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Saturday, September 20, 2008

Intel to cut 1,000 managerial jobs worldwide

 

 

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Intel to cut 1,000 managerial jobs worldwide
15 Jul, 2006, 0024 hrs IST, TNN

 

BANGALORE: Intel, the world's largest chip maker, has announced that it would cut 1,000 jobs worldwide at the managerial level. This cut will be felt at its India operations too, with the affected employees starting to receive e-mails to this effect. 

They will be sent notices starting July 14 till July 17, and the last working day for them would be July 28. It is unclear how many Intel managers in India are being terminated at this moment. 

The axed employees will receive three months of separation pay and the compensation for the non-US employees will be in accordance with the local laws. 

The impact of this cut will be at the level of senior manager, managers (operations) and first line managers. An internal e-mail sent by Intel President & CEO Paul Otellini said, "We have done extremely well in the PC era, but we have to adjust to where our industry is going." 

On specifically targeting managers, the CEO said this level has increased bureaucracy and slowed down the decision-making process. 

In India, it's not known whether the affected managers are from the R&D activity or the sales and marketing functions but this cut is expected to be across the board. 

When contacted by ET, Intel India would only say, "We are not providing further details about the affected managers, either by function or location." 

This planned cut of 1,000 jobs at the managerial level will constitute about one per cent of its total 1,00,000 employees. Intel, the $38.8 billion chip giant has been undertaking a review of its operations following the soft demand for PCs and increased competition from its rival — AMD. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HP to cut 24,600 jobs following EDS takeover
16 Sep, 2008, 0424 hrs IST, REUTERS

 

 

Hewlett-Packard

 

SAN FRANCISCO: Hewlett-Packard Co plans to cut 7.5 percent of its work force, or 24,600 jobs, seeking to realize savings from its recent acquisition of Electronic Data Systems Corp, the company said on Monday. 

HP said it will carry out the cutbacks over the next three years, while replacing about half the jobs in new areas of its services business. It announced the plan ahead of a meeting with Wall Street analysts to detail the merger plans. 

Nearly half of the job reductions will take place in the United States, the Palo Alto, California-based company said. EDS was headquartered in Plano, Texas, near Dallas. 

HP said it will take a charge of $1.7 billion in the fiscal fourth quarter ending in October. Accounting for goodwill will cost $1.4 billion, while cost of the restructuring will involve anther $300 million. 

HP estimated $1.8 billion in annual cost savings once the three-year cost-cutting program is completed. 

"We are good at integrating companies ... I believe we will do it well," Chairman and Chief Executive Mark Hurd told financial analysts at the company's headquarters. 

At the time the $13.2 billion merger of computer services provider EDS into HP was announced in May, Hewlett-Packard counted 178,000 employees on its books and EDS had 142,000 employees. 

Including the value of common stock, options and restricted stock units, the enterprise value of the deal totals $13.9 billion. The deal closed last month. 

Hewlett-Packard said the vast majority of the cuts would focus on eliminating overlapping jobs at EDS in corporate functions such as legal, accounting,information technology and human resources. 

Work-force reduction plans will vary by country, based on local legal requirements and consultation with works councils and employee representatives, HP said. The company will provide employees affected by this restructuring program with severance packages, counseling and job placement services.

 

 

 

 

 

 

Satyam Computers to axe 4,500 employees
15 Sep, 2008, 0645 hrs IST,Debasmita Ghosh, TNN

 

 

 

Ramalinga Raju

Planning for the pink slip

HYDERABAD: Satyam Computers, which has just started giving pink slips to its employees, could potentially downsize its workforce by a whopping 4,500 employees. 

This translates to a little less than 9% of the 51,000 employees that the company employs. Company sources say 1,500 employees have been put under the performance improvement plan (PIP), euphemism for employees put on watch list and asked to shape up or ship out. 

Apart from this, 3,000 others have not been given any increment in the last appraisal cycle, thereby indicating that their services are dispensable. 

"This 1,500 plus 3,000 equals 4,500, which indicates the total number of persons who could be eased out of the company," the source said. 

On Friday, all employees received an e-mail from the company chief Ramalinga Raju warning them, especially the ones on the bench, to not bunk office and be in their best dress code, failing which they may face strict disciplinary action. 
Last week, some 400 employees from across different locations were given the pink slip. 

Sources also indicated that after getting the message many among the 3,000 have also started leaving jobs. But an estimate of the employees who have left is not known. 

A Satyam spokesperson said: "The bottom 5% of those who have got a bad appraisal are put under PIP and given dummy projects to prove themselves. If they fail they will be shown the door. But some of them marked for PIP said they have been given very little time to come up as winners." 

However, even as it downsizes, Satyam continues to hire new employees in thousands. Over 40% of them are fresh blood just passing out of college. 

The spectre of retrenchment is creating panic among employees of the company. "Of the 12 people working in my project, five were suddenly asked to resign, failing which, the company warned, it would fire us. Everything came without warning," said a techie pleading anonymity. 

 

TCS, Wipro recast hiring plans
16 Sep, 2008, 0743 hrs IST,Avinash Nair & Kumar Anand, ET Bureau

 

 

AHMEDABAD: As the heat of global slowdown spreads, several players in the IT and ITeS sector have modified recruitment policies, keeping them in sync with the changing market conditions and their pockets. The likes of TCS, Wipro and Keane are either going slow on recruitment or are hiring more number of trained hands. 

"During 2008, recruitments in IT/ITeS sector has seen a fall of 20-22 % as compared to the same period last year. The players have become more cautious," says Bangalore-based HR firm Ikya Human Capital Solutions chairman Marcel Parker. 

"There is a delay in decision making. While most IT firms have deferred their hiring, some have postponed their training programmes. A few have opted for judicious justin-time recruitment process," Parker told ET. 

TCS, that recruits about 18,000 employees every year has decided to make significant cuts in recruitment patterns to tide over the crisis. "This year we are not going for any mass recruitment. 
We have cut down on at least 20% of the total recruitment," said a senior HR official of TCS in Gujarat. "Our focus has largely been to hire more experienced candidates than go in for fresh recruits", the official added. 

Similarly, international IT firm, Keane is not just going slow on recruitments, but have also adopted a 'just-in-time-approach' on hiring. "Since the last three years, we used to hire 30-40 % more people than the previous year. But this year we are sticking to almost the same number of people we recruited last year", said Keane India senior VP S G Raja Sekharan. 

"Since January we have already made job offers to 3,000 students, which is in the range of what we had did last year. We do not want to make job offers and scale back (if market conditions deteriorate)," he said. 

"The confidence level in the markets is low compared to the levels that existed three years back. It is very difficult to forecast where the markets are headed in the recent future," Mr Sekharan said. 

IT-giant Wipro has introduced stringent 'quality measures' into their hiring pattern. "We have made our process even more stringent and brought in measures to ensure quality of hire. Innovative measures have been introduced including setting up a Talent Quality Group within Talent Acquisition", said Wipro Talent Acquisition VP Pradeep Bahirwani. 

In order to hire quality manpower, Wiro has also started campus hiring in US and UK. "We have pioneered programmes like Wipro Academy of Software Excellence (WASE) which helps graduates learn while they work on projects with us. We have an active campus program in India and have also started campus hiring in US and UK," he said. 

 

 


 

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