Satyam Computer Services (SAY) 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.

“I think the future is great but there will have to be a few sacrifices in terms of compensation, in terms of a large number of things… Some form of least painful way of reduction in staff is an option which will have to be looked at,” he said.

Read the rest of this post on the original site

Hey, we can’t all have careers at Google (GOOG). Sometimes when you work in IT, you have to hold your nose and hope for the best.

Last year we named “The 7 dirtiest jobs in IT,” but we barely scratched the topic’s grime-caked surface. In the world of technology, there’s plenty of dirt to go around.

Read the rest of this post

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. It’s Venture Capital. It’s not self-funding, renewal capital.

Rather than trying to be a Venture Capitalist, I was looking for an idea that hopefully could inspire people to create businesses that could quickly become self-funding. Businesses that just needed a jump-start to get the ball rolling and create jobs. I’m a big believer that entrepreneurs will lead us out of this mess. I just needed a way to help.

So here it is. Some people will love it, some will hate it. It is what it is.

Read the rest of this post

Logitech (LOGI) late Monday 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. The cuts will result in an unspecified charge to earnings in the fiscal fourth quarter ending in March.

In a statement, CEO Gerald Quindlen said that in December, “the retail environment deteriorated significantly.” He said customers reduced inventory levels in the face of weaker consumer demand. Quindlen added that he expects the economic environment to worsen in the coming months.

Read the rest of this post

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. The social-networking site, which lets business professionals create online profiles to seek jobs and network, is adding members faster than ever despite its own recent layoffs and a management shake-up.

“LinkedIn is the office, Facebook is the barbecue in the backyard, and MySpace is the bar,” says Hoffman, referring to the three major social-networking sites battling it out for millions of consumers and billions of dollars in online ads.

Read the rest of this post

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.

Read the rest of this post