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Infosys Layoff – The IT giant Infosys Technologies fires 2100 employees

With companies keen on maximum utilisation of employees and low tolerance to poor performance in the backdrop of global economic turmoil, nearly 2,100 employees in software firm Infosys have faced the axe.

“Some of these employees have been asked to go while some have left on their own,” V Balakrishnan, CFO of the Bangalore-based company, told PTI on April 11, 2009.

Prior to asking the employees to leave, they were put on a performance improvement course and those who showed no improvement were asked to leave while some others quit, he said.

“Tolerance to poor performance is very low given the current economic scenario,” said Infosys CEO Kris Gopalakrishnan.

Usually, the employees who showed poor performance were given some more time to improve themselves, but this time there had been no such consideration, he said.

Both the officials said the sacking was part of annual routine, which usually formed five per cent of the total number of employees but this time it was much lower.

Some of the employees had been “outplaced”, Kris said, which refers to the firm hiring the services of placement agencies to help the employees to get placements in other firms. Infosys has a workforce of 105,000, including trainees.

April 13, 2009 Posted by | General, India Related, IT, Software, Technology, World News | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

India’s 40 Richest Persons – 2008

Source: Forbes.com

Rank

Name

Net Worth ($mil)

Age

City

1

Mukesh Ambani (Reliance Industries Limited)

20,800

51

Mumbai

2

Lakshmi Mittal (Mittal Steel Company Ltd.)

20,500

58

London

3

Anil Ambani (Reliance Communications, Reliance Energy)

12,500

49

Mumbai

4

Sunil Mittal (Bharti Airtel Group)

7,900

51

Delhi

5

Kushal Pal Singh (DLF Limited)

7,800

77

Delhi

6

Shashi & Ravi Ruia (Essar Group)

7,600

64

Mumbai

7

Azim Premji (Wipro Technologies)

7,000

63

Bangalore

8

Kumar Birla (Aditya Birla Group)

5,000

41

Mumbai

9

Adi Godrej (Godrej Group)

4,000

66

Mumbai

10

Gautam Adani (Adani Enterprises Group)

3,900

46

Ahmedabad

11

Dilip Shanghvi (Sun Pharmaceutical Industries)

3,100

53

Mumbai

12

Savitri Jindal (O.P. Jindal Group)

2,900

59

Delhi & Hisar

13

Malvinder & Shivinder Singh (Ranbaxy Laboratories Limited)

2,800

36

Delhi

14

Anil Agarwal (Vedanta Resources Corporation)

2,400

55

London

15

Shiv Nadar (HCL Group)

2,200

63

Delhi

16

Micky Jagtiani (Landmark Group)

2,000

57

Dubai

17

Indu Jain (Bennett, Coleman & Co. Ltd.,)

1,800

72

Delhi

18

Cyrus Poonawalla (Poonawalla Group, Serum Institute of India)

1,600

67

Pune

19

Uday Kotak (Kotak Mahindra Bank)

1,550

49

Mumbai

20

Chandru Raheja (K. Raheja Corp.)

1,500

68

Mumbai

21

G.M. Rao (GMR Infrastructure Group)

1,470

58

Bangalore

22

Vivek Burman (Dabur India Limited)

1,300

71

Delhi

23

Anurag Dikshit (PartyGaming)

1,250

36

Gibraltar

24

Kalanithi Maran (Sun TV Network)

1,200

43

Chennai

25

Venugopal Dhoot (Videocon India)

1,100

57

Mumbai

26

Yusuf Hamied (Cipla Pharmaceutical Laboratories)

1,060

72

London & Mumbai

27

Ramesh Chandra (Unitech Group)

1,000

69

Delhi

28

Subhash Chandra (Zee TV Entertainment)

970

58

Mumbai

29

N.R. Narayana Murthy (Infosys Technologies Limited)

965

62

Bangalore

30

Rajan Raheja (Rajan Raheja Group)

950

54

Mumbai

31

Brijmohan Lall Munjal (Hero Honda Motors Limited)

940

85

Delhi

32

Baba Kalyani (Bharat Forge)

935

59

Pune

33

Tulsi Tanti (Suzlon Energy)

930

50

Pune

34

Jaiprakash Gaur (Jaypee Group)

890

77

Delhi

35

Niranjan Hiranandani (Niranjan Hiranandani Group)

885

58

Mumbai

36

Murali Divi (Divis Laboratories)

870

57

Hyderabad

37

Hemant Shah (Akruti City Limited)

830

55

Mumbai

38

Gracias Saldanha (Glenmark Pharmaceuticals Ltd.)

825

70

Mumbai

39

Anand Jain (Jai Corporation Ltd.)

810

51

Mumbai

40

Rahul Bajaj (Bajaj Auto Ltd.)

760

70

Pune

November 13, 2008 Posted by | Business, General, India Related, World News | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment