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No Salary Hike For Employees In IT Firms

11 Mar

The Global recession is so high for the first time since world war 2 and it has affected the developing countries more.Out of 116 developing countries 94 countries have faced financial shortfall and 43 countries have high level of poverty and are in a vulnerable state.

The most affected industrial sectors are exports,manufacturing,construction and IT firms are not left back in this list .India’s largest software firm TCS are likely to lay off 1,300 employees.The company has a total headcount of around 1.3 lakh employees.

Lay off’s have been started in centers in chennai where around 200 employees have been asked to leave.And the reason given for the lay off by the company spokesperson is “This is mostly for the employees who have been given a second chance to improve and haven’t” .

And the global economy is expected to recover only by 2010, so wage hikes will not be significant a TCS spokes person told hindustan times that “The salaries will be in a flat range for the employees and it depends upon their skill set ” .

And a director of human resources from infosys Technologies told hindustan times that “There are only few jobs in the market because of the global recession and this may persist for the next two to three years and salaries will be low”.

However experts in IT firms say that IT companies do not want to create high expectations for their employees amidst the economic conditions.


Obama Says No More Outsourcing

27 Feb

American firms will not be able to get tax free breaks if they outsource jobs to countries like india,china,philippines etc.U.S president obama said this on tuesday night.

He said “We will restore a sense a fairness and balance to our tax code” .More than 1000 U.S firms which have outsourced their jobs will be affected by this move of obama .Opposition parties have been demanding the abolition of this rule for a long time saying it was encouraging american companies to send their jobs overseas.

Some of the major companies which have outsourced their jobs are Microsoft,motorola,pepsico,ibm,honeywell.In his speech obama gave hope to all the american’s who are facing a state of crisis which they have never faced before but this rule will adversely affect countries like india where most of the people have now only started to prefer private companies more than government jobs.

And the most of the private companies are dependent on projects which are outsourced from the U.S and this may increase unemployment in countries like india.Obama in his speech said clearly that “While our economy may be weakened and our confidence shaken ,though we are living through difficult and uncertain times,tonight i want every american to know this: we will rebuild,we will recover“.

He said i will do all it takes to help the small businesses that can’t pay its staff and dropping out of high school is no more an option and by 2020 america will once again have the highest proportion of college graduates in the world.Obama is going to pass the budget proposal on thursday.