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Business Line November 24, 2008
Recruiters headed for slow-growth phase |
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Business Line October 22, 2008
Cos going slow on lateral hires |
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The Times of India Monday October 20, 2008
Pink Slip Blues |
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The Times of India Friday October 17, 2008
Recruitment market shrinks; hirers in a fix |
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The Economist Times Friday October 17, 2008
Recruitment shrinks, hirers in trouble |
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The Telegraph Thursday October 16, 2008
10 ways to ride the bad times |
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Business Line Tuesday September 01, 2008
IT majors see red at the bottom |
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The Times of India Monday July 28, 2008
'Outplacing' employees to become leaner |
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Busniess Line Thursday July 08, 2008
Hefty salary hikes turn a thing of the past |
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Livemint.com (THE WALL STREET JOURNAL) Tuesday June 10, 2008
Small outfits offer big opportunities |
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Busniess Line Thursday May 22, 2008
They are beginning to look beyond IT space |
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The Times of India Saturday March 15, 2008
More pink-slips for techies this year |
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The Economic Times Tuesday March 11, 2008
Hiring in IT industry slows down 40-50% |
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Corporate News Wednesday March 5, 2008
Microsoft, Infosys 'incubating talent' to beat attrition blues |
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The Times of India Monday January 14, 2008
Rookies rule the roost today.... Fresh Look |
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The Times of India Friday January 4, 2008
Bada title, chhota kaam from indian techies |
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The Economic Times Wednesday January 2, 2008
ENABLING COMFORT At Workplace |
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The Hindu Business Line Wednesday January 2, 2008
Hiring moves beyond realm of IT, ITeS |
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More pink-slips for techies this year |
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The Times of India |
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March 15, 2008 |
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Mini Joseph Tejaswi |
BANGALORE: It looks like many more technology professionals and BPO executives are going to be pink-slipped this year. Companies normally ask around 10% of their bottom-level performers to quit after appraisals every year. But this year, the rupee appreciation and the widely expected US recession are likely to push this number up to 20%-25%.
Several providers are being told by their clients overseas to cut employee-cost, which has increased by 15% to 20% in the last 18 months. Enterprises are also being pushed to cut drastically or eliminate their bench-sitters. In other words, the industry is clearly heading towards a forced-attrition regime.
''You can't actually term it as downsizing. It will be an overall rationalization exercise, wherein we will also get rid of benches. Every corporate action is dictated by market dynamics,'' said the president (HR) of a leading IT firm.
Global banks have been writing-off billions of dollars due to the sub-prime crisis. Other clients have started cutting or cancelling contracts. Consequently, domestic IT providers are already tightening their belts. Expenditure towards travel, employee entertainment including outing and dinners, birthday/wedding anniversary gifts/vouchers, reward programmes, free holidays and phone calls have already come under the scanner.
"The message is to cut everything that's directly unlinked to revenue. The heat of the recession is already being felt among Indian providers. As a result, they are looking at all kinds of cost-cutting measures, including people-pruning," said Mohan Lal Menon, managing director of executive search firm Sentient Consulting.
"After having maintained huge benches for several years, enterprises today are targeting a zero-bench scenario. That means more people will be shown the door this year," says Nirupama VG, MD of staffing company AdAstra.
Over the last three years, most companies were aggressively building their bench strength in the belief that these employees could be used on newer projects. But with orders drying up, the benches have become liabilities.
Kris Lakshikanth, managing director, Head Hunters, says, ''Forced turn-outs are expected across the industry in thousands especially in companies with large people bases like TCS, Wipro and Infosys.''
According to Zubin Shroff, MD, Talent Management Group, ''Performance is going to be the ruthless yardstick. Enterprises have realized that a productivity-bound people-correction is key to survival.''
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