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  • anonfourtwo anonfourtwo Jan 26, 2013 7:28 AM Flag

    Layoffs have begun

    If you have any time left before your separation date you are expected to train your Indian replacement.
    All hiring is frozen except for in India.
    Some management is beginning to be RIF'd as well.
    If anything can be done from off-shore - it will be done from off-shore.

    Sentiment: Strong Sell

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    • They call them RIF's (Reductions in Force) and they have been going for some time now, Hell it is so bad the Indian are leaving.

      I give the stock a "hold" as I think they can milk some more gains out of the RIF's but the investor community will soon start asking about growth and within 6 months earnings will suffer

      Sentiment: Hold

    • BTW - train your Indian replacement wrong.

      • 1 Reply to retiredexaon
      • It's tempting. So very tempting. My boss wants me to document almost every keystroke so this Hyderabad college newbie can pick it up quickly. Over the years I've written several procedures documenting the work - so she's got some that I never started with. Nothing was documented when I started. I'll teleconference with her for an hour a day (the only time our work hours overlap) but I am through writing putting anything in writing. She's free to take notes and write her own procedures all she wants. Actually I've got several hundred sick hours that count for nothing at termination time. I might as well take some days off here and there.

        Sentiment: Strong Sell

    • Coincidentally I read in IT CONTRACTOR that both Barclay's ans Lloyds in England are firing IT staff and sending those jobs to India too, with a loss of quality of work but they do not care, it is all COST SAVINGS.

 
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