Recession...how bad is it?

[Federer]

HEy anyoe has any idea when would students placed in 07-08 get their joinings?

Yup, I m one of them : Accenture? Anybody has any updates???

[willsurelywin]

some IT companies r such badly hit by reecession ie- satyam,wipro that they have put appraisal on hold for 6 months.

[estranged_gnrs]

Originally Posted by willsurelywin

some IT companies r such badly hit by reecession ie- satyam,wipro that they have put appraisal on hold for 6 months.

Please provide source of your information henceforth. Making blanket statements does not help anyone. Any more posts without source, you go on a permanent vacation.

Rohit

[sid_dharth]

Originally Posted by willsurelywin

some IT companies r such badly hit by reecession ie- satyam,wipro that they have put appraisal on hold for 6 months.

@wsw

Can you post the source of this information, because I am working with Wipro Tech and there is no such thing that has happened in this appraisal cycle.

Also instead of posting such stuff on the thread please verify the information that you are going to post

Cheers!!!
Siddharth

[willsurelywin]

Originally Posted by estranged_gnrs

Please provide source of your information henceforth. Making blanket statements does not help anyone. Any more posts without source, you go on a permanent vacation.

Rohit

**** man there was a article 3 days back in times and eco that satyam has put appraisal on indefinite hold ask any satyam worker...

and i am anyhow going off from this site let **** it...

ban me do what the **** u want .............


i dont have to put links with all posts gotcha........

PS:: SATYAM APPRAISAL WILL BE ON HOLD TILL FEB 2009 AS PER MY HR FRIEND IN satyam...........

[virtus_p]

Perhaps "willsurelywin" was trying to refer to this:

Satyam delays hikes; payouts to be smaller - Home - livemint.com

[Jok3r]

Though not related to appraisals...

Wipro has put off the joining dates of the current batch to 2009(I think its march)...along with Sapient of course...
I can verify since friends from my college, who have passed out along with me have been informed of this...

College name : Jaypee Institute of information Technology, Noida

Cheers...

PS : @Federer : Accenture's joining dates have been on time(this year atleast)...my friends have already joined the hyderabad & delhi centers this month...

[sunil251]

some IT companies r such badly hit by reecession ie- satyam,wipro that they have put appraisal on hold for 6 months.

@WSW

I am working in wipro tech...there is no such delay in appraisal cycle...evrythng is on time....u might have got wrong info...

[konqueror_vivek]

The second stage of US banking slump is all set, Lehman brothers might slash headcounts to reduce expenditure, however, they might have to accept the bid from Korean Bank.
Jobs at risk as Lehman Brothers faces further writedowns

One bigger concern that rule everyone's mind at Lehman is now the risk of Job contract with the Financial institution. Even bigger concern comes when Korean bank will decide whether India / or which South Asian countries are more appropirate for Outsourcing business.
Lehman Brothers faces Korean takeover bid - Times Online

China has its own Debt Capital Markets, which is very different to US debt markets, I wonder what configuration Lehman will have once it is acquired by Korean Bank. Clouds of recession still hold their shadow on the US economy.

[murty001]

Amazing that everyone has an opinion on wats going on in the IT industry other than people working in it .

There is nothing to panic at this point of time as far as IT industry is concerned. Yes, the pay hikes were less this year compared to the same time last year, and they are going slow on recruitment right now. That is mainly because there is a sudden push towards 100% utilization of employees, and companies at this point of time cannot afford to put too many people on bench. And of course where I work, there has been an increase in 10% in the working hours. That doesn't make much difference actually.

People who have letters from various companies, if there is a delay in communication from the organization, just don't panic. Utilize whatever time gap you have effectively and gear yourself for the times ahead. It is highly unlikely that the companies will cancel the offer letters. This happens only in extreme cases. Right now the movement will be slow as there are not many projects in hand and hence there is no point recruting more people and then keep them on bench and pay them. Please don't fall for rumors and arbit statements and get panicky.

Nothing untoward is happening within the campuses. Everything is normal. The growth maybe slow but it is definitely there. It maybe only a matter of time before things again start moving at full steam.

If there is anything specific, just drop me a pm if you wish. I will see if I can help you out.

Cheers..