Posted by seshdotcom on December 28, 2008
One of the Cost Cutting Technique 🙂
Each company have their own way of reducing costs and most of the US companies are said to handle this cost cutting measures very effectively.If the times are difficult.Some of the Indian Banks have also started implementing the cost cutting measures like the Kotak Mahindra Bank,State Bank of India and many other famous firms.And the Kotak Mahindra Bank has named this Cost Cutting Campaign as “Kill Bill”.Some of the cost cutting techniques they have adopted is Work at a Particular temperature don’t go very low because that may take a toll on Air Conditioners and it helps in reducing elextricity bills and don’t spill coffee when you take from the Vending machine,Keep the Monitors Switched Off when not in use,Many of the measures are also taken by other banks like SBI and HDFC they have an idea on cutting down the costs related to courier and Posts.
It was also explained why??—>HDFC banks get 20,000 to 25,000 new accounts for every 25 days,The cost of sending a Welcome Kit through Courier costs around 40 rupees.This amount was calculated and it comes around 6 lac and if it is going to be sent by email it will save this 6 lacs.So if clients agree to receive the contract over the email,there is obviously a remarkable savings done.So all the companies have become aware of the Eco”nemesis” and they are taking measures to not get drowed in this Gutter.Hope that it will get over soon and Economy returns to normal life soon.
Posted in Business/economics | Tagged: Cost Cutting, Cost Cutting Techniques, Economic Depression, Inflation, Kill Bill Campaign by Kotak Bank, recession | Leave a Comment »
Posted by seshdotcom on December 7, 2008
Now it is the turn of Swiss Bank to enter into the “Layoff” Party along with the Japan Major “Credit Suisse and Nomura Holdings Nomura Group“–They Both together announced the Biggest Job Cuts ever this is the further evidence that Global Financial Crisis is inexorable for any Industry battered by heavy Loss and weak markets.To be exact the number of layoffs made by Swiss Bank and the Japan’s Biggest Broker has reached 6500 with 5000 going into the Credit of Swiss and the other chiliad going to the Credit of “Credit Suisse and Nomura Holdings”—As I said in one of my Posts you can never Sleep Peacefully(You can roll ,You can fall from your bed, You can Drink–But nothing is going to save you from this contractable disease “Recession”-All these started with the Lehman’s fall which sparked mass murder in the Economics/Financial Markets.And because of this many of the other company like “State Street”(One of the World’s biggest institutional Money managers,said on wednesday that it has plans to layoff as many as 2 Grands of People.
A Good Cartoon to watch till you finish your college
Many of the Banks in Asia are axing Jobs across different countries like say for example India where the investors were affected to the Core.To my Surprise AT&T-AT&T Inc has joined the recession parade it was said that the Company is going to cut 12,000 Jobs Due to Downturn(Which is about 4% of Workforce)–We cannot say what is going to happen when it is going to happen said Ralph de la Vega CEO of AT&T.”So in all companies the first thing they would say is as of now we are not clear which department will be affected but We will Keep You Posted(Posted with Firing Letter 🙂 😛 ).
Posted in Business/economics | 2 Comments »
Posted by seshdotcom on November 28, 2008
NEW Jobless Claims fell more than expected in last month or 2 weeks or so from a 16 year high.The MASSIVE stimulus plans to drive the world out of recession has took center stage on all the countries.The number of people continuing to claim Unemployment insurance have also dropped—->Economic expert from different countries say that the Jobless claims now can show you the clear picture of how fast the companies are laying off workers—>The important thing about this is the Employees who quit or fired are not eligible for any of the benefits that are given to the people.The economy has been beaten to death for the past 3 months and it will take time to bring it back to the normal position—>It has been Bludgeoned very badly that you cannot recover from this menace easily.
The new entrant + Experienced Person will it make a difference
Obama’s who became the new entrant to the White house has taken some necessary measure which may appease many of the Human hearts—>he has named Paul Volcker–A famous economist and The Former Federal Reserve Chairman) as the Head of the advisory panel to advice and assist him to stabilize the Financial Market which is in a Jeopardy Level 1 now.Obama said to a Pressman that he will now focus squarely on economy.He has also taken a very good step to cut billions of dollars in uneconomical government spending.Volcker will head the White House Budget Office and will take care of all the financial things going in and around the US Markets
Posted in Business/economics | Tagged: Barrack Obama, paul Volcker | 4 Comments »
Posted by seshdotcom on November 16, 2008
This is not a new thing for you to read but you may become a Victim of this Pink Notice Hades .The Global Economic Crisis is Drilling holes on everybody’s life especially in the life of IT Professionals.All the top companies has now began to think of the future and if this wretchedness is going to continue for another 1-2 Yrs then I bet you Zillion dollars that each one of you will have weeping eyes and a Pink Notice in your Hand.It was said that this wobble started with the Crash of an Gargantuan Bank and after that it had a pendulous effect.And many of the companies are now starting to plan for Cost Cutting and reconstituting…The Problem is many of the companies don’t have any work for the Hired resources so the dead air is running around the Conference hall as Can this Person be Cast out—->Suddenly you get a Mail you’re Fired(But most of the Companies will have it a last Option—>Just like that Firing won’t happen) so it is not that you are a Bad Worker(The Situation demands) and I would like to say one more Proverb in Tamil at this Point NOBODY CAN CHANGE WHAT WAS WRITTEN ALREADY.So slogan for all the people would be Be Prepared(For anything Anytime) but all companies aren’t the same many of the companies have been doing well even during these hard times..So what would be running inside the mind of a IT Professional when he goes to Office Will I be in this Seat Tomorrow ??? If so for how many tomorrows I will be here????.So I can say only one thing be a Optimist and don’t have even a negligible % of feeling that things will go badly..Hey and I would like you share with you one of the funny Serial I watched named The Office starring:Steve Carrel—>It is fully related to this The Office takes the Story like how a Polished Firing will happen—>In One Such Episodes they were about to fire a lady and Steve Carrel was the Chief of that particular Organization and he makes a Plan of sending her during her Birthday so he tells his workfellows to buy her a cake with a Greeting Message Bird-Day instead of Birthday(Indirectly tells that you gonna fly out of this Place today)..And there were many such comedy stuffs happening in that..But it has a serious effect on everybody’s life so lets Hope that the resurrection would happen soon…
People now see how a Silly Little Pink Slip can Change your Calm Life into a Tornado 🙂 🙂
Posted in Business/economics | Tagged: Job Burnout, Pink Notice, Pink Slip | 2 Comments »
Posted by seshdotcom on October 12, 2008
This is the Situation in each and every company
You can never sleep peacefully
Payrolls in US probably fell in August for an eighth Month and Manufacturing stalled and till now there has been no improvement in the world economy ,Employers are said to probably cut 75,000 Jobs what will the people of US and other country do if this is going to happen on a Regular basis??????..Mounting Job losses,sliding home values,reduced access to credit and rising prices are the reasons for the people around the world to sit dunned.One of the famous economist in US told that “We’ll see job cuts continuing as businesses are under lot of Pressure”.I read that General Motors(one of the largest US automaker )is offering early-retirement incentives to about 9000 salaried workers,and workers of Renault one of the other major Automobile company came to know about the Plot well before and they indulged in strike but General Motors workers I think hasn’t realized the future and probably that would be the worst Job filtration in the History of US Automobile Industry.And the manufacturing sector was seen from the Outside world as the most Unaffected/Most untouched by this Sudden Econemesis-(The Misery Caused by economy) because it is getting support from exports but this is also held back because of poor and weak domestic Activity.And many Job cuts are expected to happen United Airlines has also announced that there would be a liquidation of 1,550 flight-attendant jobs to help themselves recover from early loss
Posted in Business/economics | Tagged: Econemesis, Economic woes, General Motors, Job Cuts, manufacturing Industry, Payrolls, sliding home values | Leave a Comment »
Posted by seshdotcom on September 20, 2008
The Lehman Brothers becomes very lean
Hey it may be too late to write in my Weblog but thought of writing this-The Bank Giant LEHMAN BROTHERS Shares lost about 40% on Thursday which made the Socials question that whether the Bank will survive from this deficit-This happened because of its failure to sell the assets to cover the losses from the real estate investments.Lehman Brothers in its report announced that incurred a Quarterly loss of 3.9$ Billion because of this,and said it would spin Off distressed assets and sell a stake in tis asset Management Business.One of the Chief market analyst of Jefferies and CO told that it is pretty hard to believe that Lehman failed to clear the dark Cloud that surrounded it-And this has brought complete Lack of faith,Lack of trust,Lack of confidence.The filing made by the Lehman brothers is said to be the largest bankruptcy in the history of U.S Markets
Once or say some days back Lehman Brothers-Was a Umbrella term for Faith,confidence,Customer satisfaction,Prolific Growth etc etc etc,)But now it is no more like that until Lehman proves and revitalize itself from the heavy loss incurred by it.I probably think it would be Acquired by someone else it is no more a Independent Company.And I read about Barclays plc placing a Order and an interest to buy it lets c what is gonna Happen to the Lean Lehman Brothers
Posted in Business/economics | Tagged: Barclays Plc, Jefferies and Co, Lehman Brothers, Quarterly loss | Leave a Comment »
Posted by seshdotcom on July 18, 2008
The whole Concept of customer care
I think the whole concept of having a Customer care by some Famous Companies and even by some Giants is apparently a thing to four flush the Customers and the Public..
The Chamaeleon Behaviour of the Companies:
When you are about buy their Product you are calling the customer care: Ringing tone->DRING DRING DRING DRING->Hello Sir Good morning/evening My name is Mr.X how may i assist you and you will ask your query about some Z Product and some bla bla description from the other side about their Product and they will say we are giving this for Best Price sir etc etc.,and then their magnetic Promotional offers-> if you buy this you will get a Gold coin etc etc.,
When you’re calling to lodge a complaint:
This can be Broadly divided into two
Hi this Mr.X from Y company how may i help you..you will say your Problem and the answer Could be “Lame Reasons:Currently i think the Technical person is not available so i will get back to you as soon as possible->as soon as possible can be any number of days—when ASAP is one day for me it would be 6 days for him to respond to your Query so you have to crush your teeths and have to wait for them..No response:Or it will happen the other way the call you make will not go to a Customer care Executive itself ha ha what can you do if this happens you can do nothing other than go on trying the number and your Cell Phone Balance will get Boozed Off what they will do is they will switch on a Good for nothing Music which will irritate you rather than keeping you Occupied you will feel the dead air in Seconds–I have experienced with respect to this Problem some 1 week back with a Famous Digital Television channel Service Provider I had this:In that if you want to add any channel package or remove any package you have call the Customer care who will attend the calls occasionally.Really i was very much annoyed about this so i shouted by writing in their Online Query System..And people this is the real status of all the company’s customer care service and finally I had a verbal armed Week with this guy and somehow the issue got resolved which finally Screwed my Cell Phone Balance
Some of the companies have Toll free Number but they will not give that number to post your Queries because they have to pay(This happened to one of my close friend he is having a Broadband Connection->The irony is he came to know about this from one of the Serviceman who came to his house for a repair work)
So this is already a Known Fact everyone knows what these people are doing but I have made this into my stash because I want to make the people who are unaware of these kind of Foul play played by the Customer care call centers they are Bilk’ers’ i will kick them if i get a chance
And i had a Very good Experience in one way and a very Bad Experience the other way so i thought of sharing with you
Please tell what you really feel about the customer care!!!!Is that useful anyways???
Though there are some very Good Customer cares because of the Weeds like these defines the concept of customer care as a total Crap
Posted in Business/economics | Tagged: Cell phone, customer care, dead air, Digital Television channel provider, TOLL FREE NUMBER, Verbal war | 2 Comments »
Posted by seshdotcom on July 14, 2008
The Haunted Restaurants
Reports say that the people in the Metros(Chennai,Delhi,Kolkatta,Mumbai) have restricted themselves from eating outside because of the Inflation->See how a silly nine letter word has become a nemesis for the People all round the world.The Dining and Hotels section is not a Exception to this Inflation which has a Played a Huge role in the Past 6-8 Months wherever you go there is Hike in Price of the Goods and the Most affected are the Staples where the demand is constant but high cost has made people step Backward because of Affordability.And the survey and the results done by a Private firm has revealed that over 70% of the consumers across Mumbai,Delhi and other Major cities say they have cut down having their food outside and Home deliveries of the Rich foods like Pizza.The city Bangalore where many Youths and Professional stay and work are one of the Worst Affected with all of the consumers in this city has cut down eating outside and Ahas Avoided Home deliveries..And if this is going to continue for next 6-8 months or so on then i am sure that All the Pizza Huts will be having TOLET Boards and Restaurants will become Tea Shops..This Inflation has not only taken a Brobdingnagian Growth in India it has also made its mark in U.S.A,U.K->where one Kilogram of rice has increased by 100%..
So I think this has exceeded the limits and Bringing down is not Possible and will not be a challenge now but keeping it at the same state will certainly be a Challenging Task to the Govt.
Posted in Business/economics | Tagged: Inflation, Pizza Hut, Restaurants, Staples | Leave a Comment »
Posted by seshdotcom on June 13, 2008
Dubai World acquired a Wal-Mart owned Property Developer Gazeley for 400 Million Pounds..Sultan Ahmed bin Sulayem->The Chairman of the Dubai World said that the Aquistion was a Milestone in the Global Expansion in its Economic Zones World(EZW)..What is notable among this Aquisition is the Dubai World investment company has already made an Extensive Investment in Many of the real estates in UK,US and the Africa together with this Gazeley(Gazeley has many Warehouses setup at the U.K,U.S etc so everything will become a Property of Dubai World now)..Now the Biggest challenge for Sultan is how to make the Industry as one of the Super Majors in the Property Developer..So thus this Aquistion has become the Biggest Aquisition ever Made in this Industry and the Historians and the Industry Developers Hope that there will not be this Kind of a Aquisition in future also..
Posted in Business/economics | Tagged: Dubai World, Gazeley, WAL MART | Leave a Comment »
Posted by seshdotcom on June 11, 2008
We all know that there are Salary hikes given to the Employees by the Employers recently in all the Software/IT Companies and the Employers are considering to set off the impact of Spiralling Prices on their employees by Promoting ‘Tele-Commuting’.This tele-commuting is a term which briefly explains Working from Home and what happens if you work from home????->You can beat the Transportation Inflation you can curb it to an certain extent and mainly the companies like Infosys,Wipro,HCL etc.,should promote this only then there will be a Fall in the Prices or else the daily newspaper will only say Sudden Surge.With a Spurt in Prices of car Maintenance and sudden rise in Petrol prices has also made employees think to shift their Workplaces near to their home…Many IT Companies in NOIDA are also Under Pressure to revise their Monthly Conveyance from 10 % to 15 %….So If this kind of a Procedure of tele-commuting is followed Inflation can be curbed to an certain Extent…
Posted in Business/economics | Tagged: HCl, Inflation, Infosys, Tele-commuting, Wipro | Leave a Comment »