Job cuts at IT companies
t is often said that when the US sneezes, the rest of the world will catch a cold. Now that the US is feared to be close to a recession, it would be unrealistic to assume India’s IT companies would escape unscathed.
Although they have so far succeeded in growing their businesses by adding new clients and renegotiating existing contracts to minimise the impact of dollar depreciation, difficult days are ahead. In such circumstances, IT companies need to make optimum use of their resources. That would call for weeding out resources that are unable to operate at optimal level or are a drag on overall efficiency and profitability of a business.
The decision of companies such as TCS and Yahoo to let go of a small number of employees who were unable to raise their efficiency to the level desired by the company is only a reflection of painful adjustment IT firms have to necessarily make in difficult circumstances. In a similar manner, segments of business that do not contribute significantly or show no promise of adding value have to be closed down or disposed of. (Full Story)
After cheapest car, Tata to make air-car
LONDON: Tata Motors Ltd has confirmed that it is collaborating to develop an air-powered car with French inventors, a newspaper reported.
Tata Motors Managing Director Ravi Kant told a leading financial daily that his group last year signed an agreement with MDI, a private French company developing cars driven by compressed air.
"It's a very exciting concept, this way of running a car. We hope something will come out of it," Kant said.
He confirmed Tata Motors had the technology rights for India and was "studying whether it can be used".
Tata was looking at applying the technology for both mobile and stationary uses, he said in an interview published Sunday.
Reports last week said Tata was looking at the feasibility of applying the technology to power generation. According to MDI, which is based near Nice, compressed air technology can be applied to emergency generators.
Guy Negre, the French engineer who is working on the invention, was quoted saying last week his five-seater OneCat, with zero emissions in cities, will be marketed within a year. (Full Story)
Source- Economics Times
