IT job market crashes: Infosys, Cognizant and others reportedly fire thousands
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Levina
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Entrepreneurship is the only way forward.
Diggy
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or also help an entrepreneur build a company if you think you are still not ready , work in start ups if you really wanna improve your skills and knowledge then serve these stupid MNCs and yes i practice what i preach
No downsizing, to hire more, says TCS chief
Bucking the trend, software major Tata Consultancy Services (TCS) has ruled out laying-off employees in the near future and instead plans to create more jobs.
“No, certainly no,” Rajesh Gopinathan, CEO and MD of TCS, said here on Thursday when asked if there were any plans of laying-off employees or downsize as some other big players in India’s IT sector have said they would do.
“We are here to create jobs, not to downsize,” he asserted after TCS launched a BPO centre here to create new opportunities as part of the government’s Digital India push.
At a time when it has been reported that Indian software companies like Wipro, Infosys and Cognizant have decided to downsize, Gopinathan’s revealation that TCS is not going to follow suit is seen as a welcome development.
Later, TCS spokesperson Pradipta Bagchi said the IT sector has a bright future in the country with the Digital India initiative on the right track. “We are looking forward to expand and spread our business and connect with more and more people.” TCS operates in 45 countries and has over 387,000 of the world’s best trained consultants. —IANS
http://www.tribuneindia.com/news/business/no-downsizing-to-hire-more-says-tcs-chief/405820.html
Bucking the trend, software major Tata Consultancy Services (TCS) has ruled out laying-off employees in the near future and instead plans to create more jobs.
“No, certainly no,” Rajesh Gopinathan, CEO and MD of TCS, said here on Thursday when asked if there were any plans of laying-off employees or downsize as some other big players in India’s IT sector have said they would do.
“We are here to create jobs, not to downsize,” he asserted after TCS launched a BPO centre here to create new opportunities as part of the government’s Digital India push.
At a time when it has been reported that Indian software companies like Wipro, Infosys and Cognizant have decided to downsize, Gopinathan’s revealation that TCS is not going to follow suit is seen as a welcome development.
Later, TCS spokesperson Pradipta Bagchi said the IT sector has a bright future in the country with the Digital India initiative on the right track. “We are looking forward to expand and spread our business and connect with more and more people.” TCS operates in 45 countries and has over 387,000 of the world’s best trained consultants. —IANS
http://www.tribuneindia.com/news/business/no-downsizing-to-hire-more-says-tcs-chief/405820.html
ashok321
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But still Proud to see my countries flag fly high anywhere, even in my PDF profile.
One more reason to spoil the name of your own country for nothing, as well as your's with your negative ratings.
Some incorrigible dude..
Vigneshwara
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I think this is good wake up call for India to diversify the job market and look into new ventures. I think we should take manufacturing very seriously.
Tom M
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The fact that you typed "your won country" instead of "Our Country" itself reveals your false national identity. LOL
I've nothing more to say, please spare me if you don't have anything productive on topic.
Tom M
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I'm not an animal to call names here, neither does my cultural upbringing allows me to do so. Therefor you comments don't deserve a reply my friend. So please don't bother me again.
ashok321
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The fact that you typed "your won country" instead of "Our Country" itself reveals your false national identity. LOL
I've nothing more to say, please spare me if you don't have anything productive on topic.
Write correctly.
If you can.
Other than that it would be uncivilized.
maximuswarrior
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I'm not an animal to call names here, neither does my cultural upbringing allows me to do so. Therefor you comments don't deserve a reply my friend. So please don't bother me again.
LOL That's all it took.
Next time don't accuse another respected member of this forum.
Tom M
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deceptive false flagger
And the definition?
Name: Tom M
Flag
What an Indian clown indulged in circus ring.
I was born in Liverpool, currently working and staying in Bangalore.
But again it proves that you are neither an Indian and doesn't have the manners to indulge in civil discussion. Please care to show your true nationality if you have an IOTA of sincerity. And please don't bother me again, if you don't have anything on topic to discuss.
ashok321
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WON?
He took me for a South Korean after couple of Heineken
Lol
if you have an IOTA of sincerity, don't accuse anyone with falseflagger type. The way you did.
Don't do onto others, what you don't want to them to do onto you.
Even the nicest people have limit/
He took me for a South Korean after couple of Heineken
Lol
I was born in Liverpool, currently working and staying in Bangalore.
But again it proves that you are neither an Indian and doesn't have the manners to indulge in civil discussion. Please care to show your true nationality if you have an IOTA of sincerity. And please don't bother me again, if you don't have anything on topic to discuss.
if you have an IOTA of sincerity, don't accuse anyone with falseflagger type. The way you did.
Don't do onto others, what you don't want to them to do onto you.
Even the nicest people have limit/
Last edited:
Vishwabalas
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That is what "Make in India" means.
Tom M
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And you know why exactly I mentioned about "false flagger" and to whom ?? Just like you said, even the nicest people have limits, especially when they are called names. But still I refrained from doing the same because my upbringing doesn't allow me to do so.
Moreover I guess you know the meaning of the word "PLEASE". Now I reiterate, please don't bother me again, if you don't have anything on topic to discuss.
Vishwabalas
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A good article by the Economist,
http://www.economist.com/news/leade...rnment-guarantee-their-debts-india-needs-curb
India needs to curb borrowing by profligate state governments
That means tackling the implicit central-government guarantee of their debts
India’s states used to be the epitome of fiscal rectitude. It was the central government that wrecked India’s credit score—its bonds are rated BBB-, one notch above “junk”. But stagnating revenues and higher spending have pushed the states’ combined deficits to their highest in 13 years. They now spend more than the central government—and not always wisely. Civil servants are in line for whopping pay rises. The new chief minister of Uttar Pradesh, a state with some 220m people, wants to waive the repayment of loans to farmers, a ruinous policy, which if copied elsewhere, would increase the combined federal and state deficit by 2% of GDP.
Usually, politicians would be deterred from such largesse by bond-market vigilantes, who would make wild borrowing unaffordable. But in India state bonds are issued by the central bank and carry an implicit central-government guarantee. Much as Portugal or Greece overborrowed a decade ago, when they were paying almost the same interest rate as Germany (it did not end well), so Indian states have access to the same cheap financing regardless of the condition of their books.
Indian states are meant to keep their budget deficits below 3% of GDP. But this rule is often trumped by political expediency. Worse, states have a captive market for their debt: Indian banks have to redirect a fifth of their deposits into buying central- or state-government bonds. Authorities also lean on public pension funds and insurance companies to buy state bonds. With financing so abundant, why balance the books?
Financial crises often start with borrowers who have overextended themselves because their lenders assume someone will bail them out. India should act now to prevent a future crash by imposing more discipline on state borrowing, and by pressing markets to discriminate between states with sustainable finances and those on the path to bankruptcy.
Once a central-government guarantee is assumed, however, persuading investors that it does not exist is never easy. One option would be to say explicitly that state bond issues are not guaranteed. Unfortunately, the political costs of not bailing out a struggling state are such that a promise never to intervene lacks credibility. Another tack would be to make the guarantee explicit but limited, up to an authorised threshold; that might inject enough political plausibility to make any additional borrowing more expensive. Simpler still, states could be forced to pay the central government for a guarantee, with the least creditworthy paying most.
Crowding out
More fundamentally, India’s banks and pension funds should have much greater freedom to pick investments. As well as the deposit requirements, the authorities routinely nudge public pension funds and insurers to invest in specific bonds. Giving investors more choice over where to put their cash, and forcing states to borrow on the strength of their own balance-sheets, would cause some fiscal tightening. But the reckoning will be bigger and messier if states keep living beyond their means. It is time to signal that they bear responsibility for their own borrowing, and to end the perverse incentives that encourage them to dig themselves ever deeper into debt.
http://www.economist.com/news/leade...rnment-guarantee-their-debts-india-needs-curb
India needs to curb borrowing by profligate state governments
That means tackling the implicit central-government guarantee of their debts
India’s states used to be the epitome of fiscal rectitude. It was the central government that wrecked India’s credit score—its bonds are rated BBB-, one notch above “junk”. But stagnating revenues and higher spending have pushed the states’ combined deficits to their highest in 13 years. They now spend more than the central government—and not always wisely. Civil servants are in line for whopping pay rises. The new chief minister of Uttar Pradesh, a state with some 220m people, wants to waive the repayment of loans to farmers, a ruinous policy, which if copied elsewhere, would increase the combined federal and state deficit by 2% of GDP.
Usually, politicians would be deterred from such largesse by bond-market vigilantes, who would make wild borrowing unaffordable. But in India state bonds are issued by the central bank and carry an implicit central-government guarantee. Much as Portugal or Greece overborrowed a decade ago, when they were paying almost the same interest rate as Germany (it did not end well), so Indian states have access to the same cheap financing regardless of the condition of their books.
Indian states are meant to keep their budget deficits below 3% of GDP. But this rule is often trumped by political expediency. Worse, states have a captive market for their debt: Indian banks have to redirect a fifth of their deposits into buying central- or state-government bonds. Authorities also lean on public pension funds and insurance companies to buy state bonds. With financing so abundant, why balance the books?
Financial crises often start with borrowers who have overextended themselves because their lenders assume someone will bail them out. India should act now to prevent a future crash by imposing more discipline on state borrowing, and by pressing markets to discriminate between states with sustainable finances and those on the path to bankruptcy.
Once a central-government guarantee is assumed, however, persuading investors that it does not exist is never easy. One option would be to say explicitly that state bond issues are not guaranteed. Unfortunately, the political costs of not bailing out a struggling state are such that a promise never to intervene lacks credibility. Another tack would be to make the guarantee explicit but limited, up to an authorised threshold; that might inject enough political plausibility to make any additional borrowing more expensive. Simpler still, states could be forced to pay the central government for a guarantee, with the least creditworthy paying most.
Crowding out
More fundamentally, India’s banks and pension funds should have much greater freedom to pick investments. As well as the deposit requirements, the authorities routinely nudge public pension funds and insurers to invest in specific bonds. Giving investors more choice over where to put their cash, and forcing states to borrow on the strength of their own balance-sheets, would cause some fiscal tightening. But the reckoning will be bigger and messier if states keep living beyond their means. It is time to signal that they bear responsibility for their own borrowing, and to end the perverse incentives that encourage them to dig themselves ever deeper into debt.
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