IT services company HCL Technologies has asked 450 employees at its Delhi and Bangalore offices to leave. A majority of those axed were on the bench.
An HCL Technologies official, on the condition of anonymity, said that the company had sacked 400 people in Delhi and another 50 in Bangalore in the last one-two months. The firm had earlier asked those on the bench, the buffer of employees kept on the rolls for new projects, to get assigned to projects or face the prospect of being asked to leave the firm, he said.
In an email reply, a company spokeswoman didn’t comment on the number of people sacked by the company but indicated that the move was linked to the performance of employees.
“HCL follows a systematic process of performance review and development, and the expectation of the organisation is for employees to meet the stringent performance standards. This is a routine and ongoing process,” she said.
As of December 31, 2008, HCL had about 52,957 employees. The global downturn has impacted the revenues of clients of Indian IT companies, thereby dampening demand for software services.
Agencies
Showing posts with label slide. Show all posts
Showing posts with label slide. Show all posts
Monday, March 2, 2009
Infosys cuts five percent of Australia staff
Top IT firm Infosys Technologies is restructuring its Australian operations. This has created some redundancies, downsizing its workforce at Infosys Australia by around 5 per cent, a source briefed in the matter said.
The subsidiary employs 360 people, a majority of them from Expert Information Services -- the first acquisition Infosys Australia made six years ago.
Infosys board member and director for human resources Mohandas Pai confirmed that there were some separations from Infosys Australia. Responding to a mail, he said, “We have had an organisational restructuring in our Australia subsidiary and as a result, some positions have become redundant. It is the first time after the acquisition that this is being done.”
The tech leader has, however, promised that the laid-off employees would get assistance for outplacement as well as severance pay. A few months ago, Gary Ebeyan, who used to head Infosys Australia, quit the firm citing personal reasons. He was replaced by Jacqueline Korhonen, a former IBM executive. Revenues and profits of Infosys Australia have been slipping in the past three quarters of the fiscal in part due to the impact of the currency movements.
From a first quarter revenue of $34 million and a net income of $3 million, its second quarter revenue slipped to $30.84 million and net income to $2.8 million. In the third quarter, revenue fell further to $26 million and net income to $1.62 million.
“The Australian dollar is weakening significantly,” explained an analyst, who said Infosys could be laying off staff in other regions such as the UK as well. In Australia, Infosys’ largest customer is Telestra, he added.
Agencies
The subsidiary employs 360 people, a majority of them from Expert Information Services -- the first acquisition Infosys Australia made six years ago.
Infosys board member and director for human resources Mohandas Pai confirmed that there were some separations from Infosys Australia. Responding to a mail, he said, “We have had an organisational restructuring in our Australia subsidiary and as a result, some positions have become redundant. It is the first time after the acquisition that this is being done.”
The tech leader has, however, promised that the laid-off employees would get assistance for outplacement as well as severance pay. A few months ago, Gary Ebeyan, who used to head Infosys Australia, quit the firm citing personal reasons. He was replaced by Jacqueline Korhonen, a former IBM executive. Revenues and profits of Infosys Australia have been slipping in the past three quarters of the fiscal in part due to the impact of the currency movements.
From a first quarter revenue of $34 million and a net income of $3 million, its second quarter revenue slipped to $30.84 million and net income to $2.8 million. In the third quarter, revenue fell further to $26 million and net income to $1.62 million.
“The Australian dollar is weakening significantly,” explained an analyst, who said Infosys could be laying off staff in other regions such as the UK as well. In Australia, Infosys’ largest customer is Telestra, he added.
Agencies
Saturday, December 20, 2008
Mobile phone sales set to slide in 2009!
An IDC report Says the impact of economic crisis on mobile phone market may not continue past 2009.
Technology research firm IDC said in a report that the global mobile phone sales are set to slide for the first time since 2001 as a result of the global economic crisis.
The report forecasts that total mobile phone volumes would be 1.9 per cent lower in 2009 than the 2008 levels, said a press release.
In 2001, the shipments had declined 2.3 per cent. Over the past several years, the mobile phone market has enjoyed double-digit annual growth due to an increased emphasis on emerging markets.
However, emerging market growth has been steadily slowing as these markets mature, the release said. IDC now expects worldwide growth to be just 7.1 per cent in 2008 before slipping into negative growth in 2009.
A number of major industry players, including component suppliers, handset makers, and operators have announced their concerns about handset volumes in 2009.
Most have indicated that they expect a year-over-year decrease due to the flagging global economy, the release added.
The report stated that it did not expect the downturn to continue past 2009, with the market in 2010 showing signs of revival as the economic recovery takes effect. "Converged mobile devices remain a much sought-after option for many consumers," noted Ramon Llamas, senior analyst, Mobile Devices Technology and Trends.
He added that users have come to realize what these devices can do beyond voice telephony, especially when it comes to running applications. In response, handset vendors have been building the product and applications portfolios to catch this wave of opportunity.
Technology research firm IDC said in a report that the global mobile phone sales are set to slide for the first time since 2001 as a result of the global economic crisis.
The report forecasts that total mobile phone volumes would be 1.9 per cent lower in 2009 than the 2008 levels, said a press release.
In 2001, the shipments had declined 2.3 per cent. Over the past several years, the mobile phone market has enjoyed double-digit annual growth due to an increased emphasis on emerging markets.
However, emerging market growth has been steadily slowing as these markets mature, the release said. IDC now expects worldwide growth to be just 7.1 per cent in 2008 before slipping into negative growth in 2009.
A number of major industry players, including component suppliers, handset makers, and operators have announced their concerns about handset volumes in 2009.
Most have indicated that they expect a year-over-year decrease due to the flagging global economy, the release added.
The report stated that it did not expect the downturn to continue past 2009, with the market in 2010 showing signs of revival as the economic recovery takes effect. "Converged mobile devices remain a much sought-after option for many consumers," noted Ramon Llamas, senior analyst, Mobile Devices Technology and Trends.
He added that users have come to realize what these devices can do beyond voice telephony, especially when it comes to running applications. In response, handset vendors have been building the product and applications portfolios to catch this wave of opportunity.
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