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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

India’s Largest Test Victories

By an innings
Winner Margin Opposition Ground Match Date Scorecard
India inns & 239 runs v Bangladesh Dhaka (SBNS) 25 May 2007 Test # 1833
India inns & 219 runs v Australia Kolkata 18 Mar 1998 Test # 1409
India inns & 140 runs v Bangladesh Dhaka 10 Dec 2004 Test # 1725
India inns & 131 runs v Pakistan Rawalpindi 13 Apr 2004 Test # 1697
India inns & 119 runs v Sri Lanka Lucknow 18 Jan 1994 Test # 1244
India inns & 112 runs v West Indies Mumbai 9 Oct 2002 Test # 1616
India inns & 109 runs v New Zealand Chennai 6 Jan 1956 Test # 420
India inns & 106 runs v Sri Lanka Nagpur 27 Dec 1986 Test # 1063
India inns & 101 runs v Zimbabwe Nagpur 21 Feb 2002 Test # 1589
India inns & 100 runs v Australia Mumbai 3 Nov 1979 Test # 860
India inns & 95 runs v Sri Lanka Bangalore 26 Jan 1994 Test # 1245
India inns & 90 runs v Zimbabwe Bulawayo 13 Sep 2005 Test # 1765
India inns & 83 runs v Bangladesh Chittagong (MAA) 17 Dec 2004 Test # 1727
India inns & 70 runs v Pakistan Delhi 16 Oct 1952 Test # 355
India inns & 67 runs v Sri Lanka Cuttack 4 Jan 1987 Test # 1064
India inns & 52 runs v Pakistan Multan 28 Mar 2004 Test # 1693
India inns & 46 runs v England Leeds 22 Aug 2002 Test # 1613
India inns & 27 runs v New Zealand Mumbai (BS) 2 Dec 1955 Test # 417
India inns & 22 runs v England Chennai 11 Feb 1993 Test # 1213
India inns & 17 runs v Sri Lanka Ahmedabad 8 Feb 1994 Test # 1247
India inns & 15 runs v England Mumbai 19 Feb 1993 Test # 1214
India inns & 13 runs v Zimbabwe Delhi 13 Mar 1993 Test # 1218
India inns & 8 runs v England Chennai 6 Feb 1952 Test # 348
India inns & 8 runs v Sri Lanka Chandigarh 23 Nov 1990 Test # 1156
India inns & 2 runs v Australia Sydney 7 Jan 1978 Test # 814
By runs
Winner Margin Opposition Ground Match Date Scorecard
India 320 runs v Australia Mohali 17 Oct 2008 Test # 1889
India 280 runs v South Africa Kanpur 8 Dec 1996 Test # 1344
India 279 runs v England Leeds 19 Jun 1986 Test # 1047
India 272 runs v New Zealand Auckland 7 Mar 1968 Test # 634
India 259 runs v Sri Lanka Ahmedabad 18 Dec 2005 Test # 1778
India 255 runs v West Indies Chennai 11 Jan 1988 Test # 1089
India 235 runs v Sri Lanka Colombo (SSC) 27 Jul 1993 Test # 1228
India 222 runs v Australia Melbourne 30 Dec 1977 Test # 812
India 216 runs v New Zealand Chennai 26 Nov 1976 Test # 787
India 212 runs v Pakistan Delhi 4 Feb 1999 Test # 1443
India 195 runs v Pakistan Kolkata 16 Mar 2005 Test # 1741
India 188 runs v Sri Lanka Delhi 10 Dec 2005 Test # 1776
India 187 runs v England Kolkata 30 Dec 1961 Test # 518
India 179 runs v Australia Chennai 6 Mar 1998 Test # 1405
India 172 runs v New Zealand Bangalore 12 Nov 1988 Test # 1107
India 171 runs v Australia Kolkata 11 Mar 2001 Test # 1535
India 170 runs v Sri Lanka Galle 31 Jul 2008 Test # 1884
India 162 runs v New Zealand Mumbai 10 Nov 1976 Test # 785
India 153 runs v Australia Kanpur 2 Oct 1979 Test # 857
India 140 runs v England Bangalore 28 Jan 1977 Test # 794
India 138 runs v England Mumbai 27 Nov 1981 Test # 911
India 131 runs v Pakistan Mumbai 16 Dec 1979 Test # 865
India 128 runs v England Chennai 10 Jan 1962 Test # 520
India 123 runs v South Africa Johannesburg 15 Dec 2006 Test # 1823
India 119 runs v Australia Kanpur 19 Dec 1959 Test # 483
India 100 runs v West Indies Chennai 11 Jan 1975 Test # 752
India 96 runs v West Indies Mumbai 18 Nov 1994 Test # 1274
India 85 runs v West Indies Kolkata 27 Dec 1974 Test # 750
India 72 runs v Australia Perth 16 Jan 2008 Test # 1862
India 64 runs v South Africa Ahmedabad 20 Nov 1996 Test # 1338
By wickets
Winner Margin Opposition Ground Match Date Scorecard
India 10 wickets v Pakistan Mumbai (BS) 13 Nov 1952 Test # 357
India 10 wickets v Pakistan Chennai 15 Jan 1980 Test # 869
India 10 wickets v New Zealand Hyderabad (Decc) 2 Dec 1988 Test # 1111
India 10 wickets v England Mohali 3 Dec 2001 Test # 1574
India 10 wickets v Zimbabwe Harare 20 Sep 2005 Test # 1767
India 9 wickets v Bangladesh Dhaka 10 Nov 2000 Test # 1512
India 9 wickets v England Mohali 9 Mar 2006 Test # 1788
India 8 wickets v New Zealand Wellington 29 Feb 1968 Test # 632
India 8 wickets v New Zealand Auckland 24 Jan 1976 Test # 769
India 8 wickets v England Mumbai 28 Nov 1984 Test # 1001
India 8 wickets v England Kolkata 29 Jan 1993 Test # 1211
India 8 wickets v New Zealand Bangalore 18 Oct 1995 Test # 1308
India 8 wickets v New Zealand Kanpur 22 Oct 1999 Test # 1464
India 8 wickets v Zimbabwe Bulawayo 7 Jun 2001 Test # 1548
India 8 wickets v West Indies Chennai 17 Oct 2002 Test # 1618
India 8 wickets v South Africa Kolkata 28 Nov 2004 Test # 1724
India 8 wickets v South Africa Kanpur 11 Apr 2008 Test # 1873
India 7 wickets v New Zealand Delhi 19 Mar 1965 Test # 583
India 7 wickets v Australia Delhi 28 Nov 1969 Test # 667
India 7 wickets v West Indies Port of Spain 6 Mar 1971 Test # 683
India 7 wickets v Australia Delhi 10 Oct 1996 Test # 1335
India 7 wickets v Zimbabwe Delhi 18 Nov 2000 Test # 1515
India 7 wickets v Sri Lanka Kandy 22 Aug 2001 Test # 1557
India 7 wickets v England Nottingham 27 Jul 2007 Test # 1841
India 6 wickets v West Indies Port of Spain 7 Apr 1976 Test # 775
India 6 wickets v Pakistan Delhi 22 Nov 2007 Test # 1849
India 5 wickets v New Zealand Dunedin 15 Feb 1968 Test # 630
India 5 wickets v England Lord’s 5 Jun 1986 Test # 1046

October 21, 2008 Posted by | Cricket, General, Sports | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment