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Modi sarkar economic reforms/governance performance thread


FischerTal

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கோவையில் மூடப்படும் தொழிற்சாலைகளால் வேலையிழப்பு!

ஆட்டோமொபைல்18:29 PM September 04, 2019

தொழில் துறையில் ஏற்பட்டுள்ள நெருக்கடி காரணமாக கோவையில் உள்ள சிறு, குறு வார்ப்பட ஆலைகளில் பணிபுரிந்து வந்த 40 ஆயிரத்துக்கும் மேற்பட்ட வடமாநில தொழிலாளர்கள் வேலை இழந்து சொந்த ஊர் திரும்பியுள்ளனர்.

 

Longer video

https://tamil.news18.com/videos/automobile/many-lose-their-job-from-the-declain-of-the-auto-mobile-industries-mj-202301.html

 

 @velu

 

Edited by Stan AF
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19 hours ago, Tibarn said:

https://www.business-standard.com/article/companies/manufacturers-want-to-quit-china-but-neither-vietnam-nor-india-match-up-119082300167_1.html

 

Once in a lifetime opportunity, with Trump's trade war, will be wasted if Modi doesn't take action soon. 

 

Read the article for some of the issues that Vietnam has as of now. 

 

too late to bring labor reforms now 

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31 minutes ago, Stan AF said:

 

 
 

கோவையில் மூடப்படும் தொழிற்சாலைகளால் வேலையிழப்பு!

ஆட்டோமொபைல்18:29 PM September 04, 2019

தொழில் துறையில் ஏற்பட்டுள்ள நெருக்கடி காரணமாக கோவையில் உள்ள சிறு, குறு வார்ப்பட ஆலைகளில் பணிபுரிந்து வந்த 40 ஆயிரத்துக்கும் மேற்பட்ட வடமாநில தொழிலாளர்கள் வேலை இழந்து சொந்த ஊர் திரும்பியுள்ளனர்.

 

Longer video

https://tamil.news18.com/videos/automobile/many-lose-their-job-from-the-declain-of-the-auto-mobile-industries-mj-202301.html

 

 @velu

 

 

cant do anything ..  global auto sector is in big trouble 

 

http://www.forbesindia.com/article/leaderboard/auto-slowdown-takes-global-turn/54597/1

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22 minutes ago, Tibarn said:

Why do you say that? 

 

it will take lot of time to develop the skill set .. 

labor reforms are must , but i think even with absolute majority nda will face strong opposition .. 

 

someone said that agri based economy usually moves towards manufacturing and then towards service ..

we are trying to jump from agri based economy to service based ..  

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https://economictimes.indiatimes.com/news/economy/foreign-trade/donald-trumps-tariff-hit-us-firms-keen-to-relocate-to-india-from-china/articleshow/70972083.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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Donald Trump's tariff-hit US firms keen to relocate to India from China
USISPF president Mukesh Aghi said about 200 US companies were keen to relocate to India from China.
 

upload_2019-9-4_8-53-5.png

upload_2019-9-4_8-52-8.png

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Humphries has disclosed that the details of how many heads will roll will be shared in public in October when the company would be declaring its results for Q3 of 2019.

S. Mahadevan

Friday, September 06, 2019 - 16:29

 

 

More news of downsizing at IT major Cognizant Technologies has surfaced, this time directly from the horse’s mouth, that is, Brian Humphries, CEO of the company.

In an interaction with investors in the US (Cognizant Technologies is a company registered in the US with its headquarters in Teaneck, New Jersey), Humphries has disclosed that the details of how many heads will roll will be shared in public in October when the company would be declaring its results for the third quarter of 2019.

These job cuts will be part of an over restructuring that Humphries is trying to undertake to make Cognizant a lean and mean organisation in every sense of the word. He has said, the company has been losing contracts to rivals Tata Consultancy Services and Infosys, primarily due to higher costs, and reduction of costs is going to be one of his priorities. Brian Humphries took over as CEO at Cognizant just 4 months earlier in April 2019.

 

The CEO has said rather than doing the exercise in bits and pieces, he would rather wield the axe in one strong blow and be done with it. He has also clarified that the affected employees will be notified earlier than the date of announcement to the public. This means this month is going to be a virtual bloodbath at Cognizant if you went by the hints thrown by the CEO.  

 

 

The exact words uttered by Humphries may point to that: “We need to be draconian with the cost structure and use those savings to fund the future”.

It is important to note that for Cognizant, any stagnation has only been of recent origin. For almost 25 years, the IT giant was the envy of its rivals as it kept posting impressive results.

 

 

The CEO claims they have identified the cause of the slowdown and are going about rectifying the mistakes. One area to be looked at more closely is the salary structure of the employees. Those with clearly measurable goals will be moved to variable pay.

 

A key focus will be changing the compensation structure. One of the measures being considered is raising the variable pay component of employees’ salaries. This may specifically apply to those handling the sales and marketing activities.

 

 

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On 9/7/2019 at 11:10 AM, Stan AF said:

Humphries has disclosed that the details of how many heads will roll will be shared in public in October when the company would be declaring its results for Q3 of 2019.

S. Mahadevan

Friday, September 06, 2019 - 16:29

 

 

More news of downsizing at IT major Cognizant Technologies has surfaced, this time directly from the horse’s mouth, that is, Brian Humphries, CEO of the company.

In an interaction with investors in the US (Cognizant Technologies is a company registered in the US with its headquarters in Teaneck, New Jersey), Humphries has disclosed that the details of how many heads will roll will be shared in public in October when the company would be declaring its results for the third quarter of 2019.

These job cuts will be part of an over restructuring that Humphries is trying to undertake to make Cognizant a lean and mean organisation in every sense of the word. He has said, the company has been losing contracts to rivals Tata Consultancy Services and Infosys, primarily due to higher costs, and reduction of costs is going to be one of his priorities. Brian Humphries took over as CEO at Cognizant just 4 months earlier in April 2019.

 

The CEO has said rather than doing the exercise in bits and pieces, he would rather wield the axe in one strong blow and be done with it. He has also clarified that the affected employees will be notified earlier than the date of announcement to the public. This means this month is going to be a virtual bloodbath at Cognizant if you went by the hints thrown by the CEO.  

 

 

The exact words uttered by Humphries may point to that: “We need to be draconian with the cost structure and use those savings to fund the future”.

It is important to note that for Cognizant, any stagnation has only been of recent origin. For almost 25 years, the IT giant was the envy of its rivals as it kept posting impressive results.

 

 

The CEO claims they have identified the cause of the slowdown and are going about rectifying the mistakes. One area to be looked at more closely is the salary structure of the employees. Those with clearly measurable goals will be moved to variable pay.

 

A key focus will be changing the compensation structure. One of the measures being considered is raising the variable pay component of employees’ salaries. This may specifically apply to those handling the sales and marketing activities.

 

 

Means, there will be openings in TCS and Infosys as they got Cognizent's contracts.  

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On 9/9/2019 at 1:42 PM, Stan AF said:

 

Observing nonworking days in these companies is nothing new.  First they manufacture too much and then observe nonworking days.  In 2010, employees in Ashok Leyland had salary cuts for 5 months for nonworking days.

 

https://economictimes.indiatimes.com/jobs/ashok-leyland-rolls-back-salary-cuts-across-board/articleshow/5574091.cms?from=mdr

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More evidence that state-level reforms can only go so far and national-level reforms are necessary. Garbage state governments, like the ones that Kerala seem to be perpetually cursed with will destroy anything when given enough leeway/space.

https://www.thehindu.com/news/national/kerala/muthoot-plans-closure-of-300-branches/article29326249.ece

 

Quote

Muthoot Finance plans closure of 300 branches in Kerala

Quote

The ₹36,000-crore NBFC Muthoot Finance is considering closing down around 300 of its branches in the State that the management is unable to open owing to protest by a group of employees, who are physically not allowing these branches to function.

Muthoot Finance would close down these branches permanently in a phased manner if there is no other option, said George Alexander Muthoot at a press conference here on Tuesday. He was speaking to the media after a day-long sit in by him before the corporate office on Banerjee Road in the city in protest against a group of employees not allowing the corporate office to function.

He said the Kerala portion of the company’s business had come down to 4% of the total business from the previous level of over 10%. This was due to the frequent strike by some employees. Over the past two years there were strikes that had crippled the hit of the company’s business, he said.

He claimed that the employees had no cause for complaint as Muthoot Finance offered one of the best pay packages in the industry. Over salaries, employees were given frequent incentives, bonuses. They had a pension scheme and also been offered employees’ stock option. The company had 3,000 employees in Kerala.

Mr. Muthoot also said the company had abandoned its plans to have its new headquarters in Kerala because of frequent strikes and business losses.

A statement issued by the company during the press conference said there was no trade union at the company and not a single one of the 350 employees at the company’s headquarters had joined the trade union. There were a handful of employees who had joined hands with “forces from outside” to disrupt business, he added.

 

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MG Hector 21000 bookings. Bookings closed for 2019. Kia Seltos 32000 bookings in a month. Hundayi Venue 45000 bookings in a month. 

 

Auto companies need to look themselves, their products. People are looking at something different. Sales of these three cars is an indication.

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Nirmala Sitharaman brings early Diwali for India Inc: Corporate tax slashed to 25.17% for domestic cos
Nirmala Sitharaman said the revenue foregone on reduction in corporate tax and other relief measures will be Rs 1.45 lakh crore annually

 

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