[Samurai]

Originally Posted by mmmjgm

Teesra point - let's grow strong on our own. Period, at this time take a leaf out of Lebanon & Israel's book, how to prosper on a chit of a country, I am sure the combined area of Greater Mumbai & Navi Mumbai is equivalent to Israel's populated areas. Look at them, wiki is your friend. Look at their GDPs.

That's going to be tough for IT industry whose cost structure is geared based on overseas revenue. The IT salaries are very high, they can't be supported by servicing domestic industry where people still expect software to be almost free.

Originally Posted by rranjith_kum

I dont think its just enough if go to any B school but see the engineering colleges also with guys placed and then waiting for the call letters :(
Proxima : I am facing the same issue !!

This is one case which benefits small companies. Generally big companies sweep away most of the cream from good colleges by the 3rd year through campus recruitment. Since my company recruits trainees for immediate needs, we are forced to look long and hard from the leftovers. But since the past one year they are not able to place those who were selected and are letting them back into the job market. As a result we are able to hire excellent trainee candidates with relative ease since last year.

[JVH]

Our company just announced shutdowns ranging from 1-2 weeks for the next 2 quarters after having a shutdown last quarter.

Not sure what's in store this year

[mmmjgm]

Originally Posted by Samurai

That's going to be tough for IT industry whose cost structure is geared based on overseas revenue. The IT salaries are very high, they can't be supported by servicing domestic industry where people still expect software to be almost free.

Hi Samurai,

Agree with your point on a micro level specific to this industry, however, we will need to grow internally. A case study on Israel & its challenges will show that any country with the political will can survive and surmount any challenges.

What is the benefit for the IT industry is its biggest weakness, its cost structure. It's just not possible to cater to the domestic industry, (again a very deep topic in itself)

Well an engineer can be deployed in infrastructure as well. As you rightly quoted your experience, there may be such engineers who are frustrated about the vagaries of the US market and may move to robust verticals which are not affected by cyclical downturns for employment.

IT's a broader outlook which I want to talk about. However it would take up too much, may be on another occasion.

cheers and god bless.

M M

[benbsb29]

Originally Posted by rranjith_kum

I dont think its just enough if go to any B school but see the engineering colleges also with guys placed and then waiting for the call letters :(
Proxima : I am facing the same issue !!

My BIL completed his MCA and had a placement with an IT company in Tvm through a campus interview. He was looking forward to life.

Now, with the recession setting in, he is yet to receive his call letter. He remains optmistic, though.

Originally Posted by mmmjgm

Hi Samurai,

Agree with your point on a micro level specific to this industry, however, we will need to grow internally. A case study on Israel & its challenges will show that any country with the political will can survive and surmount any challenges.

As you rightly mentioned, political will is important. However, i dont really see so much of a resolve from our leaders to lead the country on the roads to progress. All they are concerned about are their own interests.

[Digital Vampire]

Here is one more incident.

My friend used to work for one of the top MNC's in Blore. He wanted to move to Cochin to be closer to home and got an offer from TCS, Cochin. TCS sends in the offer letter which was accepted and he was instructed by TCS to begin resignation procedures from the Blore MNC so as to join TCS by mid DEC 08.

Now comes the classic "Tata" part. TCS has not honored the employment offer till today.
And whenever approached, the response was very indifferent. No response to emails, or calls not forwarded to the concerned person.

Apart from the 2 months salary loss (so far), any ideas on how this situation can be handled?

Yes, trying for other jobs is in progress...but the callous behavior by TCS is the heights of it and completely unacceptable...After a little research on the internet, came to know that there are more people put into similar soup by TCS.

He is thinking of taking things on the legal side, but don’t have much (or any) faith in our legal system. TCS may just honor the employment to prevent a legal case only to be thrown out a month later citing “performance” reasons.

I was an avid fan of the TATA brand, but recently for me, there have been so many reasons to hate the brand and anything associated with it.

[srishiva]

Originally Posted by Samurai

That's going to be tough for IT industry whose cost structure is geared based on overseas revenue. The IT salaries are very high, they can't be supported by servicing domestic industry where people still expect software to be almost free.

I think the problem is more of non-existence of such opportunities in domestic market.
Lot of work that gets done in India (for products) does eventually get sold back into this country (high tech mostly). These are the areas that we need to focus more on.

[SBR]

Looking at the Posts, it is getting worse as days pass by. We should be prepared with alternative options in case if we were to get a Pink Slip in these troubled times.

2009 is going to be bad even more.

[rranjith_kum]

Originally Posted by Samurai

This is one case which benefits small companies. Generally big companies sweep away most of the cream from good colleges by the 3rd year through campus recruitment. Since my company recruits trainees for immediate needs, we are forced to look long and hard from the leftovers. But since the past one year they are not able to place those who were selected and are letting them back into the job market. As a result we are able to hire excellent trainee candidates with relative ease since last year.

That is nice to hear even I thought of getting myself out and finding a job but ...

Originally Posted by benbsb29

My BIL completed his MCA and had a placement with an IT company in Tvm through a campus interview. He was looking forward to life.

Now, with the recession setting in, he is yet to receive his call letter. He remains optmistic, though.

I thought I would do Masters programme and I am working on it ... but I dont think its waste as its Maters in Automotive engineering

[benbsb29]

Originally Posted by rranjith_kum

I thought I would do Masters programme and I am working on it ... but I dont think its waste as its Maters in Automotive engineering

Look on the bright side.. atleast you'll like whatyou're learning!

[thiyags22]

Mine is a big MNC and jobs have been cut in US. In India so far no cuts except complete freeze on travel and training restricted to bare minimum. Hope things turn around fast (with nothing seen in reality we can only hope).

[lambuhere1]

Just saw this news.

TCS says no salary hike next year, job cuts possible- Jobs-News By Industry-News-The Economic Times

Scary Picture

[diabloo]

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.

[benbsb29]

Originally Posted by diabloo

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.

Unfortunately, a relative of mine happened to be among those laid off. He was apparently on bench for 2 months or so, and saw the axe hanging over his head.

[DueLLeR]

In my organization, there have been no job cuts so far. In fact, the top management has been sending out mailers that scream how well we're doing. An expensive branding exercise was conducted last month and every employee was made to sit through a 2 hour session to understand "our culture, values, and goals for the immediate future."

Two weeks back, we recieved a mailer for "performance management." Now, each employee has to go through a self-appraisal for the period of January to October 2008, even though appraisal has already been done and salary hikes were given. The side note reads: failure to complete the self-appraisal will give the employee a default rating of 1 - did not meet expectations.

IMO, this is a clever ploy to start sacking people under the pretext of performance. What say?

[vivekiny2k]

Originally Posted by DueLLeR

IMO, this is a clever ploy to start sacking people under the pretext of performance. What say?

may be somebody realized that the appraisal done was a futile exercise, and they have no way of evaluating who is good and who needs to be sacked. did you see performers across the spectrum (good, bad, ugly ). if everybody received a rating of 10, then quite likely the company wants to see differentiation.

lay offs, well, can happen any time.