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Old 27th February 2009, 23:28   #211
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Oh man, sorry to hear that kp. I hope things start looking brighter soon .
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Old 28th February 2009, 00:11   #212
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3 months Sal pending from Nov 08. But work has increased because of layoffs. Dont know what to do ?

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Old 1st March 2009, 20:11   #213
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Sad news KP.... Things are getting a little serious in India also now...
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Old 2nd March 2009, 13:40   #214
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Quote:
Originally Posted by mmmjgm View Post
Dude look at the bright side, you have a job !

Cheers
You bet I'm happy that I have a job, but for how long is my question?. Me being in the travel domain which is one of the worst hit in terms of technology, bizz, inbound & outbound tourism..I'm really in a situation where I don't know whether i would have a JOB tomorrow..thats how we are..

But again so far so good..

Last edited by Technocrat : 5th March 2009 at 15:38. Reason: Spliting Post across two threads
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Old 2nd March 2009, 17:03   #215
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3 months Sal pending from Nov 08. But work has increased because of layoffs. Dont know what to do ?
All the best nithin. Hope you get your salary soon man. This is getting scarier by the day.
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Old 2nd March 2009, 21:39   #216
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Originally Posted by diabloo View Post
Sapient lays off 300 employees in India
Sapient ferry their employees in AC-Video coach buses, and was the best employer couple of years back. Economy spares none.
dejavu...I was with Sapient (Fresh out of College) in 2002 and they did something similar in May-June '02 - around 300 ppl laid off post 9-11. Some of my friends were on the bench and didn't know what hit them - they had no chance to prove their skills.

A security guard and a HR rep come by the unfortunate person's desk, give half an hour for packing up personal stuff; papers are signed, a 3 month salary is deposited and the guard escorts the person out of the door.

When Business Today named Sapient as amongst some top 2-3 'companies to work for' in 2003 or 04, I burst out laughing!

(Speaking for myself, I was totally intrigued to know more about economics/finance/marketing post seeing that carnage at Sapient, did my MBA in 2003)

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Originally Posted by arpandiv View Post
You want to see effect of recession - come visit a B school .
yes arpandiv..scary.

ISB: some 125 out of a batch of 460 odd placed. Might just about touch 195 odd by April end. Paying 12-15 lacs for a 1 year MBA and with most of them leaving good, stable careers, I can only deeply empathize.

IIM B - last week, they had Day Zero. ~12 students placed. 8/9 companies backed out. My boss, who had represented my company, said it was carnage on campus - lots of real tears.

damn...it could so easily have been us.

Last edited by Rehaan : 4th March 2009 at 14:55. Reason: Posts merged. Please use the MULTIQUOTE button instead of making multiple consecutive posts in the same thread. Thanks.
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Old 4th March 2009, 05:25   #217
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See how many recessions the singer has passed, its a simple job of reinventing ourselves.

I accumulate during the good times and dispose during the tight times, the same philosophy as our pet animals, eat when plenty, slog when scarce, more than that i'm reiterating REINVENT, the old ways are gone for the next five years atleast, i can't say this for everyone here as I am not in the same industry, if IT/BPO yes I can help, however this comes at a professional cost due to time and effort, and such is out of the realm of this forum :-)

Cheers
M M

Last edited by mmmjgm : 4th March 2009 at 05:40.
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Old 9th March 2009, 17:27   #218
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Default One reason for the seemingly cruel employee-relieving methods...

Here is one reason companies enforce harsh processes and methods while letting its employees go these days. I personally know ex-colleagues who were pretty vocal on hearing on their termination.

(PS: I'm not justifying the methods used by companies. I personally think there should be a better way of letting people go than shutting them out at the gate. But there are huge legal risks faced by companies as mentioned in the article.)

Source: Economic Times

MUMBAI: Sameer Agarwal, 27-year-old trader with a top multinational bank is blogging on his bank’s research data used for its trades. But he
could soon be facing a law suit for disseminating confidential information. Several organisations are now tackling loss of trade secrets and other critical company information from disgruntled employees, says security firm McAfee.

“As more and more people are being asked to leave in a downturn, the risk of intellectual property loss has never been greater. This trend is seen the most in the banking and finical services sector followed by manufacturing,” said McAfee APAC director Michael Sentonas. Corporates are obviously concerned over the misuse of such data loss, especially by competition.

While most employees use internet platforms like blogs, twitter, facebook and other web 2.0 applications to share information, organisations are now being advised to monitor the workstations of employees. “They should regulate the data that is uploaded by each employee on portals outside of their work capacity. Companies should also encrypt their confidential data to prevent any policy violations,” said Mr Sentonas. If an employee is caught of any wrongful act, he can face legal action initiated by his employer.

However, there are no stringent Indian laws to prevent such data theft. “Trade secrets are protected by contract and are not statutory in India. Any bank data like credit card details, trade secrets are all confidential information and the company can only have a contractual remedy against it,” said Vinay Aravind, an IP lawyer with Chennai-based law firm Poovayya & Co. The research used by banks to do trades is the property of the bank and not individuals who have worked on the project. “This is a case of trade violation” Mr Aravind said.

It would also help if the employees understand what information they can use outside of the organisation. “The weakest link in any technology solution is people and they are harder to track down. Organisations must work with their employees to differentiate between public and private information,” said Gartner research director Andrew Walls.
In the absence of an iron clad contract, copyright infringement is another legal action the employee could be faced with. “If a substantial portion of a document is reproduced verbatim, it is a copyright violation. But if an employee discusses only the concept in public, it is not a breach as copyright protects the expression and not the idea,” said Mr Aravind.
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Old 9th March 2009, 19:39   #219
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Originally Posted by d_himan View Post


yes arpandiv..scary.

ISB: some 125 out of a batch of 460 odd placed. Might just about touch 195 odd by April end. Paying 12-15 lacs for a 1 year MBA and with most of them leaving good, stable careers, I can only deeply empathize.

IIM B - last week, they had Day Zero. ~12 students placed. 8/9 companies backed out. My boss, who had represented my company, said it was carnage on campus - lots of real tears.

damn...it could so easily have been us.
Yes but overall it is not a bad thing , 8 - 9% GDP growth had increased aspirations in an unsustainable manner.
B-Schools are minting money , I see no reason why ISB and IIMs should go on increasing fees every year. No one has checked the reality behind tall claims that it takes so many lakhs to provide good B-Education. Couple this with ever increasing number of seats and new courses for executive education ( read milking) and business model becomes clear.

Now all claims of ROI going for toss at least the private B-Schools need to do a reality check.

Yes I can see people baying for my blood now :-)

Last edited by amitk26 : 9th March 2009 at 19:40.
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Old 10th March 2009, 03:49   #220
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Things are really going from bad to worse. I work for the third largest Indian IT services company,many are asked to leave with out much notice. Ppl at overseas are asked to go back to India and if they are not able to find a project, they are asked to leave immediately !
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Old 10th March 2009, 10:26   #221
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Originally Posted by Superleggera View Post
Things are really going from bad to worse. I work for the third largest Indian IT services company,many are asked to leave with out much notice. Ppl at overseas are asked to go back to India and if they are not able to find a project, they are asked to leave immediately !
I addressed one seminar on open source and people listened more intently .
There were no objections/murmurs to usual service industry bashing while products and technology in Indian context were being discussed. Looks mood was sober and attendees were willing to listen some other point of view rather then usual talk of Service Industry poster boys.
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Old 10th March 2009, 18:32   #222
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I read in the papers today that TCS is firing 1300 employees apart from revising its bus fares to 2500 bucks per month. By the way things are going, I am of the opinion that my co might follow suit. So, if that happens, I wonder if it might be better to invest in a cheap(ish) car instead ?

PS : Wrong sort of question to ask in a car forum ? :P
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Old 10th March 2009, 19:01   #223
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Quote:
Originally Posted by sajo View Post
I read in the papers today that TCS is firing 1300 employees apart from revising its bus fares to 2500 bucks per month. By the way things are going, I am of the opinion that my co might follow suit. So, if that happens, I wonder if it might be better to invest in a cheap(ish) car instead ?

PS : Wrong sort of question to ask in a car forum ? :P
A correct question, the right forum, wrong thread. You can put your question in the What car thread, with a budget.

Cheers
M
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Old 10th March 2009, 19:11   #224
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In these gloomy times, my organisation seems to be an exception. Not only have there been no layoffs (atleast till now, touchwood), many employees have got a really GOOD raise ranging from 35% to even 100%. Yes, some engineers have had their salary double. You should have seen the faces of the guys when they got their papers. Priceless.

Ofcourse, the raise happened only at the lower individual contributor level and managers have had either no raise or maybe a measly 3-5 % raise. But like someone said on this thread, I am happy I have a job - lack of raise be damned.
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Old 10th March 2009, 19:23   #225
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Quote:
Originally Posted by mmmjgm View Post
A correct question, the right forum, wrong thread. You can put your question in the What car thread, with a budget.

Cheers
M
Know that mmmjgm.. Just wanted to highlight the lengths companies are going to cut costs.
Things are so bad here, that after 8pm and on holidays (like today) ,they close down half the washrooms in the building, to save on water bills and electricity I guess.
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