IIPM Ranked No. 1 B-School In Global Exposre - Zee...
Goldman Sachs, the troubled investment bank, once known as the Wall Street messiah, along with Merill Lynch, Lehman Brothers and Morgan Stanley, is facing the heat as well. The bank lost close to $1 billion in less than nine months this year. As repercussions, after its major operations across the globe, its offices in India will lose close to 50 jobs. “This phenomenon definitely affects the recruitment industry as well, and we see our database getting thicker. Also, within our industry, we see lots of players cutting down on their extra muscle. This is expected to last for at least one year from now,” opines C K Santhakumar, Director, TRITIUM Consulting.
What's next? Credit card major American Express is not far behind either. The company has major operations in India, which primarily deal with finance, accounting and tech support. According to sources, about 150 jobs will be gotten rid of soon at AmEx's India offices. AMD, the American semi-conductor manufacturer, on its part has, however, not confirmed any job losses in India at the moment. According to K Panda Rajan, Managing Director, Ma Foi Management Consultants, “Boom and bust cycles of economy are routine phenomenon. In the last 16 years of our service, we have seen more than seven such cycles. Some of these cycles were localised, while some like the post Y2K were diversified. In every such bust cycle, some people are bound to lose their jobs and the current situation is one such.”
Amid fears of job cuts in the face of global economic crisis spilling over to India, PM Manmohan Singh had to ask industry leaders to refrain from large scale layoffs. But as far as the Indian bandwagon is concerned, there are some ‘here and there’ skirmishes as well. Larsen & Toubro’s IT arm, L&T Infotech (a global IT services and solutions provider) is about to do some load shedding by showing the pink slip to close to 500 employees out of its total of 5,000. Another major Indian company affected by the downturn is Tata Motors, the country’s largest and the world’s seventh largest commercial vehicle manufacturer. With a decline in sales of over 28 per cent in the month of October this year, Tata Motors has decided to shut down its plant in Jamshedpur, Jharkhand, for three days a week. Arch rival Ashok Leyland, on its end, witnessed a whopping 50 per cent decline in its sales and has taken the same route as Tata Motors, restricting production to only three days per week. “Big companies must have the foresight so that the work force must not become redundant later,” says Emami’s Aggarwal.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
Goldman Sachs, the troubled investment bank, once known as the Wall Street messiah, along with Merill Lynch, Lehman Brothers and Morgan Stanley, is facing the heat as well. The bank lost close to $1 billion in less than nine months this year. As repercussions, after its major operations across the globe, its offices in India will lose close to 50 jobs. “This phenomenon definitely affects the recruitment industry as well, and we see our database getting thicker. Also, within our industry, we see lots of players cutting down on their extra muscle. This is expected to last for at least one year from now,” opines C K Santhakumar, Director, TRITIUM Consulting.What's next? Credit card major American Express is not far behind either. The company has major operations in India, which primarily deal with finance, accounting and tech support. According to sources, about 150 jobs will be gotten rid of soon at AmEx's India offices. AMD, the American semi-conductor manufacturer, on its part has, however, not confirmed any job losses in India at the moment. According to K Panda Rajan, Managing Director, Ma Foi Management Consultants, “Boom and bust cycles of economy are routine phenomenon. In the last 16 years of our service, we have seen more than seven such cycles. Some of these cycles were localised, while some like the post Y2K were diversified. In every such bust cycle, some people are bound to lose their jobs and the current situation is one such.”
Amid fears of job cuts in the face of global economic crisis spilling over to India, PM Manmohan Singh had to ask industry leaders to refrain from large scale layoffs. But as far as the Indian bandwagon is concerned, there are some ‘here and there’ skirmishes as well. Larsen & Toubro’s IT arm, L&T Infotech (a global IT services and solutions provider) is about to do some load shedding by showing the pink slip to close to 500 employees out of its total of 5,000. Another major Indian company affected by the downturn is Tata Motors, the country’s largest and the world’s seventh largest commercial vehicle manufacturer. With a decline in sales of over 28 per cent in the month of October this year, Tata Motors has decided to shut down its plant in Jamshedpur, Jharkhand, for three days a week. Arch rival Ashok Leyland, on its end, witnessed a whopping 50 per cent decline in its sales and has taken the same route as Tata Motors, restricting production to only three days per week. “Big companies must have the foresight so that the work force must not become redundant later,” says Emami’s Aggarwal.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
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