The publisher of the world’s largest-circulated magazine, Reader’s Digest, has decided to file for bankruptcy in the US, but its operations in rest of the world would remain unaffected. Reader’s Digest is being sold across dozens of countries including India. The filing for bankruptcy protection by Reader’s Digest Association (RDA), the company said in a [...]
Posts Tagged ‘HCL Tech’
18 Jul
HCL AXON Division of HCL Tech Buys South Africa's UCS Group's SAP Operations.
HCL Technologies Ltd. said Friday its HCL AXON division has bought the SAP operations of South Africa’s UCS Group Ltd. for an initial payment $7.7 million in cash. The deal also includes payments to UCS Group over the next two years based on the acquired operations’ performance, HCL Technologies said in a statement. The total [...]
20 Jun
Good news pouring in from Indian IT Services Providers. Infosys, TCS, Satyam, Tech Mahindra disclosing few nice surprises.
Last week Satyam (Part of Tech Mahindra now), Infosys and TCS disclosed few nice surprises. It seems that Indian IT Service sectors has left the past and looking ahead for future. In relief to the Satyam employees, about 400 people who were asked to sit on the virtual bench have been called back into the [...]
11 Apr
Microsoft, HCL tie up to provide jobs for 600.
Computer giant Microsoft has signed a $ 170-million five-year contract with India’s HCL for outsourcing work for its online business productivity suite. HCL will provide 600 employees to support the contract and nearly 250 workers have already begun work on the project. Microsoft has not said whether this contract is to replace any existing agreement [...]
4 Apr
HCL Tech cuts 25% salary for benchers. Freezes salary and cuts retainer bonus and onsite allowances.
Salary freeze and a cut in variable pay seem to be increasingly becoming a rule at IT companies. Following in the footsteps of its global and national peers, IT major HCL Technologies has announced a salary freeze and bonus cutbacks for all its employees through 2009-10. According to a report in a business daily, IT [...]
3 Mar
Layoffs History in India by Indian IT Companies. TCS, Infosys, HCL Tech, Satyam, Patni, Mastek, Motorola, Capgemini, Sun, Yahoo, Hexaware, persistent and GlobalLogic layoff employees from India offices.
Please find compiled list of all layoffs across Indian IT companies. This list include layoffs from TCS, Infosys, HCL Tech, Satyam, Patni, Mastek, Motorola, Capgemini, Sun, Yahoo, Hexaware, persistent and GlobalLogic. (Please click this link to see details of all layoffs by MNCs all over world. List of companies include Google, Microsoft, Texas Instruments, IBM, [...]
27 Feb
HCL Tech lays off 450 staffers from it's offices in India.
IT services company HCL Technologies has asked 450 employees at its Delhi and Bangalore offices to leave. A majority of those axed were on the bench. An HCL Technologies official, who spoke to ET on the condition of anonymity, said that the company had sacked 400 people in Delhi and another 50 in Bangalore in [...]
6 Jan
Tech Mahindra interested in Satyam. Deal may create third largest Indian IT Service company.
Tech Mahindra, a Mahindra & Mahindra group company, is understood to have approached Satyam Computer Services, India’s fourth-largest IT services company, for a cashless merger, according to a person close to the development.If the transaction goes through, it will involve Tech Mahindra merging into Satyam, creating the third-largest IT company in the country. The management [...]
5 Jan
Satyam looks out for merger with IT peers HCL tech and Mindtree. Mindtree closed the door on Satyam's face saying not interested.
Satyam Computer Services’ management and some funds have approached two smaller rivals about a merger to fend off any possible hostile bid for India’s fourth-biggest software services exporter, the Business Standard said on Monday, but one of the firms said it was not interested.Citing investment banking sources, the newspaper said Satyam held talks with HCL [...]
15 Dec
Thanks to Axon, HCL Tech had signed over $1 bln deals in Oct-Dec Quarter.
HCL Technologies has signed over $1 billion in contracts in Oct-Dec, the highest ever in a single quarter, helped by its purchase of British software firm Axon, its chief executive said on Monday. But India’s fifth-largest software exporter warned of pressure on revenue from a strong dollar and as firms cut their information technology budgets [...]
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