Economy of Social - Social Media Tips, Marketing and Business

Competition is healthy, but then when one competitor is down and shows lack of character or courage and looses faith in its own men (like laying them off) competition can take an ugly or stupid turn.  Nokia has been loosing market share to many of its competitors and most prominently Apple. The brand cult around Apple has shown the world that "the power of people" can overthrow regimes, big businesses and big money.

Satyam Layoff is round the corner as there are reports that it may layoff 5000 people anytime. The company and government both are in a catch22 situation. The revival of the company requires cutting the cost that would mean chopping off the bench strength or the unnecessary accumulated employees by its founder. By doing so Satyam could trigger a domino effect that would cause others to do so in an economic recession by citing its example. The winter of 2008 was almost tragic to the fate of the company. There are reports that contracts to the company are reducing. The CEO of Satyam, Vineet Nayyar says that the IT giant has nearly 10,000 surplus staff. The past record of the Mahindra's suggest that they mean business and looking at the way things are proceeding there is a layoff looming round the corner. In a chat with an MBA graduate now in his mid 30's and working with a well known multi national company, his attitude suggested me that he was more of a burden on the organizat...

According to sources and insider details, about 12,000 employees of Satyam will be handed the pink slip. This comes just a day before election counting begins. Almost all the bench force of Satyam will end up loosing their jobs. A blog on Satyam, Satya of Satyam writes , Sources inside the company have stated that 15th March has been fixed as the date for laying off a lot of people from Satyam. A lot of the top managers and the staff who has been on bench will be given sabbaticals. This means that they probably will be getting just their basic salary. Wipro has already implemented the same for their "Benched" employees. A lot of the top brass will also be replaced by Tech Mahindra staff, it is believed. Experts have apprehensions on this because they say that the true strength of Satyam lies in delivering complex business. The outcome of this layoff is going to affect the whole IT industry, including growth prospects of freshers in other IT companies. A leading IT company ha...