dial_100 Posted February 4, 2009 Posted February 4, 2009 We have a new government in the White house with lot of hopes but the first quarter of this year has brought us massive lay-offs. There are total 300K layoffs announced this quarter. Some big names like NEC, SAS, Boeing, Pfizer and off course biggest of all Panasonic and Circuit city. Though we see almost Trillion dollar will be spent on bailouts (or stimulus), I think expecting the speedy recovery of US economy would be foolish. I know many of us are affected by this, just curious to know how many of us are affected by these layoffs. http://articles.moneycentral.msn.com/Investing/Extra/first-quarter-layoffs.aspx?GT1=33002 Well just so that you know, my company will lay off almost over 20K in next couple of years....It is difficult times.
fineleg Posted February 4, 2009 Posted February 4, 2009 20k? Caterpillar announced 20k can we merge with this thread, and maybe rename the title: http://www.indiancricketfans.com/showthread.php?t=139569 There is data in that thread, and we can keep it in one place. Real screwed up economy this, will affect many folks.
coffee_rules Posted February 4, 2009 Posted February 4, 2009 Get a load of this.... http://www.informationweek.com/news/management/outsourcing/showArticle.jhtml?articleID=213000389 IBM Offers To Move Laid Off Workers To India Big Blue wants to help redundant U.S. employees relocate to developing markets, according to an internal document. By Paul McDougall InformationWeek February 2, 2009 12:36 PM The climate is warm, there's no shortage of exotic food, and the cost of living is rock bottom. That's IBM (NYSE: IBM)'s pitch to the laid-off American workers it's offering to place in India. The catch: Wages in the country are pennies-on-the-dollar compared to U.S. salaries. Under a program called Project Match, IBM will help workers laid off from domestic sites obtain travel and visa assistance for countries in which Big Blue has openings. Mostly that's developing markets like India, China, and Brazil. More CIO InsightsWhite Papers17 Ways to Reduce IT Cost Managing Risk - An Integrated Approach Videos One of the industry's leading CIOs, Ralph Szygenda, talks about what it takes to be a CIO and what tomorrow's CIO will have to do to prepare."IBM has established Project Match to help you locate potential job opportunities in growth markets where your skills are in demand," IBM says in an internal notice on the initiative. "Should you accept a position in one of these countries, IBM offers financial assistance to offset moving costs, provides immigration support, such as visa assistance, and other support to help ease the transition of an international move." The document states that the program is limited to "satisfactory performers who have been notified of separation from IBM U.S. or Canada and are willing to work on local terms and conditions." The latter indicates that workers will be paid according to prevailing norms in the countries to which they relocate. In many cases, that could be substantially less than what they earned in North America. IBM has laid off more than 4,000 workers in the United States since the beginning of January, according to an employee group. The company has confirmed layoffs but won't comment on specific numbers. A spokesman for Alliance@IBM, a workers' group that's affiliated with the Communications Workers of America but which does not have official union status at IBM, slammed the program. "IBM is not only offshoring IBM U.S. jobs but they want employees to offshore themselves through Project Match," said the spokesman. An IBM spokesman said the program shouldn't be seen in that light. "It's more of a vehicle for people who want to expand their life experience by working somewhere else," said the spokesman. "A lot of people want to work in India." In addition to India, China, and Brazil, IBM is offering to relocate redundant U.S. workers to a number of other developing markets, including Mexico, the Czech Republic, Russia, South Africa, Nigeria, and the United Arab Emirates, according to the notice, which was obtained Monday by InformationWeek.
dial_100 Posted February 4, 2009 Author Posted February 4, 2009 I dont work for some manufacturing company...My company is not listed there.
fineleg Posted February 4, 2009 Posted February 4, 2009 Get a load of this.... http://www.informationweek.com/news/management/outsourcing/showArticle.jhtml?articleID=213000389 IBM Offers To Move Laid Off Workers To India . Meh, Things getting out of control!
Guest dada_rocks Posted February 4, 2009 Posted February 4, 2009 R& D budget is the first on chopping block, uncertain times ahead.God forbid if it does happen then I have already made up my mind for the long sabbatical in India .......
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