LayoffBlog.com

April 16, 2009

If your job moves to India, follow it

Filed under: IBM,India — 7macaw @ 6:37 am
Tags: , , ,

IBM’s Project Match, would allow laid-off US and Canadian workers to apply for IBM jobs in India and other low-cost countries and would help them with visas and moving costs.

If hired by IBM in a foreign country, employees would work under that country’s terms and conditions, which would mean they would earn a much lower wage than in the United States.

Source: EDN.com

March 25, 2009

IBM Cutting More Jobs, Shifting Work to India

Weeks after slashing nearly 5,000 jobs, IBM is expected to shift the work of a large number of U.S. workers to IBM employees working in India, the latest example of a successful company that is continuing to slash costs and take advantage of cheap Asian labor, WSJ reported.

Source: WSJ, Fox Business News

Update (March, 25, 2009): IBM to cut 5,000 jobs in U.S: According to Reuters: “The job cuts will account for over 4 percent of IBM’s U.S. workforce, which totaled around 115,000 at the end of 2008. The sources, who were not authorized to speak publicly on the issue, said the cuts will mostly be in IBM’s global services business, which includes outsourcing and consulting services.”

BusinessWeek also reports (“IBM Cuts Jobs As It Seeks Stimulus Money“): “..the company would be cutting high-skill positions domestically as it and others jockey for new business from the $787 billion stimulus package Congress enacted in February”

February 27, 2009

Indian Firms, Microsoft Top H-1B List

Indian outsourcers, along with Microsoft and Google, again lead the list of companies bringing foreign workers to the U.S. on the H-1B visa program.

According to U.S. Citizenship & Immigration Service (USCIS), Four India-based companies topped the list:

Infosys Technologies (INFY, India): 4,559 H-1B visas approved in 2008, 4,559 in 2007
Wipro (WIT, India): 2,678 H-1B visas approved in 2008; 2,567 in 2007
Satyam (SAY, India): 1,917 H-1B visas approved in 2008; 1,396 in 2007
Tata (TCS.BO, India): 1,539 H-1B visas approved in 2008; 797 in 2007
Microsoft (NASDAQ:MSFT): 1,018 H-1B visas approved in 2008; 959 in 2007
Google (NASDAQ:GOOG): 248 H-1B visas approved in 2008
Lehman Brothers: 130 H-1B visas approved in 2008

In fiscal year 2007, six of the top 10 visa recipients were based in India; two others among the top 10, Cognizant Technology Solutions (CTSH) and UST Global, are headquartered in the U.S. but have most of their operations in India, according to BusinessWeek

  • The H-1B program, which started in 1990, was set up to allow U.S. companies to import the best and brightest in technology, engineering, and other fields when such workers are in short supply domestically.
  • The H-1B visa program is currently capped at 65,000 per year, with another 20,000 set aside for advanced-degree graduates of U.S. universities.

USCIS will begin taking H-1B applications for the next fiscal year on April 1 and will distribute the new visas on Oct. 1.

Source: U.S. Citizenship & Immigration Service (USCIS)

February 10, 2009

China’s January Exports Fall 17.5%, Most Since 1996

According to Bloomberg: “China’s exports fell by the most in almost 13 years as demand dried up in the U.S. and Europe, worsening the outlook for jobs and industrial production in the world’s third-biggest economy.”

China’s economic slide has already cost the jobs of 20 million migrant workers, adding pressure on the government to boost consumption and expand a 4 trillion yuan ($585 billion) stimulus package. Government researchers have advocated weakening the yuan against the dollar to support exports, a move that could add to trade tensions amid the worst financial crisis since World War II.”

Imports declined 43.1 percent in January from a year earlier, the biggest decline since Bloomberg data began in 1995, on the nation’s waning demand for raw materials for manufacturing and lower commodity prices.”

“China’s industrial output grew 5.7 percent in December, down from 17.4 percent a year earlier.”

“Taiwan’s shipments to the mainland slumped 64 percent in January because of weaker demand for electronic components.”

“Philippine shipments to China fell 58 percent.

“India imposed a six-month ban on imports of Chinese toys last month, citing health concerns.”

UAL to move some jobs back from India to U.S.

Filed under: aviation,India,US — DF @ 5:03 pm
Tags: , ,

According to Reuters, CNBC: “UAL Corp, parent of United Airlines, said on Tuesday it will fill 165 customer relations jobs — previously outsourced to India — in the United States. The move runs counter to the trend among U.S. companies of sending jobs overseas to save money.”

“The jobs will be located in Chicago and Hawaii. UAL, which cut 7,000 jobs last year and plans to cut 1,000 more this year, said the customer relations work outsourced to India a few years ago has been done by contractors.”

~News submitted by upthecreek

Vishay posts loss, sees job cuts

According to Reuters: “Chipmaker Vishay Intertechnology Inc (VSH.N) posted a fourth-quarter loss, said it was evaluating additional plant closures and expects more job cuts, sending shares to their lowest in over 18 years.

The company, which has already reduced close to 9 percent of its workforce in the fourth quarter, said it had laid off 700 more employees in January.”

  • The company employs about 27,900 people across its operations in United States, Europe and Asia.

February 9, 2009

Yet Another Scandal for ‘India’s Enron’ (Satyam Computer Services)

According to FoxNews: “Satyam Computer Services Ltd., the Indian tech giant at the center of a $1 billion executive fraud and a World Bank ethics scandal, is involved in yet another kind of debacle — this time at the United Nations’ public health arm, the World Health Organization (WHO).

At issue is Satyam’s role in the development of a $55.5 million global business management system for WHO, which was slated to become the master control for staffing, financial payments and procurement by the organization by an initial deadline of September 2007.

That deadline has long since passed, and instead, according to documents obtained by FOX News, the project is far behind schedule, wallowing in glitches that have deeply affected WHO operations, and, despite management claims to the contrary, likely to end up far exceeding its budget.

Moreover, according to the documents, in the push to get at least part of the system up and running by last summer, Satyam ignored the instructions of the software’s manufacturer, Oracle, for implementing the complex system; ran user tests that validated the system without “being able to replicate a real-life situation,” provided little or no training to WHO employees; and failed to adequately involve health care professionals who see the system as a vital tool, among a host of other failings.”

20,000 Indian workers to be flown out of UAE

Tens of thousands of Indian construction workers are being flown out of the United Arab Emirates by their employers on bulk-booked flights in March, it was reported on Sunday.

According to figures gleaned by the Indian Consulate in Dubai from Indian airlines, a total of 20,000 workers from several construction firms are leaving next month.

They are either being sent back home on long leave, or are being redeployed to work on projects in other Gulf countries, such as Qatar, according to a report in UAE daily Emirates Business.

Source: ArabianBusiness.com

Layoffs to continue in India.

Filed under: India,worldwide — 7macaw @ 7:05 am
Tags: , , ,

In an indication that the global layoff wave has hit the Indian shores, global financial services major Citigroup believes that jobless numbers in the country could climb in the coming months.

According to a latest report by Citigroup, the country does not appear to have remain unscathed from the massive layoffs witnessed worldwide and unemployment could rise further with home coming of migrant workers.

India’s unemployment rate is officially at 8.2% but the point worth noticing is that disguised employment exists in developing economies, the report also said.

Source: LiveMint.com

February 5, 2009

500,000 jobs lost in three months in India

The global meltdown and the consequent slowdown in the Indian economy took 5 lakh [500,000] workers off factory floors in the last three months of 2008, the labor bureau announced today after a study that covered 2,581 units.

The study reveals that between October and December last year, 5 lakh workers have lost jobs in sectors like textile and garment, metals and metal products, automobiles, gems and jewelery, transportation, construction and mining industries.

However, according to the study, IT and BPO increased employment rate marginally by 0.33 per cent, which does not match popular perception. As the entire sample covered 2,581 units, the number of IT companies could not have been too high and the finding is unlikely to mirror the full picture.

Source: The Telegraph Calcutta

February 4, 2009

Cisco Systems: possible large jobs cut in 2009

According to CNNMoney: “The global economic downturn will continue to hammer computer networking giant Cisco Systems Inc., chief executive John Chambers said Wednesday.

In its current quarter, Cisco expects to see revenue decline between 15% and 20%, he said in a conference call with analysts.”

“We are not going to consider (layoffs) at this time,” chief executive John Chambers said. But he added, that if Cisco was forced to cut jobs, it would likely be a large cut of about 10% of its workforce.

  • Cisco employed 67,318 workers worldwide at the end of the second quarter.

India: Software and service exports to grow 16-17% in 2009

Filed under: H1B,India,IT,IT consulting,Technology,US — DF @ 5:48 pm
Tags: , ,

According to India Times: “IT-BPO industry association Nasscom on Wednesday said software and service exports will grow 16-17% in 2008-09 to $47 billion, lower than earlier estimates of $50 billion as the global economic slowdown dampened demand.

The association had also estimated total IT-BPO revenues to grow 21-24% in the current fiscal. As per revised estimates, the total IT soft-ware and services revenues, including domestic revenues, are poised to grow 15.3% in FY09 to $60 billion. The total IT- BPO industry, including hardware, will be worth $71.7 billion in FY09.”

India: IT vendors set to grow lean as contracts assume a fixed price

Filed under: India,IT,IT consulting,outsourcing,US — DF @ 5:35 pm
Tags: ,

According to IndiaTimes: “CHENNAI: The last quarter has seen IT service providers facing requests from clients to restructure their relationship contracts as well as statement of work. Some clients have sought a discount in pricing in return for assurance of projects for a given time period. A recent report from Zinnov management consulting has indicated that tier II vendors have had to offer 25% discount on pricing to obtain commitment from their clients through the year 2009.”

Top 20 Emerging Global Outsourcing Cities

Top 20 Emerging Global Outsourcing Cities in 2008:

1. Cebu, Philippines [Rank in 2007: 4]
2. Shanghai, China [Rank in 2007: 8]
3. Beijing, China [Rank in 2007: 10]
4. Ho Chi Minh City, Vietnam [Rank in 2007: 16]
5. Krakow, Poland [Rank in 2007: 16]
6. Kolkata, India [Rank in 2007: 5]
7. Cairo, Egypt [Rank in 2007: 11]
8. Sao Paulo, Brazil [Rank in 2007: 15]
9. Buenos Aires, Argentina [Rank in 2007: 14]
10. Shenzhen, China [Rank in 2007: 13]
11. Hanoi, Vietnam [Rank in 2007: 12]
12. Chandigarh, India [Rank in 2007: 9]
13. Curituba, Brazil [Rank in 2007: 17]
14. Prague, Czech Republic [Rank in 2007: 20]
15. Pasig City, Philippines [Rank in 2007: 23]
16. Dalian (Dairen), China [Rank in 2007: 18]
17. Coimbatore, India [Rank in 2007: 21]
18. Santiago, Chile [Rank in 2007: 19]
19. Colombo, Sri Lanka [Rank in 2007: 7]
20. Johannesburg, South Africa [Rank in 2007: 25]

Source: India Times

February 1, 2009

India needs 6,000 forensic accountants to fight corp frauds

Forensic accountants are now in a position to turn the Satyam scandal into an opportunity during tough times for getting jobs, as the country needs more than 6,000 such professionals to check corporate frauds in India.

According to the report, there are only 400 forensic accountants in the country though India loses approximately $40 billion because of frauds.

SourceL: TheHinduBusinessLine

Next Page »

Blog at WordPress.com.