How India’s IT giants are cutting costs

December 12, 2008


Indian IT companies are becoming more innovative in terms of cutting costs and, interestingly, they are now seeking ideas from their employees!

While multi-national companies are on a job-cutting spree, the mantra for Indian companies is ‘cut costs’. From cutting down on snacks, travel, telephone bills, power, stationery bills and even tissue rolls in rest rooms, the going gets tougher for IT

Infosys

Infosys has asked every employee to save $10 dollar each. This would result into a total savings of about $1 million for the company, says S ‘Kris’ Gopalakrishnan, chief executive officer, Infosys.

The company has set up a portal for employees to send ideas on how to cut costs. The move seems to have worked with the company getting over 1,000 ideas in this direction.

Infosys has also offered a sabbatical to employees who have completed two years in service. Employees will get 50 per cent of their salary during the sabbatical. They also have an option of working with NGOs.

“We will have to look at controlling our costs and expenses, making sure that we run an optimised business. We will have to look at what are the things we need to do in order to prepare ourselves for the recovery,” Gopalakrishnan said.

Infosys will freeze recruitment after meeting this fiscal year’s target of hiring 25,000 employees, he said. Infosys hired 16,000-17,000 employees in the first half of the fiscal year.

Infosys has over 100,000 employees.

Tata Consultancy Services

No sabbatical or social work for employees, says TCS. But the company is serious about cutting down on travel, power, communications, and raising employee productivity.

“We are reviewing all our capital expenditure plans. This includes technology acquisition, infrastructure development, and even travel and power expenses,” S Ramadorai, chief executive officer, TCS said.

TCS is planning lower salaries and stricter appraisal norms next year. Many IT firms are calling employees back to India instead of sending them abroad on different projects. This works out to be cheaper for the companies.

TCS has total staff strength of 120,000.

Wipro

Cost-cutting measures at Wipro took an ugly turn with students from engineering colleges protesting against Wipro’s move to employ engineers at the business process outsourcing (BPO) unit at half the salary they had been offered initially.

However, Wipro has now agreed not to change the salary package for those who are asked to join Wipro BPO.

Wipro employs over 95,000 employees.

Satyam

Satyam Computer Services is following in Infosys’s footsteps. It plans a sabbatical for its employees.

Satyam staff may also be given the option of taking up corporate social responsibility activities, at a lower salary. The company may also look at cutting down perks. The company will take a final call on cost-cutting measures after the third quarter results.

Satyam currently employs 52,865 people.

Source: Rediff


Where Are The JOBS In India

November 19, 2008

jobsFINANCE & CONSULTANCY

SBI to hire 25,000 new hands, according to bank chairman O P Bhat, the fresh recruitment will be done this fiscal – 20,000 in the clerical cadre and 5,000 supervisory staff

Bank of India to hire 10,000 over the next few months. This on top of over 30,000 fresh recruitments in 2008-09. In the next 2 yrs, the bank plans to take in 75,000

Deloitte Touche Tohmatsu, top global mgmt consultants, looking to hire 3,500 in India in 3 yrs

MetLife, a new private insurance co., will recruit 30,000 agents and 2,000 managers by March 2009, says CEO Rajesh Relan

BPO

Aegis BPO Services will add 1,000 people per month this fiscal

CAMPUS HIRING

IIM Bangalore and IIM Calcutta say all their students have got placements for next year

INFOTECH

Tata Consultancy Services to hire 30,000-35,000 people this year, says a spokesperson. TCS made 24,789 technical campus offers for 2009-10, a 13% jump over this year

Infosys is sticking to plans of hiring 25,000 people this fiscal, says CEO Kris Gopalakrishnan. Infosys has made around 20,000 offers for next year

Satyam plans to hire 8,000-10,000 people this fiscal, according to its HR head, S V Krishnan

Accenture will hire 10,000 people in India by 2010, says COO Stephen J Rohleder

MANUFACTURING

L&T will hire 10,000 people over the next 3 yrs, according to CMD A M Naik Maruti has decided to hire 1,000 fresh hands despite the sluggishness in the auto sector, says a company spokesman

Source: Times Of India