered by the worsening economic turmoil.
While Hypo Real Estate received 50 billion dollar, Dexia Bank got a lifeline worth about 10 billion dollar.
Among the developing nations, China has announced a massive 586 billion-dollar plan to boost its economy and the funds would be mainly utilised for infrastructure projects.
Other major bailouts in recent times include 572 billion dollar pumped by Ireland administration to strengthen the country's banks, 150 billion dollar pledged by Russia and 30 billion dollar put in by the Poland government.
Meanwhile, the whopping seven trillion-dollar injected into the economy by the US, includes billions of dollars of term funding facilities, currency swap arrangement with various foreign governments and rescue of Wall Street giants.
With the economic turmoil continuing unabated, the Bush administration recently came up with another mega 800 billion- dollar plan, which would help in buying toxic mortgage assets, among others.
Further, the Federal government threw a lifeline of more than 300 billion dollar to banking behemoth Citigroup. The rescue includes fresh capital injection to the tune of 40 billion dollar and guaranteeing assets worth 306 billion dollar.
In the United Kingdom, the administration has announced injection of more than 100 billion dollar, with funds primarily utilised to rescue its banks.
Bradford & Bingley, which was on the verge of collapse received nearly 33 billion dollar from the administration.
Source: Agencies
The amount is believed to grow even bigger with the turmoil still being in expansion mode.
A lion's share of about three-fourth of the worldwide bailout package of about 10.1 trillion dollar has come from the world's biggest economy, the US, whose total national debt has also incidentally crossed the 10 trillion-dollar mark.
The size of the entire Indian economy, where the impact of global crisis has been relatively less disastrous, pales at about one trillion dollar.
These bailouts, which have been prevalent in both developed and developing worlds due to the financial turmoil that turned severe after the fall of Lehman Brothers, have come in various forms of financial stimulus by the governments across the world -- be it putting in fresh money into a crisis-ridden institution, bringing them under the government's fold or other fiscal measures.
America set the ball rolling for such packages, with the world's largest economy announcing 700 billion-dollar plan primarily to shore up the fortunes of the country's battered financial institutions. Taking into account other rescue acts by the US, its total bailout plan runs into more than seven trillion dollars.
Various European nations together have come up with about 1.3 trillion dollar in financial assistance apart from the European Commission urging the constituent countries to pledge nearly 254 billion dollar.
Further, Germany has thrown lifelines to the tune of 60 billion dollar to save the country's leading financial firms -- Dexia Bank and Hypo Real Estate -- both of which were battered by the worsening economic turmoil.
While Hypo Real Estate received 50 billion dollar, Dexia Bank got a lifeline worth about 10 billion dollar.
Among the developing nations, China has announced a massive 586 billion-dollar plan to boost its economy and the funds would be mainly utilised for infrastructure projects.
Other major bailouts in recent times include 572 billion dollar pumped by Ireland administration to strengthen the country's banks, 150 billion dollar pledged by Russia and 30 billion dollar put in by the Poland government.
Meanwhile, the whopping seven trillion-dollar injected into the economy by the US, includes billions of dollars of term funding facilities, currency swap arrangement with various foreign governments and rescue of Wall Street giants.
With the economic turmoil continuing unabated, the Bush administration recently came up with another mega 800 billion- dollar plan, which would help in buying toxic mortgage assets, among others.
Further, the Federal government threw a lifeline of more than 300 billion dollar to banking behemoth Citigroup. The rescue includes fresh capital injection to the tune of 40 billion dollar and guaranteeing assets worth 306 billion dollar.
In the United Kingdom, the administration has announced injection of more than 100 billion dollar, with funds primarily utilised to rescue its banks.
Bradford & Bingley, which was on the verge of collapse received nearly 33 billion dollar from the administration.
Source: Agencies
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