IT companies and US economic crisis

Started by dwarakesh, Sep 26, 2008, 04:04 PM

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nithyasubramanian

Economic recovery in H2, if stable govt comes: Goldman Sachs   


New Delhi, April 24: Global financial major Goldman Sachs expects the Indian economy to recover from slowdown in the second half of this fiscal, if a stable government is formed after General Elections.

"The evidence appears to suggest that if a stable government were to come to power, markets would be driven by fundamentals and global cues. In that event, leading indicators suggest to us a recovery in economic activity in the second half of fiscal year 2009-10," Goldman Sachs said.

Referring to economic activity post-polls in the past, the financial firm said economic activity increased immediately after five elections out of seven since 1984.

"On each of those five occasions, a coalition perceived to be stable, has come to power," it said in a report, titled India: Impact of the Elections on Acitity and Markets.

The two elections in which activity declined were when neither of the two major national parties--- the Congress or the BJP-- were a part of the ruling coalition.

Elections do not change the trajectory of the business cycle, the report said, adding that the impact of the elections should not be overplayed.

"According to our estimates, election cycles do not interfere significantly with the economic cycle. We continue to expect GDP growth to be 5.8 per cent in FY10, above the consensus of 5.1 per cent."

courtesy : Zeenews.com
Thanks and Regards
- Nithya Subramanian
Kenvivo Communications
http://nithya-subramanian.blogspot.com/

dwarakesh

Indian IT firms try to reduce or push out benched staff

A large bench (people without assigned work) is generally considered to be an asset, a tool to control attrition. But with the global slowdown hitting the sector, it is proving to be a liability.

This is forcing companies to devise ways to reduce bench strength, by posting in other areas and paying them less till they become productive assets.

India's second-largest software company Infosys Technologies, for instance, has given its bench employees a choice, wherein they can work with the company's Business Process Outsourcing (BPO) arm with the same salary and perks. It is also encouraging benched employees to apply for projects using the Intranet portal -- wininfy.com -- the failure of which may also lead to job loss. In some companies, techies on the bench are being encouraged to find projects on their own, internally, by hardselling themselves.

Excluding trainees, Infosys officially agrees their bench strength is 3,500-4,000 people. This will increase once the 8,000 people undergoing training join in the next two months. Besides, the company has issued joining letters to around 16,000 campus recruits, who were given offers last year. To mitigate such pressures, Infosys has already announced an increase in the current training duration from the three months to almost six months.

Wipro has already given an option to its bench resources to work for only two days a week and take a 50 per cent cut in their salary. Close to 1,000 employees, including senior managers and project managers, have availed of this offer so far, according to the company. In some cases, the company is encouraging the bench resources, including managers, to come to office 10 days a month at a stretch and take a cut in salary.

The company is also encouraging some employees to take a sabbatical for six months or more to go for higher studies. About 10-12 per cent of Wipro's employees with the IT services business are said to be on the bench now. "We want to keep our efficiency level fairly high. We don't want to create laxity there. It is not just the question of a bad economic situation, but working habits, too, get spoiled by doing so. It is better to keep a tight bench and keep everybody fairly engaged," says Girish Paranjpe, Joint CEO of Wipro's IT business.

HCL Technologies has urged its benched employees to take a pay cut of 25 per cent. It is also asking them to find opportunities inside the company on their own, failing which they may lose their jobs.

TCS, India's largest IT firm, which added 32,000 employees last financial year, including close to 25,000 freshers, says it is very important to ensure utilisation is at least at 74 per cent, though the company claims the increasing bench is not much of a problem. It, however, says the plan is to increase the training period of new recruits.

"The idea is to train people better, utilise people better and also help them gain experience. The normal training period is the same, but in addition to that we will give more training, if there is an additional period for which we have to keep them on the bench. We will definitely use them either in development of some of the assets (IT solutions, platforms) or we will give them some training. It can be an additional two or three months. It will differ on a case by case basis," said N Chandrasekaran, COO and executive director of India's largest IT firm.

Moreover, while the physical bench had always been there, mid-sized IT firms like Hexaware and Mastek have coined the word 'virtual desk' to define a certain section of their unutilised resources who will be enjoying lesser privileges and perks. Hexaware had said the virtual bench has about 350 employees who will get about half their basic salary.

source: businessstandard

dwarakesh

IT may see 1 lakh job cuts by Sept

The Indian IT services sector may see up to five per cent layoffs -- amounting to more than one lakh job cuts -- over the next six
months as companies focus more on cost-cutting due to persisting weakness in global demand, experts say.

Companies may reduce workforce in this fiscal, mostly based on stringent performance criteria, experts added.

"We expect the knowledge industry (IT) to see 3-5 per cent non-voluntary exits in the first two quarters of the financial year mainly in senior and middle levels," Deloitte Touche Tohmatsu Senior Director (Management Consultancy Services) P Thiruvengadam said.

Given the fact that more than 22 lakh people work in the IT industry, five per cent non-voluntary exits would mean more than one lakh employees being shown the door by September.

Nasscom estimates more than 22 lakh people were working in the Indian IT-BPO sector in FY2009 (till February), while indirect job creation is estimated at about eight million.

International Management Institute (IMI) Director C S Venkata Ratnam said, "The IT sector is better off but it may see up to 4-5 per cent job losses in the first two quarters of this fiscal."

The global financial turmoil has also hit the country's other export-related sectors including textiles and some unorganised industries like auto ancillaries, Venkata Ratnam said.

Besides, IT services (including engineering services, R&D, software products) exports, BPO exports and the domestic IT industry provide direct employment to 9,47,000, 7,90,000 and 5,00,000 people, respectively, Nasscom says.

The next 5-6 months would be critical for companies in deciding on job cuts. At present, layoffs are very few and more companies have frozen hiring to tackle the economic slowdown, Thiruvengadam said.

Last week, third-largest software exporter Wipro said it would freeze salary hikes and is uncertain about campus recruitment.

Further, as per government data, over one lakh people lost jobs in the export sector due to the global downturn.

source: economictimes

dhilipkumar

Forrester: PC power management still not widespread in IT, despite recession

Most IT professionals aren't managing PC power use within their organizations, even as many companies look to cut costs because of the economic recession, according to a survey conducted by Forrester Research Inc. By not doing so, they may be passing up big savings, especially in regions with high energy costs.

Forrester surveyed 91 IT managers in midsize and large companies about their PC power management practices. The consulting firm, which issued a report about the survey to its clients this month, found that only 13% of the respondents had implemented wide-scale power management programs, while another 18% had set up programs but not for all of their PCs.

The top reason cited for the low deployment rate was IT managers not being responsible for technology energy costs, said Doug Washburn, the Forrester analyst who conducted the survey.

The survey results aren't surprising: The U.S. Environmental Protection Agency estimates that no more than 10% of all PCs in use within organizations have their power management capabilities turned on.

One reason for that may be skepticism about how much money can be saved per PC. Another may be the continued use of Windows XP. Windows Vista gives administrators the ability to natively manage power settings on PCs over a network, but XP does not, although there are third-party tools available for that, including a free one from the EPA called EZ GPO.

In addition, managing electricity usage typically falls under the duties of facilities managers such as Forrest Miller, director of support services at the Lake Washington School District in Redmond, Wash. Among other things, he is responsible for the power utilization of about 11,500 PCs.

For the past several years, Miller has been using software from Seattle-based Verdiem Corp. to manage the school district's PC power consumption. The tool is set to put PCs into sleep mode after 20 minutes of inactivity, said Miller, whose IT department administers the software.

The Verdiem software costs Lake Washington $25,000 annually under a three-year agreement. Miller said that the application has helped the district reduce power consumption by about 3.66 million kilowatt-hours per year, for an annual savings of about $256,000, based on current electricity rates.

computerworld

dhilipkumar

Forrester: PC power management still not widespread in IT, despite recession


Miller said he views power management as an easy way for users to have a major effect on energy costs with minimal or no impact on work processes. He added that he has yet to hear any complaints from employees about the program. "It would be interesting to me to know why people wouldn't do this," he said of PC power management in general.

The dollars savings may vary significantly by region, though. For instance, Washington state has relatively low power costs, in the range of 5 to 7 cents per kWh. Contrast that with Northeast states such as Connecticut, where rates range from 14.25 cents to nearly 20 cents per kWh, according to data from the U.S. Energy Information Administration.

The EPA estimates cost savings of $25 to $75 per PC annually if system standby or hibernation features are activated on machines.

Washburn said there are other reasons why PC power management tools aren't being deployed more widely. That includes concerns about possible end-user backlash, uncertainties about the best approach and policies to put in place, and an inability to predict financial savings and make a business case for a program if companies haven't measured their existing power consumption levels.

But only 9% of the IT managers surveyed by Forrester said they had no interest at all in PC power management, while 48% said they were considering the idea of setting up a program. Washburn thinks that change is afoot. Even if IT managers don't own the energy budget at their companies, "there is much more pressure to understand energy consumption," he said.


computerworld

dwarakesh

Obama's tax proposal to hit US companies rather than Indian IT sector

Indian IT services providers do not appear perturbed over the proposal of US President Obama to eliminate a loophole that allows US firms to avoid paying tax on profits earned overseas.

They say that the proposal will primarily impact US-headquartered companies like IBM, Hewlett Packard, Microsoft and Oracle that have overseas operations in countries like India.

Most large American companies earn more than 50 per cent of their revenues from markets outside the US and will be affected by the proposed tax reforms.

For instance, IBM has over 70,000 employees in India and more than 55 per cent of its revenue comes from outside the US. So, too, for Hewlett Packard, which has 30,500 employees in India.

Intel, the world's largest chip maker, counts emerging markets as the next growth area. And as part of increasing their hold in these markets, all US IT firms have invested both in terms of finance and people.

"The current proposal, as we understand, is to close corporate tax loopholes for US multinational corporations. We do not believe it has anything to do with IT outsourcing done by US corporations," India's second-largest IT services provider, Infosys Technologies, said in a statement.

Raman Roy, founder of Quatrro BPO Solutions, said: "These new tax proposals will generate incremental revenue for the US government because it will be taxing the profits of overseas companies. Captives will benefit from this move. However, these benefits will be short-term. In the long run, it might make us less competitive."

"For Indian IT firms, there is no immediate impact in the light of the recurring protectionist voice coming from the US. But the tax reforms that are being talked about have more to do with the global operations of US firms," said Ganesh Natarajan, CEO and MD, Zensar.

The current law in the US states that "any income that is earned outside the US is not taxed until such time it is brought back into the US". The Obama proposal aims to alter that to raise the revenues of the US government. Obama said removal of tax deductions to firms that earned profits in countries with low tax rates and closing other loopholes would net $210 billion in additional tax collections over the next decade.

The tax reforms (announced yesterday) have only been proposed and there will be an extended debate on these before they can be implemented, as they require existing laws to be changed, according to software body Nasscom.

Business groups in the US had assailed the proposal, arguing that it would subject them to far higher taxes than their foreign competitors must pay and ultimately endanger US jobs, it added.

As far as India goes, global companies that earn profits here are subject to a tax rate of 33.9 per cent (including surcharge and cess) and the impact of the proposed reforms on them would be marginal.

Analyst firm Zinnov said the proposed revision in tax breaks was counter-intuitive to organisations who were looking at India strategically for long-term growth.

"If the Obama government thinks that outsourcing is a 'reversible phenomenon' and cutting tax breaks will help create jobs in the US, then the thought process is quite short-sighted and needs lot more clarity. Consequences of such a policy spanning across different countries and verticals can be unimaginable. Its complexity and implications can be much larger than the current recessionary scenario that we are dealing with," said Chandramouli, director, Advisory Services, Zinnov.

Others, especially in Japan and Europe, are moving to a territorial system that taxes only corporate profits earned within their borders and the latest US proposals are contrary to the trend, notes Nasscom. This might actually end up reducing competitiveness of US companies with global operations when compared to their European and Japanese counterparts, it concluded.

Source: Business Standard

nithyasubramanian

U.S. sheds 539,000 jobs in April, fewest in 6 months


WASHINGTON: U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline might be easing and gave the stock market a boost.

The unemployment rate, however, soared to 8.9 percent, the highest since September 1983, from 8.5 percent in March, and job losses in March and February were a combined 66,000 steeper than previously estimated, the Labor Department said.

A 72,000 jump in government payrolls tempered the overall job-loss figure.

Government employment was bolstered by the hiring of about 60,000 temporary workers in preparation for the 2010 census and U.S. Labor Secretary Hilda Solis said this figure would fluctuate in the months ahead.

Private sector employment fell by 611,000 in April after a 693,000 decline in March, the department said, which curbed some of the optimism over the report.

Still, the data was not as bleak as financial markets had expected and offered the freshest sign that the intensity of the recession, now in its 17th month, was starting to fade.

"The labor report added to the growing list of data points that imply that the steepest part of the economic contraction is now past," said Brian Fabbri, chief North America economist at BNP Paribas in New York.
The payrolls reading, which beat market forecasts for a 590,000 drop, and results of the government's tests on the health of the 19 biggest domestic banks buoyed U.S. stocks.
The Dow Jones industrial average ended up 1.96 percent at 8,574.65. Government bond prices ended higher as unemployment was seen still rising well into 2010.

President Barack Obama, whose government has rolled out a record $787 billion rescue package of spending and tax cuts, said April's payrolls number was somewhat encouraging, but that the job losses were still a sobering toll.

"It underscores the point we're still in the midst of a recession that was years in the making and that is going to be months or even years in the unmaking.

We should expect further job losses in the months to come," Obama said.

Since the start of the recession in December 2007, the U.S. economy has lost 5.7 million jobs, the Labor Department said.

In neighboring Canada, a surprise 35,900 jobs were added to payrolls in April, confounding analysts who had expected the economy to extend its pattern of heavy job losses.

GLIMMERS OF HOPE

In a hopeful glimmer for the U.S. economy, the rise in the unemployment rate reflected a surge in people joining the labor force, as opposed to a collapse in employment.

The report showed job losses across almost all sectors, although at a less steep pace than in previous months.

Manufacturing lost 149,000 jobs in April after shedding 167,000 in March.

Economists were heartened by a slight increase in hours worked in manufacturing, where the average work week inched up to 39.6 hours from 39.4 in March.

"The very good news is that the hours in the manufacturing sector were up, which implies that we are going to have some production increases soon, if not in April for industrial production, perhaps in June at the latest," said Kurt Karl, chief U.S. economist at Swiss Re in New York.

Government data last week showed a record $103.7 billion drawdown in inventories in the first quarter. Analysts reckon this created a platform for a recovery in manufacturing.

Construction, among sectors hit hardest by the housing-led recession, shed 110,000 jobs in April, the Labor Department said, after losing 135,000 the previous month.

The service-providing industry slashed 269,000 positions after cutting 381,000 in March, while in education and health services they rose 15,000 after increasing 10,000 in March.

Despite the slowdown in the pace of job losses, the unemployment rate will continue to rise until at least the first quarter of 2010, peaking anywhere between 9.5 and 10.5 percent, according to economists.

"It does look as if we are falling more slowly and we are likely to hit bottom reasonably soon, at least when it comes to economic growth," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania, but added:

"We are looking at rising unemployment rates for quite some time even as job losses moderate."
The length of the average work week was unchanged at 33.2 hours in April. Average hourly earnings edged up to $18.51 from $18.50 in March, which analysts said was a reminder that incomes remained under pressure.

"The figures gave a cautionary warning about consumer incomes," said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts.

"(The modest rise in) hourly earnings, which combined with the heavy loss of jobs signals a continuing decline in overall wage and salary incomes, is bad news for purchasing power."

A separate report from the Commerce Department showed wholesale inventories dropped 1.6 percent to $411.7 billion, the lowest since November 2007, after falling a record 1.7 percent in February.

courtesy : Express Buzz.
Thanks and Regards
- Nithya Subramanian
Kenvivo Communications
http://nithya-subramanian.blogspot.com/

dwarakesh

Capgemini cuts about 100 jobs in Chennai

More than 100 employees have been laid off by Consulting and outsourcing firm Capgemini at its Chennai centre.

As per the reports, Capgemini sacked 600 employees in Hyderabad and Pune. The company has nearly 20,000 people working in India and the pink slips were issued for mostly in the middle management employees.

According to the sources, the layoff across centers was due to overall economic slowdown, company's project flow and clients were impacted by this.

Though the size of the contracts from the clients have been ramped down, like the "Lehman Brothers account closed after the company's collapse". Apart from the middle management, some employees on temporary basis were also asked to leave.

India is central to the global delivery model and also in the process of mapping existing skills with the business in hand and the business outlook. The economic condition is tough and no company is immune to its effects.

Sources also say that industry was seeing a service within all the affected verticals. The process is hard but it has to be undertaken to align the business with global economic realities, optimise operational efficiency, ensure financial health and enable future growth.

In the financial year of 2009, Capgemini group posted consolidated revenues of Euro 2,205 million, up 0.9 per cent compared with the year-ago period.

Source: itvoir

dwarakesh

Infosys to cancel home loan facility

The cup of troubles for tech employees is overflowing. After companies have cut-back on salaries and perks given to employees,
Infosys Technologies is planning to withdraw its home loan facility for employees with effect from 1 July, according to an internal mail from the company.0

Infosys, which values each employee at nearly Rs 1 crore, has been providing interest free home loans to needy employees for several years. So far over 2,000 employees (with experience of five years and above) have availed the loan facility accounting for a cumulative disbursements of Rs 80 crore, company officials said.

Source: Economictimes

dwarakesh

8,500 jobs may be axed if work not found: Satyam

Satyam Computer Services today said 8,500 idled employees might be fired in six months, unless business picked up as the Indian software provider reorganised.

"There is a possibility" the employees who have been furloughed on reduced pay because of a lack of work will be fired, newly-appointed Executive Vice-Chairman Vineet Nayyar said in an interview. The cuts would represent 18 per cent of the workforce, based on the number of employees Satyam said it had in April.

The company will release a reorganisation plan tomorrow to cut costs and help retain customers after a stock collapse prompted by founder B Ramalinga Raju's admission in January that he overstated assets.

The possibility of Satyam's business improving enough in six months so that all the idled employees can be deployed is "very negligible," Srivathsan Ramachandran, a Chennai-based analyst at Spark Capital Advisors, said. Satyam, which said it had about 48,000 employees at the time Tech Mahindra agreed to buy it, has 8,500 employees on a "virtual bench" because of a lack of orders, Chief Executive Officer Chander Prakash Gurnani had said yesterday.

Source: businessstandard

dwarakesh

Satyam places another 500 on bench

Mahindra Satyam is on course to cut more flab to trim costs. After placing over 8,000 employees on the virtual pool, the comp
any has now created a "corporate reserve" akin to a bench for over 500 associates.

The move, however, sparked off speculation about possible exit of senior-level employees in the Hyderabad based outsourcing firm.

In an internal communication, the company said "associates belonging to the enterprise business competency (EBS) and those in sales, relationships, operations management, programme management, delivery integration, solution frameworks & presales will reside in the corporate reserve till allocations are made.

According to him, there would only be a few hundred associates in the corporate reserve. "We are aware of the inconvenience that this could cause for the small set of associates, but request your understanding given the complexities of this large-scale exercise," the communication stated.

Earlier, the company placed around 8,000 people on the virtual pool fort six months. The creation of a corporate reserve, according to analysts, is akin to placing employees on the bench. Scam tainted Satyam had around 42,000 employees on its rolls when the firm was acquired by Pune based Tech Mahindra.

source: timesofindia

dwarakesh

IT's back to business as hiring, hikes return

Six months ago, Indian IT looked like it was staring into a long, dark tunnel--one that might take at least a year to get out of. Today, however,
there's already a hint of a light at the other end.

Information infrastructure company EMC has just announced that it will invest $1.5 billion in India over the next five years, a level of investment from a single company that the sector has not seen in close to two years.

Manpower supply company TeamLease that saw its open positions drop dramatically from 10,000 a month to 800 post the Wall Street
crash, has in the past two months seen those numbers rise to 3,500. Wipro has lifted its freeze on hikes and promotions, at least for some employees.

Partha Iyengar, regional research director in Gartner India, says the number of calls the company gets from customers for directions and consulting has gone up sharply in the last 3-4 months, "indicating that a large number of IT deals will hit the pipeline in the next two quarters".

The Indian IT industry was one of the worst hit by the recession on account of its almost complete dependence on international markets--especially the US and Europe. The freeze on IT budgets by companies around the world meant that new orders dried up. Industry association Nasscom initially forecast that IT exports would grow by 22-24% in 2008-09, but as the recession deepened, this was revised down to 16%. For this fiscal, the association has projected a mere 4-7% growth to $48-50 billion.

But optimism is making a tentative return. "That phase of drastic downturn is behind us," says S Ramadorai, CEO of Tata Consultancy Services, India's biggest IT company. "There's stability now. The deal pipeline is encouraging, but the time it takes to close a deal remains long. And many customers are yet to fully open up their IT budgets."

Source: indiatimes

lillyglobe

There is an increased demand for the young IT professionals.That is because fresher salaries may increase, going forward, given that MNCs are targetting the same talent pool.

Between themselves, MNCs like IBM, Accenture and Capgemini are set to hire some 2 lakh people by 2009. And that is going to lead to wage inflation at the fresher level.

Edelweiss says a look at salaries offered by Indian majors - TCS and Infosys, to graduates set to join in 2008 and 2009, shows an average hike of 40%.

Also, the recruitment patterns of these companies shows an interesting trend. Aided by a gradual increase in fresher wage hikes, TCS has hiked its offers per college to 78 offers per college for fiscal 2009 compared to 53 offers in fiscal 2008.

Infosys, on the other hand, has reduced its offer per college to 26 offers per college for fiscal 2009 from 46 offers per college in fiscal 2008.

Though, the impact of this inflation will be negligible in the first two years, in the third year, the impact might be over 100 basis points, atleast for Infosys. Smaller IT companies may see an impact of as much as 200 basis points on their margins if the same trend continues.

IT companies are caught in a logjam. If they recruit freshers, salary overhead shoots up to an unmanageable proportion and if they don't, they fall short of manpower. The results will reflect only after 2 to 3 years.
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dwarakesh

Goodies shine on IT employees

Things get better HCL Tech plans to hire 2,000 by Dec-Jan; considering salary hikes for top performers Infosys said it will be starting compensation review for need-based promotion starting Oct Mahindra Satyam will reinstate variable pay across employee levels starting Oct 1 Employers are talking about hiring, salary hikes and promotions after almost a year of cost cutting that involved lay-offs, lower perks and recruitment freezes.

HCL Technologies plans to hire 2,000 people over the next quarter, including some fresh graduates. It has started the process of identifying its top performers for a salary hike.

Infosys Technologies said last week that it would start a compensation review exercise for "need-based promotion" starting October 1, signalling a new employee welfare initiative. Mahindra Satyam is also trying to rebuild its corporate image and employer brand after the Mahindras took over the corporate fraud-hit Satyam Computer Services, and renamed it.

Source: yahoonews

dwarakesh

Satyam to recruit again, even seniors

For the first time in almost six months after it was acquired by Tech Mahindra, Satyam Computer Services (now rebranded as Mahindra Satyam) will hire 130 people from outside the company.

In June this year, Satyam had initiated a 'virtual pool programme' (VPP) for close to 10,000 surplus employees, that allowed 'excess' talent pool in India to be retained, albeit at a reduced pay for a defined period of four to six months. Some of these employees were later "called back to work" with full wages.

He, however, did not disclose the roles to be assigned to these seniors it plans to hire. The company currently has around 34,000 staffers globally, and is working towards shaking off the bad image its disgraced founder, Ramalinga Raju, had left it with.

Mahindra Satyam lost 200-250 client companies after the confession by founder Ramalinga Raju that he had cooked the company's books for several years. Today, the company has 400 customers globally.

On the cultural side and people-related issues, he said the company had recently initiated employee connect programmes, including one in which the chief executive officer, C P Gurnani, walks across different floors and talks to people and listens to their issues.

Source: Business Standard

michelclarck


Protest ends as Wipro goes ahead with hiring

A week long hiring drama came to an end, as Wipro announced that it will hire around 13,500 engineering graduates as planned earlier. The IT major, had faced scrutiny in West Bengal, after the company offered BPO jobs to students who were earlier hired in the IT segment.

After the protest, Wipro called for a press conference, where Pradeep Bahirwani, Vice President, Talent Acquisition, Wipro Technologies,  in a jiffy said, Of the total 13,500 campus offerings made across the country last year, we have taken 3,700 of them so far, while the remaining (9,800) have been told to wait for their turn to join,"

However, later Bahirwani said "There is an option for engineering graduates to join our BPO division as technical support engineers. The technical support role needs engineering graduates, and that the company would have to hire fresh engineers from outside, if it had not made this offer to campus recruits.

Also, mentioned that more than 95 per cent of the engineering graduates have already accepted the option of working in Wipro's BPO centre in Kolkata, and there will not be any change in the salary package for those opting to join Wipro BPO. These graduates will make anywhere between Rs 2.75 lakh and Rs 3.25 lakh per annum.


dhoni

america is major part of it company while the some years before the america has senses problem

but it can be major damage in many sort of company

while america senses get problem means and entire cost value has been changed

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