Businesses worldwide continue to announce more job losses. Latest to come up with more such axing is Hewlett Packard.
HP has registered a steep decline in its second quarter profits and has also announced a reduction of 2 percent in its global workforce over the next 12 months. This in essence means that out of 3,21,000 [...]
The recession continues to take its toll.
Telecommunications giant, British Telecom (BT), is to cut 15,000 jobs this year. It said it was aiming to cut the jobs through natural wastage, non replacement and voluntary redundancy and had no plans for compulsory lay-offs.
BT has already brought down its workforce from 162,000 to 147,000 (March, 2009).
BT is [...]
Microsoft has initiated job cuts in India. It has reportedly reduced its India workforce by 1%. This is said to be part of its January, 2009 initiative wherein it had announced reduction of 5000 jobs worldwide by June, 2010.
Business Standard reports that affected employees in Hyderabad and Bangalore offices of Microsoft have already been informed. It further [...]
Another acquisition made news today !
Tata Consultancy Services (TCS) is acquiring Citi’s Indian BPO through a cash deal of US Dollar 505 million.
Citi’s Indian back-office, Citigroup Global Services Limited (CGSL), is a captive unit and one of the largest providers of Business Process Outsourcing Services within the Banking and Financial Services sector to Citi’s consumer, corporate and global wealth management [...]
Nomura Holdings have finally made an announcement regarding acquisition of Lehman Brothers’ Business Units in Powai, Mumbai (India).
A company release says that Nomura would acquire 3 units of Lehman in Powai :
“…Lehman Brothers Services India Private Limited, Lehman Brothers Financial Services (India) Private Limited, and Lehman Brothers Structured Finance Services Private Limited, all specialized service [...]