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Indian team for T20 World Cup 2009 England
http://weeksupdate.com/2009/04/indian-team-for-t20-world-cup-2009.html
The 30 member probable Indian squad for selection of the team for the forthcoming T20Cricket World Cup 2009 to be held in England has been declared.
The team include - Virender Sehwag, Gautam Gambhir, MS Dhoni, Suresh Raina, Rohit Sharma, Yuvraj Singh, Yusuf Pathan, Irfan Pathan, Zaheer Khan, Ishant Sharma, Munaf Patel, Ravindra Jadeja, Pragyan Ojha, Harbhajan singh, Praveen Kumar, Dinesh Karthik, M Vijay, Ajinkya Rahane, S Badrinath, Robin Uthappa, Virat Kohli, Manoj Tiwary, Wriddhiman Saha, Abhishek Nayar, Amit Mishra, R Ashwin, RP Singh, L Balaji, Dhawal Kulkarni, Naman Ojha.
The 30 member probable Indian squad for selection of the team for the forthcoming T20Cricket World Cup 2009 to be held in England has been declared.
The team include - Virender Sehwag, Gautam Gambhir, MS Dhoni, Suresh Raina, Rohit Sharma, Yuvraj Singh, Yusuf Pathan, Irfan Pathan, Zaheer Khan, Ishant Sharma, Munaf Patel, Ravindra Jadeja, Pragyan Ojha, Harbhajan singh, Praveen Kumar, Dinesh Karthik, M Vijay, Ajinkya Rahane, S Badrinath, Robin Uthappa, Virat Kohli, Manoj Tiwary, Wriddhiman Saha, Abhishek Nayar, Amit Mishra, R Ashwin, RP Singh, L Balaji, Dhawal Kulkarni, Naman Ojha.
Vote for Rupee Symbol
The Government of India wants your help. It has invited the public to suggest a symbol for the Rupee. Just as the Dollar is universally denoted by $' the government thinks the Rupee should also have its own unique symbol that captures a sense of India's history and culture. Listed below are 19 suggestions from ET's team of designers in the mentioned link. Please vote for the one you find best. ET will present all these symbols ' along with the ET viewers' preference' to the Ministry of Financ |
K Ramalingam named Chairman of Maytas Infra board
HYDERABAD: K Ramalingam, former Chairman of the Airports Authority of India (AAI), and Maytas Infra's newly inducted board member, has been named Chairman of the board.
Ramalingam and Anil K Agarwal, past president of Assocham were appointed in the first week of April as additional directors on board by the Company Law Board.
The government had last month appointed noted tax lawyer O P Vaish and past president of Institute of Chartered Accountants of India Ved Jain on the board of Maytas Infra following an order by the Company Law Board in this regard.
Maytas Infra is promoted by B Teja Raju, son of B Ramalinga Raju disgraced founder of Satyam Computers. The firm was starved of funds after Ramalinga Raju confessed to perpetrating a Rs, 7,000 crore financial fraud at Satyam.
The government wanted to supersede the Maytas board, but this was turned down by the Company Law Board. The CLB instead issued a directive to the government to appoint four nominee directors.
Maytas Infra is now undergoing a corporate debt restructuring (CDR) exercise. CDR is done to re-organise the outstanding obligations to financial institutions.
Banks have an exposure of around Rs 5000 crore in the firm.
It has an order book of about Rs 8,000 crore, apart from the prestigious Rs 12,000 crore Metro Rail Project, which is in a limbo.
Ramalingam and Anil K Agarwal, past president of Assocham were appointed in the first week of April as additional directors on board by the Company Law Board.
The government had last month appointed noted tax lawyer O P Vaish and past president of Institute of Chartered Accountants of India Ved Jain on the board of Maytas Infra following an order by the Company Law Board in this regard.
Maytas Infra is promoted by B Teja Raju, son of B Ramalinga Raju disgraced founder of Satyam Computers. The firm was starved of funds after Ramalinga Raju confessed to perpetrating a Rs, 7,000 crore financial fraud at Satyam.
The government wanted to supersede the Maytas board, but this was turned down by the Company Law Board. The CLB instead issued a directive to the government to appoint four nominee directors.
Maytas Infra is now undergoing a corporate debt restructuring (CDR) exercise. CDR is done to re-organise the outstanding obligations to financial institutions.
Banks have an exposure of around Rs 5000 crore in the firm.
It has an order book of about Rs 8,000 crore, apart from the prestigious Rs 12,000 crore Metro Rail Project, which is in a limbo.
Laid-off US workers finding new jobs, less pay
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/Laid-off-US-workers-finding-new-jobs-less-pay/articleshow/4378455.cms
NEW YORK: Half of US workers laid off in the past year who were questioned in a survey released on Wednesday reported finding new jobs, bur often with less pay and in different field.
The survey of 807 adults who lost full-time jobs in the past year showed that 49 percent had found new jobs but of those, 49 percent now earn less money.
The survey was conducted for CareerBuilder.com, an online jobs site. Those questioned for the survey were chosen as representative of workers in an array of industries at various job levels around the nation, CareerBuilder.com spokeswoman Jennifer Grasz said.
Of those with new jobs, 38 percent said they are now employed in a different field, the survey found. Eight percent reported finding part-time work.
One-sixth of those with new jobs said they had to relocate, one-sixth are now working more hours and one-sixth reported getting higher pay, the survey found.
"This is encouraging news for the job seekers out there," Grasz said. "There is a popular misconception that if you lose your job today you won't be able to find another opportunity."
"There are companies out there hiring today," Grasz said.
Workers aged 35 to 44 were most likely to find new jobs, while workers aged 18 to 24 were least likely, according to the survey. More men than women found new jobs.
A third of the laid-off workers said they got severance packages from their employers, and two-thirds of those said the severance lasted for two months or less. Forty-five percent of the laid-off workers said they had to tap into long-term savings.
The survey was conducted between February 20 and March 11 by Harris Interactive. Its margin of error was plus or minus 3.4 percentage points.
CareerBuilder.com is owned by Gannett Co, Tribune Co, the McClatchy Co and Microsoft Corp.
NEW YORK: Half of US workers laid off in the past year who were questioned in a survey released on Wednesday reported finding new jobs, bur often with less pay and in different field.
The survey of 807 adults who lost full-time jobs in the past year showed that 49 percent had found new jobs but of those, 49 percent now earn less money.
The survey was conducted for CareerBuilder.com, an online jobs site. Those questioned for the survey were chosen as representative of workers in an array of industries at various job levels around the nation, CareerBuilder.com spokeswoman Jennifer Grasz said.
Of those with new jobs, 38 percent said they are now employed in a different field, the survey found. Eight percent reported finding part-time work.
One-sixth of those with new jobs said they had to relocate, one-sixth are now working more hours and one-sixth reported getting higher pay, the survey found.
"This is encouraging news for the job seekers out there," Grasz said. "There is a popular misconception that if you lose your job today you won't be able to find another opportunity."
"There are companies out there hiring today," Grasz said.
Workers aged 35 to 44 were most likely to find new jobs, while workers aged 18 to 24 were least likely, according to the survey. More men than women found new jobs.
A third of the laid-off workers said they got severance packages from their employers, and two-thirds of those said the severance lasted for two months or less. Forty-five percent of the laid-off workers said they had to tap into long-term savings.
The survey was conducted between February 20 and March 11 by Harris Interactive. Its margin of error was plus or minus 3.4 percentage points.
CareerBuilder.com is owned by Gannett Co, Tribune Co, the McClatchy Co and Microsoft Corp.
Make calls from U.S. to India for 1 cent per minute
http://www.siliconindia.com/shownews/Make_calls_from_US_to_India_for_1_cent_per_minute_-nid-54959.html/1/1
New Delhi: Telecom service provider Bharti Airtel Wednesday launched a new offer for its U.S. customers which will enable them to make calls to India at 1 cent per minute using online calling cards.
"With our IndiaOne Offer, we are delighted to take the lead in offering the best value for US to India calling. Our tariff at 1 cent per minute is a compelling customer proposition and is in line with Airtel's commitment to make calling to India more affordable," Airtel executive director Syed Safawi said.
"Through this offer, we are looking at delivering unmatched value to the three million strong NRI population in the U.S., who reach out to their friends and family in India," he added.
Airtel has also launched a number of new features for its US consumers, including auto recharge, free SMS from the web and audio conferencing facilities.
Airtel subscribers can buy this calling card for $10 by logging on to the company's website.
New Delhi: Telecom service provider Bharti Airtel Wednesday launched a new offer for its U.S. customers which will enable them to make calls to India at 1 cent per minute using online calling cards.
"With our IndiaOne Offer, we are delighted to take the lead in offering the best value for US to India calling. Our tariff at 1 cent per minute is a compelling customer proposition and is in line with Airtel's commitment to make calling to India more affordable," Airtel executive director Syed Safawi said.
"Through this offer, we are looking at delivering unmatched value to the three million strong NRI population in the U.S., who reach out to their friends and family in India," he added.
Airtel has also launched a number of new features for its US consumers, including auto recharge, free SMS from the web and audio conferencing facilities.
Airtel subscribers can buy this calling card for $10 by logging on to the company's website.
Techies now happy to work for small firms
http://www.siliconindia.com/shownews/Techies_now_happy_to_work_for_small_firms-nid-54954.html/1/1
California: Despite the widely held perception that SMEs are most vulnerable during the recessionary setbacks, the attraction of working for a small company has not been diminished for technical staff, reported Microscope.
Figures available with the IT Job Board shows that 60 percent of technical staff think small firms are vulnerable in the current economy, but 53 percent said that it had not kept them away from applying for roles in smaller companies.
Alex Farrell, managing director of The IT Job Board, said that there was still an open mind from technical applicants which was encouraging.
Of course, some are avoiding seeking work at smaller outfits but the proportion is not as high as might have been expected.
"Techies certainly seem to think that small companies are suffering more in the current climate. However, it is good to see that this hasn't affected the choices many would make in the size of organization they would work for," Farrell said, adding, "Bigger companies seem to have more draw when it comes to training and salary benefits. But, small organisations still have their place, and it is encouraging to see that techies relish jobs in IT that offer more challenging work."
California: Despite the widely held perception that SMEs are most vulnerable during the recessionary setbacks, the attraction of working for a small company has not been diminished for technical staff, reported Microscope.
Figures available with the IT Job Board shows that 60 percent of technical staff think small firms are vulnerable in the current economy, but 53 percent said that it had not kept them away from applying for roles in smaller companies.
Alex Farrell, managing director of The IT Job Board, said that there was still an open mind from technical applicants which was encouraging.
Of course, some are avoiding seeking work at smaller outfits but the proportion is not as high as might have been expected.
"Techies certainly seem to think that small companies are suffering more in the current climate. However, it is good to see that this hasn't affected the choices many would make in the size of organization they would work for," Farrell said, adding, "Bigger companies seem to have more draw when it comes to training and salary benefits. But, small organisations still have their place, and it is encouraging to see that techies relish jobs in IT that offer more challenging work."
India to launch spy satellite to fight terrorism
http://www.siliconindia.com/shownews/India_to_launch_spy_satellite_to_fight_terrorism-nid-55005.html/1/1
New Delhi: Brimming with terror threats, India aims to launch a spy satellite to control infiltration and terrorist operations. The satellite to be launched by Indian Space Research Organisation (ISRO) would primarily keep an eye on India's borders round-the-clock.
The 300-kg radar-imaging spy satellite, which is built by Israel, will be launched on April 20. It is set to blast-off with India's home-grown rocket 'Polar Satellite Launch Vehicle (PSLV) onboard'. "The satellite will be positioned 550 km above the earth, this remote-sensing advanced imaging satellite, has all-weather capabilities, including under cloud cover, a capability that Indian satellites do not have," an anonymous ISRO official told PTI. He also pinpoints that the satellite also has good application in the area of disaster management and in managing cyclones, floods and agriculture-related activities.
The spy satellite, which will primarily be used for used for defense and surveillance, would carry Synthetic Aperture Radar (SAR) payload, which can take images during day and night.
New Delhi: Brimming with terror threats, India aims to launch a spy satellite to control infiltration and terrorist operations. The satellite to be launched by Indian Space Research Organisation (ISRO) would primarily keep an eye on India's borders round-the-clock.
The 300-kg radar-imaging spy satellite, which is built by Israel, will be launched on April 20. It is set to blast-off with India's home-grown rocket 'Polar Satellite Launch Vehicle (PSLV) onboard'. "The satellite will be positioned 550 km above the earth, this remote-sensing advanced imaging satellite, has all-weather capabilities, including under cloud cover, a capability that Indian satellites do not have," an anonymous ISRO official told PTI. He also pinpoints that the satellite also has good application in the area of disaster management and in managing cyclones, floods and agriculture-related activities.
The spy satellite, which will primarily be used for used for defense and surveillance, would carry Synthetic Aperture Radar (SAR) payload, which can take images during day and night.
47 Indian firms in Forbes Global 2000 List
http://www.siliconindia.com/shownews/47_Indian_firms_in_Forbes_Global_2000_List-nid-55030.html/1/1
Washington: With $34 billion in sales from its oil and gas operations, Reliance Industries tops 47 Indian companies that figure in the Forbes list of the world's biggest 2,000 companies.
Ranked 121st, Mukesh Ambani-led Reliance also makes it to the list of top 200 companies with two other Indian entities, State Bank of India (150) and Oil and Natural Gas Corporation (152), in the list compiled by the US business magazine.
However, five Indian companies - scam-hit IT firm Satyam, realty firm Unitech, Suzlon Energy and two Anil Ambani group firms - Reliance Power and Reliance Capital - have been dropped from the Forbes 'Global 2000 List' this year.
Four Indian companies - Hero Honda Motors, Sun Pharma, Indian Bank and Jindal Steel and Power Ltd - are the new entrants to the list.
The top 10 Indian companies are: Reliance Industries (121), State Bank of India Group (150) Oil & Natural Gas Corporation (152) Indian Oil Corporation (207) NTPC (317), ICICI Bank (329), Tata Steel (463), Bharti Airtel (508), Steel Authority of India (582) and Reliance Communications (689).
"This year's list reveals the dynamism of global business," Forbes said, noting the rankings span 62 countries, with the US still dominant at 551 members, but 200 fewer than in 2004, when Forbes first published the global list.
This year, China has 91 members, south Korea 61, and India 47. Even Kazakhstan is now a Global 2000 member. Also gaining a significant presence on the Forbes list are corporations from Arab countries: Kuwait, Saudi Arabia and the United Arab Emirates each have at least 10 entries on this year's list.
In total, the Global 2000 companies now account for $32 trillion in revenues, $1.6 trillion in profits, $125 trillion in assets and $20 trillion in market value.
"The Global 2000 continues to amass revenue and assets, but lately, that has not translated into wealth creation or profits," the magazine said. In the past year, combined profits were down 31 percent while market value was down 49 percent.
Forbes said an analysis of the Global 2000 shows that despite the turmoil in the banking industry, banks still dominate, with 307 companies in the 2000 lineup, thanks in large measure to their asset totals.
The oil and gas industry, with 126 companies, scores high in sales, profits and stock-market value, yet these sectors were not the leaders in growth over the past year.
Drug and biotech companies (up 59 percent) led all sectors in sales growth, while the leaders in profit growth were telecom service firms (up 51 percent).
Washington: With $34 billion in sales from its oil and gas operations, Reliance Industries tops 47 Indian companies that figure in the Forbes list of the world's biggest 2,000 companies.
Ranked 121st, Mukesh Ambani-led Reliance also makes it to the list of top 200 companies with two other Indian entities, State Bank of India (150) and Oil and Natural Gas Corporation (152), in the list compiled by the US business magazine.
However, five Indian companies - scam-hit IT firm Satyam, realty firm Unitech, Suzlon Energy and two Anil Ambani group firms - Reliance Power and Reliance Capital - have been dropped from the Forbes 'Global 2000 List' this year.
Four Indian companies - Hero Honda Motors, Sun Pharma, Indian Bank and Jindal Steel and Power Ltd - are the new entrants to the list.
The top 10 Indian companies are: Reliance Industries (121), State Bank of India Group (150) Oil & Natural Gas Corporation (152) Indian Oil Corporation (207) NTPC (317), ICICI Bank (329), Tata Steel (463), Bharti Airtel (508), Steel Authority of India (582) and Reliance Communications (689).
"This year's list reveals the dynamism of global business," Forbes said, noting the rankings span 62 countries, with the US still dominant at 551 members, but 200 fewer than in 2004, when Forbes first published the global list.
This year, China has 91 members, south Korea 61, and India 47. Even Kazakhstan is now a Global 2000 member. Also gaining a significant presence on the Forbes list are corporations from Arab countries: Kuwait, Saudi Arabia and the United Arab Emirates each have at least 10 entries on this year's list.
In total, the Global 2000 companies now account for $32 trillion in revenues, $1.6 trillion in profits, $125 trillion in assets and $20 trillion in market value.
"The Global 2000 continues to amass revenue and assets, but lately, that has not translated into wealth creation or profits," the magazine said. In the past year, combined profits were down 31 percent while market value was down 49 percent.
Forbes said an analysis of the Global 2000 shows that despite the turmoil in the banking industry, banks still dominate, with 307 companies in the 2000 lineup, thanks in large measure to their asset totals.
The oil and gas industry, with 126 companies, scores high in sales, profits and stock-market value, yet these sectors were not the leaders in growth over the past year.
Drug and biotech companies (up 59 percent) led all sectors in sales growth, while the leaders in profit growth were telecom service firms (up 51 percent).
H-1B visa filing drops by 50 percent
New Delhi: The protectionist measures and the economic slump in the U.S. have hit the demand for the H -1B visas as the U.S. Citizen and Immigration Council (USCIS) is yet to reach the targeted cap of 65,000 petitions for fiscal 2010. The council has received around 42,000 applications, which is just 'about half' the applications it needs for the quota to be filled.
"The visa cap has not been met yet as there is not enough business in the U.S. The visa update also validates our argument that H-1Bs are not being used to replace American workers, because if that was so, companies would have flocked to file petitions amid lay-offs in the US. That has not happened," said Nasscom President, Som Mittal told Business Line. The Indian firms, which had filed around 11,000 visas last year have opted for less applications this year.
Poorvi Chothani, a U.S. immigration attorney based in Mumbai, admits her firm has seen a 50 percent drop in H-1B filings this time. "Besides the fact that the basic demand is less, other factors such as a possible fear of a backlash in employing foreign professionals, and Troubled Assets Relief Program (TARP) curbs are likely to have influenced the filings," she said. The USCIS maintained that due to the lowered rate of filing, it will continue accepting petitions till it receives the required number of petitions to meet the respective caps.
"The visa cap has not been met yet as there is not enough business in the U.S. The visa update also validates our argument that H-1Bs are not being used to replace American workers, because if that was so, companies would have flocked to file petitions amid lay-offs in the US. That has not happened," said Nasscom President, Som Mittal told Business Line. The Indian firms, which had filed around 11,000 visas last year have opted for less applications this year.
Poorvi Chothani, a U.S. immigration attorney based in Mumbai, admits her firm has seen a 50 percent drop in H-1B filings this time. "Besides the fact that the basic demand is less, other factors such as a possible fear of a backlash in employing foreign professionals, and Troubled Assets Relief Program (TARP) curbs are likely to have influenced the filings," she said. The USCIS maintained that due to the lowered rate of filing, it will continue accepting petitions till it receives the required number of petitions to meet the respective caps.
'Satyam still among top five IT firms in India'
New Delhi: Despite the unpleasant developments within the organization that led to a complete restructuring of top management, Satyam Computers could retain its position among India's top five software service providers, says a Senior official of Ministry of Corporate Affairs (MCA).
"The employee strength of Satyam was around 50,000, even three months after its founder, B Ramalinga Raju, confessed to manipulating the books of accounts," the official told Business Standard, on condition of anonymity.
The official pointed out that Satyam continues to have strong revenues. The difference between its turnover and the next highest is around 10-15 per cent.
According to the available data, HCL Technologies, which was the fifth-largest IT firm before the scam-hit Satyam, recorded a revenue of Rs 4,860 crore in the July-December. So, 10-15 per cent less than HCL means Satyam's turnover is Rs 4,100-4,400 crore. At this turnover, Satyam's top line has dipped by only 1-7 percent compared with the year-ago period (July-December 2007).
Meanwhile, Tech Mahindra, which is looking to pick up stake in Satyam is a distant sixth, with a turnover of only Rs 2,297 crore in the six months ended December 2008.
After the government-nominated directors took control of the board of Satyam, two audit firms - KPMG and Deloitte - were asked to restate the accounts of the company. While the two audit firms are expected to take six months for the job, the companies that have evinced interest in picking up a stake in Satyam are being given restated accounts for six months ended December 2008.
However, the restated accounts are not available for January-March 2009, the critical period after Raju's confession and the government taking control of the company. The official said Satyam had performed well in January and February by operating without taking bank loans, adding that client churn rate was not abnormal.
"The employee strength of Satyam was around 50,000, even three months after its founder, B Ramalinga Raju, confessed to manipulating the books of accounts," the official told Business Standard, on condition of anonymity.
The official pointed out that Satyam continues to have strong revenues. The difference between its turnover and the next highest is around 10-15 per cent.
According to the available data, HCL Technologies, which was the fifth-largest IT firm before the scam-hit Satyam, recorded a revenue of Rs 4,860 crore in the July-December. So, 10-15 per cent less than HCL means Satyam's turnover is Rs 4,100-4,400 crore. At this turnover, Satyam's top line has dipped by only 1-7 percent compared with the year-ago period (July-December 2007).
Meanwhile, Tech Mahindra, which is looking to pick up stake in Satyam is a distant sixth, with a turnover of only Rs 2,297 crore in the six months ended December 2008.
After the government-nominated directors took control of the board of Satyam, two audit firms - KPMG and Deloitte - were asked to restate the accounts of the company. While the two audit firms are expected to take six months for the job, the companies that have evinced interest in picking up a stake in Satyam are being given restated accounts for six months ended December 2008.
However, the restated accounts are not available for January-March 2009, the critical period after Raju's confession and the government taking control of the company. The official said Satyam had performed well in January and February by operating without taking bank loans, adding that client churn rate was not abnormal.
The flip side of Nano - Watch out 10 possible drawbacks of Nano.....
The flip side of Nano
The Nano car, designed to be affordable for millions of middle-class Indians who currently travel on two wheels, often with the whole family on board, has been stripped down to its bare essentials. That means one windscreen wiper, a single, centrally-mounted speedometer on the dashboard, only a driver's side wing mirror and a solitary right-hand switch for the indicators and lights.
Watch out 10 possible drawbacks of Nano.....
The Nano car, designed to be affordable for millions of middle-class Indians who currently travel on two wheels, often with the whole family on board, has been stripped down to its bare essentials. That means one windscreen wiper, a single, centrally-mounted speedometer on the dashboard, only a driver's side wing mirror and a solitary right-hand switch for the indicators and lights.
Watch out 10 possible drawbacks of Nano.....
- Single windscreen wiper
As it has single windscreen wiper, speed of the car will be compromised during rains.
- No easy access to engine bay
To top up the radiator, you will need to unscrew six butterfly nuts and lift off the engine cover — which restricts easy access to the engine bay.
- Sun visor
Even the mirror on the front passenger seat sun visor has been sacrificed while the steering wheel is little bigger than an oversized dinner plate at a trendy London gastropub.
- Different specifications of tyres
The tubeless tyres used in Nano have different specifications for rear and front end. So, the speed of the car at any turning point needs to be very slow.
- Stepney problem
In case the front tyre punctures, you can replace it with the stepney provided, but in case of a rear tyre puncture, there is no stepney of that tyre. However, stepney of the front tyre can be used for some time at rear end during emergency.
- Some extra efforts
Some extra efforts: You will need to open the bonnet every time you travel to a gas station.
- Flat seats
Only driver's seat is adjustable and reclining. Four adults can sit comfortably in the simple and spartan interior. But the seats are thin and flat.
- Only driver's side wing mirror
It has only a driver's side wing mirror and there is no point given to fix one if a person would wish to install it.
- Spare parts
Since it is the newest species, spare parts of the Nano will be available only in Tata authorised service stations.
- Base model lacks features
The base model lacks features like central locking, air conditioning and fog light.
75,000 more jobs likely to be lost in Indian IT in two years
Mumbai: Close to 75,000 more jobs are likely to be lost in the Indian IT industry this year, according to senior executives of leading software companies, reported The Economic Times.
Infosys board member TV Mohandas Pai estimated that close to 30,000 IT professionals, earning an average salary of Rs 5 lakh per annum, would have lost their jobs between April 2008 and March 2009 in Bangalore. Pai also said that an additional 25,000-30, 000 jobs may be lost in Bangalore alone for fiscal year 2009-2010. "These job losses are due to the fact that many companies have shed excess capacity as the growth rates of industries have decreased. It is possible that a fair number of these people would have found jobs in other industries too during this time at a lesser salary," he said.
Due to the new steps taken by the U.S. president Barrack Obama to deal with outsourcing to India, some technocrats has estimated the extent of possible job-losses in India at about 50,000 in the first half of thisyear itself. These job losses would be across sectors such as IT, ITeS and BPO, they added.
But next year, about 50,000 jobs could be at risk, thinks Ravi Ramu, CFO of realty firm Puravankara and former CFO of Mphasis. What worries him more is the spin off effect that will see a lot more losses. "Every direct job in the BPO is supported by 6 indirect jobs. In reality, the spin-off will be even more negative," he said.
Though IT bigwigs are concerned about the high rate job loss, IT lobbying body Nasscom doesn't think so. According to Nasscom president Som Mittal, earlier the retrenchment was not on such a large scale as attrition was high.
Infosys board member TV Mohandas Pai estimated that close to 30,000 IT professionals, earning an average salary of Rs 5 lakh per annum, would have lost their jobs between April 2008 and March 2009 in Bangalore. Pai also said that an additional 25,000-30, 000 jobs may be lost in Bangalore alone for fiscal year 2009-2010. "These job losses are due to the fact that many companies have shed excess capacity as the growth rates of industries have decreased. It is possible that a fair number of these people would have found jobs in other industries too during this time at a lesser salary," he said.
Due to the new steps taken by the U.S. president Barrack Obama to deal with outsourcing to India, some technocrats has estimated the extent of possible job-losses in India at about 50,000 in the first half of thisyear itself. These job losses would be across sectors such as IT, ITeS and BPO, they added.
But next year, about 50,000 jobs could be at risk, thinks Ravi Ramu, CFO of realty firm Puravankara and former CFO of Mphasis. What worries him more is the spin off effect that will see a lot more losses. "Every direct job in the BPO is supported by 6 indirect jobs. In reality, the spin-off will be even more negative," he said.
Though IT bigwigs are concerned about the high rate job loss, IT lobbying body Nasscom doesn't think so. According to Nasscom president Som Mittal, earlier the retrenchment was not on such a large scale as attrition was high.
India may see 75, 000 IT job cuts this year
MUMBAI: The Indian IT industry, already under pressure since the downturn began in the US financial, banking and insurance markets last year, is likely to see close to 75,000 job losses this year, according to senior executives of leading software companies.
US president Barrack Obama's policy on outsourcing had prompted some technocrats to estimate the extent of possible job losses in India at about 50,000 jobs in the first half of the new year itself. These job losses would be across sectors such as IT, ITeS and BPO, they added.
"As on March 31, 2008 there were 550,000 direct jobs created by the IT industry in Bangalore," said Infosys board member TV Mohandas Pai. "I would estimate close to 30,000 IT professionals, earning an average salary of Rs 5 lakh per annum, would have lost their jobs between April 2008 and March 2009 in Bangalore."
Mr Pai also said that for fiscal year 2009-2010, an additional 25,000-30, 000 jobs may be lost in Bangalore alone. "These job losses are due to the fact that many companies have shed excess capacity as the growth rates of industries have decreased. It is possible that a fair number of these people would have found jobs in other industries too during this time at a lesser salary," he added.
Mr Ravi Ramu, CFO of realty firm Puravankara and former CFO of Mphasis says about 50,000 jobs could be at risk next year. However, what worries him more is the spin off effect that will see a lot more losses. "Every direct job in the BPO is supported by 6 indirect jobs. In reality, the spin-off will be even more negative." Even though, IT bigwigs are concerned about the high rate job loss, IT lobbying body Nasscom, doesn't think so.
According to Nasscom president Som Mittal, earlier the retrenchment was not on such a large scale as attrition was high. "Companies are stressing more on performance issues in these times as they want to increase productivity. The coming times are uncertain and people are not hiring in large numbers as before. There is already a wage moderation that is happening across the industry and this will definitely reflect on the spending," he told ET.
US president Barrack Obama's policy on outsourcing had prompted some technocrats to estimate the extent of possible job losses in India at about 50,000 jobs in the first half of the new year itself. These job losses would be across sectors such as IT, ITeS and BPO, they added.
"As on March 31, 2008 there were 550,000 direct jobs created by the IT industry in Bangalore," said Infosys board member TV Mohandas Pai. "I would estimate close to 30,000 IT professionals, earning an average salary of Rs 5 lakh per annum, would have lost their jobs between April 2008 and March 2009 in Bangalore."
Mr Pai also said that for fiscal year 2009-2010, an additional 25,000-30, 000 jobs may be lost in Bangalore alone. "These job losses are due to the fact that many companies have shed excess capacity as the growth rates of industries have decreased. It is possible that a fair number of these people would have found jobs in other industries too during this time at a lesser salary," he added.
Mr Ravi Ramu, CFO of realty firm Puravankara and former CFO of Mphasis says about 50,000 jobs could be at risk next year. However, what worries him more is the spin off effect that will see a lot more losses. "Every direct job in the BPO is supported by 6 indirect jobs. In reality, the spin-off will be even more negative." Even though, IT bigwigs are concerned about the high rate job loss, IT lobbying body Nasscom, doesn't think so.
According to Nasscom president Som Mittal, earlier the retrenchment was not on such a large scale as attrition was high. "Companies are stressing more on performance issues in these times as they want to increase productivity. The coming times are uncertain and people are not hiring in large numbers as before. There is already a wage moderation that is happening across the industry and this will definitely reflect on the spending," he told ET.
Wednesday, April 8, 2009
Valued exposure: Top dog
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Ada Lovelace - World's First Computer Programmer.
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Quote of the Day..
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Friday, April 3, 2009
IPL Season II - Schedule, teams and players, in South Africa
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