Another Recession

Six major IT companies reduce employee strength by over 4,000

HIGHLIGHTS

With the exception of TCS and HCL Tech, all major Indian IT companies have downsized their employee strength
Cognizant has seen the sharpest decline - of over 5,000 employees
Six major IT firms have trimmed workforce by 4,157 in the first half of this fiscal

BENGALURU: The $156-billion Indian IT industry, often called the biggest job creator in the organised sector, is seeing a tectonic shift in recruitmentFor the first six months of the fiscal, Cognizant, Infosys, Wipro and Tech Mahindra have all seen their employee strength actually decline — quite sharply in Cognizant's case (by over 5,000). TCS and HCL Technologies are the only exceptions among India's top six IT companies, but even TCS' addition is a fraction of what it did in the first six months of the previous fiscal.

Comments

Bill Gates says coding is easy check out

Billgates In 1975, Gates and Allen launched Microsoft, which became the world's largest PC software company. During his career at Microsoft, Gates held the positions of chairman , CEO and chief software architect , while also being the largest individual shareholder until May 2014. Gates stepped down as chief executive officer of Microsoft in January 2000, but he remained as chairman and created the position of chief software architect for himself. In June 2006, Gates announced that he would be transitioning from full-time work at Microsoft to part-time work and full-time work at the Bill & Melinda Gates Foundation . He gradually transferred his duties to Ray Ozzie and Craig Mundie . He stepped down as chairman of Microsoft in February 2014 and assumed a new post as technology adviser to support the newly appointed CEO Satya Nadella .

The biggest deal in health care industry

What the CVS-Aetna deal means for the future of health care When drug company chief executive Heather Bresch was hauled in front of Congress last year to defend the high price of lifesaving EpiPens, she drew skeptical lawmakers' attention to a large poster board that blamed the skyrocketing price tag on a coterie of drug supply chain middlemen. Of EpiPen's $608 list price, her company, Mylan, received only $274, Bresch said. "What the patient is paying is not . . . coming back to Mylan," Bresch said. "And when we were speaking earlier of the people, the middlemen in the system, that's either the pharmacy benefit managers, retailers, wholesalers, insurers." That supply chain — rarely seen by most consumers — is the center of attention in the corporate world after CVS Health announced a $69 billion deal to buy Aetna, the nation's third-largest insurer. Familiar as a corner drugstore, CVS Health actually makes most of its money from one of t

H-1B extension is now more difficult trump tightened walls again

Trump admin makes it more difficult for H-1B visa extension USCIS said the previous memorandum of April 23, 2004 appeared to place this burden on this federal agency. In a new directive, the Trump administration has made it more difficult for the renewal of non-immigrant visas such as H-1B and L1, popular among Indian IT professionals, saying that the burden of proof lies on the applicant even when an extension is sought. Rescinding its more than 13-year-old policy, the US Citizenship and Immigration Services ( USCIS ) said that the burden of proof in establishing eligibility is, at all times, on the petitioner. USCIS said the previous memorandum of April 23, 2004 appeared to place this burden on this federal agency. "This memorandum makes it clear that the burden of proof remains on the petitioner, even where an extension of non- immigrant status is sought," USCIS said in its latest memorandum issued on October 23. Under the previous policy, i

Trending ways

Search This Blog