Showing posts with label pink. Show all posts
Showing posts with label pink. Show all posts

Sunday, September 13, 2009

If women controlled the world......






IF WOMEN CONTROLLED THE WORLD...

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Sunday, September 14, 2008

Satyam to axe 4500 employees --- is it true?

Satyam to axe 4,500 employees
15 Sep 2008, 0013 hrs IST, Debasmita Ghosh ,TNN



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.


Source : The Times of India
link :
http://timesofindia.indiatimes.com/Business/Satyam_to_axe_4500_employees/articleshow/3483165.cms

Tuesday, July 15, 2008

Patni lays off employees

MUMBAI: After Tata Consultancy Services and IBM Global Services, Patni Computer Systems has laid off close to 400 employees citing non-performance issues.

The country’s sixth-largest exporter said it was part of a routine appraisal exercise, carried out every year to weed out non-performers, and not related to any slowdown issues.

“This was an absolutely regular appraisal that is important for any performance-driven organisation. It is something standard we do every year. Employees who have got 0-1 rating on a scale of 5 typically form the basis for the first-level shortlist. These are performance-based resignations; we’ve not issued any termination letters,” said Rajesh Padmanabhan, executive vice-president and head, global HR, Patni.

He said the comparable figure for last year was 148.

In February this year, in the backdrop of a pronounced slowdown in the US, TCS had asked about 500 employees to leave for non-performance. Shortly afterwards, IBM was reported to have laid off 700 freshers.

In case of TCS, the figure was about 0.5 per cent of its total workforce and for IBM, about 1 per cent of its India workforce. For Patni, the figure is closer to 3 per cent of its 14,800 workforce.

A Patni spokesperson said the company continued to be a net hirer. “Retrenchment is a word used when you are facing negative growth or no growth and cutting down on your labour costs. We continue to recruit -- the number of new employees we intend to hire, according to our quarterly results communication, is about 2,000,” said a Patni spokesperson.

Industry sources said the employees were asked to leave a fortnight ago and some of them were even at the designation of project manager.

“Usually, these do not happen at project manager levels. But I know in this case, a project manager working on a GE (General Electric) contract was asked to leave,” said a source, with knowledge on the development, who did not wish to be identified.

Some people in the industry attributed the layoffs to the challenging business outlook Patni and other software companies were facing.

“The performance index is being unfairly used on people on the bench. These employees are not working due to lack of projects,” said a person closely associated with a number of software companies.

Bench is a term used to indicate employees who are not working on any available projects because they are undergoing training or are between projects.

As a strategy, companies also maintain a bench in readiness for new projects. In a slowdown, because of postponement or cancellation of projects, the bench size increases more than what companies plan for.

The Patni stock has risen 15 per cent on the BSE in one month on the expectations of a buyback, which has now been announced for July 10. In the same period, the IT index has gained 2.43 per cent. On Tuesday, the stock ended almost flat at Rs 238.70 on BSE.

Source :Indiatimes