You should read following message. Its very very very important.
DON'T CHANGE JOB UNLESS YOU HAVE VALID REASON
Devraj Uchil/Lalatendu Mishra, Mumbai
Hindustan Times
This is not the time to switch jobs, unless you have a compelling reason
to do so. India Inc is slowing down on recruitments as the Indian economy
loses steam.
Aviation, BPO and financial services, which went on a hiring spree during
the economic boom, seem to have developed cold feet. Fresh recruitment in
manufacturing and infrastructure has also hit a rough patch, according to
industry experts.
Aviation, which is passing through a major crisis after oil prices rose to
a record $145 a barrel, seem to have lost its yen for talent. Expats, who
came rushing to India with the onset of low-cost airlines, have left their
jobs. Retrenchment seems to be the new buzzword in the sector.
Budget carrier Go Air has cut 400 jobs in the last six months. Deccan has
frozen recruitment and is reviewing its business plans due to the sudden
increase in jet fuel prices. "We don't want to hire people and then lay
them off as done by some airlines," said Hitesh Patel, Executive
Vice-President, Kingfisher Airlines, which controls budget airline Deccan.
In the next few days, employee salaries will also see a reduction.
"We are moving away from fixed costs to variable costs. Since January, we
have frozen fresh recruitment and cut manpower by 30 per cent as we with-
drew from several sectors," said Edgrado Badiali, CEO, Go Air Aviation
training schools, which mushroomed in anticipation of the boom, are eyeing
jobs for their students in the Middle East where the industry is still
growing.
The story is the same in other sectors. "The slowdown in the job market is
really happening. ITeS, infrastructure, industrial manufacturing, banking
and BPOs that were well recruiting last year: have taken a hit," says
James Agrawal, consulting director & head, BTI Consultants. Companies like
IBM, TCS and Patni Computers have slashed jobs in their software and BPO
operations.
1 ) IBM - Right now this is the most firing company for IT professionals.
In the last 6 months, this company has fired nearly 20% of their employees
because of BG check and "performance" issues. This is the most insecure
company from an IT professionals point of view. They don't have any
strategic plans at HR policies regarding employee security. No appraisals
(maximum 10%).
2 )TCS - Previously it's an government IT Company . Now a day's TCS also
becoming firing IT company. Recently they fired on 500 people.( the people
below 2 years of experience) and TCS loss so
many projects recently( especially British Telecoms Projects).
3 ) Accenture - This is second top most firing company. The firing rate is
around 5%. This depends upon outsourced projects; they have a unique
system where Accenture development centers around the world bid for a
project coming into the company. Currently Philippines centre is taking
the cake and the Indian centers are in a firing mode.
4 ) WIPRO - Firing people with very frequent back ground checks and firing
them without even experience letters and relieving letters (will mention
as terminated from services)but will promise the employees that they will
retain them. After the project is over they will fire away. Will threaten
of criminal cases against such employees if they oppose the move and has
also filed against some.
5 ) Intel - Recently joined the league. Running in heavy losses, hence
firing 3000 employees in the Bangalore center in a phased out manner.
6 ) CTS - Has a steady firing policy (checking the Educational background
and previous employment and also employee performance in work). In a
Recent HCL walk-in, around 50% attendees were from this company. Sadly the
I-pods have not helped them.
7 ) CSC - Excellent package but fires folks in Background check and those
on bench regularly. Recently fired 400+ employees from its subsidiary
Covansys.
8 ) Satyam - Currently stopped firing. The Attrition rate is very high. No
firing from 2005 until now when 1000 employees were fired in Hyderabad.
9 ) Patni -- They fired so many employees that currently they are facing
under staffing and deficiency with number of employees. Very high
attrition rate.
10 ) Keane India -- This USA based company is always involved in firing
employees. Although they proudly say that they don't have hire and fire
policy. Recently they fired java and as 400 professionals after which most
of the employees have started to pack their bags. Employees change this
company within 1 year.
So take care before accepting offers from these companies.
--
"If we fight, we may not always win, but if we don't fight, we will surely lose."
ARVIND.
arvind.arvind1uk@
My Blogs,
http://greatgujarat
http://dreamsatdawn
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