Satyam Computer Services has more than 10,000 staff above what it needs, according to Vineet Navyar, the CEO of Tech Mahindra, which won the auction to buy the fraud-stricken IT outsourcing company.
According to Reuters, Nayer said today that it would be better to reduce staff significantly than to risk putting all 40,000 of Satyam’s workers out of jobs.
Hey, we can’t all have careers at Google. Sometimes when you work in IT, you have to hold your nose and hope for the best.
It’s easy to write about what the government or other people should do with our/their money. It’s harder to come up with a course of action that I can undertake on my own that possibly, somehow could make a difference. My first inclination is always to try to look “for the next big thing.” But the next big thing is just that–next. It’s not now. Its Venture Capital. It’s not self-funding, renewal capital.
Late Monday, Logitech said it is withdrawing its sales and operating income growth targets for the March 2009 fiscal year. The maker of computer peripherals and other consumer electronics accessories also said it will reduce its global workforce by about 15 percent. The company has about 9,400 employees, suggesting the loss of about 1,400 jobs.
Where everyone else sees economic gloom and doom, Reid Hoffman sees opportunity. As the freshly minted CEO of LinkedIn (and its founder), he is shepherding a moneymaking tech company in battered Silicon Valley. And he anticipates more growth next year. That is no small achievement.
EMI, one of the global music majors, is shutting down some of its offices in Asia. Offices in Thailand and Singapore have already been shuttered, while regional headquarters in Hong Kong are ready for the grim reaper. All of this is part of the right-sizing moves EMI has been making; it had earlier announced plans to cut thousands of jobs worldwide.
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