3M Co is cutting 1,800 jobs in the fourth quarter and ordering some workers to take vacation or unpaid time off for the last two weeks of the year.
3M spokeswoman Jackie Berry told the Star Tribune for a story posted Friday night that the worsening economy forced the cuts. She told the newspaper she didn't have a dollar amount on how much the company expects to save. The company is also postponing merit pay for next year, she said.
The Maplewood-based manufacturer had earlier announced 1,000 job cuts in the third quarter, which ended Sept. 30. The 1,800 new layoffs will come from the U.S., Western Europe and other developed nations.
Berry didn't say where specific cuts would be made, but told the Star Tribune "several hundred" will be in the United States.
Berry and other 3M spokespeople did not immediately return phone messages left by The Associated Press.
Along with the job cuts, 3M is pushing hundreds of workers to take vacation or unpaid time off for one to two weeks this month, the newspaper reported.
Berry said merit pay is normally distributed annually in April.
"What we have done is delay that merit increase," she said. "It's not part of the 2009 plan. However, that could change if the economic conditions are better than expected."
Source: Agencies
Saturday, December 6, 2008
No raise for Hewlett-Packard employees
If you are a Hewlett-Packard employee, you don’t have a raise coming your way. According to an internal memo, the company plans to use the funds meant for raises and bonuses to fund pension plans and other benefits. Interestingly, the memo also indicates that the upper management has nothing to worry.
Employees have been notified by e-mail that they won’t receive a salary increase in fiscal 2009, which began in November. The world’s largest personal-computer maker is freezing salaries as part of Chief Executive Officer Mark Hurd’s efforts to contain costs. The company has already gone ahead and cut jobs, closed offices and merged data centers to lift profit. It is also limiting travel, curtailing hiring and eliminating “favorite science projects” to save on research costs in 2009, Chief Financial Officer Cathie Lesjak said last month on a conference call.
Hewlett-Packard, which has 320,000 employees, declined to confirm the salary freeze. “In this difficult macroeconomic environment, we believe it is prudent and responsible to reduce costs where possible,” said spokeswoman Emma McCulloch. “HP has a longstanding and disciplined approach to managing costs in order to invest in the company’s growth.”
Hewlett-Packard, based in Palo Alto, California, the shares have dropped 34 per cent this year.
Hurd, who became CEO in 2005, received $25.3 million in total compensation in fiscal 2007.
Source: Economic Times
Employees have been notified by e-mail that they won’t receive a salary increase in fiscal 2009, which began in November. The world’s largest personal-computer maker is freezing salaries as part of Chief Executive Officer Mark Hurd’s efforts to contain costs. The company has already gone ahead and cut jobs, closed offices and merged data centers to lift profit. It is also limiting travel, curtailing hiring and eliminating “favorite science projects” to save on research costs in 2009, Chief Financial Officer Cathie Lesjak said last month on a conference call.
Hewlett-Packard, which has 320,000 employees, declined to confirm the salary freeze. “In this difficult macroeconomic environment, we believe it is prudent and responsible to reduce costs where possible,” said spokeswoman Emma McCulloch. “HP has a longstanding and disciplined approach to managing costs in order to invest in the company’s growth.”
Hewlett-Packard, based in Palo Alto, California, the shares have dropped 34 per cent this year.
Hurd, who became CEO in 2005, received $25.3 million in total compensation in fiscal 2007.
Source: Economic Times
No raise for Hewlett-Packard employees
If you are a Hewlett-Packard employee, you don’t have a raise coming your way. According to an internal memo, the company plans to use the funds meant for raises and bonuses to fund pension plans and other benefits. Interestingly, the memo also indicates that the upper management has nothing to worry.
Employees have been notified by e-mail that they won’t receive a salary increase in fiscal 2009, which began in November. The world’s largest personal-computer maker is freezing salaries as part of Chief Executive Officer Mark Hurd’s efforts to contain costs. The company has already gone ahead and cut jobs, closed offices and merged data centers to lift profit. It is also limiting travel, curtailing hiring and eliminating “favorite science projects” to save on research costs in 2009, Chief Financial Officer Cathie Lesjak said last month on a conference call.
Hewlett-Packard, which has 320,000 employees, declined to confirm the salary freeze. “In this difficult macroeconomic environment, we believe it is prudent and responsible to reduce costs where possible,” said spokeswoman Emma McCulloch. “HP has a longstanding and disciplined approach to managing costs in order to invest in the company’s growth.”
Hewlett-Packard, based in Palo Alto, California, the shares have dropped 34 per cent this year.
Hurd, who became CEO in 2005, received $25.3 million in total compensation in fiscal 2007.
Source: Economic Times
Employees have been notified by e-mail that they won’t receive a salary increase in fiscal 2009, which began in November. The world’s largest personal-computer maker is freezing salaries as part of Chief Executive Officer Mark Hurd’s efforts to contain costs. The company has already gone ahead and cut jobs, closed offices and merged data centers to lift profit. It is also limiting travel, curtailing hiring and eliminating “favorite science projects” to save on research costs in 2009, Chief Financial Officer Cathie Lesjak said last month on a conference call.
Hewlett-Packard, which has 320,000 employees, declined to confirm the salary freeze. “In this difficult macroeconomic environment, we believe it is prudent and responsible to reduce costs where possible,” said spokeswoman Emma McCulloch. “HP has a longstanding and disciplined approach to managing costs in order to invest in the company’s growth.”
Hewlett-Packard, based in Palo Alto, California, the shares have dropped 34 per cent this year.
Hurd, who became CEO in 2005, received $25.3 million in total compensation in fiscal 2007.
Source: Economic Times
Slowing economy forces Tata Motors, M&M to shut plants
Indian auto makers Tata Motors Ltd and Mahindra & Mahindra Ltd are closing plants for up to 6 days in December as demand for vehicles is hit by tight financing in a slowing economy.
The country's top vehicle maker Tata Motors plans to shut its heavy vehicle plant in east India for six days, a spokesman said. It said earlier this week it would to shut a commercial vehicle plant in west India for three days.
Tata Motors', India's top bus and truck maker, November vehicle sales dropped 30 percent to 32,696 units. The country's biggest utility vehicle and tractor maker Mahindra said most of its automotive plants will be shut for up to 6 days in December due to easing demand.
"Taking into account the slowdown in demand for the company's products it has been decided to align the company's production plan with the expected demand for the month of December," Mahindra said in a statement.
Mahindra, which also makes the Logan sedan in a venture with Renault, earlier this week said vehicle sales in November fell 39 percent to 11,273 units. Carmakers in India have cut prices and are offering freebies to woo back buyers as sales slide after nearly five years of rapid growth.
Source: Agencies
The country's top vehicle maker Tata Motors plans to shut its heavy vehicle plant in east India for six days, a spokesman said. It said earlier this week it would to shut a commercial vehicle plant in west India for three days.
Tata Motors', India's top bus and truck maker, November vehicle sales dropped 30 percent to 32,696 units. The country's biggest utility vehicle and tractor maker Mahindra said most of its automotive plants will be shut for up to 6 days in December due to easing demand.
"Taking into account the slowdown in demand for the company's products it has been decided to align the company's production plan with the expected demand for the month of December," Mahindra said in a statement.
Mahindra, which also makes the Logan sedan in a venture with Renault, earlier this week said vehicle sales in November fell 39 percent to 11,273 units. Carmakers in India have cut prices and are offering freebies to woo back buyers as sales slide after nearly five years of rapid growth.
Source: Agencies
Can a software predicts pollutants' path?
Researchers in Australia claim to have developed a software that can predict which way airborne odours and pollutants, from farms or factories, will actually blow.
According to them, the software package predicts local meteorology and assesses the likely pathway and concentration of pollutants as they disperse.
Lead researcher Dr Peter Hurley of CSIRO said: "The Air Pollution Model (TAPM) increases our ability to pinpoint pollutant behaviour in a wider range of atmospheric conditions.
"Over the coming years the new model will continue to fill a gap between simple air pollution dispersion models and the much more complex earth system models."
In fact, earlier versions of the software are widely used throughout Australia by researchers and consultants, as well as internationally by 190 customers in 25 countries.
From a one-dimensional model created by Dr Hurley's team in the mid-1990s, the software has now evolved into a complex environmental modelling tool with meteorological and air pollution components that will suit most local-scale environmental applications.
In Australia, the model has recently been used in Launceston where strong temperature inversions trap particulate emissions from wood fires, burning-off, vehicles and industry.
Some new research directions are also emerging, such as the use of TAPM coupled with CSIRO's complex chemistry model by CSIRO scientists Drs Martin Cope and Sunhee Lee. Applications include urban planning under future climate scenarios.
Source: Agencies
According to them, the software package predicts local meteorology and assesses the likely pathway and concentration of pollutants as they disperse.
Lead researcher Dr Peter Hurley of CSIRO said: "The Air Pollution Model (TAPM) increases our ability to pinpoint pollutant behaviour in a wider range of atmospheric conditions.
"Over the coming years the new model will continue to fill a gap between simple air pollution dispersion models and the much more complex earth system models."
In fact, earlier versions of the software are widely used throughout Australia by researchers and consultants, as well as internationally by 190 customers in 25 countries.
From a one-dimensional model created by Dr Hurley's team in the mid-1990s, the software has now evolved into a complex environmental modelling tool with meteorological and air pollution components that will suit most local-scale environmental applications.
In Australia, the model has recently been used in Launceston where strong temperature inversions trap particulate emissions from wood fires, burning-off, vehicles and industry.
Some new research directions are also emerging, such as the use of TAPM coupled with CSIRO's complex chemistry model by CSIRO scientists Drs Martin Cope and Sunhee Lee. Applications include urban planning under future climate scenarios.
Source: Agencies
Will the slowdown benefit BPO industry?
Indian industry will feel the real impact of the current meltdown in the US and other developed economies in the first quarter of 2009, with the business process industry likely to see job losses of up to a quarter of a million, said Samir Chopra, President, Business Process Industry Association of India (BPIAI).
Addressing delegates at a session on 'Surviving US Recession- Developing & Transforming Policies', Chopra, however, saw a silver lining in the ongoing recession for the BPO sector, saying that it would compel more companies in the US and Europe to look at outsourcing as a way cut their costs and improve efficiencies.
He said that urgent government measures were needed to boost the domestic business process industry, specially the medium and small enterprises. These included both fiscal and administrative measures, like extending the tax relief for the IT sector for another 5-10 years and export promotion steps, including a market development fund. The session was organised here today by BPIAI in association with Confederation of Indian Industry (CII).
According to him, the current situation had been impacted further by the recent terrorist carnage in Mumbai, which had hit sentiments across the board. "It has led to widespread cancellations of visit and even forthcoming international events. The government must now take suitable remedial steps to boost homeland security and the emergency response system."
For Anand Pillai, the current meltdown was an opportunity for the Indian BPO sector to add value to its services. This, he said, was important if they were to retain and expand their client base. Taking an optimistic view of the current slowdown, he said that a positive response and attitude would help shorten the recession cycle. "For this, it was important workplaces should engender learning, preparing employees for the turnaround, when it happens.
Citing the example of his company, HCL Technologies Ltd, Pillai said that "the core asset in any IT industry were its staff and cost-cutting through retrenchments was not the right policy to follow. The savings resulting from such job cuts are miniscule when compared to the damage they cause in terms of employee satisfaction and service delivery."
Disagreeing with Chopra that the current slowdown was temporary, Praveen Sengar, Head-Software, Services & Industry (Vertical Reserach), IDC India Ltd, said recovery from the last slowdown in 2001 had taken six quarters when the sectors affected were much less. "This time, I see a recovery only around the first half or the third quarter of 2010."
According to Sengar, the current slowdown was likely to slowdown expansion in the BPO industry, with the time taken for signing up new clients taking a longer period of time. "It will also result in greater consolidation and promote diversification into areas hitherto considered as non-core activities."
On his part, S N Zindal, former Director-General, Software Technology Parks of India, said that "it was not true that the Indian IT industry was in recession, though he agreed that there could be substantial decline in its growth rate. This is a period when the Indian IT industry, specially the BPO units, should build on their advantage by improving manpower, developing suitable infrastructure and having the right government policies in place."
Agreeing that the SMEs were the most vulnerable to any downturn, Zindal said that the right policies could help such units move up the value chain. He said that even as the slowdown continued in the US and other developed countries; such units could help tide over the crisis by expanding the domestic market.
Emphasizing the need for more reforms, Kiron Prabhakar, Partner, PAV Law Offices, said that amendments had been proposed several times to the Information Technology Act 2000, "but these are yet to see the light of the day". According to her, the other areas needing reform were Incomes Tax Act and the Stamp Duty Act apart from changes in the immigration laws.
Prabhakar also advocated doing away with the cap on royalty and knowhow fees, saying that were impeding technology transfer to Indian companies.Industry has been seeking a change in the labour regulations for quite some time and the government must ensure that these promote outsourcing, she added.
Proposing the vote of thanks, Deepak Ohlyan, Managing Committee Member, BPIAI, and Director, Dell International Services BPO, said that the recent terrorist incidents in Mumbai were a matter of great concern to Indian industry. He said that it was time for the domestic BPO industry to consolidate on its recent growth and prepare for the turnaround by upgrading both staff and services.
A panel discussion on the impact of the recent terrorist attacks on the business process industry was also organized on occasion, with participants seeking stronger government action and greater political will to tackle the situation.
Some participants in the discussion like Col K C Goswami, Consultant, Special Projects, G4S Security Services; Sanjog Gupta of NDTV, and Arjun Wallia, Founder & Chairman, Managing Director, Walsons -- A Securitas Partner Company, felt that the attacks were a wake-up call for the Indian industry to take immediate steps to improve physical security of their establishments. There was no time for complacency, they added.
Other speakers like Srinivas Pingali, EVP, Quatrro BPO Solutions Pvt Ltd, said that the BPO industry had been directly impacted by the attacks and "any such attack in the future could severely dent the prospects of the domestic industry. The immediate business impact has also been minimized by the forthcoming Christmas and New Year holidays."
Responding to a suggestion, Chopra agreed on the need for the association to come out with its own security standards for the BPO sector. This, he said, would reassure potential overseas investors and clients, even as they would enable domestic companies to be prepared for ongoing security audits and checks.
Source: Times of India
Addressing delegates at a session on 'Surviving US Recession- Developing & Transforming Policies', Chopra, however, saw a silver lining in the ongoing recession for the BPO sector, saying that it would compel more companies in the US and Europe to look at outsourcing as a way cut their costs and improve efficiencies.
He said that urgent government measures were needed to boost the domestic business process industry, specially the medium and small enterprises. These included both fiscal and administrative measures, like extending the tax relief for the IT sector for another 5-10 years and export promotion steps, including a market development fund. The session was organised here today by BPIAI in association with Confederation of Indian Industry (CII).
According to him, the current situation had been impacted further by the recent terrorist carnage in Mumbai, which had hit sentiments across the board. "It has led to widespread cancellations of visit and even forthcoming international events. The government must now take suitable remedial steps to boost homeland security and the emergency response system."
For Anand Pillai, the current meltdown was an opportunity for the Indian BPO sector to add value to its services. This, he said, was important if they were to retain and expand their client base. Taking an optimistic view of the current slowdown, he said that a positive response and attitude would help shorten the recession cycle. "For this, it was important workplaces should engender learning, preparing employees for the turnaround, when it happens.
Citing the example of his company, HCL Technologies Ltd, Pillai said that "the core asset in any IT industry were its staff and cost-cutting through retrenchments was not the right policy to follow. The savings resulting from such job cuts are miniscule when compared to the damage they cause in terms of employee satisfaction and service delivery."
Disagreeing with Chopra that the current slowdown was temporary, Praveen Sengar, Head-Software, Services & Industry (Vertical Reserach), IDC India Ltd, said recovery from the last slowdown in 2001 had taken six quarters when the sectors affected were much less. "This time, I see a recovery only around the first half or the third quarter of 2010."
According to Sengar, the current slowdown was likely to slowdown expansion in the BPO industry, with the time taken for signing up new clients taking a longer period of time. "It will also result in greater consolidation and promote diversification into areas hitherto considered as non-core activities."
On his part, S N Zindal, former Director-General, Software Technology Parks of India, said that "it was not true that the Indian IT industry was in recession, though he agreed that there could be substantial decline in its growth rate. This is a period when the Indian IT industry, specially the BPO units, should build on their advantage by improving manpower, developing suitable infrastructure and having the right government policies in place."
Agreeing that the SMEs were the most vulnerable to any downturn, Zindal said that the right policies could help such units move up the value chain. He said that even as the slowdown continued in the US and other developed countries; such units could help tide over the crisis by expanding the domestic market.
Emphasizing the need for more reforms, Kiron Prabhakar, Partner, PAV Law Offices, said that amendments had been proposed several times to the Information Technology Act 2000, "but these are yet to see the light of the day". According to her, the other areas needing reform were Incomes Tax Act and the Stamp Duty Act apart from changes in the immigration laws.
Prabhakar also advocated doing away with the cap on royalty and knowhow fees, saying that were impeding technology transfer to Indian companies.Industry has been seeking a change in the labour regulations for quite some time and the government must ensure that these promote outsourcing, she added.
Proposing the vote of thanks, Deepak Ohlyan, Managing Committee Member, BPIAI, and Director, Dell International Services BPO, said that the recent terrorist incidents in Mumbai were a matter of great concern to Indian industry. He said that it was time for the domestic BPO industry to consolidate on its recent growth and prepare for the turnaround by upgrading both staff and services.
A panel discussion on the impact of the recent terrorist attacks on the business process industry was also organized on occasion, with participants seeking stronger government action and greater political will to tackle the situation.
Some participants in the discussion like Col K C Goswami, Consultant, Special Projects, G4S Security Services; Sanjog Gupta of NDTV, and Arjun Wallia, Founder & Chairman, Managing Director, Walsons -- A Securitas Partner Company, felt that the attacks were a wake-up call for the Indian industry to take immediate steps to improve physical security of their establishments. There was no time for complacency, they added.
Other speakers like Srinivas Pingali, EVP, Quatrro BPO Solutions Pvt Ltd, said that the BPO industry had been directly impacted by the attacks and "any such attack in the future could severely dent the prospects of the domestic industry. The immediate business impact has also been minimized by the forthcoming Christmas and New Year holidays."
Responding to a suggestion, Chopra agreed on the need for the association to come out with its own security standards for the BPO sector. This, he said, would reassure potential overseas investors and clients, even as they would enable domestic companies to be prepared for ongoing security audits and checks.
Source: Times of India
Do Internet users want more languages?
Which is the one language that the people of India aspire to learn? Which is the one language that most Indians use while communicating on the Internet?
The answer is English. But you obviously knew that.
At the Internet Governance Forum being held in Hyderabad, Ajit Balakrishnan, CEO of Rediff.com, said that there is no evidence from the last ten years of the Internet business that users want Indian languages. Rediff has email in 11 languages, and 99% of the users prefer to use email in English, says a report.
Balakrishnan believes that a majority of Indians use the Internet for non- or little language skill associated activities like sending send messages, download music, view pictures or videos. These activities hardly require text input/usage.
Interesting comment from the Rediff CEO so is he trying to say that the investment he made to make those 11 languages available for its users was futile?
Not really; in fact, it could be called future-ready. In the coming years when Internet penetrates into large sections of rural India, that's when the regional languages will come handy, perhaps?
Source: Techtree
The answer is English. But you obviously knew that.
At the Internet Governance Forum being held in Hyderabad, Ajit Balakrishnan, CEO of Rediff.com, said that there is no evidence from the last ten years of the Internet business that users want Indian languages. Rediff has email in 11 languages, and 99% of the users prefer to use email in English, says a report.
Balakrishnan believes that a majority of Indians use the Internet for non- or little language skill associated activities like sending send messages, download music, view pictures or videos. These activities hardly require text input/usage.
Interesting comment from the Rediff CEO so is he trying to say that the investment he made to make those 11 languages available for its users was futile?
Not really; in fact, it could be called future-ready. In the coming years when Internet penetrates into large sections of rural India, that's when the regional languages will come handy, perhaps?
Source: Techtree
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