Forward by Poornima
Wife: If I dismiss the cook and make the food myself for a month, what will you pay me?
Husband: I won't have to pay you, you'll get my entire insurance amount.
What's the diff between Complete & Finished?
If you find good wife u r complete otherwise u r finished.
Police arrested a drunkard & asked: Where r u going?
Man: I'm going 2 listen lecture on ill effects of drinking.
Cop: Who'll lecture at midnight?
Man: My wife...
Before marriage: Roses are red, sky is blue. U r beautiful, I love u.
After marriage: Roses are dead, I'm blue. U r my headache, one day I'll
kill u.
Q: Why do women live longer than men?
A: Shopping never causes heart attacks, but paying the bill does!
Showing posts with label job cuts. Show all posts
Showing posts with label job cuts. Show all posts
Tuesday, February 24, 2009
Just Like That
Friday, January 9, 2009
Satyam staff not to get salaries for 2 months
Forward by Suresh
Satyam Computer on Friday announced holding back employees salaries for two months, even as rumours were rife that the company might lay off close to 15,000 workers in the coming days.
The offices of Satyam Computer were rife on Friday with the talks about forthcoming pink-slips at the company, which needs over Rs 500 crore (Rs 5 billion) every month just to meet its staff costs and has admitted that its cash position was not encouraging.
Employees said they have received an e-mail saying the company would hold back salaries for two months and asked staffers to bear with it.
However, the company spokesperson declined knowledge of any such e-mail and the issue would be looked into.
Even as the company spokesperson denied any layoff plans as of now, the rumours put the estimated job cuts at close to 15,000 by the end of this month.
Employees at the company said on condition of anonymity that they were hearing about imminent lay-off of people who were sitting on the bench or were close to completing their assigned projects. Besides, those being retained would be asked to take substantial salary cuts, they added.
At the same time, global HT consultancy firm Hay Group's Practice Leader Mark Thompson said that employees would suffer the most from the fraud.
Global HR consultancy firm HayGroup's Practice Leader Mark Thompson said: "Based on past experience . . . as with Enron, Worldcom and the Mirror Group, it is likely to be the employees who will suffer most from the fraud perpetrated by their bosses."
In early 2000, the collapse of energy trader Enron had left thousands of people out of work, another 8,500 had lost their jobs at accounting firm Arthur Andersen; and Tyco eliminated 15,000 employees in February.
Friday, January 2, 2009
Motorala to slash 400 more jobs
Forward by LaxmiRamana
Mobile phone maker Motorala will cut 400 more jobs and expects to incur charges worth $189 million related to cost reduction measures
in the fourth quarter.
Earlier in October, the firm had said it would reduce the workforce by about 1,500 employees, mainly in the Mobile Devices segment. The move would result in pre-tax charges of 104 millions dollars in the fourth quarter.
Motorola in a filing to the Securities and Exchange Commission on Tuesday said the company would terminate nearly 400 employees, which would result in charges of about 25 million dollars in the fourth quarter.
“On December 23, 2008, the company approved certain additional plans relating to these cost-reduction initiatives.
These additional actions, plus other actions approved since October 30, 2008, relate to the termination of approximately 400 employees, resulting in additional pre-tax severance charges of approximately 25 million dollars in the fourth quarter of 2008,” the filing noted.
The cell phone maker said these actions would result in total pre-tax charges to the tune of 189 million dollars in the fourth quarter.
“Cash payments associated with these actions have occurred in the fourth quarter of 2008 and will occur in 2009.
All of the company’s business segments, as well as various corporate functions, are impacted by these plans,” the filing pointed out.
Motorala reported a net loss of 397 million dollars in the third quarter whereas the company had a net profit of 60 million dollars in the year-ago period.
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