Jobs

MindTree seems to like what TCS came up with – Reducing salaries in the name of “We think this is right”. One might wonder why they never felt this was not right all these years. Some things which did not matter, does matter when you do not have sufficient growth. Read the full story

A new web site targeted at job seekers and career changers, KillYourCube.com has developed a free Career Map tool that helps users transition from their current jobs to their dream jobs. The patent-pending, interactive Career Map technology gives users a step-by-step, visual roadmap for how best to achieve a new position. Users learn about skills, experience, and knowledge they’ll need — and are linked to resources for their career paths. Read the full story

A recent report by Simply Hired, LinkedIn’s job search portal, reveals through its Employment Trends that jobs on Facebook has increased by 635 percent. Interestingly, MySpace jobs have decreased by 27 percent. LinkedIn also had a substantial growth of 125% jobs while social networking sites did not see an increase in jobs and stayed at the previous 22%.

The data was derived from millions of jobs indexed by Simply Hired a popular job search engine. The graph below depicts the increase and decrease.

Most of the recruiters and employers have quit traditional methods of searching for a perfect candidate. No longer do they spend all their time going through job portals but they also search for interesting candidates on social media sites, blogs, forums and professional networking sites.

LinkedIn is one great way of letting recruiters know about your talents, testimonials, profession, friends, business networks and much more. LinkedIn has over 35 million members in over 200 countries and territories around the world. A new member joins LinkedIn approximately every second, and about half of LinkedIn members are outside the U.S. Executives from all Fortune 500 companies are LinkedIn members and have listed their entire profile including roles, responsibilities, previous experiences, education and their business network details. Read the full story

Dear colleagues,

I write this mail to update you on some critical Board and Leadership level changes in our company, effective immediately. A series of extremely unfortunate events led to this, which I am sure you have seen covered in the media over the past few hours.

A SWAT team consisting of senior leaders has been formed. Many of them are Satyam veterans with a minimum of ten years experience in our company and more than twenty years in the industry. I have been requested to play the role of an Interim CEO and this team will support me, as we steer Satyam through this challenging phase. These are the leaders on the ground and have always had the final call on most customer and associate related matters in the company, so far. This team has committed to work together, to make it happen. The SWAT team represents all customer facing units, key horizontal competency units and critical support units. Read the full story

Dear Board Members,

It is with deep regret, and tremendous burden that I am carrying on my conscience, that I would like to bring the following facts to your notice:

1. The Balance Sheet carries as of September 30, 2008:

a. Inflated (non-existent) cash and bank balances of Rs. 5,040 crore (as against Rs. 5361 crore reflected in the books)

b. An accrued interest of Rs. 376 crore which is non-existent

c. An understated liability of Rs. 1,230 crore on account of funds arranged by me

d. An over stated debtors position of Rs. 490 crore (as against Rs. 2651 reflected in the books)
Read the full story

A “True Lie” infact. Ironically, Satyam means truth. Chairman and promoter Ramalinga Raju confessed that the Hyderabad based Satyam Computers has been lying to its shareholders, employees and the entire world for many years. Regarded as India’s largest ever corporate fraud, it is estimated that the scam is more than 7,000 crore.

Considered to be the fourth largest [or was the fourth largest] IT company after TCS, Infosys and Wipro, Satyam has been cheating its shareholders, employees and clients by manipulating the revenue and profit sheets and thus boosting cash inflows. Satyam has also reportedly shown interest income when actually nothing existed. Read the full story