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Infosys to freeze hiring, says signs aren’t good

S Gopalakrishnan, CEO and MD of Infosys, speaks at the Reuters India Investment Summit.

COMPANY FORECAST: S Gopalakrishnan, CEO and MD of Infosys, speaks at the Reuters India Investment Summit.

Infosys Technologies Ltd will freeze recruitment after meeting this fiscal year’s target of hiring 25,000 staff, a telling sign the global downturn is hitting India’s $52 billion outsourcing sector.

The country’s second largest software services firm however has no plans to cut jobs and is sticking with its third quarter outlook, CEO Kris Gopalakrishnan told reporters.

He said the outsourcing sector’s growth rate would halve next year as some customers delay orders. “Last year the IT industry grew more than 30 per cent, this year it is looking at somewhere in the region of 15 per cent,” Gopalakrishnan said.

India’s export-driven IT sector, used to a scorching pace of growth, has been hit by the financial crisis and recession in the United States, which contributes more than half their revenue. In the last few years, the outsourcing industry has created tens of thousands of jobs, mainly attracting young workers, as global companies look to trim labour costs.

Infosys hired 16,000-17,000 employees in the first half of the fiscal year that began in April and would honour commitments to 6,000 under training, Gopalakrishnan said. Infosys, which counts Goldman Sachs and Philips Electronics among its clients, cut its full-year dollar revenue outlook in October due to the worsening global downturn.

Gopalakrishnan said on Dec 04, 2008 the company would freeze fresh recruitment, apart from meeting specific skill needs. “We will have to look at controlling our cost, controlling our expenses making sure that we run an optimised business. We will have to look at what are things we need to do in order to prepare ourselves for the recovery.” “Growth is coming more and more from emerging markets so hese are the things we need to prepare ourselves. We should not lose momentum in this slowdown,” he said.

But Infosys still expects its strong client base and a weakening rupee to help it meet a forecast for December quarter earnings of $0.57 a share. The Indian rupee has fallen nearly six per cent so far this quarter against the dollar.

“Infosys is seeing further degradation of the demand environment, with headwinds from leadership changes at customers, a shrinking large deal pipeline …. Pricing pressure has emerged,” CLSA Asia-Pacific said in a report this week.

December 4, 2008 Posted by | General, India Related, IT, Software, Technology | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Chandrayaan-1 in earth’s orbit, sends signals

India’s first unmanned flight to the moon blasted off from Sriharikota, off the Andhra Pradesh coast, early morning on Wednesday and started to cruise around the earth in its designated orbit, minutes after a copybook liftoff.

Carrying over a billion hopes, India’s maiden lunar mission began its historic journey to the moon on Wednesday when an indigenously developed rocket placed the spacecraft into the Transfer Orbit “perfectly”.

A 44-metre-tall and 316-tonne rocket called the Polar Satellite Launch Vehicle (PSLV C11) carried the 1,380-kg lunar orbiter from the Satish Dhawan Space Centre in Sriharikota, , about 80 km north of Chennai, at exactly 0622 hrs IST.

After 18.2 minutes of the lift-off, ISRO’s warhorse rocket injected Chandrayaan-I into earth orbit.

The cuboid spacecraft built by the Indian Space Research Organisation – likely to be injected into Moon’s orbit on November 8 – has launched the country into the elite club that has sent missions to the moon.

Other members of the club are the US, former Soviet Union, European Space Agency, China and Japan. The US returns to lunar exploration aboard Chandrayaan-1, which is also carrying two NASA instruments in its payload.

The first four phases of the launch were 100 per cent perfect, said the scientists, and ground stations across the world – including the master control station in Bangalore – started getting signals from Chandrayaan.

Hectic activity is on at the ISRO Telemetry, Tracking and Command Network (ISTRAC) at Peenya, Bangalore which will be the country’s nerve-centre for controlling Chandrayaan-I for the next two years.

The Deep Space Network (DSN) at Byalalu will join ISTRAC in tracking the spacecraft for the next six hours.

’It’s a historical moment’

Speaking minutes after the successful liftoff Chairman of the Indian Space Research Agency (ISRO) G Madhavan Nair described the moment as historic. “India has started its journey to the moon. The first leg has gone perfectly. the spacecraft has been launched into orbit,” he said.

Nair pointed out that the launch had gone off perfectly despite heavy rain in and around the spaceport for the last four days. “We’ve been fighting the odds for the last four days,” he said.

But the weather gods relented by Tuesday evening and there no rain when the launch took place in a cloudy morning sky.

Chandrayaan-1 started to orbit the earth on its geostationary transfer orbit (GTO), from which its onboard liquid apogee motor (LAM) will be fired in a series of complex manoeuvres to take it to the lunar orbit – 387,000 km from earth – on Nov 8.

It was a dream come true for about 1,000 space scientists and technologists when PSLV-C11, with the spacecraft atop, blasted off from the Satish Dhawan Space Centre of the state-run ISRO.

Within minutes of the 44.4-metre rocket roaring aloft, leaving behind an inferno in the underground inlets of the second launch pad, the mission control centre of the space station erupted with joy and excitement.

Top scientists, led by Nair, space centre director M C Dathan, associate director M Y S Prasad and others shook hands and hugged one another even as the high-security facility reverberated with clapping of hands and cheers.

Former ISRO chairmen U.R. Rao and K. Kasturirangan and space commission member Roddam Narasimaiah, who were present on the occasion, congratulated Nair and his team.

October 22, 2008 Posted by | General, Science, Technology | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment