Toyota Motor Corp is secretly developing a vehicle that will be powered solely by solar energy in an effort to turn around its struggling business with a futuristic ecological car, a top business daily reported.
The Nikkei newspaper, however, said it will be years before the planned vehicle will be available on the market. Toyota's offices were closed Thursday and officials were not immediately available for comment.
According to The Nikkei, Toyota is working on an electric vehicle that will get some of its power from solar cells equipped on the vehicle, and that can be recharged with electricity generated from solar panels on the roofs of homes. The automaker later hopes to develop a model totally powered by solar cells on the vehicle, the newspaper said without citing sources.
The solar car is part of efforts by Japan's top automaker to grow during hard times, The Nikkei said.
In December, Toyota stunned the nation by announcing it will slip into its first operating loss in 70 years, as it gets battered by a global slump, especially in the key U.S. market. The surging yen has also hurt the earnings of Japanese automakers.
Still, Toyota is a leader in green technology and executives have stressed they won't cut back on environmental research despite its troubles.
Toyota, the manufacturer of the Lexus luxury car and Camry sedan, has already begun using solar panels at its Tsutsumi plant in central Japan to produce some of its own electricity.
Source: Agencies
Saturday, January 3, 2009
Microsoft to axe 15,000 jobs this January
The world's top software firm, Microsoft, is planning a massive reduction in its workforce where up to 15,000 jobs may be axed this month, says a media report.
"Microsoft is preparing to announce the first wide scale layoffs in its 32-year history, with up to 15,000 jobs at risk, according to some predictions," The Times said in a report published online.
Speculation about job cuts was triggered by a report by Fudzilla, a technology blog site, which said employees were told that the software group was preparing for major layoffs from its global operations on January 15, it added.
Earlier, a brokerage firm Oppenheimer & Co's analyst Brad Reback had asked Microsoft to cut its workforce by 10% or about 9,100 employees.
"Such layoff exercise "would be a healthy move for the company," Reback added. Microsoft had close to 91,000 employees on its payrolls at end of July-September quarter.
Further, The Times report stated that the news of job losses came amid the company being forced to apologise for an embarrassing hiccup with its Zune digital music player.
A bug in the device's internal clock in the original 30-gigabyte version failed to cope with the last day of the leap year and thousands of owners were left with a frozen screen on December 31.
The report quoted Microsoft statement as saying, "the issue should be resolved over the next 24 hours as the time change moves to January 1, 2009. We expect the internal clock on the Zune 30 GB devices will automatically reset."
Besides, Microsoft is scheduled to release its second quarter results for the fiscal year 2008-09 on January 22.
Battling the economic crisis, companies in their bid to save costs, have announced over one lakh job cuts in December in the US.
Source: Agencies
"Microsoft is preparing to announce the first wide scale layoffs in its 32-year history, with up to 15,000 jobs at risk, according to some predictions," The Times said in a report published online.
Speculation about job cuts was triggered by a report by Fudzilla, a technology blog site, which said employees were told that the software group was preparing for major layoffs from its global operations on January 15, it added.
Earlier, a brokerage firm Oppenheimer & Co's analyst Brad Reback had asked Microsoft to cut its workforce by 10% or about 9,100 employees.
"Such layoff exercise "would be a healthy move for the company," Reback added. Microsoft had close to 91,000 employees on its payrolls at end of July-September quarter.
Further, The Times report stated that the news of job losses came amid the company being forced to apologise for an embarrassing hiccup with its Zune digital music player.
A bug in the device's internal clock in the original 30-gigabyte version failed to cope with the last day of the leap year and thousands of owners were left with a frozen screen on December 31.
The report quoted Microsoft statement as saying, "the issue should be resolved over the next 24 hours as the time change moves to January 1, 2009. We expect the internal clock on the Zune 30 GB devices will automatically reset."
Besides, Microsoft is scheduled to release its second quarter results for the fiscal year 2008-09 on January 22.
Battling the economic crisis, companies in their bid to save costs, have announced over one lakh job cuts in December in the US.
Source: Agencies
Friday, January 2, 2009
Kingfisher slashes air fares between 21 to 65 per cent
Kingfisher Airlines said it had slashed air fares between 21 per cent and 65 per cent on various routes across its network with effect from January 1, 2009.
"This is consistent with Kingfisher Airlines' mission to aggressively pursue increase in market share and to deliver India's only five star experience at highly competitive fares", a Kingfisher press statement said here on Friday.
The airlines will also offer significant discounts to its traditional corporate customer base, it said.
Its frequent flier programme, King Club, will now offer incentives and rewards including free overseas travel on its new launched international routes.
"The declining prices of ATF facilitate such consumer-benefitting initiatives that will also stimulate the industry", CEO and Chairman of the airlines, Vijay Mallya said in the statement.
"We will aggressively pursue sales and share and this will help sustain increased load factors in the shoulder season between February and April", he said.
Source: Agencies
V
"This is consistent with Kingfisher Airlines' mission to aggressively pursue increase in market share and to deliver India's only five star experience at highly competitive fares", a Kingfisher press statement said here on Friday.
The airlines will also offer significant discounts to its traditional corporate customer base, it said.
Its frequent flier programme, King Club, will now offer incentives and rewards including free overseas travel on its new launched international routes.
"The declining prices of ATF facilitate such consumer-benefitting initiatives that will also stimulate the industry", CEO and Chairman of the airlines, Vijay Mallya said in the statement.
"We will aggressively pursue sales and share and this will help sustain increased load factors in the shoulder season between February and April", he said.
Source: Agencies
V
Job losses would be temporary, says Montek Ahluwalia
The government on Friday said the current economic situation could lead to some job losses, but these would only be temporary with economy poised to grow at seven per cent this fiscal.
"Certainly in sectors that are badly affected, if we are not able to completely counter the effect of recession, there may be some job losses. We hope they will be temporary," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters while briefing on the stimulus package.
He said the idea behind this package is to ensure that economy does not slow down too much.
Ahluwalia said the economy is expected to grow at seven per cent this fiscal and that will be a good performance.
"So, when I say that this package will hopefully generate a growth rate of seven per cent, that is a growth rate that is certainly consistent with the total number of jobs in the economy increasing," he said.
The Planning Commission Deputy Chairman, however, said it is not possible to completely counter the impact of an external slowdown.
"But with this package what we are doing is minimising the pain on that score," he added.
Source: Agencies
"Certainly in sectors that are badly affected, if we are not able to completely counter the effect of recession, there may be some job losses. We hope they will be temporary," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters while briefing on the stimulus package.
He said the idea behind this package is to ensure that economy does not slow down too much.
Ahluwalia said the economy is expected to grow at seven per cent this fiscal and that will be a good performance.
"So, when I say that this package will hopefully generate a growth rate of seven per cent, that is a growth rate that is certainly consistent with the total number of jobs in the economy increasing," he said.
The Planning Commission Deputy Chairman, however, said it is not possible to completely counter the impact of an external slowdown.
"But with this package what we are doing is minimising the pain on that score," he added.
Source: Agencies
Nasscom no authority to probe Satyam-WB episode, reacts Som Mittal
Reacting to a request by an IT-BPO union UNITES to conduct inquiry into the Satyam-World Bank fiasco, IT industry body Nasscom on Friday said that it has no authority to look into the matter.
"It is a company-level issue and we do not have any authority to conduct an inquiry into the matter," Nasscom President Som Mittal said, adding that he was yet to received a formal request in this regard.
Fearing that the image of the Indian IT firms globally will take a beating following the Satyam fiasco, IT-BPO union UNITES has urged Nasscom to institute an inquiry in association with the World Bank on Satyam,which has been banned from doing business with the bank for eight years.
"We want the inquiry to look into the possibility that some vested interests, who want to tarnish the good name and reputation of the Indian IT companies," Prithviraj Lekkad, President, UNITES Professionals India told PTI.
Nasscom and the government would have to decisively intervene and get to the bottom of the World Bank findings on Satyam and clear the fair name of Indian firms, including Satyam, and the integrity of the staff working for them abroad, he added.
The Bank had said on December 23said, "Satyam was declared ineligible for contracts for providing improper benefits to Bank staff and for failing to maintain documentation to support fees charges for its sub-contractors.
Within two days of the Bank's announcement, Satyam had formally requested the World Bank to immediately withdraw those statements and asked it to "issue a new statement apologising to Satyam for the harm done to the company due to the Bank's actions."
Source: Agencies
"It is a company-level issue and we do not have any authority to conduct an inquiry into the matter," Nasscom President Som Mittal said, adding that he was yet to received a formal request in this regard.
Fearing that the image of the Indian IT firms globally will take a beating following the Satyam fiasco, IT-BPO union UNITES has urged Nasscom to institute an inquiry in association with the World Bank on Satyam,which has been banned from doing business with the bank for eight years.
"We want the inquiry to look into the possibility that some vested interests, who want to tarnish the good name and reputation of the Indian IT companies," Prithviraj Lekkad, President, UNITES Professionals India told PTI.
Nasscom and the government would have to decisively intervene and get to the bottom of the World Bank findings on Satyam and clear the fair name of Indian firms, including Satyam, and the integrity of the staff working for them abroad, he added.
The Bank had said on December 23said, "Satyam was declared ineligible for contracts for providing improper benefits to Bank staff and for failing to maintain documentation to support fees charges for its sub-contractors.
Within two days of the Bank's announcement, Satyam had formally requested the World Bank to immediately withdraw those statements and asked it to "issue a new statement apologising to Satyam for the harm done to the company due to the Bank's actions."
Source: Agencies
Thursday, January 1, 2009
Indian companies to hire 2,50,000 in next few months
There is a good news for job seekers, with the companies planning to hire more than 2,50,000 new employees over the next months -- making the new year a welcome change from the gloom of 2008 in the job market.
While the proposed over 2.5 lakh hiring is mostly for the financial services industry, the industry experts believe that the overall job market scenario is also set for a recovery in the second half of the year.
Topping the list of the companies planning to hire big include public sector banking giants like State Bank of India and Punjab National Bank as well as insurance firms such as Anil Ambani group's Reliance Life, SBI Life, Metlife, Max New York Life.
Even some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming days.
The proposed hirings include more than one lakh of full- time employees and about 1.5 lakh in the part-time positions with the insurance companies
.
Among other sectors, manufacturing and export-oriented businesses are, however, likely to continue to witness some pressure in the next few months, after huge job losses seen during 2008.
HR consultancy major Hewitt Associates believes that sectors like insurance, telecom (where new licensees are entering), infrastructure and Special Economic Zones may look for fresh hirings in 2009, being the major beneficiaries of the government's stimulus plans.
However, the hiring outlook remains uncertain for sectors like real estate, textile and retail sectors, it believes.
Another global HR consultancy Mercer believes that hiring plans by the companies would depend on their business prospects in the coming year.
Among the major companies planning to hire big time, SBI is planning to recruit 25,000 employees by March. Besides, its life insurance venture, SBI Life, is looking to hire 13,000 agents and 200 sales managers.
Besides, the country's second largest public sector lender PNB and Union Bank are also hiring 5,000 people each, while Indian Overseas Bank, South Indian Bank and IDBI Bank are bringing on board 1,000, 12,000 and 650 employees, respectively.
Among life insurance firms, Reliance Life is hiring 90,000 agents and 2,500 managers, Metlife has announced plans to hire 30,000 agents and 2,000 managers and Max New York Life is recruiting 30,000 agents and 14,000 managers.
Among other sectors, BPO major ACS is hiring 1,000 employees, while health care solutions provider Accentia plans to add 5,000 staff to its payrolls.
" Exponential growth had resulted in a culture where mediocrity flourished. 2009 is an opportunity for companies to bring the performance orientation back into how they manage their human capital," Mercer India Information Product Solution business leader Gangapriya Chakraverti said.
Global HR consultancy major Manpower believes that hiring outlook for the first quarter of 2009 was the weakest since 2005.
Expressing similar views, leading job portal Naukri.com's owner InfoEdge India CFO Ambarish Raghuvanshi told the media that hiring was going to be slow in the first quarter of 2009 as recruitment trends are impacted by the slowdown in economic growth and decline in business confidence in the country.
He, however, added that some improvement was likely in the second half of calendar year 2009.
Source: Agencies
While the proposed over 2.5 lakh hiring is mostly for the financial services industry, the industry experts believe that the overall job market scenario is also set for a recovery in the second half of the year.
Topping the list of the companies planning to hire big include public sector banking giants like State Bank of India and Punjab National Bank as well as insurance firms such as Anil Ambani group's Reliance Life, SBI Life, Metlife, Max New York Life.
Even some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming days.
The proposed hirings include more than one lakh of full- time employees and about 1.5 lakh in the part-time positions with the insurance companies
.
Among other sectors, manufacturing and export-oriented businesses are, however, likely to continue to witness some pressure in the next few months, after huge job losses seen during 2008.
HR consultancy major Hewitt Associates believes that sectors like insurance, telecom (where new licensees are entering), infrastructure and Special Economic Zones may look for fresh hirings in 2009, being the major beneficiaries of the government's stimulus plans.
However, the hiring outlook remains uncertain for sectors like real estate, textile and retail sectors, it believes.
Another global HR consultancy Mercer believes that hiring plans by the companies would depend on their business prospects in the coming year.
Among the major companies planning to hire big time, SBI is planning to recruit 25,000 employees by March. Besides, its life insurance venture, SBI Life, is looking to hire 13,000 agents and 200 sales managers.
Besides, the country's second largest public sector lender PNB and Union Bank are also hiring 5,000 people each, while Indian Overseas Bank, South Indian Bank and IDBI Bank are bringing on board 1,000, 12,000 and 650 employees, respectively.
Among life insurance firms, Reliance Life is hiring 90,000 agents and 2,500 managers, Metlife has announced plans to hire 30,000 agents and 2,000 managers and Max New York Life is recruiting 30,000 agents and 14,000 managers.
Among other sectors, BPO major ACS is hiring 1,000 employees, while health care solutions provider Accentia plans to add 5,000 staff to its payrolls.
" Exponential growth had resulted in a culture where mediocrity flourished. 2009 is an opportunity for companies to bring the performance orientation back into how they manage their human capital," Mercer India Information Product Solution business leader Gangapriya Chakraverti said.
Global HR consultancy major Manpower believes that hiring outlook for the first quarter of 2009 was the weakest since 2005.
Expressing similar views, leading job portal Naukri.com's owner InfoEdge India CFO Ambarish Raghuvanshi told the media that hiring was going to be slow in the first quarter of 2009 as recruitment trends are impacted by the slowdown in economic growth and decline in business confidence in the country.
He, however, added that some improvement was likely in the second half of calendar year 2009.
Source: Agencies
Ravi Uppal joins L&T Power as MD cum CEO
Ravi Uppal, till now head of global markets and member of group executive committee of engineering major ABB, has joined Larsen and Toubro as head of its power unit, L&T Power.
Mr Uppal has been appointed as managing director and chief executive officer of L&T Power, the Mumbai-based L&T said in a statement on Thursday.
"I am sure that Mr Uppal's presence will give further impetus to our thrust on the power sector," said L&T chairman AM Naik.
Mr Uppal is credited with the accelerated growth and turnaround of ABB's business in India and in the Asia Pacific region also, as its regional president, before taking up the role at the group level. He had earlier established Volvo's operations in India as its founding managing director and personally led the introduction of several new transportation concepts, including the highly successful intercity coaches of Volvo.
L&T, which has identified power as one of its thrust areas for the future, is making a major entry into generation and is set to become one of India's largest players in the supply of power island equipment including boilers, turbines, generators and related auxiliaries for super critical power plants rated to 1050 megawatts, said the L&T statement.
L&T has already set up joint ventures with Mitsubishi Heavy Industries for the manufacture of boilers and turbines. Advanced manufacturing facilities for these units are currently under construction. The company also has in place joint ventures with European and US majors for power plant engineering and auxiliary systems.
Source: Agencies
Mr Uppal has been appointed as managing director and chief executive officer of L&T Power, the Mumbai-based L&T said in a statement on Thursday.
"I am sure that Mr Uppal's presence will give further impetus to our thrust on the power sector," said L&T chairman AM Naik.
Mr Uppal is credited with the accelerated growth and turnaround of ABB's business in India and in the Asia Pacific region also, as its regional president, before taking up the role at the group level. He had earlier established Volvo's operations in India as its founding managing director and personally led the introduction of several new transportation concepts, including the highly successful intercity coaches of Volvo.
L&T, which has identified power as one of its thrust areas for the future, is making a major entry into generation and is set to become one of India's largest players in the supply of power island equipment including boilers, turbines, generators and related auxiliaries for super critical power plants rated to 1050 megawatts, said the L&T statement.
L&T has already set up joint ventures with Mitsubishi Heavy Industries for the manufacture of boilers and turbines. Advanced manufacturing facilities for these units are currently under construction. The company also has in place joint ventures with European and US majors for power plant engineering and auxiliary systems.
Source: Agencies
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